Big Technology Podcast Web3 And The Future Of The Internet — With Box CEO Aaron Levie
Jan 5, 2022
Aaron Levie, CEO of Box, dives into the complex world of Web3, shedding light on both its potential and pitfalls. He discusses how decentralization could transform the internet but warns about the hurdles in making it user-friendly. Levie questions whether current approaches truly empower users or just replicate existing structures. Additionally, he addresses the need for sustainable monetization for creators and the philosophical debates surrounding digital ownership, providing a nuanced perspective on the future of our digital landscape.
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Crypto's Ideal Use Case
- Money is the ideal use case for crypto due to its shared global understanding, censorship resistance, and low data payload.
- Extending crypto beyond money to applications like social networks presents challenges because data lacks inherent value outside of its application context.
Web3's Decentralization Goal
- Web3 aims to distribute gains currently centralized in large tech companies by making users network owners.
- This ownership incentivizes participation, theoretically creating a better internet by decentralizing power.
Innovation Bottlenecks in Web3
- Web3's decentralized model requires consensus among developers, which can slow innovation.
- Constant coordination is needed to ensure consistent user experience across platforms, unlike centralized platforms like Instagram.