Web 3.0 – The Great Con – Dave Gebler

In over ten years since Bitcoin captured the public imagination with the idea of blockchain, we’ve seen no significant real world adoption of cryptocurrency as currency (and the few attempts to do so have ended in failure), no use of blockchain as a superior alternative to conventional databases and cryptographic signatures, no democratic revolution of the internet and big data.

What there has been is a countless number of investors who’ve lost money, outright illegal scams preying on the hype, projects which started with good intentions but subsequently collapsed (while their founders miraculously got away with millions), pump-and-dump schemes which leave a large number of “bag holders” separated from their life savings and an increasingly stagnating market of useless tokens which are primarily used as a form of gambling.

So next time someone tries to tell you that blockchain is the future, or that crypto is going to revolutionize the economy, my advice is simple: don’t buy in to the hype.

Source: Web 3.0 – The Great Con – Dave Gebler