What can web3 solve?

I'm going to talk about problems that web3 can solve.

Users don't care about the underlying technology, they care about what it can do for them. With web3, we need less jargon, more user empathy and problems it can solve.

Let's look at a few.

Pay people easily:

It's easier to pay people, especially cross-border.

All I need to pay someone in web3 is the address of their wallet - it's faster and sometimes cheaper. For an international bank transfer, I need some combination of: IBAN, Sort code, Account Number, Name and Address. The payment can take a few days and involves a fee.

Work anonymously:

Traditional work requires you to disclose your identity, web3 does not.

Traditional work requires details like your social security number, home address or name to be employed. Web3 does not. Join a DAO, contribute and get paid via your wallet without ever disclosing your real name.

Lower take rates:

YouTube decides its take rate - 45% of creator earnings.

Web3 organisations are governed in a decentralised and democratic fashion. Community members vote for what the take rate should be, and it could be lower.

Enables digital ownership:

Web3 enables digital ownership of assets.

In web3, the ownership of an asset, whether digital or physical, is written into the blockchain. It's difficult to counterfeit or challenge ownership.

Make censorship difficult:

Censorship is harder on web3.

Data on web2 is stored centrally. Data on web3 is distributed making it harder to censor.

Web3 is not perfect

But focussing on problems it can solve makes for a more constructive debate.