Web3 Gala — clip: "So, What's Web3 Exactly?"
Ben I think we don't know what web three is yet. I think we're in web 2.5 or in the sense that we use all these web two technologies in web three still. You know? We use Twitter to communicate or LinkedIn. So I think in one way, Web three, right now is something we hope, but we don't we can't define it totally yet. We'll look back on it when we're in Web four, and we'll know exactly what Web three was. I think we're still in an early enough phase that there's all this opportunity in front of us, and we can choose to squander that or not. We can choose to improve representation in Web three in a way that doesn't exist in Web two, or we can let, big companies come in and not do that. Web three zero and the technology behind it is just another hammer.
It's a tool, and you can use a hammer for good or for bad. So I think we have the opportunity to make it and mold what Web three point is going be.
Speaker 1 I see Web three as a, like, a sophisticated, technically capable young person with a huge potential and motivation to shape existing power structures, but it's kind of awaiting some form of education to draw its principles at the moment. So in that sense, I find what circle of trust here is is is very valuable. Web two also had similar potential in terms of this this distributive justice, which was, like, partly realized for some creative industries. But, actually, it ended up being benefiting a handful of people instead of serving to humanity as a whole. Step back.
Speaker 2 Let's talk about three things very quickly. Right? The first thing is technology, decentralization, blockchain, all those new element that we attribute to web three. Fundamentally, they exist for many years and are applicable to any web errors. What has dramatically changed in the last couple of years? Actually, it's not about the web protocols, but more the compute powers that has been enabled. So definitely storage and compute have grown exponentially. So third aspect is the application. What do we build on top of web, what we called Web three? It's new application powered from very, innovative technology, which are fueled from this vulnerability of storage and low cost and high computational power, like generative technology, chat GP three, that are going to enable new application in the web. What I believe is an interesting observation was the concept of trust. And what do we want to enable in the future of technology that is available to all of us.