Is There A Philosophy Behind Web3?

Philosophy is more than an empirical concept in my opinion because at the heart of it are basic principles or tenets that we follow and build on. Although the details can seem complex, there's always a sound reasoning behind them.

It's no secret that we're experiencing a global transition, a change in fundamental structures. And it could turn out to be a major transition when we look back a decade from now at this moment we're living in.

In a way, web3 is a movement that's redefining the nature of the internet, another iteration of it and there is a philosophy behind it. Key principles that underpin the web3 movement.

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Decentralization

I believe the core tenet is the idea of decentralizing the internet. We've come to know that the internet should no longer be controlled by a few powerful corporations, but rather by a distributed network of users.

One of the reasons is because this powerful corporations don't have the best interest of its users at heart and have been abusing their power some of which we're only beginning to realise.

Besides, centralised structures are vulnerable and susceptible to all kinds of hacks in which valuable data is stolen or tampered with.

Trustlessness And Openness

Trustlessness simply means that internet users will not have to rely on trust in third party intermediaries such as banks or social media platforms. Rather, it is ensured through the blockchain via smart contacts that enforce rules and transactions.

In simple terms, one doesn't need to trust that the other party will hold their end of the deal. The blockchain will make sure of that acting as the intermediary. This is especially useful in the finance space.

Openness, on the other hand, is the principle of transparency and access to the underlying code and protocols allowing anyone to audit it. Like Linux, the technology behind web3 is mainly open source. So anyone can access, study, and contribute improvements or bug fixes to it. And also modify the code to create something else from it. Isn't that the epitome of decentralization?

Privacy

Privacy has become a hot topic due to the growing concerns about the ways in which our personal information is been collected, use and shared in this digital age.

We all know that with the rise of social media, people are sharing more data than ever before without fully understanding how it is being used and who has access to it.

Web3 seeks to protect user data and give users control over their personal information, in contrast to the current internet, where user data is often collected without their consent and sold by large corporations for massive profits.

User Empowerment

I intuit that on the development perspective, this is the end goal despite it also being a fundamental principle.

Web3 seeks to empower users through giving them more options and greater control of their online experience. Be it control over their data, the ability to freely participate in decentralised networks, or to transact value between themselves without relying on traditional institutions.

For me, it is the birth of the sovereign individual. A person who has a high degree of personal autonomy and control over their own affairs in the digital age.

Conclusion

I wonder what the philosophy of web2 was while it was being founded almost two decades ago. Most of us can only guess based on the current fruits it has beared.

The philosophy behind web3 is altruistic. And although, human nature hasn't changed much over the decades. One way or another, I believe it will come to fruition and I'm excited to see what's in store for us. Or will it not?

Thanks for reading!! Share your thoughts below on the comments.