Home>BLOCKCHAIN>Web3 advocate and writer Alex Tapscott on the way forward for blockchain mass adoption

Web3 advocate and writer Alex Tapscott on the way forward for blockchain mass adoption


Web3, blockchain, crypto and mass adoption have been main buzzwords in 2021 and 2022, however the public curiosity within the phrases fell to the wayside during the last yr as media headlines narrowed their focus to the now defunct FTX alternate and the trial of its founder, Sam Bankman-Fried

Quick-forward to the current, the place media headlines are centered on pending spot Bitcoin exchange-traded fund applications, greater than 100% year-to-date value features for Bitcoin (BTC) and a revival within the NFT markets.

Maybe, Web3 is again.

On Episode 14 of The Agenda podcast, hosts Ray Salmond and Jonathan DeYoung spoke with Alex Tapscott about his deep views on Web3 and the way the tech and concepts backing it’s going to “rework the prevailing industries.”

The blockchain revolution continues to be taking place

Revolutions catalyze transformation, however these adjustments are likely to occur steadily, reasonably than unexpectedly. Tapscott detailed the affect he sees Web3 having on varied industries with The Agenda and in his new e-book, Web3, charting the web’s subsequent financial and cultural frontier, the place he breaks down and explains all issues Web3, from NFTs and DAOs to the metaverse.

Whereas NFTs, DAOs and the metaverse are sometimes offered as full-on replacements for the present constructions in use, Tapscott defined that the concepts and the instruments provided Web3 can extra effecitvey be built-in to present industries.

“However what’s extra fascinating is that not that the prevailing corporations will change to be like the brand new factor, however reasonably that new issues will come alongside that can, in the event that they’re helpful and enjoyable, drive adoption. Individuals will use them as a result of they like them and suppose that in the event that they’re in Web3, that a part of that might be that people have extra sovereignty and management over their information and their belongings.”

Associated: Meet the 13-year-old student selling sneakers for Bitcoin: The Agenda podcast

Relating to the regulatory challenges that proceed to create hurdles for the Web3 business and whether or not or not blockchain “fixes every thing,” Tapscott stated referred to a dialog he had with Andreessen Horowitz Basic Companion Chris Dixon. Drawing from his dialog with Dixon, Tapscott stated:

“Going again to what Dixon stated is that the know-how improves and will get extra helpful after which turns into one thing that everyone desires to make use of as a result of we’ve ironed out the kinks. And I feel that we’re nonetheless, frankly, within the ironing out the kinks part. In order that’s level primary. However level quantity two is like simply because we iron out the kinks and make these things higher and extra helpful doesn’t imply it solves each drawback.”

Tapscott defined that many individuals are “on the lookout for salvation in know-how” and that they’re more likely to be disenchanted.

“I feel lots of people make Bitcoin into a faith. And I can inform you like several faith that got here earlier than it, it’s perhaps a properly, I do not wish to get political or something like that, however like touch upon individuals’s religion. However I simply suppose prefer it’s simply not the best method to consider know-how as like one thing that may resolve all of your issues.”