WhiteSight in Web3 Wonderland: A Weekly Newsletter 🔗
Since its inception in the 1960s, the internet has undergone several fundamental transformations. With some bright minds working on heralding the next evolution of the internet, a.k.a. Web3, one meme and one dApp at a time, an exciting, eclectic, and equitable future awaits us on the interwebs.
The previous iteration of the internet, i.e., Web2, was mainly centered around information, interactivity, and intelligence. This led to the emergence of a handful of firms – appropriately named BigTechs – who became the monopolistic masters of amassing information, driving interactions, and deriving unprecedented levels of intelligence about everything that happens on the web. And, of course, they cashed that in by serving billions of consumers and becoming trillion-dollar big shots. Sometimes this windfall *cha-ching* came at the expense of the very users they were serving and benefitting from in the form of political manipulations, de-platforming incidents, and anti-competitive behaviours.
This led to the talks of disaggregation, disintermediation, and decentralisation. (Yes, we love alliteration). We believe ‘decentralisation’ is the core phenomenon driving the evolution of Web3.
The list of things needed to ensure Web3's effectiveness in addressing the Web2-era’s challenges and pitfalls is a long one, dear reader. To elaborate in some tech-world lingo – these include ensuring standardisation and interoperability across services and systems through trustless protocols, more intuitive and seamless user interfaces through immersive technologies, and unprecedented levels of transparency and fairness through decentralised governance. Big words and even bigger tasks tbh.
We think there are several key pillars on which the lofty ideals of the decentralised web will be upheld. Therefore, *drumroll* *clears throat* *mic check*, in this Web3 Weekly Wonderland (WWW) newsletter, we intend to be a witness to the evolution and progress of Web3 by tracking six key decentralisation pillars:
Decentralised Currency: Decentralised currencies have existed for over a decade now, witnessing several severe ups and downs. In this segment, we will mainly focus on tracking cryptocurrencies and stablecoins.
Decentralised Applications (dApps): dApps hold great promise but are at a nascent stage of evolution. There's a lot going on around GameFi, DeFi, SocialFi, DEXs and many more niche themes, which we intend to cover in this segment.
Virtual Worlds and Digital Assets: Virtual worlds, i.e., metaverse and digital assets such as NFTs, have gained a lot of hype as the future of location-agnostic environments to drive global economic activities and asset ownership. We intend to track the progress of this exciting sector keenly.
Decentralised Identity: Self-sovereign identities are trying to address the data ownership issues of the Web2 era. It’s an emerging but essential pillar that we are going to keep an eye on.
Decentralised Tech: Scalable, secure, and permissionless blockchain and smart contracts are the core technology foundations on which the Web3 world is expected to be erected. This will be our focus in this segment.
Decentralised Governance: And finally, the intangible but important issues of collaborative decision-making, decentralised leadership, which hope to create a new form of organisation that ensures unprecedented levels of transparency and fairness. We will be watching out for DAOs, governance tokens, and emerging voting protocols in this section.
It doesn’t matter if you are a Web3 believer, enthusiast, sceptic, or critic – get on board with the Web3 Weekly Wonderland (WWW) by subscribing to our newsletter. We leave bias out the door and ensure factual information all the way through peppered with some fun and educational tidbits. Stay cool and stay tuned for our weekly instalments on Web3 wonders!