> For all its utopian trappings, web3 tech like cryptocurrency only deepens the problem of elite control over the internet. We have an alternative.
> The promise of web3 is a promise to re-create the inequalities of modern capitalism, with 0.01 percent of Bitcoin holders controlling 27 percent of the cryptocurrency in circulation as of December 2021.
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[ 2.1 ms ] story [ 19.8 ms ] thread> For all its utopian trappings, web3 tech like cryptocurrency only deepens the problem of elite control over the internet. We have an alternative.
> The promise of web3 is a promise to re-create the inequalities of modern capitalism, with 0.01 percent of Bitcoin holders controlling 27 percent of the cryptocurrency in circulation as of December 2021.