Crypto --> Web3
Recently I’ve noticed more people describing the industry as “web3” instead of “crypto”. I think this is very promising shift.
For context:
Web1 (1990-2005) = newspaper delivered online (i.e. read-only, content distribution)
Web 2 (2005 - 2015) = social media (i.e. read-write, user generated content and interactions among users)
Web 3 (2015-today) = cryptocurrency and NFTs (i.e. read-write-own, digital property rights and decentralization)
This is noteworthy because the common language used in the industry today is inhibiting mainstream adoption. Many lawmakers and outsiders are highly skeptical of the industry, and I think a major reason is that the language is extremely uninviting. Words like crypto, blockchain, protocol, cryptopunks, non-fungible token, decentralized autonomous organization. Even “bitcoin” isn’t friendly, especially considering it has an anonymous founder.
It’s time for a wholesale change in word choice.
The timing of this shift looks to be in line with the famous book Crossing the Chasm. The early adopters came for the technical breakthrough and new opportunities. They’re willing to invest in learning and experimenting with more risky technologies. However, we’re now breaking through to the early majority mainstream, and the language we use needs to reflect that.
To the future of web3!
Have a great weekend.
Brian