Web3 Is Useless If It’s Not User-Friendly
The rebranding of blockchain technology has generated hype and attracted investment dollars. But the underlying challenges remain formidable.
Seemingly out of nowhere, web3 has become one of the biggest technology trends of 2022. It’s captivated investors, the technorati, and Paris Hilton. But the number of people who’ve heard of it well outnumber those who understand what it really is: essentially just a rebrand of blockchain, the software at its heart.
Blockchain was an ultra-hot investment sector that started to lose momentum with venture capital investors about three years ago. Then, last year, the idea of “decentralized ledger technology” soared back into popularity under a new name, claiming to be the next chapter of the entire internet. But concerns about how blockchain technology works under the hood, which bogged down investors’ interest before, remain real and aren’t going away.