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Opinion
Tyler Cowen

What’s the Best Use for Crypto? Let AI Figure It Out

Web 3.0 is mostly forgotten now, but the ideas behind it will regain their relevance as bots become more common.

AI can make all the necessary connections. 

AI can make all the necessary connections. 

Photographer: Christinne Muschi/Bloomberg

Remember Web 3.0? No? Allow ChatGPT to refresh your memory: Web 3.0, according to GPT-4, is “the next frontier in internet technology, characterized by decentralized, user-centric applications that prioritize data privacy and foster seamless, interconnected experiences.”

Today Web 3.0 stands as one of this era’s most discredited ideas, an “innovation” that was hyped for years — until crypto prices collapsed and brought down many crypto projects with them. As with crypto, advocates for Web 3.0 have never quite been able to make a real-world use case for their technology.