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Twitter founder Jack Dorsey has argued that a more decentralized internet won’t necessarily increase users’ power the way Web 3.0 proponents predict — it’ll just take that power away from Big Tech and put it in the hands of the venture capitalists investing in blockchain apps.

“[Web 3.0] will never escape their incentives,” he tweeted in December 2021. 

“It’s ultimately a centralized entity with a different label.”

What this means in practical terms is that, instead of spending time on websites (Facebook, Google, etc.) that own and monetize the content and data we create, we’ll use social networks, search engines, and other apps that use blockchains to let us control that data.

We’re already seeing elements of Web 3.0 emerge, too.

These include non-fungible tokens (NFTs), which use blockchain tech to help artists monetize and distribute their digital creations in new ways, and decentralized web browsers, which block ads and let users choose which websites can access their browsing data.

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