We are going to have to start calling what we do web5. Because most of web3 has not just been largely come to be centralized and inefficient, but also associated with a great deal of ponzi-dynamics and speculation rather than utility. And we would like to communicate that what we’re building is part of a better web, a more modern web with different fundamentals:
I think part of what separates the notion of Web4 from Web3 is focused largely on how the overall utility is deployed to the people and whether it primarily goal is seeking to empower grassroots users who derive real world value and benefit from using the platform in the daily lives.
Conceptually I feel if we identify as Web4, it’s that extra dimension that focuses on providing meaningful project in the hands of the people. If anyone remembers Gridcoin - a project which mints and distributes cryptocurrency in relation to the processing power a network participant directs toward data-driven analysis and scientific discovery - and how actively contributing to the heavy lifting required by data modelling felt as though you were part of something greater than the individual.
It’s the intertwining of those sorts of ethics which will inform the future of where the decentralised Web goes and I’m proud to be a part of a project like Intercoin which strives to have these ideals at its core. Detaching from profit driven mindsets and the pursuit of monopoly to focus on ensuring that sharing and community engagement is paramount will be the only way humanity truly progresses.
I think this one example shook lots of people. I know when I first read it I was shocked.
Intercoin = Web4