Says CEO Fred Wilson. Why Web3 the future?

There has been a lot of controversy over the growth of Web2 and Web3 in recent years, raising concerns inside and outside the industry, especially when large companies control the ownership of their customers using the data. Fred Wilson, co-founder of Union Square Ventures (USV), posted an article on his own website about Web3.

USV was founded in 2003 by Fred Wilson and Brad Burnham and has always been regarded as one of the premier professional associations in the world. The organization has invested in a number of online businesses, and companies that have made significant strides include unicorns such as Twitter, Tumblr, Zynga, True, and Etsy. USV began to venture into the cryptocurrency space after investing in the Coinbase cryptocurrency exchange in 2013, and invested in several well-known positions including Polychain Capital, Algorand, Protocol Labs, and Blockstack. .

Then Rhythm BlockBeats will translate the investment information from USV into Web3 and see how this fisherman sees the now popular Web3.

There has been a lot of talk and talk on Web2 and Web3 over the past month and many critical voices have asked for Web3, but it has also been helpful in stirring up controversy and skepticism. But to some Web3 fans on Twitter, it reminds me of the missionary process.

After all, Web3 has to keep its promise, which also means that what it creates can bring new value to people. I don't believe that will happen, and the important thing is that recognition can only show whether it is good or bad.

And it all comes down to the database after application. When a database is managed by a single entity, such as a large technology company, the main business power rests with the owner or administrator of the database.

The power of this business cannot be built around data assets if the data is not managed and managed by a business and is open, truly open to help everyone get.

And we can see that impact in the fastest growing area of ​​Web3. For example, in the field of decentralized finance (DeFi), hundreds of financial applications have been developed by Ethereum. to learn. Yes. You can switch between apps and store and access your data in your wallet at any time.

However, we'll continue this discussion until the team develops similar experiences for a wide range of consumers and businesses, and the good news is that now there are thousands of groups forming new Web3 groups.

The above tools got better and better with the addition of the best vendors and developers, reminiscent of the early days of Web2 from 2001 to 2003. At that time we had just started USV and had very little money from startup because no one was willing to do it. pay for our business plan. But then we proved that the marketing scenario we drew up was true and this time we figured Web3 would.