Episode 141: Unpacking Web3 Hype

Carolyn and Seth dive into the hype around web3, the concept of decentralizing the internet using blockchain. Starting with a quick history of web1/web2.0/web3, the two define the web3 concept as a shift toward ownership of content rather than production of content. The technology being used for web3 concepts has already launched cryptocurrencies and NFTs, but there is still a challenge in finding a killer app, especially for businesses. The big hurdle for web3 will be in redefining technology protocols now that they are already ingrained in society and business, and the best advice for companies right now is to make sure they have processes for monitoring and evaluating web3 and other emerging trends in order to stay ahead of the curve.