For true believers and promoters of Web3, blockchain is about far more than cryptocurrency trading. In their eyes, blockchain technology is the veritable embodiment of the next evolution of the internet. Crypto’s many scandals, the unfulfilled hype, the incidents of fraud and regulatory evasion are seen as merely unfortunate collateral damage on the way to a more innovative and inclusive future.
The venture capitalist and Web3 advocate Chris Dixon captured this narrative neatly in his book, “Read Write Own,” by distinguishing two visions for blockchain and digital assets — the “casino” and the “computer.” For Dixon, the casino represents those focused on speculative, short-term financial gains. The computer, by contrast, is “the far more serious of the two, and it is motivated by a long-term vision. This group’s practitioners understand that the financial aspects of blockchains are only a means to an end, a way to align incentives toward a larger goal [which is] a better internet.”
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