Does Web 3.0 have a future?

[posi]

What are your thoughts? Do you still think Web 3.0 have a future even though smart contract platforms are becoming less-decentralized? Will crypto projects have to pay a heavy price to obtain decentralization when governments are as aggressive as ever towards crypto/Blockchain tech? Your input will be greatly appreciated. Thank you very much.

Web 3.0 is another tool to hype the crowd.

I don't believe that a project, a website that is developed by a centralized team can be actually decentralized. Even their team try to use Web 4.0, Web 5.0 or Web n.0, if it is owned and controlled by a centralized team, forget about decentralization of that one as well as be prepared for centralized censorship.

The level of centralization and centralized censorship will be depended on core approach of each developer team and each co-founder team. We only can wait to see their works to assess their centralization and censorship.

Think about that similar to currencies that are launched by governments and central banks. From fiat currencies to CBDCs, do we believe that CBDCs are more decentralized than fiat currencies?

Couldn't be more true, web 3 will be the next trend of the market but not to replace web2 or help us protect personal data from service providers. That is true in theory, but how can a project become decentralized when it is created by centralized people? Web 3 will probably be the next tool to hype like they did with NFT, DEFI...apart from bitcoin, from now on i think any project created will be centralized we will no longer see privacy focused projects like bitcoin or monero.

[vv181]

According to the Ethereum site, "At its core, Web3 uses blockchains, cryptocurrencies, and NFTs to give power back to the users in the form of ownership."

The key point is the one that I bolded above. Back to OP, how could we achieve Web 3.0 promises while centralization is getting tolerated? It is contradictory to the meaning of Web 3.0 itself. So in order to preserve the dream, truly "owning" a thing that is related is a prerequisite. If we look at what happens in the current ecosystem, we must ask ourselves do we own and have power over web3-related things, whereas, we usually connect to the system with a third-party entity and the form of the consensus are adhering to a regulation that obeys governments entities(ETH OFAC compliant).

Not only users must own their data on Web 3.0, but they must also be able to enjoy complete immunity from governments' actions against their freedom and privacy. Unfortunately, most dApps' interfaces are hosted on centralized servers, making censorship-resistance a distant dream. Some would say that doesn't matter since smart contracts still live on the Blockchain. But when the network's consensus becomes concentrated on the hands of a few, then it would be easy enough to censor transactions linked to such smart contracts. It's only been 7 years since ETH's inception, so I'd say Web 3.0 is still in its infancy. Maybe there's still hope for this new trend after all? Just my thoughts

First of all, I don't really get the gist of complete immunity that you mean, seems like an exaggeration. If we are gonna stick with what the Ethereum site definition, there is no way that we should be completely reliant on the ETH developments promises. They might be a pioneer but that doesn't mean they need to be long-lasting. If there is a better option, we should thrive for it. It is indeed that the ecosystem may still be in its infancy, nevertheless, we can take the big picture that the majority of the communities are not diehard toward the idea. So, long road ahead, the community itself must initiate with power to the user and decentralization in minds.

[Abiky]

Couldn't be more true, web 3 will be the next trend of the market but not to replace web2 or help us protect personal data from service providers. That is true in theory, but how can a project become decentralized when it is created by centralized people? Web 3 will probably be the next tool to hype like they did with NFT, DEFI...apart from bitcoin, from now on i think any project created will be centralized we will no longer see privacy focused projects like bitcoin or monero.

Did you mean "how a project can be decentralized when it is created by people with publicly-known identities?" If that's the case, then you're absolutely correct. No project can be truly decentralized if the persons behind it (developers, founder) are widely known to the public. They need to stay anonymous to help protect censorship-resistance at all costs. When identities are known, governments can prosecute the persons behind the project to get what they want. That's not possible with projects whose creator or developing team are unknown.

Consider how no one has been able to stop Bitcoin because the creator decided to remain anonymous. If Satoshi decided to reveal his identity, it would've been game over for Bitcoin. Web 3.0 can still have a future if developers decide to step up to the game to help defend censorship-resistance for good. Getting out of centralized infrastructure is the first step towards true decentralization. Unfortunately, most developers want to attract investors into their projects so the only way they can do that is by revealing their identities to the public. Otherwise, investors will think the project is a scam. Web 3.0 is just starting to blossom, so let's give it some time to see what happens. Just my thoughts