Is Web3 already a disappointment?

In an edifying report on Web3, a research firm explains how the dream of a decentralized Internet is already unrealizable.

“Web3 contains the seeds of a dystopian future”reported this week the analyst firm Forrester Research. While 2021 has seen the explosion of NFTs, cryptocurrencies and metaverses, the firm draws up a placid observation of the situation: we are still far from the decentralized web dreamed of by Big Tech. Behind the concept of Web3 often hides a mountain of more or less vague concepts, which especially delight idealistic investors and scammers.

The impossible decentralization of the web?

Available on Forrester’s official site for the modest sum of $1,500, the analysis firm’s report first criticizes the impossibility — for the moment — of rushing into Web3, this idea of ​​a Decentralized internet owned by its users. At the time of GAFAM, this ideal based on the use of blockchains is still far from working, and it will undoubtedly come up against the reality of uses very quickly. Even when it comes to cryptocurrencies, blockchains would never be tamper-proof, the firm reports. The smart contracts and open source codes won’t change anythingsome malicious people will always find a way around the system.

Definitely very pessimistic about crypto finance, Forrester also paints a less idealistic balance sheet than expected about non-fiat currencies: as with conventional wealth, it is a small group of individuals who own the majority of cryptocurrencies of the planet : “As long as the financiers do not turn off the taps of this cash machine, the Web3 phenomenon will continue to see scams flourish that will overshadow more rewarding projects”. Currencies based on the blockchain, but which would not work without the support of centralized institutions, underlines the study firm.

What should we retain from the balance sheet drawn up by Forrester? In reality, it seems that Web3 is less pessimistic than the research firm expects. Admittedly, the idea of ​​a decentralized Internet is still far from being a reality, especially at a time of the hegemonic reign of GAFAM, which makes rain and shine with our personal data. However, the project mainly carries the idea of ​​a more ethical webmore secure and more respectful of its users, which, let’s face it, will not happen overnight.

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