The Emirates Palace in Abu Dhabi. April 28th, 2025. A “Royal Token Banquet” sponsored by Promax, which is actually a corporation that is wholly owned by Sheikh Hamdan Bin Mohamed Al Nahyan. Sounds glamorous, doesn't it? A conference of Web3 moguls, VCs and grand dignitaries, all waiting on baited breath to hear the announcement of some “game-changing program.” Beneath the glittering surface, a crucial question looms: Whose transformation are we really talking about?

Web3, at its fundamental level, brings with it the promises of decentralization, democratization, and a more equitable balance of power. It whispers of a world where individuals control their data, creators are directly rewarded, and financial systems are more accessible. Let’s not kid ourselves, today it usually seems more like a gilded promised land for the fortunate elite. Early adopters, tech-savvy individuals, and venture capitalists create the momentum behind the industry narrative. They are the ones who first enjoy the fruits of their labor.

Think about it. How many folks in developing countries, barely able to afford food and shelter, are engaging in DAOs or playing with NFTs. But how many other marginalized communities have the resources and expertise to understand and address the complexities of blockchain technology?

The upcoming summit in Abu Dhabi is a great illustration of this potential disconnect. Hosting a huge, invitation-only, insider event to rub elbows in the swank InterContinental Hotel—impressive as that would be—would create a dangerous echo chamber. Will these conversations truly address the needs and priorities of the people who stand to gain the most? A more equitable digital future is indeed possible! Or will it simply strengthen the current state of power? Or will it further enrich and empower the very few at the top of the pyramid? I think that we need to be asking ourselves a lot more about how we can open up that accessibility to everyone.

The term "Royal Token Banquet" itself feels tone-deaf. I get it, like I totally get the desire to convey a sense of exclusivity and prestige. Ironically, it highlights the growing chasm between the Web3 elite and the average person. It’s a wake-up call, exposing the fact that access to this technology and the opportunity it unlocks isn’t in reach for everyone. This is tantamount to Marie Antoinette mouthing “Let them eat cake” during the French Revolution.

True inclusivity doesn’t mean bringing in a handful of token delegates from underrepresented groups to dine in style at a gala dinner. It’s about intentionally creating a Web3 space that is open, inclusive, engaging, and meaningful for all. It’s about extending the promise of investment—of education, of infrastructure, of opportunity and mobility—to our most underserved communities. It's about creating user-friendly interfaces and applications that don't require a PhD in computer science to understand.

We need to ask ourselves: are we building a Web3 for the people, or just for the powerful?

While it is certainly encouraging that the summit’s focus was on collaboration in decentralized technologies, this collaboration must go further than the typical players. Community-driven governance is often referred to as a core tenet of Web3’s potential, but largely as a photo-op marketing buzzword.

We have to go beyond window dressing and adopt deep participatory governance approaches. This means:

Let’s say you have a Web3 project that connects willing lenders with small businesses in developing countries seeking microloans. Rather than relying on just financial institutions, the project can include meaningful participation of local community members in the loan approval process. By drawing on their expertise of the local economy and social fabric, we can arrive at far superior solutions. That's true community-driven governance.

The Abu Dhabi summit is a major, and possibly the last, opportunity. Not only that, it’s a landmark moment for the entire Web3 ecosystem. It’s an opportunity—one to help prove that Web3 is not all hype and speculation. It’s a moment to correct course and create a digital future that is more equitable and inclusive.

  • Token-based voting systems might sound democratic, but they can easily be manipulated by those with the most tokens (i.e., the wealthiest participants).
  • DAOs can be powerful tools for collective decision-making, but they often lack clear governance structures and are susceptible to internal conflicts.

We must ensure that the Abu Dhabi summit does not turn into just another rich people’s club that upholds the current power dynamics. Let’s use it as a springboard to transformation. This is an important milestone on our path to a genuinely decentralized and democratic Web3. The future of the internet, and arguably the future of global economics depends on it. Let’s commit together to close the gap, not increase the chasm. The alternative is too grim to contemplate.

  • Prioritizing diverse representation in DAOs and decision-making bodies.
  • Developing transparent and accountable voting mechanisms that prevent manipulation.
  • Empowering community members to actively shape the direction of Web3 projects.

Imagine a Web3 project designed to provide microloans to small businesses in developing countries. Instead of relying solely on the expertise of financial institutions, the project could involve local community members in the loan approval process, leveraging their knowledge of the local economy and social dynamics. That's true community-driven governance.

Action Required: Building a Web3 For All

The Abu Dhabi summit presents a crucial opportunity. Not just for Promax, but for the entire Web3 ecosystem. It's a chance to demonstrate that Web3 is more than just hype and speculation. It's a chance to build a more equitable and inclusive digital future.

Here's the call to action. What can you do?

  • Demand transparency and accountability from Web3 projects and organizations. Ask tough questions about their inclusivity efforts and governance structures.
  • Support initiatives that promote Web3 education and access in marginalized communities. Donate to organizations that are working to bridge the digital divide.
  • Advocate for policies that ensure equitable access to Web3 technologies. Contact your elected officials and urge them to support policies that promote digital inclusion.
  • Build, create, and innovate with inclusivity in mind. If you are a developer, designer, or entrepreneur, make sure your projects are accessible and relevant to a diverse audience.
  • If you are attending events like these, challenge the status quo. Ask the hard questions, push for diverse voices, and advocate for a more equitable future.

Let's not allow the Abu Dhabi summit to become just another exclusive gathering that reinforces the existing power structures. Let's use it as a catalyst for change, a turning point in the journey towards a truly decentralized and democratic Web3. The future of the internet, and arguably, the future of global economics, depends on it. Let's choose to bridge the gap, not widen the divide. The alternative is too grim to contemplate.