Imagine a small fishing village in Indonesia. For decades, their lives were based on uncertain catches determined by predatory parastatals. Then a DAO appeared, with investment poured in by crypto enthusiasts from around the world. This DAO freed the villagers from predatory intermediaries by giving them direct access to capital for sustainable fishing. They are now able to sell their catch directly on a decentralized marketplace and have just crowdfunded a new, eco-friendly boat. Empowerment, realized.

Now, picture this: the same village, but instead of a DAO, a mega-corporation swoops in, promising "Web3 powered" solutions. They extract the most valuable data from these quaint villagers and monopolize the marketplace. Wrapped up in the rhetoric of “efficiency” and “convenience,” they set the standard. The villagers aren’t just worse off, they’re more reliant than ever, ensnared in a new form of digital feudalism. Sounds familiar, doesn't it?

The contrast between these two scenarios isn’t only about the technology being offered, it’s about whose building the future.

Who Really Holds The Keys?

Web3, with all its potential for social good, decentralization, user ownership, and disintermediation, is at an exciting crossroads. We’re being told that 2025 is the year it goes mainstream. Layer-2 scaling solutions, interoperability protocols, improved UX—these are the signs that the infrastructure is finally maturing. Infrastructure alone doesn’t guarantee freedom. A shiny new freeway is either a path to utopia or serfdom, it all depends on who owns the tollbooths.

The question is no longer whether or not we will adopt Web3, but rather how we will do so. Will this tool really help people take power, and ignite a movement for economic justice? Or will it quickly devolve into a new playground for all of the same old corporate behemoths? This isn’t merely about technology, this is about power and who gets to control it.

Open Source or Closed Kingdom?

What give Heart to Web3’s promise is its open-source nature. It’s the digital equivalent of a community garden, where the whole community has the chance to cultivate, create, and reap rewards from their ingenuity. Just imagine the next Uniswap or Aave – DeFi protocols created by the community, for the community. These three are the foundations upon which a truly decentralized future can be built.

The allure of profit is strong. Yet corporations, with their resources and armies of lawyers, are already circling, seeking to create their own walled gardens within Web3. They’ll provide “easy-to-use” platforms, proprietary solutions, and centralized control, all while waving a “Web3 friendly” banner. Don't be fooled. A Web3 governed by the same five companies as before is just a Web2 with fancy new branding.

We need to do the hard work of actively promoting open-source development, backing independent creators, and pushing back against the allure of centralized “solutions.” It’s time to pick the open-source ethos that created the internet won over proprietary greed. Or, you can welcome in the closed kingdom out to drastically reshape it.

Inclusivity: Rhetoric or Reality?

As a Latino immigrant, I’ve experienced firsthand the ways in which technology can enable and disenfranchise. Web3 can help address the digital divide. It’s having an impact not only on opening access to financial services but education and opportunities to marginalized communities that have long been shut out. Imagine a low-income, single, working mother in the Bronx. With these tools at her disposal she can access micro-loans through a DeFi platform, avoiding predatory lenders and creating a better life for her family.

This potential will continue to be a pipe dream if we don’t start putting in the effort to make Web3 more inclusive. Let’s break down the barriers to entry and provide education and resources in various languages. We have to open up the value that technology can bring, beyond the well-resourced early adopters or privileged few. We need to address the gender and racial inequities that are damaging the tech sector. Join us to create a more decentralized, democratic, inclusive, equitable, and representative Web3!

If we’re honest, the prevailing crypto bro culture isn’t exactly inclusive either. We must instead intentionally create an environment that is more inclusive and welcoming, more representative of the diverse voices and experiences that should be celebrated on our stages. It’s not enough to pay lip service to inclusivity. It’s good news, but we need to do the work to ensure it happens.

Whose Web3 Will It Truly Be?

The future of Web3 is not predetermined. It's being shaped right now, by the choices we make, the projects we support, and the policies we advocate for.

According to the media, gaming is going to lead the way, with “play-to-own” models and immersive integration with AI all the rage. DeFi is becoming "more accessible." Tokenization, CBDCs and institutional blockchain adoption are all booming. At what cost?

The potential of Web3 – a more user-centric, transparent, and equitable internet – is right there in front of us. That takes watchfulness, action, and a dedication to creating a more equitable tomorrow. Let’s not miss the opportunity to ensure that this transformative technology doesn’t turn into one more vehicle for corporate domination. Together, we can create a Web3 that really is of the people, for the people, and by the people. Our future depends on it.

  • Support Open-Source Projects: Contribute to DAOs, donate to open-source developers, and advocate for open standards.
  • Educate Yourself and Others: Learn about Web3, understand the risks and opportunities, and share your knowledge with others.
  • Demand Decentralization: Question centralized "solutions," support projects that prioritize user ownership, and advocate for policies that promote decentralization.
  • Get Involved in Your Community: Join a DAO, participate in online forums, and connect with other Web3 enthusiasts.
  • Advocate for Responsible Regulation: Support policies that protect consumers, prevent fraud, and promote innovation.

The promise of Web3 – a user-centric, transparent, and equitable internet – is within our reach. But it requires vigilance, activism, and a commitment to building a better future. Let's not allow this revolutionary technology to become just another tool for corporate control. Let's build a Web3 that truly empowers the people. Our future depends on it.