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Weekend of June 17, 2022 – Hour 2

Bitcoin Crypto Cryptocurrency  - satheeshsankaran / Pixabay© by satheeshsankara

Tech News and Commentary

Dave and the team discuss an employee revolt at Coinbase, ads playing when TVs are off, Instagram changes, AR and Stranger Things, a chip maker’s fine being dropped, Microsoft’s sleeping tabs, podcast listening and smart speakers, PS4 new titles going away by 2025, the smart kitchen, and more.

Michael – didnt say where hes calling from or how he listens – but used the AskDave button on our site and asked: “I was wondering if you could explain the difference between Web 2.0 and Web 3.0. I know a little bit – enough to dabble a little in purchasing cryptocurrency. But not enough about it to explain it to someone like my parents.”

Michael, the short way to explain it is Web2 is centralized, and Web3 is decentralized. The longer way to explain it is “it’s still a solution looking for a problem.”

Web2 is the internet as you know it today, where you can start a blog, upload a video to YouTube, and generally not just consume, but actively create parts of the internet.

So far the only real world use of Web3 are cryptocurrencies and they have failed to deliver on any of their promises so far. The most popular ones are not really all that private unless used in a very specific way, they don’t work as tax havens anymore, they’re not immune to inflation, the ones pegged to fiat currencies don’t stay pegged, they’re mostly exchanged via a centralized exchange rather than directly, and exchanges are starting to discover why certain fiat economy rules were put into place in the first place and adopting the similar measures.

Web3 should allow people to trade with each other directly, and it should allow for a shared ledger of not just commercial transactions but other information, meaning that there wouldn’t be a central database but a distributed shared ledger that should be more resilient.

In the real world, there haven’t been any solid, widespread use cases for the technology yet outside of cryptocurrencies, and if you check technically inclined forums like Y Combinator’s Hacker News you’ll see lots of skepticism from real world professionals.

Sooner or later we’ll find better real-world uses for a decentralized, tamper resilient ledger, but right now Web3 is mostly used as a term that people use to sell fantasies of the future, not unlike the old promise of an immersive, almost real VR world vs the reality of “oh, I have to sit in one place and my character in the game doesn’t move at all.”

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Written by Dave Graveline

Dave Graveline is the founder, Host & Executive Producer of "Into Tomorrow" in addition to being President of the Advanced Media Network".

Dave is also a trusted and familiar voice on many national commercials & narrations in addition to being an authority in consumer tech since 1994. He is also a former Police Officer and an FBI Certified Instructor.

Dave thrives on audience participation!

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