Disclaimer: This article is intended to convey more market information and does not constitute any investment advice. This article only represents the author's opinion, not the official position of MarsBit.
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Source: Footprint
Dec 2022, Daniel@footprint analytics
Web3 is known as a decentralized solution, which can solve all problems related to Web2, such as monopoly of technology giants, invasion of privacy and error information.
On the other hand, some groups believe that token will have a negative impact on our online behavior, and emphasize that the Web3 project may have illegal or immoral behavior.
On November 30, Web3MQ held a Twitter space with Footprint Analytics, Mises, Magipop and dappOS to discuss Web3's commitment to building a better network in the future, despite the seeds of dualism.
Here are the main gains.
Does Web3 make evil or illegal behavior possible?
Opponents of Web3 and cryptocurrency often cite numerous scams and claim that this technology makes fraud and illegal activities easier. However, cryptocurrency enthusiasts believe that this technology can actually improve the detection and action of fraud.
Illegal acts can be carried out using any technology. For example, legal tender is widely used in money laundering activities, not just cryptocurrency. In fact, cryptocurrency is easier to track than cash and paper currency.
"You can use any technology or tool to do evil. For example, our founder always mentioned a copyright case about the file sharing tool in Kazaa, Australia. The judge of the case cited the use of the photocopier as an example: the photocopier can be used to copy documents in the office, or it can also be used to pirate books." said Luke of the Moses Browser.
"When it comes to Web3, we have several evil examples: countless roll payments and FTX problems. But when it is used to its maximum potential, we still believe in the technology behind the blockchain and the future benefits." Footprint Analytics Alex Cooper said.
Is open source a solution? Do developers affect code behavior?
In the cryptocurrency ecosystem, people often repeat that code is the law. In this way, technology is put into an objective world, and the subjective views of network participants cannot affect the process of action. However, code is written by real people, and it can be influenced by their worldview.
Open source projects can be used as a solution to some extent, because everyone can review the code. But this requires everyone to learn programming so that they can read smart contracts and find defects or biases in them.
"In the Web3 world, the ability to understand code is very important, because code is the law. The first thing we know about blockchain is that it is an account book that anyone can check. Those who understand code are like lawyers in the Web3 world". Luke said.
"As a licensed lawyer, I can't agree with the statement that code is law. Code can't satisfy due process. Open source code is very helpful. Everyone with professional knowledge and time can check the code. But this open and rolling review still doesn't mean that the consequences from the code can control the legal rights of all parties." Darren Mayberry of dappOS said.
Does Web3 solve or deepen the problem of incorrect information on the Internet?
In the current Internet, error messages are everywhere. It is said that the best way to influence social behavior is to flood the network with misleading content, rather than reveal the truth.
Decentralization and tokenization can be a way to take advantage of this problem, which makes it very expensive for malicious actors to spread wrong information online. However, the main problem is how to verify which information is true and which is not.
"There may be some ways to give the true source, and perhaps compare it with the source information. Do you think it is true? Or it comes from a known information source? But I think it is quite difficult, because people themselves are one of the operators in the community, in logic and contract." said Melito of Magipop.
"It would be great if we could put facts on the blockchain and only publish facts, but the question is how can we verify that everything we put on the blockchain is facts. Is it even possible to get rid of the spread of error information while maintaining complete decentralization?" Alex Cooper thinks.
This article is contributed by the Footprint Analytics community.
Footprint Community is a global, interactive data community, where members use visual data to jointly create insights with communication power. In the Footprint community, you can get help, establish links, and exchange relevant learning and research on blockchain such as Web 3, the metauniverse, GameFi and DeFi. Many active, diverse and highly involved members encourage and support each other through the community, and a worldwide user group is established to contribute data, share ideas and promote the development of the community.
