this post was submitted on 12 Jun 2023
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web3 was always a cryptocurrency scam and was doomed to fail. Federation is more a return to the early web with a way to link everything together to compete and get similar services to megacorps while distributing costs.
This is what I keep thinking as well. The "kids today" don't remember usenet, IRC, etc. All were decentralized systems capitalizing on distributed compute resources and moderation. They did have problems when it comes to direction, moderation, systems playing "nice", fragmentation, etc. But I still feel the plusses outweigh the minuses in a federated system. Unfortunately the public does like their "benevolent (until they aren't) dictators"...
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