Wood: The internet enabled unprecedented consolidation of centralized power
Gavin Wood · Ethereum Co-Founder Gavin Wood On What Web3 Is Actually Good For · May 26, 2022 · at 6:02
Ethereum co-founder Gavin Wood explains why he believes existing institutional power structures centralized around communications tech.
0:00 / 0:15exact quote · 15.2s
▶ Watch the full episode on YouTube → 720p mp4 · rendered on demand · StarZero watermark
“I think there is a natural tendency towards those in power to consolidate that power. And I think the internet provided a really effective means to consolidate power on a scale not seen before.”
quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →
More from Gavin Wood
Wood: Social media retention relies on network effect inertia, not quality
“Look, I mean, people are hooked, right? And they're hooked because of the network effects. It's super, there's huge amounts of inertia. It's not that it's not that the product is necessarily is necessarily, like, so amazing that the individuals are using it pu…”
Wood: 98 percent of Ethereum dApps are not actually decentralized
“If you, half of the, more than half, 98% of the dApps on Ethereum are not really decentralized.”
Wood: Electing politicians cannot fix global societal trust issues
“I don't believe electing a politician is going to do that at all. Like, not a chance. I reckon the world had a pretty decent chance with Obama, and not much changed, right? He got through a, you know, a healthcare bill that was really just US-centric, and that…”
Wood: Bitcoiners skeptical of Web3 focus too much on NFT hype
“I suspect that the Bitcoin people that are not super keen on the web three people are probably just on the web three movement. Maybe Think of it a little too much in terms of the you know, the NFT hype stuff, rather than the underlying let's say social and tec…”
Wood: Polkadot will underpin a new decentralized social networking protocol
“Yeah, I mean, this is a collaboration. And I'm happy to sort of announce that, you know, Polkadot is, is the, you know, sort of underlying technical framework that you know, this will be implemented upon.”
Wood: Centralized platforms dictating online discourse stifles technological innovation
“As long as we have only, you know, three or four places in the Western world at least, where this discourse is happening and therefore three or three, three or four centralized organizations that get to dictate the rules of the discourse and the forum, the mec…”