# Why Web3 Matters

By [Amos Ductan](https://paragraph.com/@aductan) · 2022-07-01

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Unless you’ve been living under a rock you’ve probably heard the phrase “Web3”. It’s a term that has many different meanings to each person that hears it but I think there is a rather simple way to understand what Web3 aspire to be. If we focus on the core values Web3 is meant to instantiate, we can develop a better picture of what it aspires to be and why it should matter to you and me.

At the most basic level, Web3 attempts to facilitate more fairness between consumers and the platforms they use. This is in contrast to the existing “Web2” model where platforms try to extract as much value from their users as possible while giving the minimum value back in return.

When I say platforms, I’m referring to the dominant ecosystems that have captured a large share of our collective consciousness…Facebook, Instagram, Twitter, Google, etc. These platforms derive their value from aggregating “user generated content” and instead of sharing the wealth created from all of this content, they are having it flow to a small number of shareholders. Interestingly, these are mostly publicly traded companies so anyone can invest and get exposure to the upside but that is not the same as having true ownership and governance rights over the platform and that’s where Web3 is different.

Web3 creates the opportunity for a more equitable distribution of the value and wealth created when you aggregate the contributions of millions and even billions of people. Imagine a world where a user can receive some financial benefit from their individual contributions to a platform instead of just “likes”, “follows” and “subscribers”.

This world is coming and Web3 is the gateway!

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*Originally published on [Amos Ductan](https://paragraph.com/@aductan/why-web3-matters)*