This Web3 explainer made it click for most people. Though its simplicity is admirable, it's incomplete. Web1: Read-only Web2: Read-write Web3: Read-write-own

When I read this by article by Eshita below, something clicked.

Most of us read this at a phase where we're trying to get a first understanding of Web3. It does just that: simple, quick, jargon-free definition of Web3. Great. We needed that. As simple is way harder than complex, so hats off to the author.

However, as you level up your understanding, you bump into its boundaries.

In Web1 and 2, we start to see how Web3 changes each of those parts too:

• Web1: Read-only → Web3 also changes the way we read. On-chain reading like learn2earn, different virtual interfaces, metaverses... Maybe the reading experience is what's going to change.

• Web2: Read-write → Web3 magnifies the incentives to write. More than ever, we write to connect and to earn. We were already able to own content e.g. own domain names and Wordpress sites.

But I can also see how the 3rd part can just as easily be replaced by some other element of Web3.

• Web3: Read-write-own. → The key difference highlighted here is ownership. That 𝗶𝗹𝗹𝘂𝘀𝘁𝗿𝗮𝘁𝗲𝘀 𝘁𝗵𝗲 𝗺𝗮𝗶𝗻 𝗱𝗶𝗳𝗳𝗲𝗿𝗲𝗻𝗰𝗲 𝗼𝗳 𝗷𝘂𝘀𝘁 𝗼𝗻𝗲 𝗯𝘂𝗶𝗹𝗱𝗶𝗻𝗴 𝗯𝗹𝗼𝗰𝗸 of Web3: digital ownership.

The author points out: 'ownership is one of the biggest features of Web3 - participants have full ownership over their content, data and assets'. This can include many things like distributed ledgers, proof of authenticity, the value economy, ...

To capture the full realm of Web3, 'own' might be too narrow. It can also feel contrarian, when we look at how ownership is redefined, and open source and closed IP might no longer be the best ways to remain competitive.

'Own' could just as well be replaced by one of these elements:

• Read-write-𝗲𝘅𝗽𝗲𝗿𝗶𝗲𝗻𝗰𝗲: virtual worlds, new creative canvases and media, immersive and digital experiences

• Read-write-𝗰𝗼𝗼𝗿𝗱𝗶𝗻𝗮𝘁𝗲: massive online coordination, Decentralized Autonomous Organizations (DAO), DAO tooling like Discord, governance tools, ...

• Read-write-𝗺𝗼𝗻𝗲𝘁𝗶𝘇𝗲 crypto, Decentralized Finance, tokenized economy, creator economies, the evolution of jobs and gigs

• Read-write-𝗶𝗻𝗰𝗲𝗻𝘁𝗶𝘃𝗶𝘇𝗲: new modes of value, tokenization of transactions, social tokens, incentive tools like Coordinape, decentralization of power and authority, permissionless systems

𝗠𝘆 𝗰𝗼𝗻𝗰𝗹𝘂𝘀𝗶𝗼𝗻: This definition's starting point is a simple explainer from a user's perspective. 𝗜𝘁'𝘀 𝘁𝗼𝗼 𝗲𝗮𝗿𝗹𝘆 𝘁𝗼 𝗵𝗮𝗶𝗹 𝗼𝗻𝗲 𝗻𝗮𝗿𝗿𝗼𝘄 𝗱𝗲𝗳𝗶𝗻𝗶𝘁𝗶𝗼𝗻 𝗼𝗳 𝗪𝗲𝗯𝟯. 𝗪𝗲 𝗻𝗲𝗲𝗱 𝗱𝗲𝗳𝗶𝗻𝗶𝘁𝗶𝗼𝗻𝘀 𝗼𝗻 𝗱𝗶𝗳𝗳𝗲𝗿𝗲𝗻𝘁 𝗮𝗯𝘀𝘁𝗿𝗮𝗰𝘁𝗶𝗼𝗻 𝗹𝗲𝘃𝗲𝗹𝘀, 𝗮𝗻𝗱 𝗮𝗰𝗿𝗼𝘀𝘀 𝘁𝗵𝗲 𝗪𝗲𝗯𝟯 𝗹𝗲𝗻𝘀𝗲𝘀. Definitions that demonstrate that unpacking the value of each element is needed, and recognize the starting point is part of the definition itself.