I have gone down the web3 rabbit hole and while it is deep, it’s been super rewarding! So what exactly interests me about web3?

Community

I re-entered the wide world of web3 about 2 months ago and have been blown away by the willingness of the community to help each other out. This is the first time that I have felt that I belong to a tech-focused movement and I have worked in Tech for 4 years. Folks in the ether are very generous with their time and sometimes their crypto (when you just a drop of xDAI to successfully bridge some tokens over from the Ethereum blockchain). It is reassuring to see people come together for a united purpose at a time when the going trend is to be very self-focused. Everyone can participate to build community and assets that enrich others’ lives.

DeFi

The opportunities afforded by accelerating number of Decentralized Finance (DeFi) protocols across multiple blockchains is amazing. I love that DeFi allows everyone the chance of making high returns (across various risk profiles), while in Tradition Finance (TradFi) you can be grossly limited in your potential returns through lack of access. The learning curve is a bit steep, but with time (sooner than later), everyone will have even easier access to the tech/knowledge required for successful investment in DeFi e.g. easier bridging across blockchains and cheaper transactions. There are protocols for all aspects of finance so that profits from borrowing and lending are shared more evenly across regular people instead just to large corporations. Soon, someone who needs a mortgage, but does not have a sufficiently high credit score will be able to turn to web3 (like Alchemix) instead. Folks can leverage DeFi to build and grow their wealth through endless avenues, that are not available through TradFi. DeFi is an extremely powerful movement that has barely begun to enrich people’s lives and I am very excited about its future.

Tech

An increasing number of developers are leaving larger web 2.0 Tech corporations in droves for web3 companies and DAOs due to the compelling opportunity to mold a better world for web3 creators and consumers. I started programming in high school and steadily expanded this skillset throughout college and grad school, cumulating into being a Principal Data Scientist at a pharma company. I have seen how slow large corporations can be to embrace change and it is typically the price paid for access to expensive resources. However, there are many web3 startups/companies that challenge the status quo, by championing their audience first and shipping new tech very quickly once the decision has been made. It will be a challenge to continuously deliver on apps that are truly decentralized as these are difficult to change and improve upon. But, the creativity and ambition exemplified by web3 developers is exhilarating to witness and I cannot wait to join in.

DAOs

DAOs are also a fascinating development towards the future of large community management. DAOs allow innovation to be baked into the community through flat hierarchies so more people can partake in decision making and autonomous smart contracts to eliminate manual labor.

In conclusion, I have shared how I got re-introduced to web3 and why it interests me. Web3 is exciting because it has/will technically and ideologically push the status quo. It is a once in a lifetime opportunity to build wealth and community.