Web 3 Horrible Futures

22 March 2022

The decentralization horror case

Rape and child porn NFTs that cannot be policed or deleted
Drug and weapons money flows much more difficult to police
Impossible to freeze or impound assets of major international criminals
Re-anonymization of social media going back to the MySpace era with rampant spam, scams and bullying
Difficulty keeping private your wallet address, resulting in your wealth and transactions being public. There are a lot of potential horrors coming from this
- Being targeted by companies based on your spending patterns
- Being targeted by criminals based on your wealth
- Inability to keep your financial situation private causing disputes with friends and family

API layers like Infura and Alchemy innovate much faster than Layer 1/2 chains causing them to see +80% of all transactions and acting accordingly
- Monetizing user transactional data through ads and selling to third parties
- Abusing their position to raise fees
- Abusing their position to moderate content
Layer 1s are unable to scale sustainably and innovate quickly. The result could be the worst of Web2 and Web3 worlds. A new centralized internet built on grossly energy wasting protocols compared to existing solutions