During the 2008 financial crisis, with banks collapsing, life savings disappearing and the government swooping in to bail out those responsible, Americans lost faith in the institutions we relied on for our future.
Against this backdrop of disappointment and anger, an engineer (or possibly multiple engineers) going by a pseudonym proposed a distributed system to allow individuals to trade directly without needing to trust a third party as middleman — or even needing to trust the other people involved in the transaction. Instead, the blockchain, an unchangeable digital ledger, would provide accountability by publicly recording transactions. Exchange on this system would use cryptocurrency, the first entirely digital money.
Then in 2014, tech-forward entrepreneurs tapped the blockchain to be the foundation of a new vision for the whole internet: Web3, a fully decentralized online ecosystem that could replace governments, banks and Big Tech gatekeepers like Facebook and Google with a digital-only economy. In the future they promoted, no one would have to trust anyone again.
Today the Web3 concept has taken root in tech and in pop culture, spawning endless memes and making the tech-agnostic wonder whether they should buy digital animals or invest in something called Dogecoin. News stories now routinely declare crypto “mainstream.”
It’s no surprise that the crypto vision has resonated strongly with Americans. Trust in government has hit record lows, and financial independence...
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