Web3 advocate and author Alex Tapscott on the future of blockchain mass adoption
Web3, blockchain, crypto and mass adoption were major buzzwords in 2021 and 2022, but the public interest in the terms fell to the wayside over the last year as media headlines narrowed their focus to the now defunct FTX exchange and the trial of its founder, Sam Bankman-Fried.
Fast-forward to the present, where media headlines are focused on pending spot Bitcoin exchange-traded fund applications, more than 100% year-to-date price gains for Bitcoin (BTC) and a revival in the nonfungible token (NFT) markets.
Perhaps, Web3 is back.
On Episode 14 of The Agenda podcast, hosts Ray Salmond and Jonathan DeYoung spoke with Alex Tapscott about his deep views on Web3 and how the tech and ideas backing it will “transform the existing industries.”
Revolutions catalyze transformation, but these changes tend to happen gradually rather than all at once. Tapscott detailed the impact he sees Web3 having on various industries with The Agenda and in his new book, Web3: Charting the Internet’s Next Economic and Cultural Frontier, where he breaks down and explains all things Web3, from NFTs and decentralized autonomous organizations (DAOs) to the metaverse.
While NFTs, DAOs and the metaverse are often presented as full-on replacements for the current structures in use, Tapscott explained that the ideas and the tools offered by Web3 can more effectively be integrated into existing industries:
Related: Meet the 13-year-old student selling sneakers for Bitcoin: The Agenda podcast
Regarding the regulatory challenges that continue to create hurdles for the Web3 industry and whether or not blockchain “fixes everything,” Tapscott referred to a conversation he had with Andreessen Horowitz general partner Chris Dixon. Drawing from his
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