[onebot]

Both federation and p2p still require some kind of centralization, currently. Furthermore, there is no decentralized governance nor incentive mechanisms. "Web3" is simply bringing a decentralized approach to p2p, governance and operations. Doesn't necessarily mean a token that is traded on an exchange. But what blockchain (and more importantly the consensus models) bring is the ability to create a decentralized FaceBook, WhatsApp, Insta, etc. allowing anyone participating in the operation of the network and anyone able to consume the network without anyone profiting in the middle. I think where opponents get hung up is the incentive mechanisms. Today the good is so overshadowed by the scam/bad. But if you want a good example of a shared utility build on blockchain look at Helium.com. It is a global wireless network operated by people that host their own hotspots--a true utility model. When you look at some of the services we use on the web, they are utilities and there are real value in both delivering them and consuming them. This is where web3 is trying to tie that all together so some giant company isn't in the middle monetizing both sides.

[cbm-vic-20]

> some giant company isn't in the middle monetizing both sides.

It seems with Helium, it's not some giant company in the middle monetizing both sides, but the fiat/HNT exchanges that are doing that.