<h1>Web3 A Buzzword Far From Being Reality</h1>

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Web3 is a hot topic right not much like the metaverse was a few months back. There's no real definition of web3 is and that's because that definition is still be shaped. In the minds of many web3 is a marketing term to jump on to further boost their business. The most recent... Youtube who currently has a new position open called director to lead web3 push.

### What I Envision Web3 To Be

I wrote about this a few times in the past such as in article [Web3 Will Be Superior for User Experience](https://leofinance.io/@bitcoinflood/web3-will-be-superior-for-user-experience) and [Web2 Is being phased out](https://leofinance.io/@bitcoinflood/web-2-is-being-phased-out)

The general idea of these articles is that privacy will be restored to people and anonymity will be a driving force for transactions. It will restore power and value back to the people that use the platform in both creating content and for those who interact with the content. Instead of the mega corp taking all of the money the money will be divided up to all active members because without them that platform would simply be an empty shell with no value.

### What Youtube Envisions Web3 As

We see that Youtube is attempting to push into the live streaming and gaming space but to be honest with you the live streaming on Youtube still greatly sucks compared to the big daddy Twitch. Sure there are some other web3 type platforms like [Theta](https://www.theta.tv/invite/dhqkbbz) and VIMM but they are far from ever being any real competition to the likes of Twitch or even Youtube.

Here's the thing in the past 15 years there's been plenty of alternative sites that offer revenue back to it's users which try and take on big sites like Facebook, Twitter and Youtube. All of these fail or are microscopic in comparison. The only ones that have made a dent are TikTok which made the likes of Instagram and youtube to create reels and shorts since they where losing so much market share to TikTok.

Now that they are starting to lose market share to the birth of web3 they are starting to build it out themselves and make sure they are ahead or at least at pace with the changes. The core thing missing from them however is the restoring of power back to people. Community and groups is going to be a very important factor and make no mistake about it an algorithm is incredibly important which is what many of these web3 platforms lack. Instead you're slammed with spam, bad actors and just pure junk. This will be one of the biggest things web3 will need to figure out a smart way to address if it's ever to take real shape.

### The Focus Of Web3

This is a general out of the box section that doesn't deal with Youtube. In general I feel like we are moving towards more life streaming and community big or small. But there's a big cry for it to be decentralized and start restoring wealth back to creators and users of these platforms. There are a few examples I really love so far that are at least starting to pave the way for this.

[Theta.tv](https://www.theta.tv/invite/dhqkbbz) is what I would call one of the best cases of a shaping web3. With a CDN network that thrives on nodes but also viewers. Every viewer becomes part of the CDN network for that channel or you can run the node software at any time on your computer and not which a stream and help the network. All of this rewards you with their token for doing so.

Much like Bitcoin was the first crypto there will be a main platform that most likely will explode in popularity. From there we will have scams of course, projects which innovate and over a course of time come up with better and better options that shape web3. These things take time but I believe in the next 3-5 years we will start seeing that major shift.

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