Is web3 a scam? | Jan Liphardt | TEDxBostonStudio - Deepstash
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What is Web3?

What is Web3?

There are various opinions and definitions on what Web3 is, let's have a look to a few mentioned:

  • "A decentralized online ecosystem based on blockchain." - Gavin Woods
  • "An internet without Amazon, Google, and Microsoft." - Michael del Castillo, Forbes
  • "More a marketing buzzword than reality." - Elon Musk
  • "Something new and exciting which somehow involves blockchain."


225 reads

Blockchain Use

Blockchain Use

Blockchains are extremely painful to use for various reasons:

  • Limited transactions
  • Congestion
  • Cost
  • Limited compute
  • Limited storage

But despite that it has three features which make it absolutely unique:

  • Trustless event ordering
  • Transparency
  • Immutability

"Blockchain makes sense to use when trustless event ordering, transparency and immutability are absolutely essential."


198 reads

Where/when do Trustlessness and Transparency Matter?

Where/when do Trustlessness and Transparency Matter?

Let's have a look to different situations where Trustlessness and transparency really matter:

  • International borders
  • Powerful monopolies
  • War, disagreement, instability, mistrust
  • Employees and customers scattered around the world
  • Absence of courts and police
  • Corruptions, theft


170 reads


"The more of these attributes come together, the more of a compelling blockchain and web3 usecase there probably is."



158 reads

1st Practical Examples on Web3 Use

Let's say you spot a project which offers a 18% guaranteed returns using web3.

Now you should ask yourself:

  • What do high guaranteed returns have to do with trustlesness, immutability, and transparency?

Nothing... In this case we see a lack of basic connection.


147 reads

2nd Practical Examples on Web3 Use

In this case we have a Unicef project which aims to support internet access accross South America and Africa. And it operates as follows:

  • Smart contract disperses funds only to schools with a working internet connection.
  • Donors watch funds flow in real time to connected schools.
  • Blokchain allows having a transparent record system.


116 reads

3rd Practical Examples on Web3 Use

In this last examples let's imagine this scenario: Artist/Programmer/Refugees living in 18 countries want to start a company/collective/organization. The following doubts arise:

  • Which currency is the special one?
  • Which country is the special one?
  • Open bank accounts is 18 countries?
  • How to govern company?
  • Audit the books - employees, local tax authorities...
  • Blockchain makes all of these transparent.


109 reads


"Smart contract built on a decentralized system which connects real world events to the flow of money begins to make a lot of sense."



96 reads

Blockhain: Painful but Beatiful

Even with overwhelming rationale for blockchain, still need to deal with:

  • Scaling
  • Compute
  • Storage
  • Transaction/s
  • Congestion
  • Cost (inverse unit economics)
  • Carbon Footprint


110 reads


"Summarizing, if someone comes to you and promises you a lot of cash quickly and easily that's not really a web3 project.

Instead what we're looking for are a combination of attributes that are forcing that project to use decentralized systems despite all their problems."



92 reads

Is Web3 a Scam?

Is Web3 a Scam?

Web3 isn't inherently a scam, it all depends on the purpose, community and goal of the project.

In this TED Talks he gives us guidelines on how to make good project judgements without falling for scams.


123 reads



Business Administration and Management Student | Blockchain, DEFI & Web3 | Social Worker | "Fix the money & fix the world."


In this brief but intense TEDxTalks Jan Liphardt gives us guidelines and tools to detect scams on the now famous Web3.


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