"Web 3": The third era of the internet

A response to centralisation is for governments to impose regulations on large internet companies, assuming the internet is like the phone, radio, and TV networks.

But, hardware-based networks of the past are fundamentally different. They are almost impossible to rearchitect. Software-based networks can be rearchitected.

The internet is a software-based network with a simple core layer connecting billions of computers that can run whatever software they want.

In time, core internet services will be enabled by crypto-economic networks with abilities that will exceed those of centralised services.