Web 2 is fast, easy, scalable. The whole world is at your fingertips. You can use APIs, any different system. You can easily log in on websites. You have giant databases.
You can query. You can look at external sources of information. You can hit up the weather information or price feeds any way you want to, but it's relying on one trusted system. Web 3 gave us confidence. It allowed us to get trusted systems.
The distributed systems they guarantee a result is proper but it only did that by making its own silo a deterministic silo where all the code is self-contained did not work outside and it was executed one after another after another. It makes it slow and limited scope. I'm Ethan Fry and I'm building waves to enable other projects to build next generation protocols combining the best of web 2 and web 3. Basically, we use chains as settlement layers for web two like computations. The reason I got into crypto was like I was really excited about the idea of like programmable value.
To me, tokens are great, not just because they're transferable, but because they're programmable. And I was interested in the design of all these amazing like incentive mechanics and that we could use these clever technologies and tools to like reshape how we like uh run our world economy. We're kind of at this amazing moment in history where the institutions are dying. Things are not looking too good for boomer orgs. And we live in a world where like networks run everything and algorithms run our lives.
And yet normal people don't have any say over those algorithms. They're actually kind of like surfs in these technofudalist states. They sign the way the terms of service and then they have no rights. And decentralization matters is why it matters is not because some technical reason. It's about politics.
It's about like the terms of service because if something's open source and decentralized and you can run it yourself, well then you're free. We we have to build the cultural fabric, right? My theory of change is that like everything starts with strong communities. What we're trying to do at this moment is build an execution. So before we announce this exciting, you know, new thing, we actually just need to build the network of people that like are really invested in building the systems of tomorrow.
And that's why we're honored to be at funding the commons and hanging out with all our friends. [Music]
Automatic transcript — names and jargon may be misspelled.