Is Web 3.0 Running Out Of Gas In The Crypto World
Web 3.0 is acting like a football match. How about 20 people, 10 aside plus two others standing between goalposts chasing after an inflated round leather. Have you ever imagined how these people outrun each other to and fro in a confused manner. In exactly the same way, web 3.0 is jumbling our already saturated brains. Though football may look organized from within, strangers will wonder at what is going on.
There are too many activities in the world today that do boggle up our feeble minds. The world around is filled to the brim with challenges that Jesus Christ JC once said "the problems of one day are enough for the day."
What The Heck Does Web 3.0?
Web 3.0 is geared towards a more democratic internet. The internet in Web 3.0 was to be owned, operated and managed by the people themselves.
The power was subtracted from banks and vested upon people. The approach was a complete Decentralisation of all assets. No wonder NFTs and Metaverse came into play.
The idea was noble and people began buying into the idea. Decentralisation was the way to go. Bloclchain was the database and tokens had been revolutionized.
Enter Silver Gate And Silicon Valley Bank SVB
These two banks embraced crypto. SVB which was headquartered in Santa Clara, California, US came into problems when it failed after the bank ran into problems on its deposits. The bank has been taken into receivership by the Federal Deposit Insurance Corporation.
Are it's problems related to its involvements in crypto which was it's majority holdings? It's sister Silver Gate was not spared either.