What problem does Web3 solve?

Okay. So Web3 is next gen of Internet. Blockchain, AI, VR are all part of it. To answer your question, Web3 will revolutionalise how we use Internet. Blockchain has a lot of use cases especially in banking and cybersecurity but very very early stages. Cannot put a finger just as yet

Web 3 is not an investment instrument, I think you're confusing Web 3 with crypto Web 3 is the idea of a new type of Internet which is based on the principles of decentralisation, self governance, tamper proof and trustless DLT or decentralised distributed ledger is a type of process for revising transactions in a decentralised manner Blockchain is a type of DLT Crypto is a token that is used for blockchain transactions In essence, DLTs are a new base layer tech. The idea is to make things faster and better without the end user realising if they're using a Web 2 or a Web 3 based app. Digiyatra, Digilocker, and several government initiatives are being carried out on the chain now Because of crypto transferable nature, it is also used as a investment instrument because demand and supply affects its price I think you're doing the rookie mistake of confusing all of them together

Yes there is. And no one will like it. It's CBDC (Central Banking Digital Currency for the newbies). Since CBDC is traceable to every unit, it is great for governments for tracking businesses, incomes and black money. It's therefore there is a push for using CBDC in countries like China(authoritarian) and India(tend authoritarian) and huge opposition to the concept like US (mah freedom). Whether you like it or not, it is a real product, endorsed by real governments.

A good example is Helium. It is a RF based distributed mesh network. You can add yourself as a node in the network and get paid in its crypto when someone routes data via your node. Imagine you buy power to power your RF node from a community of solar power generators who have their own crypto and accept payment in their own crypto. Are you able to pay from your crypto to their via a defined protocol. Now scale this to 1 million different community service providers from delivery agents to restaurants to farmers each with their own crypto. Assume some of them go bust, it affects only the businessman who did business with them. Not others. Now imagine (actually happens everytime) , too big to fail business fails, does it affect everyone. Does the central bank need to print whole lot of money to keep the credit system going? Does it going to affect unrelated entities to deflate their cash? Now do you see why Govts want to ban crypto outright. Unfortunately, while this is the original idea of crypto, it has become a speculative tool currently.

Some small startups in India are working to digitise land record using web3 tech, looks promising.

Did you also post this on r/developersindia?

Read for knowledge not pump and dump. Read the book by Chris Dixon or watch his podcast. Its not a stupid industry like people think there are usecases like DEPIN, DeFi,etc. Goldfinch like sites are enabling people to invest in RWA assets across borders. This is just the start. AI will make it hard for you to know the ground truth. How will you very things? Standford and berkely has blockchain club which publishes beautiful articles. Read them, they are not easy. New concepts are like that but people keep playing to find use cases. Helium is one. Look at Bittensor

It provides digital means of natural selection to filter out idiots who go after NFTs and crypto. Also cures excess money problems I guess.

getting rich by dominating poor people using jumble words

No

It solves the problem that, when VC's have too much money and don't know what to do with it

No

Digital uncensorable ownership

Not very well versed with the subject. But one thing that I can think of is, with the rise of AI, a unique identifier is very much required to know the authenticity. Rest I don’t know much about

Web3 seems more like a tech adoption for governments and financial institutions rather than a startup building innovative products. It's kind of similar to UPI tech, which is instituted by the govt, owned by NPCI and then used by other companies to expose it to end customers. For startups working on creating web3 platforms-it is just a new tech trying to find solutions for problems that can be solved by usual means.

Greed 🍼

Google Blockchain Trilemma

All and all it basically gives the sense to normal people that they are in control of their finances and they are for the most part at least more than current infra(traditional finance) allows them. I personally think it mostly shines when you're doing cross border transactions Can you imagine 10 mins from one corner to another corner of the world without any communication There is a long way till it is adopted by the general public in their everyday life since the system is not secure in every possible way. Identity & Privacy is one of the things that people don't think about much but as we are moving more towards general AI identity & privacy use case might become norm.

Land registration, vehicle registration, study certificates everything can be NFTs and this would be completely transparent and corrupt free We can tokenise assets and it has a good use case like crowdfunding or multiple ownership Can tackle piracy (I know we can still find ways around but it will be a bit harder) There are a lot of scams in the freebies and scholarships that people get from govt. A govt can simply use blockchain to tackle this and track. Supply chain can leverage blockchains to maintain transparency. For example the food we buy can be easily tracked on when and where it was prepared, packed Each Govt can be a DAO and lot can be regulated IMO there are a lot of solutions, it’s just that people are not using it as it should be. People are abusing the money flow to make tonnes of money with weird projects