Can WEB3 Bring Back Competition to Digital Platforms?

Like the early Internet, blockchain and Web3 applications promise a new wave of decentralization and competition – yet at the same time, it is unclear which of the dynamics that drove concentration in online platforms and services will remain in force under the Web3 paradigm. In this piece, we highlight three fundamental costs that Web3 technology can potentially reduce: the cost
of verification, the cost of interoperability and portability, and the cost of composability. We then...