Web3 is a Scam, Not a Revolution w/ Stephen Diehl

Paris Marx is joined by Stephen Diehl to discuss why technologists are divided on crypto, what’s wrong with blockchain, why crypto assets are scams, and why web3 is a rebranding effort.

Stephen Diehl is software engineer and crypto skeptic based in London. Follow Stephen on Twitter at @smdiehl.

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Tech Won’t Save Us offers a critical perspective on tech, its worldview, and wider society with the goal of inspiring people to demand better tech and a better world. Follow the podcast (@techwontsaveus) and host Paris Marx (@parismarx) on Twitter, and support the show on Patreon.

Find out more about Harbinger Media Network at harbingermedianetwork.com.

Also mentioned in this episode:

• Stephen has written about how to understand crypto assets, the problem with “decentralization”, the speculative mania inherent to crypto, why web3 is bullshit, and more on his blog.
• Some guy bought a beer with crypto and it showed one of the big flaws with using crypto as a means of payment.
• Andreessen Horowitz one of the main players lobbying for lax crypto regulations in the United States.
• How Albania’s pyramid scheme crisis in the 1990s holds lessons for the today’s crypto mania.
• David Golumbia was on episode 67 (July 1, 2021) and Olivier Jutel was on episode 75 (August 26, 2021).