144 - Web3 Is Going Great!! with Molly White

Governance Models

Molly White critiques the current governance models in the crypto space, particularly token-based governance. She argues that these models are flawed because they equate power with financial investment, creating a pay-to-play system that excludes those without significant capital 1. Molly believes this approach is detrimental to society and community, as it hyper-financializes interactions 2. She states, "I feel like financializing everything, making everything that people are doing into this really hyper capitalized financialized transaction feels antisocial and detrimental to society, to community, to the web." 1

   

Potential Pathways

Exploring potential pathways for improvement, Molly emphasizes the need for better education and understanding in the crypto space. She notes that many misunderstandings arise from a lack of clarity about what crypto products truly offer 3. Molly also highlights Wikipedia as a model of idealistic motivation, where contributors are driven by the desire to spread knowledge rather than financial gain 4. She remarks, "I think Wikipedia is sort of partly what keeps me so idealistic about the web, because Wikipedia is one of those things that should not function, right?" 4