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The Internet Is Broken - Now What?

Source: https://www.wte.net/Blog/June-2024/The-Internet-Is-Broken-Now-What
Date: June 2024
Author: Eric Garrison

Introduction

Garrison builds on Jeff Wilser's article about Web3 marketing, noting agreement on fundamental internet flaws. He references his previous work "Web3: A Comprehensive Guide," acknowledging that while decentralization offers appeal, Web3 remains complex and lacks mainstream adoption drivers.

A key insight emerges from Wilser's observation: "When somebody owns something and feels skin in the game, they want to evangelize it." This reflects how token ownership creates community loyalty — a valuable marketing dynamic.

Token-Holding and Web3 Development

Token-holding involves creating and deploying blockchain tokens representing assets or rights within decentralized applications and platforms. The article emphasizes that Web3 success requires balancing idealistic decentralization with practical user needs through clarity and tangible benefits.

Garrison contrasts traditional Web2 marketing (offering a $1 coupon) with emerging Web3 approaches. The example highlights how blockchain proof — such as attending a whiskey tasting or purchasing specific barrels — enables customers to demonstrate expertise privately while signaling authenticity to brands.

Community Means Losing Control

Rideology.io demonstrates community power by letting car ambassadors manage branded communities for Ford and Chevy. This addresses content creation and social proof challenges, as user-generated reviews significantly influence purchasing decisions (a Northwestern study showed a 270% increase in purchase intent with five+ reviews).

However, ambassador programs face scalability limits. Individuals can only commit to a finite number of ambassadorships, making early adoption crucial for participation opportunities.

Blockchain As Social Proof

Blockchain technology offers transparency and immutability for establishing trust. Potential applications include:

  • Product authenticity: Consumers verify origins of luxury goods, pharmaceuticals, and food items
  • Digital assets: NFTs and digital art establish clear ownership and provenance
  • Review systems: Decentralized platforms eliminate fake reviews through blockchain verification
  • Certifications: Educational institutions and employers verify credentials instantly
  • Finance: Users assess DeFi protocol trustworthiness through total value locked (TVL) metrics

The technology fosters transparency in supply chains and crowdfunding while raising environmental concerns regarding energy consumption.

Conclusion

Decentralized communities combined with blockchain-based social proof address internet fragmentation. Current digital experience increasingly resembles passive television consumption dominated by advertising.

Garrison argues that blockchain-stored social proof credits — earned through buying, advocating, and sharing — create mutually beneficial brand-consumer relationships. Consumers possess assets marketers desire; fair exchange replaces aggressive advertising tactics.

As futurist Faith Popcorn noted, consumers don't merely purchase brands — they join them. Innovative reward systems can repair the broken internet by establishing balanced, reciprocal relationships.