Web3 has failed to break through the so-called bubble a decade after its launch, hindered by a lack of robust privacy solutions, according to Zachary Williamson, founder of Aztec, a privacy-focused blockchain firm.
In an interview with Benzinga on the sidelines of Eth Denver, Williamson argued that without meaningful privacy capabilities, Web3 remains stuck in a speculative loop of “coins and casino games,” far from its original vision of sovereign programmable money.
His critique centers on Ethereum‘s (CRYPTO: ETH) architectural limitations and the broader industry’s stagnation.
Williamson emphasized that privacy is not just a feature but a necessity for Web3 to compete with traditional finance and Web2 systems.
“We’ve not meaningfully pierced the Web3 bubble,” he said, reflecting on Ethereum’s trajectory since 2014. “We’re still playing around with synthetic tokens …
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