Will Web3 crypto startups and projects be able to take away influence from large IT companies?

Andreessen Horowitz: Web3 and crypto assets will be able to change the balance of power in the IT industry

Chris Dixon, founder of crypto division a16z, believes that Web3 projects should focus more on introducing new technologies, as well as help restore user control over the Internet. Top manager Andreessen Horowitz is confident that Web3 and cryptocurrencies can overcome the imbalance of power that has been established by the largest IT companies, such as Twitter or Facebook.

The expert acknowledges that at present the Internet largely belongs to a small group of projects. But in the future, everything can change.

“I think the current state of affairs is not efficient at all. The idea that the Internet is controlled by five companies is very bad for both entrepreneurs and venture capitalists,” Dixon said.

According to spokesman Andreessen Horowitz, it is necessary to “create new systems in which network effects will extend to the community, and not to companies.”

And recently, the creator of Telegram, Pavel Durov, announced plans to introduce Web3 into the messenger in the near future. Moreover, the entrepreneur sees TON as the main blockchain for the future marketplace.

“When it comes to scalability and speed, TON probably has the best technology to carry out such decentralized sales. Our team can write bulletproof smart contracts for TON since we are the ones who invented its smart contract language. Therefore, we are inclined to try TON as the underlying blockchain for our future market,” Durov said.

Decentralized Pictures CEO Leo Matchett is confident that Web3 can also have a positive impact on the movie business. The expert believes that Web3 can change the way Hollywood works.

Now the resources of local film production are seriously limited, which prevents the studios from analyzing a significant part of ideas and projects for their profitability in the future. The blockchain can fix this, the head of Decentralized Pictures believes.

“We can use blockchain to empower artists, find new creators, and create great content,” Matchett said.

He also expressed hope that blockchain-based voting could make Hollywood more open to new industry entrants. It looks like Web3 is getting more and more supporters from different areas, right?