Web3.0 Transforms Communities, IndiGG Dao's Founder Believes

Web 3.0 can promote a more sustainable and effective ecosystem by empowering individuals and enabling data transparency. Manish Agarwal, Founder and Custodian, IndiGG Dao emphasised that in a decentralised system, a person's reputation and trustworthiness turn into key foundations for micro-communities. 

Focussing on the transformative power of Web 3.0 and its impact on communities, Agarwal said, "The shift to a decentralised system will highlight the need to reimagine how communities, states and boundaries are formed in this new digital landscape."

The individual, who desires connection, control and security is at the centre of Web 3.0. Agarwal stressed how the transparency and interoperability of blockchain technology may empower people to claim ownership of their data, unlocking its potential for financial gains. 

This contrasts with previously centralised platforms, where data was managed and profited from by others.

Sharing an instance of Meta, Agarwal stated, “Meta was supposed to be a fiduciary platform holding our information where we are the custodians of that information. It now belongs to the platform and we are all roaming around in that huge Truman show, contributing our every activity into the monster to keep feeding them data and that’s when monetisation truly happens.” Agarwal added, “It’s the centralised platform curse which was unleashed in the last 10 to 15 years and we believe that is where decentralization really can happen.”

IndiGG Dao's Agarwal commented, “When we talk about decentralisation that’s where the communities really come together. The communities come together as heterogenous people with different affinities who have the power, governance, and their own systems because no centralized system is really the most efficient."

Agarwal talked about how the present Web 3.0 narrative frequently focuses on speculative cryptocurrency trading, but he stressed the inclusive and socioeconomic impact that can be attained through the community stack. He mentioned IndiGG DAO's initiatives to enable gamers to establish a reputation and earn money using their expertise on the platform.

Manish Agarwal, Founder & Custodian of IndiGG Dao was speaking at the inaugural edition of BW Web 3.0 Summit 2023.