A number of projects and causes working 'for good' have taken to web3 technology, write Scott Smith and Lina Srivastava. For example, the World Wildlife Federation-UK is selling NFT "Tokens for Nature". But there are "three linked challenges baked into Web3 that any proponent of positive social impact must solve," say the authors (paraphrased):
- Decentralized tech doesn't equal distributed power; equitable power structures must be proactively designed in Web3 systems.
- Existing power holders are already building their Web3 business models on exploitation and extraction and do so without addressing these concerns in their core business model.
- These systems say they address issues of trust, but building trust requires, among other actions, deep listening and honest engagement.
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