The article discusses a troubling disparity between the ideals of Web3 and the operational realities of many companies in the blockchain space. While claiming to embrace decentralized structures, these organizations often reflect traditional corporate hierarchies and centralized decision-making. Governance tokens are frequently used as a veneer of community control but result in power remaining with a few insiders. This imbalance is further emphasized in hiring practices, revealing a reluctance to fully adopt the decentralized ethos that Web3 promises, highlighting a corporate masquerade beneath the surface of technological innovation.
Most Web3 companies still operate with traditional hierarchies, emphasizing centralized decision-making despite claiming to promote decentralized models that empower users.
Governance tokens, while promoting the idea of community control, often lead to significant power concentrations favoring insiders, undermining the decentralization these projects advocate.
The contrast is striking; organizations portraying themselves as pioneers of decentralization still rely on old corporate playbooks, creating a facade rather than genuine innovation.
Despite the ethos of decentralization, major decisions in many Web3 projects are made by privileged insiders, making true community governance a rarity.
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