How Web3 Solves The Geographical Siloes Of Innovation

credit: Wikimedia Commons

What if there was a way for anyone, anywhere, to contribute to the growth and development of the web? Silicon Valley has become the "single most dominant force" in the tech industry, but it has also become less accessible to the outside world as it has become more successful and expensive to do business in the area, Fast Company reports.

What if there was a way to decentralize the web so that anyone, anywhere, could contribute to its growth and development? "What if there was a way to decentralize the web so that anyone, anywhere, could contribute to its growth and development? Silicon Valley has become the single most dominant force in the tech industry," writes Ryan Tate.

"But this dominance has come at a cost. The Valley has become a victim of its own success, as the high cost of living and doing business has priced out many would-be entrepreneurs and innovators."

Web 3.0 projects have achieved Silicon Valley-type scale without having to conform to the geographical restrictions of the Valley.

One of the reasons is the concentration of wealth in the area, which has created a large pool of capital that can be invested in new and innovative ideas. Another is the presence of major research institutions like Stanford University and University of California, Berkeley.

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