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Industry Dilemma: False Prosperity and Lost Value

Industry Dilemma: Technology of Giants, Ethics of Infants​

Web3 Industry Dilemma

"Casino" Swallows "Revolution"​

We must point out bluntly: The current crypto industry is deviating from Satoshi Nakamoto's original intention.

Once upon a time, Web3 promised to reconstruct production relations, grant individuals data sovereignty, and establish a trustless fair world. However, look at today's market:

  • Carnival of Air Coins: Thousands of MEME coins have no practical use, harvesting liquidity solely based on emotional incitement and pyramid-scheme-style pump and dump.
  • PVP Mutual Cutting Game: Due to the lack of external blood-making ability, the industry has fallen into a cruel game of existing funds. Most so-called "innovations" are designed as more complex Ponzi models, competing on who runs faster.
  • Closed Loop from Real to Virtual: DeFi serves DeFi, and DAO governs air. We have built the most complex financial infrastructure in human history, but it seems to be only for trading a few monkey pictures or dog head tokens.

Wasteland of Trust​

Technology is progressing, but the moral water level of the industry is regressing.

  • Hackers and Rug Pulls: Code vulnerabilities and human greed leave users' assets in a state of naked running at all times.
  • Damocles Sword of Regulation: Due to being flooded with money laundering and fraud, Web3 has almost become synonymous with "scam" in the mainstream view. Real builders are stigmatized, and real innovations are drowned in noise.

We can't help but ask: Is this the Web3 we want? If blockchain technology cannot solve even a single real pain point in the real world, and cannot bring positive externalities to society, then it is not only useless but even shameful.

The birth of WikiTruth stems from extreme dissatisfaction with this "financial idling". We refuse to be another on-chain casino; we want to be the scalpel that cuts open the abscess of reality.