Is web 3 a misunderstanding word for some gambling crypto projects? I've come across few gambling / crypto projects that claimed to be a web 3.0 online casino and other but they still ask for KYC.
The definition of web 3.0 had everything to do with decentralization, block chain technology and token based economics as per what Wikipedia illustrated so why is identity/ verification integrated?
Is this just a misunderstanding of what web 3 actually is? Or it's a way to attract people/users to make them think that their platform is more advanced?.
The thing with buzzwords like "web 3.0" is they can have a broad meaning and are used by many "entrepreneurs" to sell their projects to angel investors. People are always looking for the next "it" thing or hype train to jump on, as it often draws a lot of money in if you time it just right. There seems to be a conflict between even your understanding of how it would work - if it's decentralized then in theory no single entity controls it and that means it would be impossible to provide KYC documentation, who is even the company and customer in that scenario? It's an interesting thought, keeping any profits solely between two peers, but somebody will at least have to get paid transaction fees to make it worthwhile to secure.