#89 - Why Building On Chain: The Case for Web3 with Jesse Walden

We talked Web3 with Jesse Walden, a true veteran in the crypto and blockchain space. All the conversation revolves around a deep question: why should we build on chain? Join us as Jesse shines a light on the path forward - and on the key outstanding questions for  Web3. 

In this episode, we discuss the future of the internet with Jesse Walden - Founder of Variant Fund and Web3 legend. Jesse - is one the most pivotal shapers of the landscape of user-owned internet - and an early-stage crypto funding pioneer - and we are truly honored to have him speak with us.

Before spearheading Variant Fund, Jesse had a notable tenure as Program Director at Crypto Startup School—one of the earliest startup accelerators in Crypto and Web3. Before this, he pioneered work at Mediachain Labs, later acquired by Spotify, which underscored his foresight in harnessing blockchain's potential.

In this deep discussion, we riff with Jesse around the fundamental elements of the question: “why should we build organizations and products on the blockchain”? 

Among the depths discussed, he spoke to us on how crypto isn't merely about currencies but rather about owning a slice of the internet. He helps us revise the structural shifts that this technology affords: from independent digital asset ownership to the idea of complete contracts, and we stretch the surface of what’s only possible to build if we embrace this new perspective. 

Towards the end of the conversation, we also dive into what’s the role of venture capital in a different landscape such as that of web3. 

Tune in to this engaging conversation as Jesse navigates the realms of crypto, blockchain, and ownership, unveiling their profound implications for the future of the internet.

Key Highlights

👉 Redefining Digital Ownership: Exploring the shift from traditional internet usage to owning a piece of the internet through blockchain and smart contracts.

👉 Complete Contracts in Web3: the importance of specifying outcomes in smart contracts amidst dynamism.

👉 New Economic Value in Web3: Bottom-up innovation in Web3, and enabling economic value creation. 

👉 Rebuilding Protocols in Web3: Exploring why developers are keen on rebuilding protocols rather than building upon existing ones.

👉 Modular Components in Web3: Building extensive and valuable networks through composability and modularity.

👉 Convergence of Technologies: Exploring the intersection of blockchain computing, zero-knowledge cryptography, and AI.

Topics /chapters

(00:00) Intro - Why Building On Chain: The Case for Web3

(02:04) Why should you build on blockchain?

(06:55) Complete contracts versus incomplete contracts

(19:37) Rebuilding a platform vs. Building atop platforms

(26:47) Modularity and Monetizing Web3 

(42:08) Role of AI in composing products and experiences

(45:39) Breadcrumbs and closing suggestions

Remember that you can always find transcripts and key highlights of the episode on our website:  https://boundaryless.io/podcast/jesse-walden

Recorded on November 10, 2023.

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Music

Music from Liosound / Walter Mobilio. Find his portfolio here: ⁠⁠https://blss.io/Podcast-Music⁠