And blockchain will bring those better products?

For me, the most interesting part of blockchain technology is that you can provide much richer and more advanced protocols. They have the best features of Web One in that they’re governed in a decentralized way, and in a way that the rules are fixed and people can build on them and invest in them and know that the rules won’t change. But they have more advanced functionality than protocols of the Web One era.

One way to think of a blockchain is as a community-owned database. In Web One, there were no databases. In computer science terminology, there’s no way to keep state. You just look at Ethereum today, you can store any arbitrary code, any arbitrary names, any arbitrary thing. It’s a very rich kind of database, and so you can build much more powerful services that also have those properties of Web One and Web Two. Some people call it Web Three.

Web Two was don’t be evil. Web Three is can’t be evil. You bake it into the code that you can’t be evil.

Source: Why a Leading Venture Capitalist Is Betting on a Decentralized Internet