Web3 is centralized and inefficient

That being said, it could reduce the need for new products/versions being created every other week. However, there would need to be a somewhat centralized 'marketplace' that facilities the second hand sales which is where Walmart could step in with some perks for selling with them.

What incentive? Users forced to mine to view content? Or just as a paywall? Because the former isn't an incentive (it's just ads taken to an even more extreme level), and the latter is already doable on 'web2' and vastly cheaper at that.

> Blockchain provides incentives

No, it absolutely does not. Blockchain is just a public ledger. It doesn't provide incentives of any kind, just an append-only list. Proof of Work provides "incentives" to burn power pointlessly, which is a pretty awful incentive. Proof of Stake provides incentives to hoard "money", which is... well actually a pretty big regression from the current state of the world, even. And that's about it.

And in both of those cases the money (and thus "incentives") still have to come from somewhere. Blockchain technology itself isn't generating any value, nor do things like IPFS. They need externalized funding to function. Filecoin then tries to make IPFS make sense for people to participate in, but that's then just a mediocre twist on AWS S3 or Backblaze or any other cloud storage provider. "Mediocre" because it completely lacks things like customer support & uptime guarantees. Kinda important things if you're trying to build a business on top of it.

This could be a feature or a bug, depending on use case.

> Someone has to double check the financial and legal frameworks are being abided by in transactions of money, specially cross country.

Not really. I think money transfer, especially in the United States, is way over-regulated. But our opinions don't really matter, because crypto is a cat out of the bag.

Maybe you would want to make it illegal to make a peer to peer crypto transaction without a middleman checking it for legality first. I believe that's impossible without outlawing crypto altogether, which is a political nonstarter (though they might be successful at outlawing proof of work only).

> The transaction in ethereum takes however long you wanna pay a gas fee for, the 15 second thing is an average not a median, and certainly not a general use case for smaller transactions.

Since the EIP-1559 fee market change in August 2021 introducing flexible block sizes, the 15 second transaction time is very much a median. Not sure what you mean by "not a general use case for smaller transactions."

> Gas fees are expensive because you can pay to jump the queue, and considering the number of fraudulent transactions, scams etc people are incentivized to over pay to make their quick buck after a rug pull.

No more overpaying in the general case since EIP-1559, since block sizes are flexible now. Blocks can double in size, so as long as the network demand doesn't double within a 15-second period, you can include a fee at the market rate and your transaction will be processed in a timely manner.

Ethereum fees are an open auction market where anyone can bid. If scams can afford to outprice legitimate transactions, then that says something about society, not about the network. The network is impartial, providing service to whoever bids high enough.

> It also reduces security, increses centralisation and increases fees. Certainly a cure-all for a problem created by crypto in the first place.

Proof of Stake increases security, decreases centralization, and reduces fees. It would take a long comment to describe why this is the case with sources, so tell me if you want me to write it up.

Here's the short answer though:

https://vitalik.ca/general/2020/11/06/pos2020.html

> The 2 day to send allows plenty of time to report a transaction, for the goverment to intervene if flags are raised etc. It certainly offers tons of legal protection.

From my understanding, international wire transfers can only typically be cancelled within the first 30 minutes or so, if you're lucky. The payment method offers exactly zero legal protection - it's as if you've handed the recipient cash and they walked away with it. If you send money to the wrong account, or if the recipient does not provide you with the services you purchased, your only recourse is to hire an international lawyer and sue the recipient in whatever country they are in. You can look on your wire transfer form and see disclaimers to this effect.

As would the citizens of Cyprus and Sri Lanka who will have or have had funds from their Bank accounts taken because the powers that be decided that the customers money was better off in the banksters hands.