Web3’s Ordeal and the Hero’s Journey

Are you familiar with the hero’s journey*? I think web3 is in the ordeal/wilderness* part of the story right now.

The ordeal/wilderness is when all seems lost. It may seem like there is no way out.

Regulatory agencies are targeting crypto companies and NFT influencers. Media coverage highlights all the scam artists who chose web3 to execute their devious plans. Banking institutions reportedly are shying away from supporting crypto-related businesses. And AI is sucking up all the emerging tech oxygen.

Yet WOMEN IN TECH®USA is holding a nearly sold-out panel this Wednesday on “Women in Blockchain”. I’m thrilled so many young talented women are taking time out to hear us talk about what’s happening in the space. So many people I have met are still building - perhaps a bit more quietly - and excited for the potential the decentralized web can bring.

Leadership from Coinbase, Polygon Labs and other marquis organizations are gathering in Washington to work constructively toward reasonable policies that protect without smothering innovation.

Will blockchain/web3 save the world, as the most die hard converts claim? Unclear yet, but I am encouraged to see persistence - and something stronger will emerge from the ordeal.
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*Credit to Joseph Campbell for describing the Jungian phases of the myths and stories that inform our understanding of most religion, history, and fiction. The hero’s journey can be clearly identified in all the great modern sci-fi, most obviously episodes 4-6 of Star Wars.

**Credit to Steven Pressfield for his exploration of this phase and wilderness terminology