• Hashed Out
  • Posts
  • Editorial: A Call for Ethical Web3 Development

Editorial: A Call for Ethical Web3 Development

Author

Scott Kasten
March 05, 2025

Web3 is often framed as a technological revolution, but at its core, it’s a philosophical shift—a reimagining of power, ownership, and access in the digital world. The promise is enormous: decentralization, financial inclusion, self-sovereignty, and transparency. But as with any revolution, the impact of Web3 will depend on the choices we make today.

We are at a crossroads.

On one side, Web3 offers real, tangible social benefits—banking the unbanked, empowering creators, enabling transparent governance, and reshaping philanthropy. On the other, it risks falling into the same traps as the systems it aims to disrupt: financial speculation over real utility, exclusivity rather than accessibility, and unchecked power concentrated in the hands of a few.

Which path will it take?

Beyond Speculation: Building for Impact

For Web3 to fulfill its potential as a force for good, we need to move past the hype cycles and focus on real-world applications. The past few years have been dominated by market-driven narratives—token prices, meme coins, and NFT flips—but that’s not where Web3’s true power lies.

The real impact is happening in humanitarian aid, decentralized governance, financial access, and privacy-enhancing technologies. It’s in projects like the World Food Programme’s blockchain-based aid distribution, Oxfam’s stablecoin relief fund, and community-led DAOs funding social initiatives. These are not speculative endeavors; they are practical solutions to systemic problems.

Yet, these stories rarely dominate the headlines. They don’t drive the same engagement as market crashes or celebrity-backed NFT projects. And that’s a problem. If Web3 continues to be defined by speculation rather than impact, we risk alienating the very people who could benefit most from it.

Inclusion and Accessibility Must Be Priorities

Web3’s promise is decentralization, but who is actually benefiting from it right now?

  • Are we truly creating tools that empower the underprivileged, or are we building exclusive ecosystems accessible only to those with the right connections, knowledge, and capital?

  • Are decentralized platforms truly inclusive, or are they reinforcing existing digital divides?

  • Are we designing user-friendly, low-cost solutions, or are we building for a crypto-native elite while leaving the rest behind?

These questions aren’t rhetorical. They define whether Web3 will be a democratizing force or another barrier to economic and social mobility.

If we want Web3 to be more than a playground for the already wealthy and well-connected, accessibility must be a priority. That means:

  • Better on-ramps for non-technical users

  • Lower transaction costs (or gasless solutions)

  • Financial education and digital literacy initiatives

  • Localized solutions for different communities and economies

A truly decentralized future is one where anyone, anywhere, can participate meaningfully—not just those who got in early.

The Ethical Imperative of Web3 Builders

Web3 is being built right now. That means developers, investors, and communities have a responsibility to ensure its trajectory aligns with ethical and social good.

We often talk about “code is law” in blockchain, but ethics cannot be outsourced to smart contracts. A truly ethical Web3 requires active decision-making—ensuring that governance structures are fair, that financial models don’t exploit users, and that decentralization isn’t just a buzzword but a real commitment to power redistribution.

It also requires self-regulation before regulation is imposed externally. If Web3’s pioneers fail to create ethical standards, governments will step in, and history tells us they won’t always get it right. Regulation is coming, whether we like it or not. The question is: will Web3 help shape it, or will it be shaped by those who don’t understand it?

Final Thought: The Future is Ours to Shape

The social impact of Web3 isn’t an abstract possibility. It’s happening right now. But it’s up to us—builders, investors, policymakers, and everyday users—to ensure it delivers on its promise.

We can either let Web3 drift toward speculation and exclusivity, or we can be intentional in making it a technology that serves humanity.

The revolution is happening. Let’s make sure it’s one worth fighting for.

Did someone share this article with you? Take the next step and subscribe!