The Web3 idea is pretty old as is 'blockchain' . For example the "Privacy Server Protocol" I proposed back in 1995 is an actual implementation that gives the contracts preserving user control their capability. And 'blockchain' is nothing more than an aggregator of public key infrastructure, X.509v3 certs creating signed hash trees, around since the 1980s. And, in use today in all your purchasing on the web, and in all 8 trillion dollars a day of interbank transfers.
What is severely missing is the hardware that would be required to make this dream secure. I presented that back in the 90s as well. I started, but nobody cared, with Phoenix Technologies "Secure Core" which created a hardware protected computation of the essentials of enforcing control of your own information. At the time, Phoenix BIOS was on over 90% of all PCs. But nobody wanted the private key operations protected by hardware even if it was only $.25 per computer to have the Secure Core capability.
Last Summer 2022, I gave an invited talk in Silicon Valley on the "Hard Cryptowallet" I would want. Here is that talk.
