Sorry to be sarcastic.
I am still skeptical of most web3 use cases touted on twitter, but have personally experienced a few that have made me pause and be a bit more open minded.
Personal experiences: - Transferring money was in seconds, compared to Fidelity/Venmo which took 3 days!!! - Very easy to loan money against crypto holdings vs stocks - ResearchDao's like ResearchHub
I think it's a wrong example. Email provides light-speed delivery, dirt-cheap cost, and brain-dead convenience on top of also being able to mail. So email actually never competed with mail.
Web3 is yet to strike any decisive blow against today's web (or it may never). It's more like another part of the web.
> Transferring money was in seconds, compared to Fidelity/Venmo which took 3 days!!! - Very easy to loan money against crypto holdings vs stocks - ResearchDao's like ResearchHub
For a smaller amount of money (<$100k), banks already can transfer money within seconds. I've seen people sending $1Ms only using their phones, but, IIRC, you need a good record to do that.
These advantages are obvious now. See: https://www.youtube.com/watch?v=gipL_CEw-fk . My point being that blockchain does offer some new capabilities that were hard to build before. We maybe oblivious in what applications that may unlock.
Regarding money transfer, I know the technology exists, but all providers don't built it. That is native technology in blockchain.
The US is very slow to move money, I still dread any time I have to use my old US bank accounts to get things done.
This is a problem that can be solved sans web3.
You’re paying fees to transfer crypto.
That said, it’s free and instant with services like Zelle.