Web3, Big Tech and Antitrust

Industry Talk HS24 ——Web3, Big Tech and Antitrust

Co-organized by UZH Blockchain Center and DLT Science Foundation.

Speaker:

Prof. Thibault Schrepel
Associate Professor of Law at Vrije Universiteit Amsterdam

When: 05 November 2024 18:15-20:00
Where: [Hybrid] KOL-E-18, University of Zürich, Rämistrasse 71, 8006 Zürich | Online via Zoom: https://uzh.zoom.us/j/66739610975?pwd=CcXpDrd9mNyD5MavnL84onozfgo0k8.1

Abstract:
Once upon a time, in the vast digital landscape, three powerful entities shaped the future of technology and commerce: Web3, Big Tech, and Antitrust. Each had their own vision and goals, which often put them at odds with one another. But not always. Web3 was the rising star, an advocate of decentralization and user empowerment. It represented a new era of the internet, where blockchain and decentralized technologies gave users more control over their data and interactions. Web3 aimed to create a digital world where individuals could transact directly, without intermediaries, ensuring privacy and ownership. Big Tech, on the other hand, was the established giant, reigning over the digital landscape with its centralized platforms. Companies like Meta, Google, and Amazon had built empires by providing easy-to-use services, but at the cost of collecting vast amounts of user data. Their dominance had grown to such an extent that they could influence entire markets. Enter Antitrust, the guardian of market dynamism. Antitrust’s mission was to ensure healthy competition, preventing monopolistic practices and promoting consumer welfare. As Big Tech’s influence grew, Antitrust became more vigilant, scrutinizing mergers, acquisitions, and business practices that could stifle competition. But our story truly began when Web3 started gaining traction. Layer 1 blockchains and decentralized applications (dApps) offered alternatives to traditional social media, finance, and commerce. Users flocked to these platforms for their promise of transparency and control. This shift caught the eye of Big Tech, which began exploring blockchain technologies themselves, either through partnerships or in-house development. Their involvement also raised concerns about whether they would co-opt the technology, maintaining their centralized control under a new guise. Antitrust got specifically concerned about Big Tech’s attempts to slow down Web3 adoption. Antitrust thus got involved and, despite Web3’s initial reluctance, teamed up with Web3 based on mutual interest… On November 5, 2024, Thibault Schrepel will unveil the rest of the story. Did Web3 make it? With the help of Antitrust? Without Antitrust? With or Against Big Tech? Join us as it promises to be interactive.

BIO:
Dr Thibault Schrepel, LL.M., is an Associate Professor of Law at the Vrije Universiteit Amsterdam University (Amsterdam Law & Technology Institute), and a Faculty Affiliate at Stanford University (CodeX Center), where he founded the “Computational Antitrust” project that brings together over 65 antitrust agencies. Thibault is also the founder of the Network Law Review, and the host of the “Scaling Theory” podcast.
Thibault holds research and teaching positions at the University Paris 1 Panthéon-Sorbonne and Sciences Po Paris. He is an alumnus of the Berkman Center at Harvard University, a member of the scientific board of the French Superior Audiovisual Council, and a blockchain expert appointed to the World Economic Forum and the World Bank.
In recent years, Thibault has focused most of his research on blockchain antitrust, computational antitrust, and complexity theory. He has written the world’s most downloaded antitrust articles on SSRN in 2018 (“The Blockchain Antitrust Paradox”), 2019 (“Collusion by Blockchain and Smart Contracts”), 2020 (“Blockchain Code as Antitrust”), 2021 (“Computational Antitrust: An Introduction and Research Agenda”), and 2022 (“Complexity-Minded Antitrust”).

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Host or Publisher University of Zurich Blockchain Center