Somi Arian: Ethereum will not become the Web3 blockchain network

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When Somi Arian started her company FemPeak, the goal was to bring in more women into the world of Web3, a sector they have been vastly underrepresented. However, in time, she realized that everyone needs to migrate to Web3 and rebranded her company to InPeak. Speaking to CoinGeek Backstage, she recounted her Web3 journey and why Ethereum isn’t going to be the blockchain network that underpins this new iteration of the Internet.

Somi was at the BSV Global Blockchain Convention in Dubai to talk about the future of the Internet, and CoinGeek Backstage’s Becky Liggero caught up with her to talk Web3, Ethereum, Bitcoin SV (BSV), and more.

“Web3, at the core, is about ownership. It’s the first time we can truly own stuff on the Internet. […] Web1 was read-only. Web2 is read and write. Web3 is read, write and own,” she pointed out.

Somi got started with her blockchain journey on Ethereum. She still builds on the network and owns a number of Non-Fungible Tokens (NFTs). However, in time, she encountered the same bottlenecks that most developers and users face–high fees and slow transactions.

“I don’t want to be paying these high fees all the time. I see Ethereum as more of a legacy brand that’s slow and difficult to interact with. As much as I like Ethereum, it’s very unlikely to become the main chain that everyone will use. I’m really interested to see what BSV will do,” she told CoinGeek Backstage.

Bitcoin SV has continued to shatter the glass ceilings that have been imposed on blockchain networks. BSV has proven that Satoshi’s original vision actually works, constantly processing more transactions than all other major blockchain networks combined. Last month, it hit a new record with 35 million transactions in a single day. While it sets and shatters new scaling records every other day, BSV’s transaction fees have consistently remained the lowest in the industry.

Watch: The BSV Global Blockchain Convention panel, Web3 and BSV Blockchain