While Web 3 is still in its early phases of development, YouTube may have accidentally made a case for decentralization of the internet. Over the weekend, the popular video-sharing network suspended many crypto-focused channels without explanation.
Web3 and Crypto Educational Channels on YouTube are being shut down without explanation.
Bankless, a YouTube channel dedicated to producing Ethereum-related video and interviews, disclosed to its 150,000 subscribers that its channel had been suspended in a tweet on Sunday. Bankless stated in a tweet that the famous social media site has disabled their channel and removed over 10,000 hours of their content without warning.
As a result, the channel enlisted the help of its 188,000 Twitter followers in order to gain YouTube's attention. Bankless also called on YouTube CEO Susan Wojcicki to correct the problem in a follow-up tweet. The tweet stated, “Dear Susan Wojcicki, CEO of YouTube, Please reinstate the BanklessHQ account so our community can resume receiving high-quality educational content.”
Bankless was not the only crypto-focused channel that was blocked at the time. According to reports, the site has also deactivated at least three more YouTube channels. Gabriel Haines, Optimism, and Crypto Love are among the accounts that have been discovered.
While Optimism has yet to confirm the restriction, Gabriel Haines and Crypto Love have addressed the subject on Twitter, with Crypto Love pleading with the YouTube team to overturn the block. Unfortunately, only Bankless' channel has been restored as of this writing. The YouTube team has stated that it is investigating the situation of the other accounts allegedly affected and has yet to provide a statement regarding the basis for the ban.
Bankless sent an invitation to the YouTube CEO to discuss the events in a tweet following the reinstatement of the Bankless channel, as it appeared that crypto channels were being targeted at the time. The tweet stated, “Hey Susan Wojcicki thanks for unbanning us! Know your battling spam bots and scammers, but sometimes it feels like crypto is being targeted and the crypto community is left wondering why. You wanna stop by the podcast and chat? We can talk web3 and NFTs while we’re at it.”
The Crypto Community's Reaction and the Argument for Web 3
Several Bankless fans were understandably upset by the scenario, with many claiming that the social media site owed the Bankless channel an explanation for its conduct. “They can deplatform you any time for any reason and they don’t have to tell you why. This is why we need Web3.”, the founder of Bankless tweeted.
"We all need to switch to web3 social to keep our freedom of speech," Aave creator Stani Kulechov said to the conversation. While others, like Elon Musk, are skeptical of the new decentralized internet vision, it has recently received a lot of attention and investment from corporations, including Google, YouTube's parent company, which just announced the formation of a Web 3 team under its cloud computing section.