In case you’ve heard the time period “Web3” and instantly tuned out, you’re not alone. It feels like one more overhyped tech buzzword, one other factor Silicon Valley bros discuss whereas cashing in on one thing the remainder of us don’t perceive. However Web3 isn’t nearly crypto, NFTs, or digital hypothesis — it’s about possession, privateness, and the way forward for the web.
Proper now, many of the web is managed by a handful of companies — Google, Fb (Meta), Amazon, and some others. They personal the platforms the place we spend most of our time, that means they dictate the principles, acquire our knowledge, and revenue from our exercise.
Web3 goals to vary that. As a substitute of centralized management, Web3 makes use of blockchain know-how to create decentralized programs. Which means customers — not companies — personal and management their knowledge, digital property, and even the platforms themselves.
On Web2 (the present web), your content material and knowledge are owned by the platform internet hosting it. If YouTube decides to close down your channel or Instagram bans your account, there’s nothing you are able to do. Web3 offers you direct possession of your digital identification and…
