![]() Web3 applications that already exist today and are making huge strides each month, but until the new internet becomes fully embedded in the web infrastructure, their true potential will be difficult to observeīut what exactly is Web3, what will it look like and how will it change our lives? The year 2022 has seen a dramatic rise in the interest in Web3, with several companies pivoting towards it and venture capital giants like a16z investing millions into its builders. Some early pioneers called it Web 3.0, a name coined by Polkadot and Ethereum co-founder Gavin Wood. We are at the tipping point of a new phase in the web’s evolution. ![]() Instead, it created global behemoths like Google (now under Alphabet), Facebook (now Meta), Uber, Amazon and other Web2 giants that arguably turned its users into its products, wielding their private data as they saw fit to keep profits coming.Ĭountless shocking scandals have emerged over the last few years (see Facebook’s Cambridge Analytica debacle) exposing how Big Tech has been using the internet as a giant psychological lab to extract the maximum value out of its unsuspecting subjects.įinally, a new type of web is promising to put an end to this and chart a return back to the internet’s original vision. The early internet was founded on the utopian values of equality, transparency and information access and promised to deliver to the world. Now that acronym might as well stand for What Went Wrong? Over 30 years Tim Berners-Lee invented the World Wide Web, also known as the WWW. One that gives you full privacy controls over the data you share with other parties, allows you to earn money if you provide it to advertisers or interact with certain applications, and remains free from draconian third-party censorship. Imagine a new type of internet that not only accurately interprets what you input, but actually understands everything you convey, whether through text, voice or other media, one where all content you consume is more tailored to you than ever before. What Is the Difference Between Web3 and Metaverse?.Web3 (or Web3): Read-Write-Own (Coming).Decentralized Autonomous Organizations (DAOs). ![]()
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