Web3: Understand what it is and the changes it can bring the financial industry

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olivia25
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Web3: Understand what it is and the changes it can bring the financial industry

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Web 3.0 has come from the cryptocurrency world, but it is a lot more extensive and complex than that. Do you know how the next stage of the Internet is going to work, and what to expect from it?

Despite the advances promoted by Web2, its high connectivity croatian email list and interactivity started taking a toll on the users. By providing their information in exchange for convenience when using the network, users were vulnerable to individuals leaking or selling of their personal information.

Also, content creators now depend on major platforms to deliver their products/services, while also having limited agency over their generated traffic volume and, consequently, their revenues.

In general, society has been demanding more protection and autonomy in relation to data controlled by big techs. Thus, the search for a technology that enables the navigation without dependence on intermediaries has been growing. The initial desire to maintain the decentralized data, which was present in Web Version 1, has been reignited.

Adding to that growing discontent, the emerging cryptocurrency industry has driven the development of a new Web3. However, it is important to mention that it is not simply an evolved Web2. In fact, it is a disruptive technology, with a new structure, working parameters and stakeholders. And it will completely change the way people do business around the world. Keep reading to learn more!



History of the Web until Web3


In order to understand the proportions of the revolution enabled by Web3, we need to revisit Web1 and the current Web2:

Web1 (1991 to 2004): comprised of basically static pages, structured in hyperlinks. It was mainly meant to read content, with little interaction between users.
Web2 (2004 – today): centralized traffic based on mega platforms like Google, Facebook and more social media enabling high levels of interaction between users. Major corporations capture and hold information so that they can offer a customized browsing experience and monetize it by selling ads.


Web3 and cryptocurrencies


Understanding the connection between the new Web and cryptocurrenciesis essential. And it is worth mentioning here that both concepts do not get mixed up, although they have enabled the new Web3.
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