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Crypto enthusiasts want to remake the internet with ‘Web3.’ Here’s what that means

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Bear in mind AOL chatrooms and downloading songs via Napster? The web has come a good distance.

Right this moment, it’s dominated by Meta, Google and a handful of different tech giants whose companies have made it simpler for billions of individuals to speak and share content material on-line.

However at what price? “If one thing is free, you’re the product,” so the saying goes — the one motive platforms like Fb and YouTube can supply their companies without cost is as a result of they use our private knowledge to focus on us with advertisements.

“Proper now, you could have large organizations who’re controlling your knowledge and offering you companies that use your knowledge,” says Bertrand Perez, chief working officer of the Web3 Basis.

Web3 is a hypothetical, future model of the web based mostly on blockchain expertise. Crypto fanatics say their imaginative and prescient for the online would decentralize it, pushing it nearer to its roots. However big-name detractors — from Jack Dorsey to Elon Musk — aren’t satisfied.

Watch the video to study extra about Web3 — what it’s, and what its future could also be.

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Mon, 06 Jun 2022 08:00:09 GMT

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