What is Web3? Silicon Valley’s preferred brand-new buzzword described

What is Web3? Silicon Valley's favorite new buzzword explained

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Some crypto lovers desire a brand-new type of web that tugs power far from Big Tech and hands it to individuals. Can they be successful?

Remember AOL chat rooms and downloading tunes through Napster? The web has actually come a long method.
Today, it’s controlled by Meta, Google and a handful of other tech giants whose services have actually made it much easier for billions of individuals to interact and share content online.

But at what expense? “If something is free, you are the product,” so the stating goes– the only factor platforms like Facebook and YouTube can provide their services free of charge is due to the fact that they utilize our individual information to target us with advertisements.

“Right now, you have big organizations who are controlling your data and providing you services that use your data,” states Bertrand Perez, chief running officer of the Web3 Foundation.

Web3 is a theoretical, future variation of the net based upon blockchain innovation. Crypto lovers state their vision for the web would decentralize it, pressing it closer to its roots. But prominent critics– from Jack Dorsey to Elon Musk– aren’t persuaded.

Watch the video for more information about Web3– what it is, and what its future might be.