The hype around Web3 and how it can transform the internet
Source: World Economic Forum
Rebecca King makes three points in her contribution: The third iteration of the internet – Web3 – will be defined by open-source technology, utilizing blockchain technology to be trustless (not requiring the support of a trusted intermediary) and permissionless (it has no governing body).
The justification for the move towards Web3 is premised on the dominance of big tech over internet use and its control over personal data.
Web3 is still in its infancy and there are still a number of major questions to address including can Web3 scale sustainably? Will Web3 really deliver online sovereignty? Can we educate the user community to leverage Web3?