Web3 Buzzword: Demystifying What Web3 will do For You
Web3 is coming. Web2, as we know it, caters to the current generation of internet users – most of whom spend the majority of their time online using social media channels. To these users, Web3 may seem like a throwaway term that resonates only with crypto natives. However, Web3 is set to become the entry-level internet for everyone. From social networking and banking to news consumption and shopping, Web3 offers users a decentralized alternative to current systems. This is a system where individuals have a say in how their data is used.
Every aspect of our digital life is based on Web2 infrastructure. However, on Web2, you are as much the product as the user. Our everyday activities online accumulate a ton of valuable data. Data that users willingly or unwillingly forfeit ownership of with the promise of a tailored and more streamlined online experience.