Web3 and Blockchain Technology
Web3 is the answer to this dilemma.
What is Web3
Web3 is an idea, vision, and movement for a decentralized web that is nearly free of centralized third-party intermediaries. This feature essentially makes it pro-privacy for a user’s data and also renders it more user-centric instead of platform or business-centric. The idea was first presented by none other than the inventor of the World Wide Web Tim Berners-Lee in 1999 as a Semantic web that would involve AI.
Web3 Applications
Using Blockchain technology, all data and content of Web3 are jointly hosted in peer-to-peer networks
Bitcoin
Cryptocurrency is not tied to or under the control of any government. This has the potential to change the relationship between governments and their people.
NFT
NFTs can be issued for digital artwork, in-game items, real estate in a metaverse, and more. This gives artists the ability to sell NFTs to indicate unique ownership of digital art.
DApps
Using Blockchain technology, developers have been creating decentralized alternatives to popular services. There are now social networks such as Diaspora and media repositories such as LBRY. Ethereum takes this further and hosts a wide number of apps within its Blockchain.