Silicon Valley entrepreneurs have created a new frontier called Web 3.0, whose claim that they will ‘democratize’ the internet by providing decentralized recognition of web page addresses (domain names). It seems the view I have expressed before about the need for a global body like the UN to monitor and manage both the security as well as the equitable distribution of technology has more takers than I first thought.
Web 3.0 is an attempt to remove the centralization of domain name registries and the hegemony of the Internet Corporation for Assigned Names and Numbers (ICANN). It relies on blockchain technology to accomplish this.
One of the firms now doing so is called Unstoppable Domains Inc. and relies on the Ethereum blockchain to mint web domains that are created and managed solely by their owners—that is, people like you and me.
To understand why this is important, one needs to know how the internet is controlled today. Domain name services or DNS companies form the backbone of present-day internet since they provide an integral tool to internet users, which translates simple English-based commands like “financialexpress.com” typed into a browser to the actual numeric addresses that the internet’s computers use to identify each website. Users can’t remember a string of numbers like 192.26.32.40 for each website—all they want to do is type in the name that they are familiar with. These DNS firms act much like automated phone directories so that this can be accomplished.
Continue reading: https://www.financialexpress.com/opinion/democratising-the-internet-the-promise-of-web-3-0/2488341/
Web 3.0 is an attempt to remove the centralization of domain name registries and the hegemony of the Internet Corporation for Assigned Names and Numbers (ICANN). It relies on blockchain technology to accomplish this.
One of the firms now doing so is called Unstoppable Domains Inc. and relies on the Ethereum blockchain to mint web domains that are created and managed solely by their owners—that is, people like you and me.
To understand why this is important, one needs to know how the internet is controlled today. Domain name services or DNS companies form the backbone of present-day internet since they provide an integral tool to internet users, which translates simple English-based commands like “financialexpress.com” typed into a browser to the actual numeric addresses that the internet’s computers use to identify each website. Users can’t remember a string of numbers like 192.26.32.40 for each website—all they want to do is type in the name that they are familiar with. These DNS firms act much like automated phone directories so that this can be accomplished.
Continue reading: https://www.financialexpress.com/opinion/democratising-the-internet-the-promise-of-web-3-0/2488341/
