For several months, consumers and businesses have been hearing more and more about blockchain technology, cryptocurrencies and, most recently, nonfungible tokens. All these concepts are among the first wave of what insiders have dubbed Web3—the next phase of the internet.
Broadly speaking, Web3 primarily differs from the current iteration of the internet in its focus on decentralization and transparency. Proponents tout a new normal in which users maintain more control of their data and businesses and organizations enjoy more seamless, direct interactions.
While Web2 may still be the standard, many tech experts are adamant that Web3 is on its way and will soon revolutionize the way consumers and companies digitally interact and conduct business. Here, 12 members of Forbes Technology Council share details about Web3 they say every consumer and business needs to know.
1. The Goal Is Decentralization Through Blockchain Technology
Web3 is primarily a small but loud social movement to decentralize today’s internet platforms and services using blockchain technology. In real-world applications of blockchain, the goal is to remove complex third-party verification processes. For example, the blockchain would transparently verify trades of complex securities such as shares in a power plant or trades of securities that are executable software. - Steven Gustafson, Noonum, Inc.
Continue reading: https://www.forbes.com/sites/forbestechcouncil/2022/04/06/tech-experts-share-12-things-businesses-and-consumers-need-to-know-about-web3/?sh=59de182df1b8
Broadly speaking, Web3 primarily differs from the current iteration of the internet in its focus on decentralization and transparency. Proponents tout a new normal in which users maintain more control of their data and businesses and organizations enjoy more seamless, direct interactions.
While Web2 may still be the standard, many tech experts are adamant that Web3 is on its way and will soon revolutionize the way consumers and companies digitally interact and conduct business. Here, 12 members of Forbes Technology Council share details about Web3 they say every consumer and business needs to know.
1. The Goal Is Decentralization Through Blockchain Technology
Web3 is primarily a small but loud social movement to decentralize today’s internet platforms and services using blockchain technology. In real-world applications of blockchain, the goal is to remove complex third-party verification processes. For example, the blockchain would transparently verify trades of complex securities such as shares in a power plant or trades of securities that are executable software. - Steven Gustafson, Noonum, Inc.
Continue reading: https://www.forbes.com/sites/forbestechcouncil/2022/04/06/tech-experts-share-12-things-businesses-and-consumers-need-to-know-about-web3/?sh=59de182df1b8
