The term Web3 is creating quite the buzz lately, especially among those interested in technology, cryptocurrency, and venture capital. Here’s an introduction to what some people are calling the internet of the future. No one really knows what it is yet, but from an estate planning standpoint, I have some predictions.
WHAT IS WEB3?
To understand Web3, it’s helpful to go back in time and review the history of the internet.
In the 1990s, we were calling the internet the “information superhighway.” Although it was confusing and overwhelming to most, many Americans began to dial up nonetheless. Children were being taught how to “surf” the web alongside adults who learned how to use email and conduct basic web searches for the first time. The internet was very much a blank slate with a steep learning curve. However, many people intrinsically knew this was the next big thing that would change our lives forever. This era of the internet is referred to as Web 1.0.
In the mid-2000s, we entered the age of Web 2.0. Major platforms like Google, Amazon, Facebook, and Twitter emerged. They began to make the internet a more convenient place to connect, interact, and transact. However, critics began to question whether these few companies were beginning to amass too much power. In recent years, we witnessed lawsuits in which tech giants were slammed with billion-dollar fines for harvesting personal data and breaching data privacy laws.
Continue reading: https://www.fastcompany.com/90742974/what-is-web3-the-future-of-the-internet-cryptocurrency-and-estate-planning
WHAT IS WEB3?
To understand Web3, it’s helpful to go back in time and review the history of the internet.
In the 1990s, we were calling the internet the “information superhighway.” Although it was confusing and overwhelming to most, many Americans began to dial up nonetheless. Children were being taught how to “surf” the web alongside adults who learned how to use email and conduct basic web searches for the first time. The internet was very much a blank slate with a steep learning curve. However, many people intrinsically knew this was the next big thing that would change our lives forever. This era of the internet is referred to as Web 1.0.
In the mid-2000s, we entered the age of Web 2.0. Major platforms like Google, Amazon, Facebook, and Twitter emerged. They began to make the internet a more convenient place to connect, interact, and transact. However, critics began to question whether these few companies were beginning to amass too much power. In recent years, we witnessed lawsuits in which tech giants were slammed with billion-dollar fines for harvesting personal data and breaching data privacy laws.
Continue reading: https://www.fastcompany.com/90742974/what-is-web3-the-future-of-the-internet-cryptocurrency-and-estate-planning
