Web3 is an umbrella term.
In the year 2008, a group of anonymous technologists, philosophers, and visionaries started a revolution for a more open Internet.
Amidst the global financial crisis, they set out to build a new digital economic system of their own that utilized peer-to-peer networks that no single person or entity controlled, yet anyone could use.
Little did they know this novel payment project would be worth trillions of dollars in merely a decade, rival gold as an asset, and explode into many different use cases that today we call Web3.
Web3 is an umbrella term for the vision of a better internet; an internet with an added identity, money, and social layer. An internet built upon open protocols that value transparency and innovation. An internet that takes the power away from big corporations, and instead places you in charge of your data.
Web3 takes away the need for intermediaries or third parties and gives you direct ownership over your digital identity and assets in a way like never before. It is the shift from an internet of information, to an internet of value.
We all love the internet. It keeps us connected with people from all over the world, enables us to learn almost anything in an efficient way, and has a never ending supply of entertaining videos. We don’t want any of that to go away. We do think that the relationship between platform and user must change to serve us better.
To serve you better.
That’s what Web3 is about. We’re in the early stages of Web3 where programmable networks like E-thereum allow innovation and creativity to rapidly sprout.
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