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Ending 2024 with a crash course in Web3 — the internet’s next chapter.
The internet is approaching a crossroads. Web3 offers a vision of a decentralized, user-driven digital world that promises to reshape not just how we interact with technology but how we connect with each other. Often referred to as the internet’s next chapter, Web3 is built on blockchain’s defining features of transparency, decentralization, and immutability. This means every transaction and interaction is recorded permanently, creating a system that is transparent and trustworthy.
But Web3 is more than a technological innovation. Its core premise is the creation of a more inclusive and democratic society where power is decentralized, shifting from corporations and institutions back to individuals. Unlike Web2, which is dominated by a few tech giants that hold significant sway over our data and online experiences, Web3 envisions a world where users own their data, control their identities, and engage in open, peer-to-peer networks.
The Risks
Every innovation comes with its challenges, and Web3 is no exception. Web3’s greatest strengths — transparency, decentralization, and immutability — pose significant risks.
- Transparency vs. Privacy: In a world of total…