January 14, 2022
It can sometimes seem like breaking crypto news is only on regulatory issues or the market volatility of various options in cryptocurrency. While these are newsworthy stories, one of the biggest and perhaps most profound changes that is just around the corner will be Web 3.0.
What is Web 3.0?
Readers of the latest in breaking crypto news may have heard about Web 3.0. This will be a revolutionary new version of the Web, which will provide greater control to each user to shape their own experience.
Using blockchain technology will eliminate the need for governing bodies or oversight. Instead, it allows the decentralization of power over what users see, access, and buy online.
Today, most of the power over how people experience the Web is in the hands of large companies. While users can provide feedback and even add their own content through social media platforms, interactions with companies and organizations, or even through blogs, uploading videos, or going on podcasts, how that information is accessed is still structured by a handful of very large, very powerful companies.
With Web 3.0, which is still being developed, the use of blockchain technology allows instant capture of all user information. This is then used, in real-time, to tailor the online experience for each individual user.
At the same time, that user information is now owned by any company, rather it is part of a shared resource. At the same time, all platforms and services offered online will be accessed using a single account. This allows users greater freedom and online access, eliminating the hierarchy that is built into the current Web 2.0 technology.
Whether Web 3.0 will be breaking crypto news is still not known. Many skeptics feel it is impossible to create, but supporters believe it is possible with new blockchain technology and solutions.