The beginners guide for Investors exploring expanding their portfolios.
Web 3.0 is a hyper-realistic future version of the internet based on public blockchains, a record-keeping system best known for facilitating cryptocurrency transactions. What makes Web3 mega-attractive is that it is decentralized — meaning that rather than consumers accessing the internet through services mediated by companies like Google, Apple or Facebook, individuals, themselves, own and govern sections of the internet.
Web3 doesn’t require “permission,” which means that central authorities don’t get to decide who gets to access what services, nor does it require “trust,” — in lamen terms: an intermediary isn’t necessary for virtual transactions to occur between two or more parties. This means that the agencies and intermediaries are doing most of the data collection, Web 3.0 technically protects user privacy better.
Let’s talk about DeFi — which is “Decentralized Finance” that’s a strong component of Web3 that’s gaining steam. It entails executing real-world financial transactions on the blockchain without the help of banks or the government. What this means for Investors sniffing around this space — many major corporations and venture capital firms are pouring money into Web3, whether it is a bull or bear market.
It isn’t easy to conceive that their engagement won’t result in some form of centralized power.
