Cointelegraph By Gabriëlla Modderman
Web3 puts major companies like Meta out of business and gives every user rights to develop the next big thing together. Decentralization and the combination of humans and machines will be the heart of the Web3 projects.
There is a reason for users’ passive participation: We’re still busy trying to get the biggest part of the pie. But now, Web3 is in the pipeline. This is going to change radically. In the upcoming years, there’s going to be a shift from tech giants who are “the boss” to individuals who are taking the lead.
When the development of Web3 is concluded and if you’re working within IT, blockchain or crypto space, you’re working on it too, we’re all going to be the boss. Data is going to be stored in a decentralized manner and everyone and everything will be connected. It offers opportunities and has risks at the same time. Think about privacy and compliance risks, smart contract hacks and rug pulls. Greater control requires greater responsibility.
Cryptocurrency, NFTs, smart contracts and blockchain technology will be essential in the upcoming Web3. Smart contracts are fully digital contracts and they will take the lead in a secure and automated online environment. Machine learning, artificial intelligence and the Internet of Things will also have a seat at the table, so you can imagine what kind of revolution this will have on us as daily users of the internet.