Web 3.0 and blockchain: The future of Technology | how Web 3.0 differs from Web 2.0

Web 3.0 is a hypothetical future internet version built on public blockchains, a record-keeping technology best known for facilitating cryptocurrency transactions. Web 3.0 is appealing because it is decentralized. Instead of customers accessing the Internet through services mediated by Google, Apple, or Facebook, individuals own and regulate areas of the Internet themselves.

Web 3.0 does not require "permission", which implies that central authorities do not have the power to select who has access to what services, nor does it require "trust", which means that virtual transactions between two or more parties do not need the use of an intermediary. Web 3.0 technically preserves user privacy better because these agencies and intermediaries conduct most of the collection.

Decentralised finance, or DeFi, is a Web 3.0 component that's gaining traction. It comprises using the blockchain to conduct real-world financial transactions without the involvement of banks or the government. Meanwhile, many significant corporations and venture capital firms are pouring money into Web 3.0. It isn't easy to imagine that their involvement won't lead to concentrated authority.