Can you explain what Web3 is, what it entails, and why it's important?
Web3 is an idea for a new iteration of the World Wide Web which incorporates concepts such as decentralization, blockchain technologies, and token-based economics. Some technologists and journalists have contrasted it with Web 2.0, wherein they say data and content are centralized in a small group of companies sometimes referred to as "Big Tech;. The term "Web3" was coined in 2014 by Ethereum co-founder Gavin Wood, and the idea gained interest in 2021 from cryptocurrency enthusiasts, large technology companies, and venture capital firms. Web 3 transitions ownership of data and content from big tech to individual consumers.
How can Web3 impact the average person? Will it be beneficial to society?
Web 3 is driven by using peer-to-peer technologies instead of relying on central servers, Web 3.0 allows users to interact directly with one another without a middleman. This not only gives users more control over their data, but it also has the potential to create a more open and accessible internet for everyone. Which will further enable digital ownership and monetization for the average consumer.
Why is it important to own your own data? What does that look like for the individual?
Having your own data gives you total control over it, even the raw version. When you have access to this primary information you have a better control over who gets access to it, how to monetize it for yourself, and how to ensure you are protected from fraud or other inappropriate uses of your data.
What could be some impacts/downfalls of DAOs? What are some benefits?
DAOs are a powerful new way to fund new ideas, innovations, and businesses in a decentralized fashion. It enables quick and seamless fundraising and distribution based on a community voting system. The huge upside is the speed to market to get funds to drive projects and innovation. The downside is that we are still in the early days of DAO's security standards and many DAOs have been hacked and the funds drained.
How will Web3 impact the gaming industry?
The biggest impact is the change of ownership. Web3 gaming has transformed the entire gaming landscape by integrating metaverse and blockchain technology into the gaming industry. It has democratized the gaming sector by eliminating central game administrators and owners of gaming platforms. As well as enabling digital ownership for consumers vs. the legacy licensing ownership model.
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Web3 is an idea for a new iteration of the World Wide Web which incorporates concepts such as decentralization, blockchain technologies, and token-based economics. Some technologists and journalists have contrasted it with Web 2.0, wherein they say data and content are centralized in a small group of companies sometimes referred to as "Big Tech;. The term "Web3" was coined in 2014 by Ethereum co-founder Gavin Wood, and the idea gained interest in 2021 from cryptocurrency enthusiasts, large technology companies, and venture capital firms. Web 3 transitions ownership of data and content from big tech to individual consumers.
How can Web3 impact the average person? Will it be beneficial to society?
Web 3 is driven by using peer-to-peer technologies instead of relying on central servers, Web 3.0 allows users to interact directly with one another without a middleman. This not only gives users more control over their data, but it also has the potential to create a more open and accessible internet for everyone. Which will further enable digital ownership and monetization for the average consumer.
Why is it important to own your own data? What does that look like for the individual?
Having your own data gives you total control over it, even the raw version. When you have access to this primary information you have a better control over who gets access to it, how to monetize it for yourself, and how to ensure you are protected from fraud or other inappropriate uses of your data.
What could be some impacts/downfalls of DAOs? What are some benefits?
DAOs are a powerful new way to fund new ideas, innovations, and businesses in a decentralized fashion. It enables quick and seamless fundraising and distribution based on a community voting system. The huge upside is the speed to market to get funds to drive projects and innovation. The downside is that we are still in the early days of DAO's security standards and many DAOs have been hacked and the funds drained.
How will Web3 impact the gaming industry?
The biggest impact is the change of ownership. Web3 gaming has transformed the entire gaming landscape by integrating metaverse and blockchain technology into the gaming industry. It has democratized the gaming sector by eliminating central game administrators and owners of gaming platforms. As well as enabling digital ownership for consumers vs. the legacy licensing ownership model.
Jonathan's LinkedIn