Web 3.0 is the upcoming development of the World Wide Web. It promises to be even more revolutionary than its predecessors, and Domenic Carosa and Dan Schatt of Earnity look to take full advantage of their new platform. Web 3.0 refers to a new era of internet usage that emphasizes decentralization, privacy, and security. In other words, Web 3.0 is all about giving users more control over their online data and identity.
One of the most integral aspects of Web 3.0 is the rise of blockchain technology. This distributed ledger system provides a way for users to store and share data without a central authority securely. Many translate this movement to spread the power to the people instead of having large financial institutions and big tech companies serve as intermediaries.
Unlike the previous version of the internet, Web 3.0 can be considered permissionless and trustless. Mainly built on open-source software, the technical infrastructure of Web 3.0 allows users to transact without each other without a third party. With Web2, transactions are monitored, controlled, and sometimes manipulated by the platform used for communication. Web 3.0 advocates for peer-to-peer transactions, with the whole process being held only by blockchain encryption and algorithm. As Earnity executives Dan Schatt and Domenic Carosa want crypto to be as safe and efficient as possible. Also, this type of transaction maintains little to nil chance of having been disrupted by anyone.
Web 3.0 users seek no permission from the government or centralized financial institutions before conducting transactions with other users. Although, governments and large companies are now working toward having guidelines and regulations for the safety and legality of transactions. This action from governments and companies only proves that Web 3.0 and its proponents are moving at a speed that is too fast for centralized organizations. There is a good chance that Web 3.0 will have taken over the current version of the internet in a few years. Educating oneself on the innovation would help one prepare for its mass adoption.