Your information is all over the internet. Every time you search on Google, every ad you click on Facebook, every purchase on Amazon is recorded. Those companies own the internet … and your data.
This is the cost of Web2.
Let’s back up ...
Web1 was known as the static web. This early version of the internet was more akin to traditional broadcast media, where major media companies would just simply see it as a new way to distribute their content.
Then, it evolved to the internet we know today, Web2 — an interactive web that consists of the somewhat co-creative process between vendor and user to create what’s called user-generated content.
But the problem is that Web2 is still mostly powered by large corporations. That means, in truth, Web2 is owned and influenced not by users online, but by CEOs and shareholders.
That’s what Web3 — the next step in the internet’s evolution — looks to solve by taking all the aspects of Web2 that users like and removing them from the monopoly of big corporations.
Which begs the question Chris Coney poses in the title of this week’s Weiss Crypto Sunday Special: Who will own Web3?
I suggest you watch this week’s video to find out.
Best,
Beth Canova
