Web3: The hype and how it can transform the internet

As the internet has evolved, its influence on us has been profound, shaping everything from what we read, the products we purchase, the entertainment we watch and how we communicate. It seems to know everything about us – our likes, dislikes, friends, shopping habits and favourite cat videos.

This intimate knowledge could be inferred as good or bad. You can be targeted with advertisements for products you didn’t know you wanted and be suggested news articles you didn’t know you wanted to read. This personalization can be convenient but also invasive.

There are concerns abound over who has access to and controls this personal information. Big tech has increasingly come under fire for their use and potential abuse of personal data, combined with their large influence over the internet based on their market dominance. As of 2019, 43% of total net traffic flows through Google (Alphabet), Amazon, Meta (previously Facebook), Netflix, Microsoft and Apple.

To continue reading this World Economic Forum blog post, go to:
https://www.weforum.org/agenda/2022/02/web3-transform-the-internet/

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