If we assume that WWW has revolutionised information and Web2 revolutionises interactions, Web3 has the potential to revolutionise agreements and value exchange.
However, nothing will change on the surface of the Internet for the average user, while Web2 is a frontend revolution, the Web3 is a backend revolution.
It’s a leap forward to open, trustless and permissionless networks.
• ‘Open’ in that they are built from open source software, built by an open and accessible community of developers, and executed in full view of the world.
• ‘Trustless’ in that the network itself allows participants to interact publicly or privately without a trusted third party.
• ‘Permissionless’ in that anyone can participate without authorisation from a governing body.
The ultimate outcome of these new open, trustless and permissionless networks is the possibility to coordinate & incentivise the long tail of work, service, data and content providers, to the worlds disenfranchised backdrop facing acute challenges such as health, food, finance and sustainability.