How Web3 Will Aid in a New Era of Credential Data Ownership and User Empowerment
The first thing that comes to mind when thinking of Web3 might be the likes of NFTs, the metaverse or blockchain technology. Although all of these concepts do fall under the umbrella that is Web3, additional features such as credential data networks also fit into the picture, which play an integral part in the progression of Web3. Back to Basics The current structure of the internet (as we know it today), often labelled as Web2, allows for user-generated content to be posted on a number of different channels. As opposed to the first version of the internet that was stagnant and limited to....
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The last few years have experienced the rapid evolution of the internet and its application ranging from Web 1.0 to Web 2.0 and now Web 3.0. Web3 – the decentralized web – is the latest major iteration of the internet which promises to achieve a stable and secure decentralized network while offering a variety of innovative features. Since the inception of the world wide web in 1989, it has changed dramatically through the years. While Web 1.0 was read-only; Web 2.0 saw a significant shift towards user participation via centralized platforms such as Google, Facebook, Amazon,....
NFT Steez chats with Web3 advocate Julie Plavnik to discuss the concepts of self-sovereignty and digital identity in Web3-based creator economies. On Oct. 28, NFT Steez, a bi-weekly Twitter Spaces hosted by Alyssa Expósito and Ray Salmond, met with Web3 content writer, Julie Plavnik to discuss the importance of self-sovereignty while building a digital identity in Web3. Plavnik references author Gavin Wood when describing Web3 and says that “communication” is a core tenant in the subsequent iteration of the internet. “Web3 is the communication of encrypted channels between decentralized....
Equifax, which suffered a huge data breach in 2017, has partnered with privacy-centric blockchain company Oasis Labs for a decentralized ID offering for Web3 companies. Credit reporting company Equifax, known for suffering from one of the largest customer data breaches to date, has partnered with blockchain company Oasis Labs to build a Know Your Customer (KYC) solution.Equifax and Oasis said on Oct. 26 that the latter would be building a decentralized identity management and KYC solution for the industry on Oasis’ platform which will leverage Application Programming Interfaces (APIs) from....
Web2 lacks ownership, but Web3 will provide users more control over platforms, websites and protocols. Known as Web2, the current iteration of the internet emphasizes creating and distributing user-generated content. Websites like YouTube, social media apps like Instagram and Twitter, news sites, personal blogs and more make up a large part of the internet.Web2 is a step up from Web1, which was mainly a read-only web version filled with simple static websites. Web3 aims to bring decentralization and token-based economies to the internet. Web2 versus Web3The development of several different....
Web3 technologies are changing the way we engage with various forms of entertainment and ownership is at the heart of it. Web3 is uprooting traditional entertainment industries with a new way of creating and engaging with digital content.The industry has already seen nonfungible tokens (NFTs) display the potential to transform how television scheduled programming can be created. Increased metaverse activity began challenging artists with new possibilities for performances and connectivity with their fans. All the use cases of Web3 technology upgrading the future of digital entertainment....