Web3, Blockchain, cryptocurrency: a threat or an opportunity?
609,542 views |
Shermin Voshmgir |
TEDxCERN
• November 2018
Web3 is a back-end revolution and nothing that makes your webspace more likeable or interactive. Since the novelties happen at the level of the code, it is not easy for the user to grasp what a huge revolution it is. Web3 changes our data structure as it democratises information by giving all users the same level of accessibility. There is full transparency and privacy is preserved thanks to cryptography. There is no centralised entity governing the cryptoworld, no bank issues any currency but bitcoins are regularly exchanged. The whole system works because there is an open-source protocol that everybody must agree with before performing network actions. How are users incentivised to perform the right actions? They are paid with network currency. The democratised code is actually the accepted governance of the blockchain. But who writes the code? Who manages the inner working of the future Web?