Thread by @Samfarber_

The internet is currently doing a 180 degree flip.

Facebook and Google are no longer in charge.

You are. Here is what I mean…

Facebook and other big tech corporations currently own all your data, and use you as the product.

Taking your time, and giving you nothing but more ads on your timeline.

We live in world where you get nothing for making these corporations billions of dollars.

Which is why we are beginning to see a shift from Web 2 to Web 3.

Web 1: Read only webpages (Forums, Chat)

Web 2: Dynamic webpages (Facebook)

Web 3: “Read-write-own”

Web 3 is a decentralized (Not controlled by 1 single party) version of the internet.

We as individuals now have the opportunity to own our data as well as equitable pieces of the internet.

How will this look like in real life?

-A Web 3.0 version of SoundCloud could allow fans to buy “equity” in up-and-coming artists, effectively becoming their investors in exchange for a percentage of the royalties they earn in the future.

- Cryptocurrency used virtually everyone on the internet

- A social network where you get paid for posting valauable content.

It doesn’t stop there…

The major value propositions of Web 3 include:

1. No need to give up a “cut” to 3rd party intermediaries like Visa (DeFi)

2. Artists, creators, and authors can truly own their work (NFTs)

3. Play-to-earn gaming (Earn $ for playing video games)

4. On chain identity (No need for hundreds of accounts)

Endless Possibilities…

While it is still early, there are a ton of exciting topics emerging daily

#web3 #bitcoin #cryptocurrency #future