Web3 imagines a decentralised web: Here’s what it wants to achieve

Web3 or Web3.0 is the big buzzword in the tech world these days. It generally refers to the next generation of the worldwide web, supposed to take over from Web2.0, which is more centralised and focused on user-created content. Web3 is supposed to be a more decentralised web that challenges the dominance of the tech giants by concentrating the power (and data) in the hands of the users, instead of the big tech corporations. This means that data is distributed across networks and no single entity owns the information, though the idea is much harder to execute.

Tim Berners-Lee, the inventor of the World Wide Web, explained this idea in 1999: “I have a dream for the Web in which computers become capable of analysing all the data on the Web — the content, links, and transactions between people and computers. A “Semantic Web,” which makes this possible, has yet to emerge, but when it does, the day-to-day mechanisms of trade, bureaucracy, and our daily lives will be handled by machines talking to machines.”