Web 3.0: This version is new, more open, and decentralises the internet

In contrast, the Web3 world is envisioned as a decentralised internet which is permissionless and democratic

Experts working on the ‘third version of the internet’ — Web 3.0 or Web3 — say the new version will be built on concepts of decentralisation, openness, and greater user utility and will be here sooner than many people think. 

In the first phase of its evolution, the internet was driven by users consuming information. In the current (second) phase, users also became contributors with the advent of social media.

In Web 2.0, which is the world of social media and mobile apps, people’s data is owned by organisations such as Facebook, Google, and Amazon.

In contrast, the Web3 world is envisioned as