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Exploring Web3, the New Internet Frontier

Daniel's Last Stream

In 2045, Daniel was a streaming star, a digital storyteller who had won over millions of users on a platform known as StreamNexia. His channel, “The Chronicles of Tomorrow,” anticipated futuristic visions, with recurring discussions of emerging technology, artificial intelligence, space travel, and utopian societies.

One day, without warning, StreamNexia closed Daniel’s channel. The reason was vague: “violation of editorial policies.” But Daniel knew it was more than that. His recent criticism of mega-corporations and their influence on digital life had been incisive, perhaps too much so…

The news spread like wildfire online. Followers, strangers, and supporters rebelled and raised their voices against this decision, but StreamNexia ‘s doors remained closed to him.

Salvador Vilalta Web 3

After the initial shock, Daniel remembered something he had researched for one of his episodes: the Web3 And its promise of decentralization. What if you could create your own space, immune to the pressures and censorship of the dominant entities? A place where freedom of expression was the norm, not the exception.

With the help of some loyal, blockchain-savvy followers, Daniel began building his platform. He called it “Echoes of Tomorrow”, a decentralized space where every voice counted and every story had its place.

The transition was not easy. Many followers were lost in the change, accustomed to the convenience of StreamNexia. But“Echoes of Tomorrow” grew, attracting those who valued authenticity and freedom over comfort.

Daniel had lost a battle, but he was winning a bigger war: that of a free and decentralized internet, a space where ideas could flourish without fear of being stifled.

And so, from his small studio, looking out the window at a rapidly changing world, Daniel began his first stream with a smile, knowing that this time, no one would be able to silence his voice.

Salva Vilalta web3

Web3 represents not only a technological shift, but also a fundamental change in the way we interact on the Internet. It promises a restructuring of digital networks, putting power and control in the hands of users, through decentralization and blockchain technology .

Today, we will explore this concept, from its definition and connection to the blockchain to its meaning in the context of autonomy and resistance to censorship. Will you join me?

What is Web3?

Web3 represents the evolution of the internet towards a decentralized paradigm, based on blockchain technology. Unlike previous versions of the web, Web3 seeks to empower users through ownership and management of their own data. This new era is characterized by being decentralized, permissionless and native payments through cryptocurrencies, offering a user experience based on ownership and autonomy rather than reliance on centralized entities

Linkage to the Blockchain

The blockchain is fundamental to Web3, as it provides the infrastructure for a decentralized internet. Enables the creation of decentralized applications (DApps), decentralized autonomous organizations (DAOs), and decentralized finance (DeFi), facilitating secure and transparent transactions without the need for intermediaries such as banks or governments.

Privacy Web3 Salvador Vilalta
Decentralization: Web3's Rationale

Decentralization is at the heart of Web3. The aim is to eliminate dependence on centralized entities that control access to and ownership of data on the Internet. This philosophy advocates a freer and more open Internet, where users have full control over their data and digital assets. Thus, Web3 represents a shift in the power of Big Tech to individual users.

Risks of Not Adopting Web3: Censorship and Control

Do not migrate to Web3 could mean continued exposure to censorship and control by large corporations over our data and content on the Internet. Governments or Platforms such as YouTube or Facebook have the power to modify their policies and affect content creators, while in Web3, thanks to decentralization and resistance to censorship, theUsers retain control and ownership of their creations, regardless of the platform they use.

Practical Uses of the Web3

The uses of Web3 are varied and innovative, including NFTs markets, blockchain-based gaming, decentralized finance (DeFi), and DAOs that enable decentralized and democratic governance. In addition, Web3 digital identity allows users to have a single profile for different platforms, ensuring security and privacy.

Decentralized identity and Web3

In a recent article, we explored the concept of Self-Sovereign Identity (SSI) and its relevance in the digital realm. This concept aligns perfectly with Web3 principles, promoting a model where users have full control over their digital identity. In Web3, autonomous identity becomes a practical reality, allowing individuals to identify themselves on the network without relying on centralized authentication systems.

With Web3, users can create and manage their own digital identities using blockchain addresses and Ethereum profiles, offering a secure, censorship-resistant, and anonymous solution. This represents a major advance in over-reliance on centralized platforms that require personally identifiable information to create accounts. In addition, Web3’s ability to enable a unified and autonomous digital identity enhances the user experience, ensures privacy, and minimizes the risks of censorship or control by third parties.

Salvador Vilalta visualizacion Web3

Web3 not only promises to be a new version of the Internet, but a radical change in how we interact with and control our data and digital assets. It represents an opportunity to redefine ownership, privacy, and freedom in the digital space. However, it is important to recognize that although Web3 has enormous potential, it still faces challenges in terms of accessibility, user experience, and regulations.

Relevant content related to Web3

In the 3rd edition of the Innovation Summit of ICEMD, the Innovation Institute of ESIC, Jesús Serrano, Principal Program Manager @ Microsoft, made a memorable speech explaining the concept of Web 3. You can see it in the following video.

“Cryptopia: Bitcoin, Blockchains and the Future of the Internet” is a documentary film directed by Torsten Hoffmann that explores the world of cryptocurrencies and blockchain technology. The documentary is a continuation of Hoffmann’s previous work, “Bitcoin: The End of Money As We Know It”, and is structured in three chapters that address different aspects of this topic. In the The third chapter deals with concepts related to Web3. Do not miss it

Other Sources:
Introduction to Web3- Ethereum ORG
Web3 – Wikipedia

Have a good week!

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