Adam Roney has joined the Edufuturists Podcast hosted by Ben Whitaker, Steven Hope and Dan Fitzpatrick for an eye-opening discussion exploring the advent of Web3 and deep-diving into real-world applications. They talked about:
What Web3 is, including Blockchain, Cryptocurrencies and NFTs.
Adam, Dan and Steven explore the concept that Web3 is the next evolution of the internet, where decentralised networks and blockchain technology are used to create a more transparent, secure, and interconnected digital space.
The podcast delves into the various features of Web3, such as cryptocurrencies, smart contracts, and decentralised autonomous organisations (DAOs), and how they could disrupt the traditional centralised structures in various industries, including education.
The differences between Web2 and Web3.
In their conversation, Adam, Steve and Dan discussed the main differences between Web2 and Web3:
- Web2 is characterised by centralised platforms owned and operated by a few corporations (e.g. Google, and Facebook). These platforms collect large amounts of user data, which they use to target ads and generate revenue.
- Web3, on the other hand, is based on decentralised technologies like blockchain, which enable peer-to-peer interactions without the need for intermediaries.
Web3 use cases
Adam also mentions several use cases for Web 3.0, including:
- Digital identity: Web 3.0 could enable users to own and control their digital identities rather than relying on centralised platforms like Facebook or Google to manage their data.
- Content creation and distribution: Web 3.0 could enable creators to monetise their content directly without intermediaries.
- Finance: Web 3.0 could enable decentralised finance (DeFi), allowing users to access financial services without the need for banks or other traditional financial institutions.
Challenges facing web3 adoption
Adam explains some issues that can potentially prevent Web3 mass adoption around scalability, extensive use of jargon, and regulatory uncertainty. He argues that these challenges will need to be addressed for Web 3.0 to reach its full potential.
Watch the video recording above or listen to the podcast.
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As Web3 is in a developmental stage, businesses that are now starting to build their Web3 strategy will be the first to capitalise on its countless opportunities and future-proof their business.
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