By Pete Harris, Executive Director, Austin Blockchain Collective
It’s too late for 2020 predictions so here is one for the decade ahead … read this blog to the very end …
Web 3.0 describes the next phase of the internet where control and privacy, and hence power, will be restored back to individuals and away from big tech companies that millions of people and businesses have come to rely on (to their benefit for sure, but at potentially great cost).
Blockchain technology — specifically public blockchain — is a key enabler of Web 3.0. So too is decentralized storage and query mechanisms, decentralized telecommunications, tools to build decentralized applications. And integration gateways with other public blockchains, private blockchains and non-blockchain applications and databases.
The Web 3.0 term was coined in 2014 by Gavin Wood, a Brit computer scientist who was the first CTO of Ethereum. He went on to found Parity Technologies and the Web3 Foundation, which is now rolling out its first public blockchain projects, known as Substrate and Polkadot.
About the Author
Pete Harris is Principal of Lighthouse Partners. He has 40+ years of business and technology experience, focusing in recent years on business applications of blockchain and distributed ledger technologies.