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The Uptake | An Alternative Vision

Written by The Uptake Published on   1 min read

Web3: The Myth of Decentralization

First cobbled together in the 1980s, the World Wide Web has allowed users around the world to freely create, distribute, and share content.

The first generation of the internet, Web 1.0, allowed users to read web content but lacked user interaction. Over a decade later, Web 2.0 allowed individuals to read and write online. This iteration of the web later became dominated by tech giants, whose control over users’ personal data has sparked concerns about their data privacy practices.

This was a significant reason that led to the development of the web’s latest incarnation—Web3, which holds the promise of creating a decentralized net that is more inclusive and secure. By deploying blockchain technology, there would no longer be a need for manual processing and authentication by centralized entities.

But can Web3 really live up to the hype of greater decentralization and user ownership?

While the world debates about whether Web3 can create a more transparent and accountable internet for users, China is pushing into this new digital landscape full steam ahead.

Read more about how China is redefining the framework of Web3 in KrASIA Connection here.

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