Web3 represents an evolution towards a more equitable Internet, where power is distributed more evenly, and users play a more active role in the governance and ownership of their data.
Here are a few examples of how Web3 can be used:
=> Decentralized governance: Decentralized governance protocols allow token holders to participate in important decisions concerning the development and direction of a project. An example concerning whistleblower protection will be presented soon.
=> Decentralized identity: Projects like Veramo and Sovrin are exploring decentralized identity solutions where users securely control and share their identity information. Veintree proposes to transform identity into a non-nominative authentication token.
=> Blockchain and cryptocurrencies: Cryptocurrencies such as Bitcoin and Ethereum are examples of Web3 projects. They use blockchain technology to enable decentralized transactions and smart contracts.
=> Smart contracts: Smart contracts on platforms like Ethereum enable the automatic and seamless execution of agreements, without the need for a central authority.
=> Decentralized social networks: Projects like Steemit and Mastodon are exploring decentralized models for social networks, where users have more control over their content and engagement.
=> Decentralized finance (DeFi): DeFi protocols use Web3 to create decentralized financial services, including lending, borrowing, trading, and market creation.
=> NFTs (Non-Fungible Tokens): NFTs, which represent ownership of unique digital assets, are often issued on platforms using Web3 technology, such as Ethereum.
=> Decentralized markets: Decentralized platforms enable the creation and exchange of goods and services, without a central intermediary.
=> Internet of Things (IoT): The Web3 approach can be used to create decentralized IoT networks, where devices can interact and share data securely, as is the case with Veintree's scanners, which will eventually be integrated into cell phones.
=> Decentralized healthcare: Web3 could be used to create decentralized healthcare systems where users have control over their medical records, as Veintree and its partner Kyrneo are currently planning.
=> Education and content: Decentralized models can emerge in the education sector by allowing students to own and control their own academic data.