by Max Mersch anf Richard Muirhead
Web 3.0 (originally coined the Semantic Web by Tim Berners-Lee, the Web’s original inventor), is open, trustless and permissionless networks.
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- ‘Open’ in that they are built from open source software built by an open and accessible community of developers and executed in full view of the world.
- ‘Trustless’ in that the network itself allows participants to interact publicly or privately without a trusted third party.
- ‘Permissionless’ in that anyone, both users and suppliers,can participate without authorisation from a governing body.
The ultimate outcome of these new open, trustless and permissionless networks is the possibility to coordinate & incentivise the long tail of work, service, data and content providers that are the disenfranchised backdrop to many of the worlds most acute challenges such as health, food, finance and sustainability.
Where Web 2.0 was driven by the advent of mobile, social and cloud, Web 3.0 is built largely on three new layers of technological innovation: edge computing, decentralised data networks and artificial intelligence.