Harang Ju, Georgios Petropoulos
Web3 is a new paradigm that could define a new internet era. It is based on blockchain, a technology through which a network of computers – called nodes – can execute and validate changes to a public ledger. Blockchains can be used to record ownership of goods and claims to services, and because this information is public, ownership can be verified by anyone. This could mark a shift that will disrupt current digital business models by offering firms and consumers new types of opportunities. To get the most out of this upcoming digital revolution, however, new rules, legal guidelines, marketing strategies and user awareness need to be established.