Web3 enabled by Blockchains

Web3 and the vision of the World Wide Web

Web3 is a new form of Internet that is close to the original vision by Tim Berners-Lee, the inventor of the World Wide Web. It is a web without a central authority exercising control over users‘ data or interfering in communication. Users own and control their data (Forbes).

The blockchain sector has become a major industry worldwide, inviting co-creation of the Web3, a new and decentralized Internet. The innovation is to develop platform-independent applications that give users both control over their data and incentives for using it. The result is a global decentralized Internet that is carried on many shoulders, actively involving users and also offering them direct monetary incentives. This approach contrasts with the platform-based Web2, which sees users primarily as data suppliers for business models based on targeted advertising. Web3 is an alternative Internet that enables entirely new possibilities for collaboration and ownership of digital products. Web3 is conceptually not a reinvention, but rather a return to the beginnings of the Internet (WienerZeitung).

By participating in the mining and staking process on the Stacks Blockchain, as well as expanding these infrastructure activities to other Web3 protocols, MetaStack is actively supporting the development of decentralized services in Web3.

Web3 infrastructure is an opportunity for the whole world and especially Europe to create leading companies and services in the decentralized online technology sector. This is about key technologies of the future, with the chance to actively shape the reinvention of the Internet – independent of the omnipresent platforms of Web2.

In Web3, the user is not just a customer, consumer and data provider, but an active participant and stakeholder in the network. In Web3, unlike Web2, the protocols themselves have value and can be invested in (e.g. Bitcoin vs. TCP/IP). The more Internet users actively engage in Web3 and its decentralized protocols, the more people will also benefit from the incentives that arise – in the form of direct participation in collaborative, digital business models. 

Through technical infrastructure services on the Web3, MetaStack is actively building the foundation of a new Internet that allows everyone to participate within their means. The potential applications are as diverse as society itself and hard to narrow down – creative communities like FriendswithBenefits or blockchain gaming with user participation are just two examples of a new virtual economy that has only one major barrier to entry – to use these new Web3 applications and interact with them securely.