What is ‘Web3’? Here’s the vision for the future of the internet from the man who coined the phrase

CNBC April 19, 2022
Arjun Kharpal

Key Points

– Gavin Wood, founder of blockchain infrastructure company Parity Technologies, coined the term “Web 3.0” in 2014, laying out his vision of the future of the internet.

– For Wood, Web3 is truly decentralized and a more democratic version of the current internet — one that is not dominated by a handful of huge players like Amazon and Microsoft as it is today.

– Wood said that while cryptocurrencies have become popular, Web3 may not rely heavily on cryptocurrencies.

Computer scientist Gavin Wood coined the term “Web 3.0” in 2014, laying out his vision for the future of the internet.

The phrase, also shortened to “Web3,” has become an internet buzzword recently with high-profile technologists, including Twitter founder...

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