Summary of Why the Net Giants Are Worried About the Web 3.0

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Why the Net Giants Are Worried About the Web 3.0 summary
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Recommendation

Although many love social media and the joys of Web 2.0, those technologies have helped to consolidate Internet power among a relatively small group of giant tech companies. In this post on the Medium platform, Matteo Gianpietro Zago, founder of Essentia.one and chairman of The Internet of Blockchains Foundation, explains how blockchains are poised to decentralize the net and transform it into a more egalitarian electronic society. The prose isn’t the cleanest – and Zago’s bias is heavy – but getAbstract recommends this read for anyone interested in the possible future of the Internet.

In this summary, you will learn

  • How social media and Web 2.0 empowered huge corporations at the expense of smaller Internet players,
  • Why blockchain has the potential to disrupt every aspect of the Internet, and
  • Which types of services already employ blockchain and which might be next.
 

About the Author

Matteo Gianpietro Zago is the founder of Essentia.one and the chairman of The Internet of Blockchains Foundation. He is also a frequent tech contributor at Medium.com.

 

Summary

One overarching feature of the modern Internet, dubbed Web 2.0, is the consolidation of power into the hands of a few huge corporations. Even when preaching an altruistic message, most initiatives from these giants only enhance their control, as evidenced by Facebook’s efforts to bring the Internet to underdeveloped countries through its Internet.org push.


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