Web3 is expected to solve most of the shortcomings of Web2.

Privacy

Encrypted wallets protect your online identity.

Censorship

A decentralized database stores everything immutably and transparently.

Centralization

You get a real vote on decisions made by the networks you spend time on. More than that, you get a stake that’s worth something.

Most importantly, you are not a product, you are an owner.

According to Sharad Agarwal, Chief Metaverse Officer of Cyber Gear Dubai,  “The vision of Web3 goes beyond the read/write/own web. There is a major power shift happening from the big brands to ‘we the people’. In the near future, you and I will decide what we will shop, wear, eat, etc. Not the big brands. And in many ways, it will reduce wastage considerably and improve sustainability – Good for the Planet.”

A recent study conducted in the US by Momentive, (formerly known as SurveyMonkey), aimed to explore people’s perceptions of Web3.

According to the study, 27% of respondents had heard of Web3, and 8% of respondents claimed to understand it well. The study also found that support for Web3 was evenly split, with 43% of respondents expressing support for the technology, and 42% expressing skepticism.

When it comes to age groups, the study found that younger people were more likely to support Web3, with 49% of respondents aged 18-24 expressing support, compared to only 36% of respondents aged 55 and over.

The study found that familiarity with Web3 varied greatly depending on the respondents’ level of education. For instance, 44% of respondents with postgraduate degrees had heard of Web3, compared to only 21% of respondents with a high school education or less.

This Web3 guide prepared by Cyber Gear is periodically updated and will hopefully help more people understand all the important terms associated with Web3.

Free download is available at www.cyber-gear.io