How does Web 3.0 relate to blockchain?

Since the web appeared, the internet has gone through many evolutionary processesimprove the experience of users and therefore companies that can offer their services online.

As we know, the Web has three different phases, the first of which is static and focused solely on reading. Shortly after, the second phase showed more interaction between users and was marked by knowledge sharing. We finally arrive Web 3.0 that enables user personalization to use your marketing as one of its main pillars.

While there is already speculation about the next phase of the web, Web 4.0, Blockchain system, regarding cryptocurrencies, on Web 3.0. Check out more details on this topic below!

Blockchain and cryptocurrencies: learn how Web 3.0 can be correlated

Blockchain System consists of a database that provides greater security for cryptocurrency transactions they happen virtually. There are currently several cryptocurrencies in the world, and some already have significant expansion in certain digital environments.

A report published by The Goldman Sachs Group of New York in 2021 states that this technological system It will be fundamental to the development of Web 3.0, as well as other trends of the moment, including even the metaverse..

“One technology [disponível atualmente] can uniquely identify any virtual object independent of a central authority”, highlighted a quote from the report.

In addition, according to this financial institution, Web 3.0 will benefit from the blockchain system due to its conditions. which will be even more beneficial when considering all the technological innovations in the future. In this context, it can be argued that this trend will succeed in making the data security of users less vulnerable and more autonomous.

Through this report, Goldman Sachs analysts had the opportunity to demonstrate to the world their belief in the blockchain system, which may not be limited to cryptocurrencies, in their opinion.

However, given that there is still much debate around the issue, Blockchain makes all transactions anonymoussomehow the opposite of what would be expected from Web 3.0 where everything can be watched.

Could Web 3.0 affect the financial market?

Although there are many who criticize the integration between Web 3.0 and Blockchain, it is mainly because of this initial trend. would continue to use centralized services to stay activeThere are many enthusiasts of the subject. As highlighted earlier, Web 3.0 brings with it many issues to be discussed mainly because of this ideal that guarantees the privacy of users.

Therefore, companies would no longer use centralized servers for data storage and would rely on other technologies to stay active. And with this decentralization, Users are the people who will truly have the power to decide whether to share their data and information with third parties.mainly due to encrypted systems.

While it may seem complex and otherworldly, reality shows that There are several advantages for this integration to be effective.. However, although many institutions believe that they cannot adversely affect the entire existing chain in the financial market, some institutions may find it difficult to adapt to this new trend.

“It’s difficult to predict investment results right now, but the business models of companies that rely on centralized control of user identity are likely to be challenged by blockchain adoption,” analysts at The Goldman Sachs Group said via the report released in 2021.

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