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AIM Long Reads: Why can’t India afford to miss the Web3 boat?

Web3 will contribute USD 1.1 trillion to India’s GDP.
The third generation of the internet, Web3, is a combination of evolving technologies including blockchain, NFTs, digital avatars and more. The defining feature of Web3 is decentralisation. Writer and editor Max Reads explained Web3 as “software built on the blockchain — which is synchronised and held in common across multiple computers, instead of on servers owned by a single company — will be naturally decentralised, by virtue of how the blockchain works.”  Web1 is the brainchild of Tim Berners-Lee. The era of ‘Read-Only Web’, lasted roughly from 1989 to 2005. In comparison to Web1–characterised by static pages–Web2 is more interactive with user-generated content and interoperability. According to Chris Dixon of venture capital firm a16z, Web3 combines the best of
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Picture of Avi Gopani
Avi Gopani
Avi Gopani is a technology journalist that seeks to analyse industry trends and developments from an interdisciplinary perspective at Analytics India Magazine. Her articles chronicle cultural, political and social stories that are curated with a focus on the evolving technologies of artificial intelligence and data analytics.
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