Exploring the Positive Impact of Web3 and Blockchain on the Global Economy
The world is on the cusp of changed as web3 and blockchain reshape our global economy and individual financial system. Web3 and blockchain technology take a positive impact in today's society by offering several opportunities for business and innovation, and even make transparency and decentralization possible.
In my previous post I say something on how blockchain innovation is opened a door of possibilities for individuals, how this innovation 'blockchain' is paving a way for many people by using web3 to modify financial sectors and creating a new job environment for everyone to build on skills. However, in this post, I will give more insight on web3 contribution to the global economy and how the both are positively impacting the financial landscape.
Understanding Web3 and blockchain technology
No doubt we are in blockchain era, the era that giving birth to another advance innovation "web3". Web3 comes in as a messiah for businesses growth, its transform the way individual interact with internet, pave a way for new job in digital world without need of CV. But what exactly Web3 offer, and how Blockchain powered it for more global usage?
Well, let me dive in from what is web3..
Web3 is the new generation of internet, an internet that is more different from our web2 which solemnly relied on intermediaries and centralized entities. Web3 is build around Decentralized applications and it's powered by blockchain technology for it operation.
So if we have to look at the benefits and advantages that surrounds this innovation, we will realize that web3 aims is beyond rebuild and give a financial landscape back to individual to have a control, it also wants to integrate a good data management and new job environment to people who embrace it.
Individual will be allowed to have a fully control over their identity and data unlike centralized entities that heavy relied on their users data.
No doubt our financial system will have a better future as this innovation gained more ground in the society, and it will encouraged more traditional skills to participate on the blockchain and help decreasing people reliance on centralized entities. Web3 and blockchain will make sure everyone have that control over their data and it will ensure proper data management in our financial landscape.
Will Web3 and blockchain disrupting traditional financial systems?
The emergence of this two innovation already disrupting traditional finance system because it already paved a way for transparent, reduce transaction fees and lack of identification. With Web3 and blockchain, individuals can access financial services such as banking, lending, and remittances in any location. So I think this technology should be embrace and people should work towards building it. The future of web3 and opportunity are endless, this is the right time to embrace the possibilities on blockchain.