While Web2 companies continue to implement Web3 features, they are limited to their gated ecosystem, thus preventing the true potential of Web3. How can this change? [AD]
The advent of the consumer internet in the 1990s brought unprecedented opportunities, democratizing access to information and communication, and revolutionizing digital commerce.
Today, information and money are transferred seamlessly via numerous online services. The protocols that power these services may have been developed in the 1990s, but it took several years before they were intuitive enough to be used by the masses. Banks used to be places where customers went to cash checks and apply for mortgages, among other things. Today, consumers have turned to apps that facilitate and allow them to carry out all of their daily banking on their phones. Whilst this makes banking more convenient, these apps still follow a gated model, also known as Web2, that does not offer users any freedom or autonomy — this method stands in stark contrast to the era of Web1 in the 1990s.
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