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from Part IV - Challenges and Future Horizons of Web3
Published online by Cambridge University Press: 21 November 2024
Chapter 11 envisions the future potential of Web3 technologies in reshaping the web. It covers key areas such as generative AI, DeFi, mobile apps, cloud infrastructure, and the Metaverse. In DeFi, the focus is on scalability, interoperability, regenerative finance, decentralized identity, and its integration with social networks. The convergence of generative AI and Web3 is examined through case studies and applications, while mobile apps are explored as nodes for consensus algorithms, providing decentralized and secure networks. The impact of Web3 on cloud infrastructure includes decentralized storage, blockchain-based authentication and authorization, decentralized computing resources, and token-based incentives. Lastly, the chapter delves into the Metaverse, discussing decentralized ownership, token economies, identity and privacy considerations, interoperability, and decentralized governance. Through these explorations, the chapter highlights the transformative potential of Web3 in fostering decentralization, inclusivity, and innovation in the digital era.
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