Alex Tapscott

Every few decades, a set of technologies converge to reconfigure the global economy and the order of human affairs. Today, several revolutionary technologies are emerging all at once: Generative AI and large language models like ChatGPT make people and companies more creative and industrious and unleash new capabilities in the economy. Blockchains, which enable individuals and businesses to move and store value, automate complex business processes, and secure peer-to-peer transactions online without intermediaries. Augmented and virtual realities take today’s two-dimensional Web and turn it into a spatial web integrated with our natural environment. And the Internet of Things: billions of connected devices that can think and do transactions- will form the foundation of our smart and connected world. These technologies are not separate but related. Indeed, the world is entering a new era—call it Web3. Just as the term Internet has expanded from its original inter-networking definition to describe an era that comprises many technologies, business models, and social behaviors, so too is the term Web3 evolving to characterize an era composed of this new grouping of technologies listed above, with new models and behaviors. The convergence of these technologies will define the next era of the Internet and humanity.

The future gets closer every day. Artificial intelligence is becoming less artificial and more intelligent by the second. The “internet of things” will soon connect everything we own to the internet. Augmented reality is blurring the lines between our digital and physical worlds. With these advances, it’s time to rethink the internet that supports it all. We need a new operating system for this new era of digital commerce, culture, and prosperity. Enabled by blockchain technology, Web3 fulfills this need. In Web1, the read web, we accessed information. In Web2, our current read-write web, we access information, share our own, and build community with others. Web3 is the read-write-own web, where internet users become internet owners—taking ownership of their data, online identities, and digital assets. Web3 enables new assets and capabilities that could upend all industries and institutions. New business models will rewards creators, not middlemen. Finance and money will be reimagined. Former mega-brands like Borders and Blockbuster didn’t survive past digital revolutions. With Alex Tapscott’s help, ensure your company doesn’t meet the same fate.