The last couple of years has witnessed the birth and growth of new blockchain-based innovations such as cryptocurrencies, non-fungible tokens (NFTs), decentralized finance (DeFi), and decentralized autonomous organizations (DAOs). The latest addition to this impressive collection is likely to be Web 3.0. Web 3.0 is the newest iteration of the internet, and it is a convergence of artificial intelligence (AI), machine learning (ML), and distributed ledger technology (DLT). This version of the World Wide Web will allow individual users to own and control their own data and content. In the current version of the internet, giant centralized corporations own user data and also take large chunks of earnings deriving from user-generated content. It will probably take a while before the use of Web 3.0 becomes more widespread. But starting in 2023, expect to see a more marked utilization of the “semantic web,” especially in social gaming networks and blockchain-enabled business models. In this short article, we will take a look at some of the areas we expect to be highly influenced by Web 3.0 in 2023. DeFi Protocols Decentralized finance is a system that makes financial products available to consumers on decentralized peer-to-peer networks. This system also removes the control and influence that traditional transactional intermediaries, such as banks, had on money and other financial products and services. The development of Web 3.0 wil...
