Over time, the internet has experienced abrupt evolution from read-only, static content to more interactive and decentralized experiences. We have shifted from Web 1.0 to Web 2.0 and now Web 3.0. There have been innovations such as decentralized finance (DeFi), blockchain, the metaverse, cryptocurrencies, and even distributed ledgers. For the past few years, cryptocurrencies have been the latest hype among investors, with a market capitalization of $2.2 trillion as of December 2021. Cryptocurrencies, however, have not received the best welcome from everybody. Governments worldwide are looking to regulate them, with China and Singapore already banning crypto transactions. The reason is that they have been associated with money laundering and criminal activity. With crypto issues such as high volatility, scalability, security, and limited use cases, maybe it is about time we shifted focus to DeFi and Web 3. Changing How Finance Works With DeFi and Web3, consumers will be able to manage their finances in a whole new way. Notably, DeFi forms the basis of blockchain technology and digital assets. DeFi is a type of finance that, as the name indicates, does not rely on centralized intermediaries (such as banks) to function because everything is already on the blockchain. Web3, on the other hand, is the next generation of the internet that will feature DeFi and other blockchain systems. With this in mind, the two are the gateway to tr...
