Thanks to Web 3, cryptocurrencies will come to be recognized as more than just an investment or payment mechanism. Bitcoin casinos are an illustration of how cryptocurrencies are used in the online gaming industry.
From Web1 to Web3
We have come a long way in decentralizing data. From Web1 to Web2, technology players have enabled Internet users to create and share information through websites. But since they don’t really have their own data! This is where the problem lies.
Moreover, since Web2 is mainly governed by giant technology companies – GAFAM not to name them – Internet users have no idea what real privacy is and the property.
Web3, with the help of blockchain, is a game changer. It offers users access to an open Internet, without the need to trust a powerful actor and without the need for authorization. In this ecosystem, they no longer depend on GAFAMs and are less likely to compromise their privacy by using their applications.
Online transactions in 2 clicks without KYC hassle!
From Web1 to Web3, the advancements in privacy and storage have been enormous. Those who wish to gamble anonymously online, for example, can use cryptocurrencies. They only needa wallet address to connect to a Web3 gaming platform that does not complicate the task with KYC verifications.
Although complete privacy is impossible to achieve, crypto transactions are more private than bank transfers. And it will be fascinating to watch how this method of authentication will be more and more adopted by companies, whether they are technological or not.
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Alm Maye has been a trader and analyst since 2013. He is an expert in equity markets, Forex and cryptocurrencies. He is the creator of Almvest.com and Imveste.com, two sites dedicated to personal finance. He participates in the development of feature articles on specialized sites such as Actions-boursieres.fr, as well as the international network of Finixio.com.