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Inside ‘Web3,’ Crypto’s Plan to Retool the Internet: QuickTake

Jan. 20, 2022, 8:43 AM

Crypto enthusiasts don’t only dream of revolutionizing the world of money. They want to reinvent the World Wide Web. That vision, which goes by the name of “Web3,” is of a decentralized environment built on crypto technology in which swarms of collaborators take back control of the web from giant tech companies. It’s a threat that those tech firms -- including Facebook owner Meta Platforms Inc. and Twitter Inc. -- are starting to take seriously.

1. Why Web3?

The idea is this: The early web was composed of static pages of text and simple images. In what became known as ...