Restructuring Risks of the Internet in the Context of Web3.0 and Decentralization

03/01/2023 03:27 • Daily Digest • 71 views

It is reported that the reporter of the “Half Moon Talk” hosted by the Xinhua News Agency recently released an article saying that with the rise and fall of new technology concepts such as the Meta Universe and NFT, the current Internet, which has been running steadily for many years, is facing restructuring risks, and the challengers are trying to break the industry monopoly by using decentralization as a sharp edge. At present, many governments have paid close attention to and actively explored the development of Web3.0. Standardization organizations are carrying out technical research and standard formulation around key directions such as distributed identification and digital assets. The scale and quantity of Web3.0 investment and financing continue to grow. Internet enterprises and enterprises from other industries are looking for new industrial opportunities through Web3.0.

Xinhua News Agency: Accelerating the construction of Web3.0 application scenarios is expected to reshape the new ecosystem of the Internet

Interpretation of the news:

The world has witnessed the emergence and expansion of new technology concepts such as the meta-universe, blockchain, and NFTs. As a result, the internet, which has been steadily running and dominating the world for many years, is now facing restructuring risks. Challengers are trying to break the industry monopoly by using decentralization as a sharp edge.

Web3.0 is described as the new internet era, marked by decentralization, open data, and smart contracts. Moreover, it is becoming an attractive option for governments and private companies globally. Standardization organizations place significant importance around key areas like distributed identification and digital assets, carrying out technical research, and formulation of standards in the respective fields.

The report highlights the steady growth in the scale and quantity of Web3.0 investment and financing activities. Different internet enterprises and companies from other industries are also searching for new opportunities and advancements through the adoption of Web3.0. The attention paid to the development of Web3.0 by many governments and entities globally is an indication of its significant potential in the contemporaneous world.

In conclusion, the rise of new technology concepts such as the meta-universe, blockchain, and NFTs, and the emphasis on decentralization, open data, and smart contracts, are challenges breaking the industry monopoly. In the current era of Web3.0, entities are exploring opportunities to advance their industrial activities and operations. The report emphasizes that countries and organizations globally must adopt and explore innovations presented by Web3.0, leading to potential benefits and developments in various sectors of the economy, ranging from finance to governance.

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