Blog: Technology

Facebook was not the first web 2.0 company, but it was the one that took it mainstream to a global audience. Consumers’ digital lives would never be the same again. Whereas web 1.0 had enabled them to visit and read websites, much like a digital evolution of newspapers and magazines, Facebook enabled consumers to participate, to comment, upload photos, converse, etc.

Strike up a five-minute conversation with someone in the Web3 space, and any combination of the words “forward-thinking”, “revolutionary”, and “equitable” is bound to come up. Many proponents of NFTs, DAOs, the metaverse, and other Web3 concepts seek to use decentralisation to dismantle old systems and bring power to the people — and their intentions are, for the most part, good.