Web3

Ravi Sarathy

Chapter 60 in Elgar Encyclopedia of Cryptocurrencies, Blockchain and DLT, 2026, pp 292-297 from Edward Elgar Publishing

Abstract: Web3 (also referred to as Web 3.0), with new software capabilities and a move to decentralized networks, is intended to overcome flaws in the current Web 2.0 structure and solutions. Web3's intended benefits include protecting the rights of digital asset creators, facilitating decentralized peer-to-peer transacting and exchange of value, while avoiding intermediary controls and fees, enabling secure digital payments, combining 3D images and graphics with traditional Web content, and better protecting individual privacy and digital data. However, realizing Web3's benefits will depend on continuing technological advances and their adoption, enhanced scalability and interoperability, easy-to-use interfaces, risk management architecture protecting consumers and investors, and implementation of decentralized governance to prevent continuing domination of Web solutions by established incumbents.

Keywords: Web3; Metaverse; Decentralization; Disruptive innovation; Augmented reality; Tokenization (search for similar items in EconPapers)
Date: 2026
ISBN: 9781035339952
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.elgaronline.com/doi/10.4337/9781035339969.00066 (application/pdf)
Our link check indicates that this URL is bad, the error code is: 403 Forbidden

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:elg:eechap:23612_61

Ordering information: This item can be ordered from
http://www.e-elgar.com

Access Statistics for this chapter

More chapters in Chapters from Edward Elgar Publishing
Bibliographic data for series maintained by Jack Sweeney ().