Web3: An Internet Built Around Users
The web has changed a lot since the 1990s.
The first version, Web1, was read-only. You could browse websites, but you couldn’t comment, post, or interact. It was mostly one-way communication.
Then came Web2. Starting in the mid-2000s, we began to post, comment, and share on platforms like YouTube, Facebook, and Twitter. But there was a catch. We got free tools, but gave up control of our data. A few companies gained enormous power, and haven’t always used it responsibly. Now, more users are realizing they’ve become the product, and they’re increasingly uneasy with how much control they’ve handed over.
That growing discomfort led people to ask a new question: What if we could use the internet without giving everything away?
Web3 is one answer. It builds on the past, but adds something missing: ownership. Instead of relying on platforms run by tech giants, users interact through decentralized systems anyone can help build or govern. You can store your identity in a wallet, protect your personal data, and earn tokens for helping networks grow.
Ethereum co-founder Gavin Wood called Web3 a “reimagination of the sorts of things we already use the web for, but with a fundamentally different model for the interactions between parties.”
His vision breaks down trust into three parts:
“Information that we assume to be public, we publish. Information that we assume to be agreed, we place on a consensus-ledger. Information that we assume to be private, we keep secret and never reveal.”
In short:
Web1 let us read.
Web2 let us write.
Web3 lets us own.
Wallets and Digital Identity
In Web3, your wallet works like a digital passport. It stores the keys that prove what you own, lets you sign in across apps, and keeps you in control of your online identity.
Instead of creating new accounts everywhere, you use one wallet (like MetaMask) to prove what you own and sign in securely, without relying on a big tech platform.
It puts you in control of your identity across the web.
Blockchains and Smart Contracts
How do you trust a system when there’s no one in charge? That’s where blockchains and smart contracts come in. A blockchain is a shared record of information stored across thousands of computers. These computers all agree on what gets added, so it’s nearly impossible to cheat or change the past.
On top of blockchains, smart contracts act like small programs that run automatically when certain rules are met. For example, a smart contract might say: Send payment to Alice if her file upload is verified. When the condition is met, the smart contract triggers the payment automatically.
Smart contracts make it possible for people who don’t know each other to trust each other, make agreements, or exchange value online with no one in the middle.
Tokens and Incentives
Tokens help Web3 networks function and grow.
Tokens are digital items that hold value or give you certain rights in a network. Some work like money, while others called NFTs, represent something unique: a song, a domain name, a membership pass.
But tokens do more than just move around. They’re programmable, which means they can follow rules, respond to events, and work across different apps.
Users can earn tokens by helping the network: validating transactions, providing storage or creating content. The more useful the network becomes, the more valuable the token, and the more aligned the incentives. This creates a permissionless system where anyone can participate, contribute, and benefit.
Why Web3 Matters: Use Cases and Impacts
Decentralized Finance (DeFi): Open Access to Money
DeFi, or decentralized finance, lets anyone lend, borrow, or trade with no bank required. It’s one of Web3’s clearest use cases. A smart contract handles the rules and automates the transaction.
By removing banks and brokers, DeFi gives people faster access, lower fees, and fewer barriers. For example, someone in Kenya can use crypto as collateral and get a loan in seconds, something that might take weeks at a local bank.
DeFi is already moving billions in daily transactions. It shows how Web3 can cut out middlemen and give users more direct control over their finances.
NFTs: A New Kind of Digital Ownership
NFTs are digital tokens that prove you own something unique, like art, a digital collectible, or a game item. In Web2, creators often gave up control and earned very little. Web3 gives them a way to keep ownership and get paid directly.
And NFTs are evolving beyond collectibles. Some are tied to real-world assets like event tickets, property titles, or supply chain data. Others act like digital keys, unlocking perks, memberships, or services.
The key shift is that NFTs make ownership portable. You can use, sell, or carry your assets between platforms. Portable ownership gives creators more freedom and users more control over how they interact online.
Decentralized Social Media: Taking Back Your Profile
Most social networks keep your data trapped. If you leave, you lose your posts, your followers, and part of your identity.
Web3 takes a different approach. Platforms like Lens Protocol let you own your profile as an NFT. Your posts and connections live on a public blockchain instead of being trapped in one app.
That means you can take your profile with you, move between platforms, and keep your audience. No one can delete your account or cut off your reach. It also makes it easier to earn from your content and avoid censorship.
Web3 social networks are still early, but they show what it looks like when users own their identity and community.
DAOs: Shared Ownership
Web3 also enables new ways for people to work together. DAOs, short for decentralized autonomous organizations, are online groups that share resources and make decisions using code. Members vote on proposals using tokens, and every decision is recorded transparently on a public blockchain.
Anyone, anywhere, can join and help guide the group. There’s no need for a traditional director or board.
Self-Sovereign Identity: Owning Your Online Identity
One of Web3’s most powerful ideas is self-sovereign identity. It means you control your digital identity. Not the government, not Google or Facebook.
Instead of creating new accounts for every site, you use a secure wallet to manage your identity. Verified info, like your age or education, can be added and shown only when needed. For example, you could prove you’re over 18 without revealing your name or birthday.
This puts you in charge of your data and makes privacy the default.
Is Web3 Living Up to Its Promises?
Web3 promises an internet that’s open, user-owned, and accessible to all. But turning that into reality has proven difficult. Here’s a closer look at where the biggest challenges remain.
Centralization Despite Decentralization
Many Web3 systems rely on centralized infrastructure behind the scenes. Apps often depend on cloud servers, API gateways, or blockchain data services run by a few companies. These dependencies create single points of failure. If one service fails, the entire system can stop working.
Governance often stays centralized. Early token holders or core teams tend to keep most of the voting power, shaping outcomes long after launch. As Moxie Marlinspike put it, Web3 systems often “recentralize at certain layers,” where control ends up concentrated despite the goal of decentralization.
Even NFTs highlight this gap. What you “own” on-chain is often just a pointer to a file stored elsewhere. If that external server goes offline, your asset disappears. This has already happened, leaving users with broken links instead of digital art.
User Experience Gaps
Most people still find Web3 confusing. To use it, you need to install a wallet, write down a recovery phrase, and understand how to sign blockchain transactions. If you lose your seed password, your wallet is permanently lost.
Web2 is more forgiving. You can reset a password or call support. Web3 doesn’t have those safety nets yet. Even basic actions, like sending tokens or making a purchase, can take minutes or cost several dollars when the network is congested.
New tools like mobile wallets and simpler logins are improving things, but the learning curve remains steep. Until using Web3 feels as smooth as using your phone, most people will stay with what they know.
Fragmented Regulation
Web3 still lives in a legal gray area. Governments are trying to catch up, but the rules are uneven and unclear.
In the European Union, new rules called MiCA started rolling out in 2024. They aim to standardize how crypto companies operate. But enforcement still varies. Some countries, like Malta, were flagged for offering licenses too easily, raising fears of weak oversight.
In the United States, there’s still no agreement on how to classify crypto assets. Different agencies claim authority, and no clear framework has passed yet.
This regulatory uncertainty slows innovation and keeps many companies and users on the sidelines. Without consistent regulation, trust is hard to build.
Trust Issues and Market Turmoil
The 2022 crash wiped out billions and exposed deeper issues. Platforms like FTX and TerraUSD collapsed due to fraud, unsecure designs, or both. Many users lost everything. These failures showed that decentralization alone doesn’t guarantee safety or accountability.
DAOs and token systems also revealed flaws. In many projects, token-based governance led to concentrated control, undercutting the idea of shared ownership.
Web3 set out to replace middlemen with code. But trust still depends on design, process, and people. Without those, even open systems can fail.
The Blockchain Trilemma: Decentralization, Security, or Speed?
Web3 faces a core challenge: it’s hard to build a network that is decentralized, secure, and scalable all at once. Ethereum, for example, focuses on decentralization and security. But that means slower transactions and higher fees during peak times.
New designs are trying to solve this. Rollups bundle transactions to reduce congestion. Modular chains split up network roles for better efficiency. Off-chain layers let apps run faster while anchoring key data to a blockchain.
Web3 Comes with an Environmental Price Tag
Not all blockchains are created equal and some carry a heavy environmental cost. Networks that rely on Proof of Work (PoW), like Bitcoin, require massive amounts of energy to validate transactions. This constant computation burns electricity and generates significant e-waste.
One study estimated that a single Bitcoin transaction can produce as much e-waste as a MacBook Air, with Bitcoin’s annual energy use rivaling that of countries like the Netherlands.
Thankfully, the tide is turning. Ethereum completed its shift to Proof of Stake in 2022, cutting its energy use by over 99%. Other networks, like Cardano and Solana, were built from the start with energy efficiency in mind.
Still, many Web3 systems remain tied to high-energy models. Until energy-efficient consensus becomes the norm, the environmental impact will remain a valid concern for the Web3 ecosystem.
World Mobile: Web3 Meets the Real-World Signal
Traditional telecom: locked and centralized
Big carriers have spent billions building infrastructure, laying fiber, and securing spectrum. That investment brought coverage to cities and highways, but it also locked telecom into a profit-driven model. Networks grow where returns are highest, not where people are most in need. Rural villages and low-income areas often go unconnected for years—not because it’s impossible, but because it’s unprofitable.
And when you are connected, there’s a catch: your data. Telecoms track who you call, where you go, and what you browse. That data is often packaged, analyzed, and sold. Like social media platforms, telecoms treat users as both customers and products.
Privacy is no guarantee. Major breaches have exposed millions of records. Trusting your carrier means depending on systems with a history of failure.
So yes, traditional telecom has delivered coverage, but it did so by putting profit over inclusion and demanding control over your data as the price of access.
World Mobile, the Web3 telecom
World Mobile asks a simple question: what if people owned the network?
It combines recent advances in telecom hardware with Web3 tools like blockchain and decentralized identity to rethink how networks are built, owned, and shared. Those who help run the network also earn a share of its value.
People can fund or install the equipment that delivers wireless coverage in homes, businesses, or shared spaces. These AirNodes bring people online and generate earnings for those who set them up or help fund them.
Independent operators also run EarthNodes, specialized computers that help validate data and support key services. Together, they keep the system running without a central authority.
Every transaction and interaction is recorded on the World Mobile Chain, a public blockchain built for telecom. It keeps the system transparent and trustworthy while meeting regulatory needs. Your digital identity lives in a secure wallet you control. Your data is encrypted by default, and you choose what to share and with whom.
World Mobile shows what Web3 can look like in practice: a user-owned telecom network designed to reach the people traditional models left behind.
The Future of Web3 Is Still Unwritten
Web3 is full of ambition but still short on certainty. Its promises of ownership, decentralization, and open access are compelling, yet many challenges remain.
What matters is what gets built, who it serves, and whether it truly shifts power. Web3 might reshape the internet, or it might quietly fade like other tech waves. Either way, elements like wallets, tokens, and decentralized identity are likely to stick around.
The real question isn’t whether Web3 will succeed, but what shape it takes and who it’s built for. That part is still up for grabs.