Experts have expressed concerns over how to regulate a decentralised internet, which would make it even more difficult to prevent cybercrime, hate speech and misinformation.
Web3 can also be hard to use but experts say the challenge is not if people can access it easily but if they know how to manage their data securely.
Pascal gauthier, CEO of Ledger, opines: “Anyone on the planet can access Bitcoin or Ethereum today, as long as you have an internet connection. So there are billions of human beings that can access Web3 systems while the same human beings cannot necessarily access the banking system. To understand how Web3 works, there are some mistakes you should be aware of and you have to pay attention to your safety.
“Before, in the financial world, security was provided by your bank. All of a sudden, now, you have to do it yourself since you own the privileges and you can manage your money online. So that means that there is a whole education and understanding part of the security issues that are important.”