greetings everyone and welcome this is neo and you are watching fintech
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if you have any questions please leave a comment below the achievements of the technology called
internet cannot be disregarded world wide web aka internet came to existence in 1983.
in such a small amount of time the effect and inspiration it brought has changed our lives
so prominently when the internet was first introduced it didn't look like what we know
as internet today it consisted of words and just them not a single photo or video was their viktor
and that was called web 1.0 in that era there was no interaction between the users in the network
however in the mid 2000s we were introduced to the new form of the internet this new form of internet
was constructed on communities and communication between them and this was called web 2.0 that was
the era many social media websites have also been introduced such as facebook and youtube
also in the middle of this timeline the use of internet moved to the mobile devices thanks to
technological advancements so the communication and connection between people was much more
accessible but however all these came at a cost these centralized companies such as facebook
started to collect data from us in order to suit our needs better yet eventually this private data
was so utilizable that they started to sell this information to the advertisers so that we would be
further drawn into consuming we nothing gave up our privacy for the sake of accessibility
and convenience for example when you use google maps you share your location data with it
but it comes with various benefits and it can help you in urgent or troublesome situations but that
also means google knows what your favorite food is based on the restaurants you visit people also
ignore their privacy for the sake of virtual love and to be feel admired by sharing every moment
they experience on social media information is power and the era we are in right now means that
more information for these big companies and thus our era is centralized by these big companies such
as facebook youtube google and apple however the progress of course did not stop there it became so
much more than we can imagine in the 2000s just like it was hard for people to visualize social
media in the 80s something called bitcoin was introduced in 2008 but only in mid-2010s we became
aware of its potential the technologies it brought such as blockchain and peer-to-peer transaction
was so unexpected that even the fast-paced internet world struggled to adapt bitcoin
brought decentralization to the online finance world the way it worked was connecting users
into a one big network and letting them solve and approve problems so that they could turn
this processing power into cryptocurrencies this technology does not involve any company that owns
the network instead the data is stored across the network even though many internet phenomena
such as metaverse nfd and ethereum have become big parts of our lives we can say that the technology
is still in its infancy with the web 3.0 the companies or the government will not be in power
instead you will own anything you post or create like nfts and you can earn money on it
also because the companies will not be relevant what is going to happen in the internet world will
be decided by users so it will bring democracy to the internet world moreover you will not have
to share your personal identity by any means if you do not want to censorship will also be
out of question for the sake of freedom bitcoin changed the internet game forever by introducing
decentralization and now we believe the future will be a decentralization of the internet
and this will be called web 3.0 the novelties that the crypto technology brought will be the basis on
this new era no matter how much we try it's really hard for us to visualize what web 3.0 will be like
but we sure do know that it's not far away now thank you for watching fintech see you next time