# Web 3.0: User Ownership

Web 3.0 empowered by blockchains, cryptocurrencies and NFTs to give ownership back to users.

* **permissionless:** all has equal access to participate in Web3, no 3rd party approval required
* **streamlined payments:**  leverage smart contracts to automate transactions over the internet
* **trustless:** rely on incentives and economic mechanisms instead of trusted third-parties
* **Web 3.0 identity:** blockchain address as a single login across platforms that is secure and anonymous
* **decentralized ownership:** asset owners have full ownership, no centralized entities involved

| Web 1 💾                  | Web 2 💻              | Web 3 🧍‍♂️               |
| ------------------------- | --------------------- | ------------------------- |
| Read-Only                 | Read-Write            | Read-Write-Execute        |
| Central authorities focus | Communities focus     | Individual focus          |
| Centrally owned           | Centralized services  | Decentralized             |
| Static web page           | Web application       | Smart contract automation |
| Display information       | Interaction & Sharing | Immersion experiences     |

### Decentralized Autonomous Organization (DAO)

* enable decentralized governance for stakeholder to propose ideas
* all DAO members can participate in decision making process, e.g. decide the entity's future plan
* voting power is distributed among the token holders, which is permissionless and censorship-resistant
* token holders (investors) are more motivated to make decision favours the entity
* DAO can vote on a predefined operation, which can be executed automatically when certain rules fulfilled
* proposals, votings, transactions are all transparent on the blockchain

### Decentralized Identity (DID)

* digital wallet stores identity and credential information issued by certified issuers
  * complete control over who has access to our data
  * standardised decentralised identity can be a single identity for all services
* give users control over what data they share with 3rd party organisations, access can be revoked anytime
* encrypted identifiers (public key) proof your identity when access public services
* sign with private key to verify you're the identity owners