Web3 or blockchain-based decentralized technology presents many potentials that can change you
1. DeFi (Decentralized Finance)
Web3 enables the creation of financial services without intermediaries, such as banks. Through smart contracts, users can borrow, lend, and trade assets without having to rely on traditional financial institutions. Examples: Aave, Compound.
2. DAO (Decentralized Autonomous Organization):
DAO is an organization run entirely by smart contracts, without the need for centralized management. DAO members can vote on important decisions. Examples: MakerDAO, Uniswap.
3. Decentralized Digital Identity (Self-Sovereign Identity):
Web3 enables decentralized digital identity where users have full control over their personal data, minimizing the risk of data breaches and increasing privacy. Examples: Ontology, uPort.
4. Supply Chain Transparency:
Blockchain can provide full transparency into the supply chain, from raw materials to finished products, allowing consumers and producers to track every stage of the process. Examples: VeChain, IBM Food Trust.
5. Blockchain-Based Gaming:
The gaming industry will grow faster with Web3 technology through the concept of play-to-earn, where players can earn money by playing games and owning in-game assets. Example: Gala Games, Splinterlands.
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