Art Malkov is a Columbia University Blockchain Accelerator Advisor.
The blockchain revolution is upon us. What began as an experiment in finance and technology, initiated by Bitcoin, has now spawned an intricate blockchain ecosystem with countless independent networks. These networks form the infrastructure of Web3, the next generation of internet development.
Simply put, Web3 is the blockchain-based future of the web, in which essential internet services that are currently dominated by tech behemoths (Google, Facebook, Amazon, etc.) will instead be run in a decentralized manner, with finance and governance powers in the hands of the users themselves. Traditional tech companies will likely adopt aspects of blockchain technology, while new Web3 companies will rise to compete with existing businesses.
Bitcoin And The Blockchain Revolution
The launch of Bitcoin in 2009 was the first step in a blockchain technology revolution. Bitcoin was founded as a currency