I recently listed to Brit Morin explained a few tech buzzwords and I felt compelled to share!  Check out the definitions for you and your grandma below!

Web 3.0

This essentially means we are in the 3rd version of the world wide web/internet. But there is a very interesting difference between each version (shout out to all the folks who know how to swith their floppy from read to write). 

Web 1.0 was dial up where most of the users could only READ what was posted by government or other professional bodies.  Web 2.0 was where people started actually creating content on the internet.  Whether that was blog posts, facebook photo albums or youtube tutorials – meaning we were able to WRITE on the internet.  Web 3.0 is where it’s tricky.  We are still creating content, but we now are starting to realize we do not own any of that data.  Like I am writing this post right now, but I have no legitimate ownership of these words.  It’s technically owned by the companies that store the data (ie: go daddy and wordpress).  When we had floppy disks we could write to it and also share it with others without a real worry that it was going to be stolen.  But now because go daddy has got my blog post on their servers I can’t be for sure they won’t use it for their own gain).

It’s an interesting concept that brings up a lot of questions about control and ownership.

Blockchain

Think of block chain as at type of technology that acts like a ledger.  What is a ledger, it’s a term used in banking to document all transactions of an institution.  Blockchain can be used to track all types & details of transactions (details such as: who made the txn, when, was something bought, was something sold etc).  Why does this matter?  Well blockchain has the ability to be the bridge between moving society from only writing on Web 2.0 to successful ownership of one’s own data in Web 3.0 (because Web 3.0 was built on blockchain).  There are more uses of blockchain like identity and finance but just thinking of it as a book that records all the details of any type of transaction is key.

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