With reference to Web 3.0, consider the following statements:

1. Web 3.0 technology enables people to control their own data.
2. In Web 3.0 world, there can blockchain based social networks.
3. Web 3.0 is operated by users collectively rather than a corporation.

Which of the statements given above are correct?

[UPSC Civil Services Exam – 2022 Prelims]

(a) 1 and 2 only

(b) 2 and 3 only

(c) 1 and 3 only

(d) 1, 2 and 3

Answer: (d)

Explanation:

• Web 3.0 is a decentralized version of the World Wide Web that operates on blockchain technology.
• Unlike the previous versions, Web 1.0 and Web 2.0, it will offer ownership stakes in platforms and applications to users, shifting the control away from tech giants.
• It will be a democratic and permissionless internet, where censorship of posts and centralized databases of user information for election influence will not be possible.
• Personal data will be under the control of individuals, and a single personalized account will enable movement across social media, email, and shopping, with all activities creating a public record on the blockchain.
• Data will be interconnected in a decentralized way, unlike the current Web 2.0, where centralized repositories store most data.
• Key features of Web 3.0 include ubiquity, semantic web, artificial intelligence, and 3D graphics. NFTs, or non-fungible tokens, represent a recent example of Web 3.0.