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 be 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?

QUESTION

Medium

Science & Technology

Prelims 2022

With reference to Web 3-0, consider the following statements :

Web 3-0 technology enables people to control their own data.
In Web 3-0 world, there can be blockchain based social networks.
Web 3-0 is operated by users collectively rather than a corporation.

Which of the statements given above are correct?

Select an option to attempt

Explanation

Statement 1 is correct. A key aspect of Web 3.0 is the concept of decentralization, where users have more control and ownership over their personal data, rather than having it stored and controlled by centralized platforms.

Statement 2 is correct. Blockchain technology is a core component of Web 3.0, and it can enable the creation of decentralized, user-owned social networks and platforms.

Statement 3 is correct. The decentralized nature of Web 3.0 means that it is not controlled by a single corporation or entity, but rather operated and maintained collectively by the users and participants in the network.

Therefore, all three statements regarding Web 3.0 are correct.