Another example of Web 3.0 in action is a decentralised marketplace, where you could buy and sell goods and services without relying on a central authority like Carousell or HKTV Mall.

Web 2.0 expanded user involvement to creating and adding information. Web 3.0 took it a step further, and now we can own information and digital assets.

Intelligent protocols Smart contracts and protocols are another component of the Web 3 stack that will start incorporating ML capabilities. DeFi seems to be the prototypical example for this trend.

Web3 is the term used to describe the “next level” of the internet - following on from web 1 (HTML, or the “world wide web”) and web 2 (social media, and the user-generated web).