Web3 (sometimes referred to as Web 3.0) is the third generation of web technologies. The Web, often referred to as the World Wide Web, is the basic layer of the Internet that supports a variety of website and application services.
In 2014, Polkadot inventor and Ethereum co-founder Gavin Wood used the term “Web3” to refer to a “blockchain-based decentralized online ecosystem”. The concept of the Web3 gained momentum in 2021. It attracted special attention at the end of 2021, mainly due to the investments of Bitcoin proponents and prominent technologists and companies.
Meanwhile, Araujo ruled out the use of Bitcoin as a currency, as the volatility of the asset is a significant disadvantage. In this case, the governor of the central Bank pointed out that CBDC was necessary, since it excludes the volatility scenario and acts as a payment solution. Despite the fact that CBDC uses blockchain technology, it is not a crypto asset in itself.
