Web3 refers to the next generation of the internet that aims to create a decentralized online environment. Unlike the current web, which is dominated by large corporations, Web3 utilizes technologies like blockchain to give users more control over their data and online interactions. This shift promotes transparency and security, allowing individuals to own their digital assets. In Web3, applications are built on decentralized networks, enabling peer-to-peer interactions without intermediaries. This can lead to new economic models, such as cryptocurrencies and smart contracts, which automate transactions and agreements. Overall, Web3 seeks to empower users and foster a more equitable digital landscape.