16th November 2022 Digital Bytes

Welcome to this week’s Digital Bytes. This week we have analysis on the following topics:

Could the greenback from Uncle Sam be replaced by a ‘green-backed’ digital currency? - for over 100 years the US$ has been the world’s reserve currency. Whilst its demise has been heralded many times, as with all things at some time it will be replaced. But, by what? Will Brazil, Russia, India, China and South Africa (BRICS) create their own digital unit of exchange or, arguably, could we see the most pressing issue of our time - climate change - usher in a ‘green-backed’ digital currency?

What exactly is Web 3.0? - open protocols developed the internet and undoubtedly its evolution has been remarkable. Web 1.0 paved the way for many of the internet's essential assets and platforms, the second generation of the web, branded Web 2.0, witnessed the growth of centralised systems allowed by closed protocols and the decentralised web, or Web 3.0, is a hot topic. One of the most significant components of…