The critical role of privacy and security in managing your digital assets in Web3

Often called the decentralized or semantic web, Web3 builds upon the internet whilst introducing novel concepts and technologies. Unlike Web1 (characterized by static web pages and limited interactivity) and Web2 (marked by user-generated content and social networking platforms), Web3 prioritises decentralization and peer-to-peer interactions. Blockchain technology is the backbone of Web3, enabling trust less transactions, immutable records and decentralized consensus mechanisms. Web3 is the transition to decentralization, empowering individuals to own and govern their data and digital assets directly, reducing the need for intermediaries. This progression covers various asset types, from cryptocurrencies and decentralized finance (DeFi) tokens to non-fungible tokens (NFTs) representing digital art, collectables and many other digital assets. Web3 platforms operate without the requirement for central authorities or intermediaries, hence fostering greater autonomy and resilience. By di…