Babbage: What is web3?

<p>Web3 is the latest Silicon Valley buzzword, referring to a <a href="https://www.economist.com/business/2022/01/29/will-web3-reinvent-the-internet-business?utm_campaign=a.io&amp;utm_medium=audio.podcast.np&amp;utm_source=babbage&amp;utm_content=discovery.content.anonymous.tr_shownotes_na-na_article&amp;utm_term=sa.listeners" rel="noopener noreferrer" target="_blank">third iteration of the internet</a> built on blockchain technology. Backers say it will <a href="https://www.economist.com/the-world-ahead/2021/11/08/chris-dixon-and-packy-mccormick-on-the-future-of-crypto?utm_campaign=a.io&amp;utm_medium=audio.podcast.np&amp;utm_source=babbage&amp;utm_content=discovery.content.anonymous.tr_shownotes_na-na_article&amp;utm_term=sa.listeners" rel="noopener noreferrer" target="_blank">reinvent cyberspace</a> but scepticism is growing. Host Kenneth Cukier investigates the hype and the potential.</p><p><br></p><p>For full access to The Economist’s print, digital and audio editions subscribe at <a href="http://www.economist.com/podcastoffer?utm_campaign=babbage&amp;utm_medium=podcast&amp;utm_source=third-party-host&amp;utm_content=show-notes" rel="noopener noreferrer" target="_blank">economist.com/podcastoffer</a> and sign up for our weekly science newsletter at <a href="http://www.economist.com/simplyscience?utm_campaign=babbage&amp;utm_medium=podcast&amp;utm_source=third-party-host&amp;utm_content=show-notes" rel="noopener noreferrer" target="_blank">economist.com/simplyscience</a>.</p> &#10;&nbsp;<br /><hr><p style='color: grey; font - size: 0.75em; '>See <a style='color: grey; ' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for privacy and opt-out information.</p>