Disclaimer: This text was contributed by COO Zam.io George Gus. The views, thoughts, and opinions expressed in the article are the author's own and do not reflect the opinion of the editorial.
At the same time as interest in Web3 grows, participation in ecosystems of different ecosystems is dramatically increasing. Additionally, if you are unfamiliar with this space, the entry barriers may seem high and difficult to overcome. In addition to this, with the growth of interest in crypto and the development of Web3, these obstacles are gradually disappearing as the industry becomes more user-friendly. Let's take a look at how Web3 technology will change how crypto wallets and crypto investments work.
A Web3 wallet has the main purpose of allowing users to save money on own, and not depend only on other people who store assets. This leaves you in charge of your funds with complete freedom to do whatever you want. I think that the only person in charge of your funds is you, and this concept is quite a revolutionary idea considering that banks are ultimately in control of all money.
The wallets of DeFi users do not need to verify their personal data or provide any background information. Unlike centralized wallets, DeFi users do not need to check the identity and give any background information. The anonymity of the wallets appeals to many people and promises that your identity will never be disclosed.
The same analogy can be drawn with crypto investing. We are used to the fact that the process of investing in projects was a centralized process, when an investor invests and in return receives tokens or a share in a project through an intermediary.
Now, thanks to Web3, crypto investors can invest almost autonomously. The point is that any user can leave a request for the purchase of project tokens and independently claim them through smart contracts. Thus, everything goes to the fact that we ourselves control our personal data and funds, confirm transactions.
In fact, Web3 is a new space in which the storage and exchange of information will be organized more safely, as well as the search for data on terms such as "semantic search", decentralized communication of individuals and companies, regardless of any form of activity or other signs, are implemented in an even more secure way. Web3 applications are capable of erasing the boundaries between online and off-line, in addition to improving the mechanisms of interaction between the Internet and other worlds.