Session 3-7

Web 3.0: The good, the bad, and the ugly.

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New distributed technologies, loosely described as Web 3.0 and employing technologies such as federated AI, blockchain, IoT, etc., have the potential to give back control of data, AI, and its benefits to individuals and communities.  The first versions of Web 3.0 have had severe drawbacks such as wasting energy, enabling crime, and exhibiting huge volatility. However, these same technologies have the potential to transform the internet from a loosely structured communications medium to a reliable but distributed transaction medium. In addition to the many private efforts now being launched, some national governments are aggressively pursuing this new suite of technologies, but with much stronger government oversight. There is an urgent need to develop standards that guarantee a Web 3.0 economy that remains truly distributed and yet provides adequate protection for individuals and communities

Speaker

SANDY PENTLAND

MIT Toshiba Professor & Media Lab Entrepreneurship Program Director