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DFIN Glossary
FinTech,Web 3.0, DeFi
and
The Metaverse

 FinTech - DeFi - Web 3.0 Metaverse

This DFIN Glossary is to be used for informational purposes only and intended to assist the public in understanding some of the specialized words and phrases in FinTech. This Glossary is not all inclusive,. DFIN Assumes no responsibility for errors and omissions.
Web 1.0 :  This DFIN web site is built in a Web 1.0 style. Content for reading.
Web 2.0 :  Web 3.0 elements have been around since the turn of the Century but are gaining steam at this time. This is not a new web only new technology. The end game is to remove intermediaries .  https://nkn.org/community/blog/web-3-0-examples/

Web 1.0 and 2.0 Is Centralized
Web 1.0 Web 2.0 and Web 3.0


Web 3.0 is Decentralized
Advantages of Web 3.0
Efficiency in Search Results Better Access to Information
End user has complete control of data through
encryption		Intermediaries like Apple, Google and governments no longer control data services or sites
Digital Assets can be moved quickly Sharing information will be easier
No interruption of service since all data is stored in all nodes Harder to adopt a fake identity online
Easier to work on the Internet because it can be personalized Multiple backups will eliminates disruption of dataflow
  
Disadvantages of Web 3.0
Only advanced devises can handle 3.0. This will lockout many people Complicated for newcomers to grasp the concept
Privacy policies and controls are more important than ever It will be easier to find people personal and private information. Less anonymous than 1.0 and 2.0
Web 1.0 will seem obsolete and less appealing to users People will spend too much time on the Internet
Web 3.0 is upon us: As a natural progression from Web 2.0, Web 3.0 is a cycle that has taken all the gains madeby its predecessor with regard to interacting with the internet and scaled them up resulting in a more connected, intelligent and open web. Web 3.0 is set to bring a transformation where the user moves from the siloed approach to a seamless one.  https://nkn.org/community/blog/web-3-0-examples/ 

Semantic Web :  A key element of Web 3.0 From the WW3 Consortium = W3C is helping to bild a technology stack to support a “Web of data,” the sort of data you find in databases. The ultimate goal of the Web of data is to enable computers to do more useful work and to develop systems that can support trusted interactions over the network. The term “Semantic Web” refers to W3C’s vision of the Web of linked data. Semantic Web technologies enable people to create data stores on the Web, build vocabularies, and write rules for handling data. Linked data are empowered by technologies such as RDF, SPARQL, OWL, and SKOS. 

   https://www.w3.org/standards/semanticweb/


Why You Need to Care About Decentralized Finance (DeFi) - also known as Web 3.0 :  In July 2021 Forbes address the power of decentralized Global financial services, powered by smart contracts and no personal intervention.   
https://www.forbes.com/sites/patriciakemp/2021/07/06/why-you-need-to-care-about-decentralized-finance-defi/


DeFi = Decentralized Finance :  A movement toward open finance including banking.   All products available today will be available through non-regulated parties in some cases with a goal of removing some if not all intermediaries.
https://blog.coinbase.com/a-beginners-guide-to-decentralized-finance-defi-574c68ff43c4
Domino Effect on NFT DeFi and Web 3.0 Adoption: DeFi and Web 3.0 would not be possible without the current Internet Technology. 
https://cointelegraph.com/news/striking-a-chord-defi-s-domino-effect-on-nfts-and-web-3-0-adoption


Digitlord : A Digitlord functions like a Landlord but for Digital Real Estate.    https://www.sec.gov/Archives/edgar/data/1299709/000119312507071839/dex101.htm




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