What has Web3 innovation "decentralized, ownable, permissionless" changed?

Web3 has become one of the hottest topics in the technology industry today, but truly understanding its core value is not easy. If we were to summarize Web3 in one sentence, Gavin Wood, the founder of Polkadot, provided the most accurate definition in 2014: “Less trust, more truth.” Over the past decade, Web3 has evolved from theoretical exploration to practical application. In an offline event held in Hangzhou in March 2025, Gavin Wood personally toured with the upgrade project JAM (Join-Accumulate Machine) for Polkadot, announcing that what is being built is not just a new blockchain architecture but a transformative shift in the entire Web3 computing paradigm.

From Theory to Practice: How Web3’s Five Core Features Are Redefining the Internet

Although there is no unified definition of Web3, by observing its actual operation, we can identify five decisive features.

First is decentralization. Unlike the early stages of the internet, where infrastructure was controlled and owned by a single centralized entity, Web3’s network infrastructure is now collectively owned by builders and users, forming a DAO (Decentralized Autonomous Organization) governance model. This signifies a true decentralization of power.

Second is permissionless. In the Web3 ecosystem, everyone has equal participation rights, and no one is artificially excluded. This breaks the traditional internet model where platform providers set access standards.

Third is native payment functionality. Web3 uses cryptocurrencies for online consumption and cross-border remittances, completely bypassing the outdated infrastructure of traditional banks or third-party payment providers, making value transfer more direct and transparent.

Fourth is trustless mechanisms. Web3 does not rely on trusted third parties like banks or real estate agents but operates through smart contracts, cryptography, incentives, and economic mechanisms. Trust is derived from code and mathematics, not institutions.

The fifth and most disruptive feature is ownership. Users are no longer just content consumers but true data owners. This shift has led to the large-scale application of NFTs, turning digital assets from virtual to tangible ownership.

Digital Ownership and NFTs: New Asset Forms in the Web3 Era

Blockchain technology’s introduction of digital ownership represents a qualitative leap in technological progress. In the Web2 era, users’ photos, documents, virtual avatars, and other digital content were essentially owned by platforms, with users only having usage rights. In Web3, ownership boundaries become clear and definite.

NFTs, which have exploded in recent years and are often compared to Bitcoin by industry observers, are seen as a symbol of era innovation. As the world’s digitalization continues to advance, digital ownership can be viewed as the most direct embodiment of the “Internet of Ownership.” These new tools grant users real ownership rights, driving participation through scarcity—similar to limited luxury goods in the physical world. They gradually merge the digital and physical worlds into “phygital,” which is what we often refer to as the metaverse—a scenario of digital and real-world integration.

Token Economy and Community Collaboration: How Web3 Reshapes User Engagement

The biggest difference between Web3 and previous generations of the internet is the transformation of user roles. Through token ownership, Web3 provides consumers with genuine agency—they can not only use services but also participate in governance and share in the benefits.

At the same time, Web3 inherently has a community-centric nature. Many Web3 projects have established strong influence on digital platforms like community forums and Discord. This community-focused model changes the traditional “consumer relationship.” Brands and projects no longer unilaterally promote to consumers but invite users to become co-creators. Participants choose to join, contribute ideas, and create value together, making the connection between brands and audiences deeper and more intimate than ever before.

The Convergence of Web3, AI, and VR: The Technological Landscape of the Next Decade

Many technology experts point out that the integration of Web3, VR/AR, and artificial intelligence will accelerate over the next ten years. Growing up in this technological environment, Generation Z and Alpha will experience changes that may be more dramatic than those of the past century.

Some industry insiders believe we are currently in a transition stage from Web 2.0 to 2.5, and expecting a complete Web3 immediately is unrealistic. However, technological evolution is a gradual process; each iteration of the internet typically takes 10-15 years to mature. With infrastructure improvements, richer applications, and AI-driven innovations, we are likely to see more user-friendly Web3 products in the future. These products will facilitate large-scale adoption and seamless integration with Web3, turning this internet revolution from a concept into everyday reality.