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ARTICLE







         THE FUTURE OF




         BANKING:



         NAVIGATING THE



         TRANSITION TO



         WEB 3.0













         Overview of Web 3.0                                  subsequent phase, Web 2.0, ushered in a paradigm shift with
                                                              a strong emphasis on interactive collaboration and two-way
         The inception of the World Wide Web (commonly known as
         the 'web') in 1989 marked a revolutionary turning point that  communication, thereby  transforming the web into a
                                                              dynamic and participatory platform.
         has profoundly impacted the global landscape. Over the
         ensuing decades, the  web has  undergone continuous
         evolution, introducing new tools and techniques  that  What constitutes Web 3.0?
         significantly enhance the overall user experience.   Web 3.0 represents the third evolution of internet services,
                                                              seeking to leverage machine learning and distributed ledger
         This evolutionary journey can be delineated into distinct  technology (DLT) to craft more intelligent, interconnected,
         phases: Web 1.0, Web 2.0, and the nascent stages of Web  and open websites. Its overarching goal is to digitize the
         3.0, each characterized by unique offerings and features.  world by creating seamless connections among people,
         Web 1.0 represented the read-only web, predominantly  processes, data, and various entities.
         focused on static information dissemination, providing a
         foundational  structure  for  basic  data  sharing.  The  At the core of Web 3.0 lies the principle of decentralization,
                                                              a fundamental departure from the concentration of power
                                                              in major tech companies, aiming to empower individual
                                                              users. This decentralization is actualized through blockchain
                                                              technology,  with  specifically  designed  portals  and
                                                              applications facilitating access to Web 3.0, commonly
                                                              referred to as decentralized applications (dApps).

                                                              Web 2.0 faced limitations, relying on entities like web
                                                              hosting  services  and operating  in  a more centralized

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