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Web3 is the next generation of the internet that will introduce opportunities along with economic and national security challenges (Photo from Adobe Stock)

The next generation of the internet – Web3 – is presenting new opportunities but also introducing major social, economic and national security issues. Charles Clancy, senior vice president and general manager of MITRE Labs and chief futurist for the MITRE Corporation, argues the United States needs a national strategy to address these new challenges.

  • Clancy said the government must understand economic issues related to Web3, which is underpinned by cryptocurrency, and must address national security concerns, such as China’s actions regarding the new web iteration.

    Web3 economics are underpinned by cryptocurrency such as Bitcoin (Photo from Adobe Stock)

  • He explained that the first, 1990s version of the web comprised static websites hosted on servers, the second introduced scale and consolidation via search, social media and cloud companies and the third, Web3, prioritizes privacy and decentralization through technologies such as blockchain.
  • As part of the Web3 national strategy, the government should consider building an interagency approach to regulation, said Clancy.

 

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May 2022
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