The whole world is facing a problem with reaccuring financial crises and there is a need for an alternative payment system. Mass advertising and less and less privacy on the internet have become commonplace. Some companies exploit workers for high profits and workers' rights are often ignored. Web 3. 0 promises possible solutions to these problems. The thesis set out to answer the research questions whether Web 3. 0 is an opportunity for a fairer internet and finance system, whether a decentralised financial system can replace a centralised one, and whether the governance of decentralised companies will be more equitable and transparentby using a comparative method and data analysis of the current web and financial system with a potential Web 3. 0 and decentralised financial system. We have successfully compared the downsides of Web 2. 0 and Web 3. 0 and compared the positive and negative consequences of banking and financial policy.
We have found that a decentralised financial world as promised by Web 3. 0 cannot fully replace the current system, but it can serve as an alternative. Web 3. 0 would dramatically improve internet privacy and data protection and turning companies into decentralised organisations would mean more transparent and impartial governance, giving workers more opportunities for democratic change. Web is now controlled by corporations like Google, Meta and others. The thesis gives the public a broader view and presents possible solutions to the current financial system and the internet, and is also a basis for further research in search for a better financial system and internet as we know it today.
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