Web3 or Web 3.0 is a term used to describe the next generation of internet services. The main difference to Web 2.0 is that it is built on decentralized web technologies such as the blockchain. The idea is to bring back the power to the users instead of big central authorities, who are famous in web 2.0. In web 3.0 no single company or organization owns the internet and the data of its users. In Web3 users can own certain parts of the web and transactions and creations are saved on the blockchain. This is seen as a massive shift of data ownership compared to web 2.0.