Part 5/9:
The discussion dove deeper into the mechanics of how web 3.0 contrasts with web 2.0, particularly in the realm of transactions. Traditional financial transactions often rely on centralized entities, such as banks, creating points of trust and potential failure. In contrast, blockchain technology allows for peer-to-peer interactions that eliminate these centralized points, enabling trust through cryptography.
As financial paradigms shift, advancements like Ethereum's smart contracts are revolutionizing how agreements are managed and executed. Unlike traditional systems requiring intermediaries, smart contracts facilitate decentralized transactions—transforming numerous sectors from real estate to finance.