What is Web3?

I was in the car with my teenage son this week when he randomly asked me “what is web3.0?” I was eager to answer his question because I enjoy discussing the topic in general and I believe it will be my son’s generation that will be the most avid users of this version of the internet.

To explain web3 I had to explain web1 and web2. Web1 was the first version of the internet that mostly consisted of static web pages (like a PDF document)…