Crypto Technology-Impact on Global Economy

Abstract

Arunkumar Pillai

The last decade has been marked by the evolution of cryptocurrencies, which have captured the interest of the public through the offered opportunities and the feeling of freedom, resulting from decentralization and lack of authority to oversee how cryptocurrency transactions are conducted. The innovation in crypto space is often compared to the impact internet had on human life. There is a new term called Web 3.0 for denoting all new computing innovations arising due to the blockchain technologies. Blockchain has emerged as one of the most important inventions of the last decade with crypto currencies or financial use case as one of the domains which progressed most in the last 10 years. It is very important to research about Web 3 technologies, how it is connected to crypto economy and what to expect in this field for the next several decades.

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