Source: news.google.com
SAN LUIS OBISPO, Calif.–(COMMERCIAL WIRE)–The Web3 Working Group, a 501(c)(3) non-profit organization, launched today with $2 million from donors and partners including Arweave, The Graph, Livepeer and Akash to educate the public and regulators about the functionality and utility of web3 infrastructure, beyond revolutionizing finance.
Co-founded by the creators of the Open Index Protocol, Amy and Devon James, the Web3 Working Group aims to transform the perception of web3 by educating the public, fostering adoption, and informing policymakers about the possibilities of the web3 infrastructure to transform the way that we use the internet. . Currently, most of web3’s focus is solely on the potential of blockchain technology to transform finance: Web3 Working Group aims to solve this key problem in public perception by driving education, adoption and informed regulation of the web3 infrastructure for consumers, developers and everyday users. regulators
“I am delighted to introduce the Web3 Working Group and promote the vision of the web3 infrastructure,” said co-founder Amy James. “The decentralization of the infrastructure of the web will have a huge impact on consumers, businesses and the Internet in general. With great web3 infrastructure partners like Arweave, The Graph, Livepeer and Akash, the Web3 Working Group will drive widespread use of web3 infrastructure.”
Arweave, The Graph, Livepeer and Akash are decentralized protocols that can replace the centralized infrastructure solutions that are relied on today, essentially the “plumbing” of the web. As web3 grows, Internet users and regulators will trust and use the tools built by these protocols for the services they use every day, such as file storage, indexing, transcoding, and cloud computing. These partners have come on board to support the development of educational resources and solve shared technical issues for decentralized protocols, such as node discovery, content moderation, and analytics.
“Web3 Infrastructure stands on the precipice of providing a solution to the widely known problems of big tech. Unfortunately, few people understand the opportunity that lies ahead. That is why I am so excited about the mission of the Web Task Force 3 – to bring knowledge and awareness about this new form of Internet infrastructure,” said Arweave founder Sam Williams.
“Web3 is a completely new platform for truly decentralized applications. Web3 is the core infrastructure for the future of the web. Web3 is all about empowering users, giving them back control, decision making and ownership. Recent events in ‘crypto’ are all failures of Centralized Finance, but decentralization prevailed. The Web3 working group could not have come at a better time to help educate on the differences between CeFi and Web3,” said Tegan Kline, Co-Founder and CBO of Edge & Node, the initial team behind The Graph. “We are very excited to support the Web3 Working Group’s mission to ensure that everyone has the tools and education necessary to participate in the future of the web.”
“We created the Akash Network to ensure that cloud computing, the fabric of our society, remains secure, sovereign and stable through decentralization. The Web3 Working Group has created an educational platform that enhances the user experience of these decentralized protocols,” said Akash founder Greg Osuri.
“At Livepeer, we are building a decentralized infrastructure to power video streaming applications at a highly efficient price point and at near infinite scale,” said Livepeer founder Doug Petkanics. “By partnering with the Web3 Working Group, we will continue to build an open video infrastructure together with a set of like-minded infrastructure projects and enable new potential services that will unlock communications, economic opportunity and entertainment for society in the future.”
With this funding, the Web3 Working Group will continue to inform the public, regulators, and policymakers about how web3 is transforming the infrastructure of the web and distinguishing itself from cryptocurrency. In addition, the nonprofit organization will create developer resources and raise awareness of how the web3 infrastructure offers greater efficiency, transparency, and performance.
About the Web3 Working Group
The Web3 Working Group, a 501(c)(3) non-profit organization, was founded in 2022 with a mission to educate about the web3 infrastructure and how it differs from financial services in the cryptocurrency industry. We educate on how the web3 infrastructure will decentralize the web and permanently restore user control of cyberspace, replacing centralized control with transparent, permissionless protocols through user-aligned incentives. Visit us at www.web3wg.org
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