What Is Web3 Payments
Web3 payment refers to the use of blockchain technology and decentralized networks to facilitate financial transactions. Unlike traditional payment systems that rely on centralized authorities like banks and The Web3 Foundation, another of Wood's creations, defines Web3 as “a decentralized and fair internet where users control their own data, identity and destiny.”
Web3 has native payments: it uses cryptocurrency for spending and sending money online instead of relying on the outdated infrastructure of Web3 is the next phase of the internet, characterized by decentralization and user empowerment. At its core, Web3 should be thought of as an ideological shift in the way the internet works more than a technical
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