Can someone explain Web 3

[QuarterMillionMan]

Before someone here cries "what does this have to do with money (lol)," this has everything to do with money. I see Web 3 as the start of decentralized currency. Examples of Web 3 are Ledger, Trezor, and Arculus, all of which I have and control in my own possession. No bank or institution has my data nor can they debank my Ledger, Trezor, and Arculus. The old archaic and slow way of banking is dieing, IMHO.

[disneysteve]

So you actively participate in 3 of these "Web 3" companies but you want someone here to explain to you what it is? Why do you have even $1.00 of your money in something that you don't understand?

I have no idea what Web 3 is and your post is the first time I've ever heard the term so I can't help you. But if you truly don't know exactly how it all works, I'd seriously reconsider having any money tied up there.

[QuarterMillionMan]

Before we can understand Web 3, we need to understand Web 1 & Web 2. As I look back on the history of the internet, Web 1 in general was information gathering let's say 1900's to early 2000's (mainly read only although we had emails in order to read/write). Web 2 was read & write let's say from 2008 to 2015 which included websites such as Youtube & Facebook where users could actively post things but corporations still owned your data. Web 3's birth came around 2013 with the inception of BTC where we can now transact without an intermediary bank and now we can control ourselves. I own it, not the bank. It gives the users control.

[disneysteve]

It sounds like you understand it, so why the post asking someone to explain it?

[QuarterMillionMan]

Tough crowd in here, lol. Trying to get different perspectives on Web 3.

[QuarterMillionMan]

November 22, 2025 marks a major compliance milestone for ISO standards—especially in the financial sector—with the final deadline for full adoption of ISO 20022, a transformative messaging standard for global payments. ISO 20022 Compliance Deadline – November 22, 2025


This date signifies the end of the coexistence period for legacy SWIFT MT messages and the new ISO 20022 MX format. After this deadline:

• SWIFT MT messages will be discontinued for cross-border payments.
• Financial institutions must fully adopt ISO 20022, which uses XML-based MX messages.
• Benefits include:
  • Richer, more structured transaction data
  • Enhanced fraud detection and AML compliance
  • Greater interoperability across payment systems
  • Improved automation and efficiency in processing payments

Why It Matters


ISO 20022 isn’t just a technical upgrade—it’s a global shift in how financial data is exchanged. Institutions that fail to comply risk:

• Disrupted payment flows
• Regulatory penalties
• Competitive disadvantage in global finance

️ Other ISO Updates in 2025


Beyond ISO 20022, several other standards are evolving:

• ISO 9001:2025: Emphasizes risk-based thinking, digital transformation, and ESG integration
• ISO 27001 & 27002: Updates focus on cybersecurity and data governance

[myrdale]

QuarterMillionMan thanks for the post! It is a really interesting topic.

My knowledge of this topic is extremely limited. Honestly I wonder how the dark web compares to Web2 vs Web3. It is decentralized in a way.

I'm not convinced we will see any revolutionary changes in the near future (<20 years) but who knows. On one hand it gives the appearance as greater freedom from government control, but anything can be legislated.

I'll stay on the archaic bandwagon for now, and experiment as time proceeds.

[QuarterMillionMan]

I see myrdale gets it. I'm still stacking on the dips. I'm close to $200,000 in cryptos. HODL explained. Some think it was a mistake for hold. Others think it stands for hold on for dear life. At any rate, I'm HODL'ing.

[ua_guy]

It's been what, 10, 15, years since crypto became mainstream, and you still can't buy basic goods with it, and the onus is on the holder to safeguard it digitally. But you have to trade real money, which does buy goods universally, in order to buy various flavors of crypto. It's perfect homage to the idea that currency only has value if people believe it has value, and not that many people believe crypto has value. People who don't believe it has practical value aren't stupid - the currency has severe risks and limitations being decentralized.

I'm curious, what are the security risks in Web 3.0, and how does the average user who can't secure themselves from security attacks in the current web prepare to be digitally safe in the future? How is using a decentralized currency safer or more secure for the general population versus a regulated bank, with FDIC insurance, and an independent federal reserve which sets monetary policy?


QMM, you are very close to retirement age, yes? How are you planning to retire on crypto?

[QuarterMillionMan]

59 now, maybe 62 or 65 if my body & mind holds out. Not planning on retiring with cryptos. I'll be getting a pension w/big government which I'm depending upon. I can retire today but that pension will be $2600/month. At 62 it'll be about $3500/month. At 65 about $4500/month. At 65 social security would be an additional $1700/month. Cryptos would just be icing on the cake, if it makes gains and not sustain losses.