Once you have created your free account in Global YO, created your free Blockchain wallet, minted an NFT, and earned your first YOYO$ (our in-app virtual token), congratulations! You have become a YOnderer, equipped to make the most out of Web3 and the world.
So, what is Web3, in simple terms?
Web3 refers to the 3rd generation of the internet. It is a work-in-progress which is built using decentralized blockchains — the shared ledger systems used by cryptocurrencies like Bitcoin and Ether
So, what is decentralization?
In Web2 (the current generation of the internet we are phasing out of) many applications are centralized, meaning they are owned and controlled by a single entity who then uses your data to further its own interest, which may conflict with yours! WhereasWweb3 applications are built on decentralized networks so that no one party holds too much power, and users’ data is secured by blockchain.
A database that is consensually shared and synchronized across multiple sites, institutions, and geographies, that records transactions and data in a secure, transparent, and immutable way, making it ideal for the creation of smart contracts between people and their businesses.
And smart contracts are?
They are contracts written into lines of code, enabling for automated, trustless (you don’t have to trust your counterparty) transactions to take place, without the need for intermediaries like real estate agents, bankers, and lawyers.
In June 2023, we will launch YO.bazar, a trustless livestream marketplace where every transaction is secured by smart contracts.
So why should I care about Web3?
Web3 offers you greater privacy, security, and control, rebalancing the relationship between people and institutions in favor of people (which is good!)
Smart contracts, enable decentralized finance (DeFi) applications that allow for automated, trustless transactions like loans, mortgages, insurance to take place without agents, banks, or lawyers, even in places where the banking and legal systems are weak.
Note: don’t just think of developing countries – Silicon Valley Bank’s implosion happened in California, the richest state in the richest nation on earth!
Global YO does Web3 better:
We are ONE team, ONE community, united by ONE all-inclusive mission – to connect YOnderers to the best on and offline experiences 24/7/365.
We reward you for the time you spend in Global YO and the contributions you make to Global YO with YOYO$, an in-app Ethereum (blockchain) REWARD token, exchangeable for mobile data, VOIP calling plans, event tickets, NFTs, and coming soon with the launch of YO.bazar, partner products (from handsets, to mascara, to tattoos, to working capital loans for YOnderer-vendors, to micro-loans and life insurance for YOnderer-purchasers.
Web3 makes it possible for us to live and work better everywhere and Global YO does web3 better by providing Web3dom™: reduced-cost access to Web3 and Web3 experiences from almost anywhere in a more equal and sustainable world.