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1. Web 3.0 Applications
Why is it attractive
Concerns
BlockChain
Crypto
NFT
DAOs
Metaverses
->INTRO TO WEB 3.0
->3.0 LANDSCAPE
CONTENTS
Club 3.0 will endeavour to declutter the
noise around web 3.0 and enable IIM
Ahmedabad graduates to have intelligent
conversations around web 3.0 based
business applications such as NFTs,
Decentralized finance, Decentralized
applications, Blockchain Gaming and
others.
About Us
CLUB 3.0
JUNE '22
CLUB 3.0
MONTHLY MAGAZINE
ISSUE -1
CLUB3.0@IIMA.AC.IN
HTTPS://WWW.INSTAGRAM.COM/IIMA_CLUB_3.0/
1
30 JUNE, 2022
HTTPS://WWW.LINKEDIN.COM/IN/IIMA-CLUB-3-418B37242/
CLUB 3.0
Authors
Priyansh Sangule Sai Gaurav

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WEB 3.0
Web 3.0 describes a broad range of emerging
Internet applications being built on
blockchain technology—a decentralized,
public database that allows information to be
securely recorded on a network of computers
rather than verified and controlled by
centralized entities. Central to this evolution of
the Internet are four distinct blockchain-
enabled applications: cryptocurrencies
(fungible tokens), non-fungible tokens (NFTs),
decentralized autonomous organizations
(DAOs), and metaverses. It gained interest in
2021 from cryptocurrency enthusiasts, large
tech companies and venture capital firms.
THE HISTORY OF THE INTERNET –
WEB 1.0 AND WEB 2.0
Web 1.0 is attributed to the older 1991-2004
period where most websites offered content
through static pages. These websites weren’t
interactive and most users simply consumed
content rather than producing it. Personal
web pages were common and hosted
through ISP-run servers or free web hosting
services. Web 2.0 covers the 2000s era to
today where user-created content are put up
on popular hubs of the internet like forums,
social media, blogs and wikis. It is based on
the idea of “the web as a platform”. Web 2.0’s
centralized control and concerns of data
privacy present the need for a new variation of
the internet.
Web3 promises features like decentralization,
data security, scalability, and, privacy for users
and helps combat the influence of large
technology companies.
WHY WEB 3.0?
Facebook, or Google, it’s the users who own
and control pieces of the internet.
Intermediary tech platforms would no longer
be required and no organization could own
the user’s content.
CONCERNS ABOUT WEB3
People have raised concerns about a
decentralized web due to low moderation and
increase in harmful content, centralization of
wealth to a small group of investors or
individuals or a loss of privacy due to more
expansive data collection.
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3. Blockchain is a technology where records containing
data are stored in blocks, linked & maintained across
multiple computers. The terms commonly associated
with blockchain include:
->Distributed ledger system
Since the records are stored in the ledger as a chain of
blocks, spread across a distributed network of nodes
(users or computers).
->Peer-to-Peer (P2P) network
The nodes are interconnected and facilitate the
exchange of data without any centralized authority. The
nodes, also referred peers, act as both client & server.
Each peer now has a copy of the ledger.
->Immutability
Data once stored in the blockchain cannot be
modified/deleted as it is stored on multiple nodes &
required permission of all peers in the network,
facilitating transparency & data integrity
->Decentralization
Absence of any central authority to manage the
network
->Transaction
Term for any form of data exchanges on the blockchain
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BLOCKCHAIN
HOW DOES
BLOCKCHAIN
WORK?
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4. India- one of the biggest markets in Asia, with the second-highest adoption rate in the
world
The user base from tier-I & II cities increased by ~1200% in the last two years
Pandemic saw a surge in cryptocurrency investments by 61% between April 2020 &
May 2021 and a 400% increase in trading volumes between June & December 2021.
Cost-effective transaction processes: absence of any financial intermediaries or
administration, reduces associated transaction fees
Protected from inflation
Easy transfer of funds: Information of the wallet address to whom to transfer money
needs to be known & payment transferred in a matter of seconds
Crypto transactions are recorded on a public list: Tampering of data, if any can be easily
detected
Inclusive financial system
->Mining
The process of creating new coins & verifying existing cryptocurrency transactions. This
involves computers (also referred to as miners) solving complex calculations on validating
& recording new transactions, who are incentivised with coins in return for their
processing power utilised.
->Indian Landscape
->Benefits of Cryptocurrency
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CRYPTOCURRENCY
Cryptocurrency is a virtual currency that is decentralized, not backed by any central
authority or government & uses encryption techniques to verify transactions. It runs over
blockchain to verify & record transactions.
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5. High volatility & low liquidity
Investors’ risk
Threat of cybercrimes
Market threats
Increase in tax burden
No refunds and payment cancellation
policies
No regulatory authority involved to
safeguard investors
->Risks of Cryptocurrency
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CLUB 3.0
A non-fungible token is a unique digital asset such as art, song or any other information,
that can neither be replaced nor interchanged, with ownership secured by blockchain.
Fungible: Property of a good/commodity whose individual parts can be interchanged with
different units of the same commodity. For e.g., pure gold is equivalent for a given quantity
irrespective of its forms as coins, ingots etc.
NFT
About 11 NFT companies are
headquartered in India, close to US &
Singapore, making it attractive to
investors
The country’s marketplace forms
5.02% of total global NFT companies
Powerhouse of artists & creativity pool
available in India to showcase their
digital assets at a large scale, easily
monetise and make it well poised for
a high NFT scope
Value appreciation over time &
independent of any underlying
volatile market-linked assets.
Indian Landscape
Growth drivers

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Market at the very nascent stage:
India’s first DAO to be built by
Bengaluru-based Blockchain firm-
Polygon
A decentralized Autonomous
Organisation (aka DAO) is a community-
led entity, with no central authority, where
decision-making is fully automated and all
financial transactions & rules are
maintained on the blockchain (as smart
contracts). E.g.: Cryptos like Tron, Aave etc.
Indian Landscape
Most early-stage metaverses such as
that of Meta (Facebook) are
centrally owned where companies
act as technology providers, store
users' data & take decisions
Metaverse is a 3D virtual world focused
on social connection. The webpage is
transformed into a 3D space where
users can walk & interact with other
users, play games as avatars and
interact with content virtually.
Web3.0 as the basis for the metaverse
DAO
METAVERSE