WEB3

A THOUGHT PIECE ON

CONSIDERATIONS AND SCENARIOS

Prepared by:
EMERGING TECHNOLOGIES TEAM
UN OICT

Version 1.0.1
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third party without the express permission of the United Nations.
 Contents

Publication date: April 2023

Introduction 4

Primer: What is Web3? 5

Prepared by:
EMERGING TECHNOLOGIES TEAM
UN OICT Core Concepts  6

KEVIN BRADLEY Building Blocks of Web3 6

Head of Emerging Technologies
Web3 Applications and Infrastructure 6
MARIA ANTONIA BRAVO
Senior Emerging Technology Advisor, Strategic Foresight Lead Value Proposition  9

YANNIS KEMEL Use Cases 10

Senior Emerging Technology Advisor, Governance Lead

State of the Technology 13

External Reviewers: Maturity Assessment 13

ANNE CONNELLY Drivers14

Faculty, Boston University
Inhibitors15
JESÚS CEPEDA (CHUY), PhD
Co-founder at OS City, Fellow at Ethereum Foundation,
Youth Global Leader at World Economic Forum Possible Futures and Key Considerations 17

Scenarios: UN Involvement in the Web3 Ecosystem 21

Critical Questions 24

About Emerging Technologies Team 25

About ET Team’s Strategic Foresight Service 25

Glossary of Key Terms 26

Bibliography 27
 Introduction

Introduction
The emergence of Web1, also known as the read-only era, was marked by the development of
HTML and URLs, which enabled users to navigate between static pages. During this era, the web
was populated by flat web pages and governed by open technical rules put together by standards
bodies.

In the late 1990s and early 2000s, the emergence of dedicated servers that stored data that could
be manipulated marked the beginning of the Web2 era. This era enabled users to coordinate
and manipulate data through read/write capabilities, meaning that data could be added but
made it challenging to delete existing data. The

“This paper provides an increase in online products and services meant

that more individual users were contributing to the
Web3 aims to
overview of Web3 as a growing databases of information, necessitating decentralize power
the development of identity access management
technology, assessing its systems (IAMs) to organize and secure access to this
structures and
promise and constraints, data. The growth of IAMs led to the emergence of empower users to
tech giants such as Alphabet and Meta, which built
discussing the possible role huge, centralized databases of user information to
own their data and
capitalize on the new digital economy. digital assets
the UN can play with
Web3, described as the next iteration of the internet,
its wider adoption. a read/write/own era that aims to decentralize power structures and empower users to own their

The piece is intended for data and digital assets as well as participate in peer-to-peer cooperation, giving communities the
ability to govern themselves. This emerging period is marked by the development of blockchain-
general consumption based decentralized technologies that disintermediate and remove the centralized players that
dominated in Web2. These technologies allow traditional revenue streams to accrue to users,
for an audience with a further enhancing their value proposition compared to Web2 equivalents.

UN focus.” While there is no denying the potential of Web3 technologies, it is important to recognize the risks
and challenges that come with them. As noted by Banerjee et al. (2022), many users may not fully
understand the risks associated with decentralized technologies and may expect the same level of
protection and regulation as they receive from centralized entities.

Given these high stakes, the potential impact of Web3 is enormous, potentially ushering in a new
era of decentralization that benefits all users, rather than just a select few. The United Nations
Emerging Technologies Team recognizes the importance of Web3 and its potential to decentralize
power structures. This thought piece on Web3 covers the core drivers underpinning excitement
surrounding this technology, while proposing a set of considerations for the UN to reflect on. As
an emerging technology, Web3’s promise and potential impact must be understood to shape the
future of the internet in the next five to ten years.

Note: This work, particularly its first four sections, was externally reviewed by Web3 experts for
accuracy and quality assurance purposes. The possible futures and UN scenarios reflect the view
of OICT Emerging Technologies.

Thought Piece on Web3

Considerations and Scenarios 4
Primer: What is Web3? Primer: What is Web3?

Core Concepts
Primer:
What is Web3? Building Blocks of Web3

Blockchain Smart Contracts Digital Assets

A distributed database Code or programmes Type of intangible asset

Web3 is a term coined to describe a group of technologies which support the development of a that records transactions stored on a blockchain that holds value and
on multiple servers, that self-execute can be owned. Digital
decentralized web, including Blockchain, Tokens, Smart Contracts and Decentralized Autonomous
rather than on a central when predetermined currencies are examples
Organizations (DAO). It is a complex, evolving space spanning various disciplines and technologies,
server. Each transaction conditions are met. of digital assets.
promising to bring about seismic changes to the web. This emerging ecosystem is known as is recorded and verified They hold the terms of
the ‘read, write, own’ internet, which supersedes our current Web 2.0 and the more static first- by multiple parties in the agreement between
generation internet. network. parties.

Web 1.0 Web 2.0 Web 3.0

Web3 Applications and Infrastructure
Read Read/Write Read/Write/Own

• Static • Dynamic • Experiential

Decentralized Applications Decentralized autonomous
• Consumers able to read • Consumers able to • Consumers communally (dapps) organizations (DAOs)
webpages create and post on run and own whole
• Data stored in academic webpages entities, data and
Applications or programmes that exist A form of collective and distributed
and governmental • Data stored in private protocols
and run on a blockchain or on open governance that leverage tokens
servers company servers • Data stored on apublic
networks that enable financial, social and a collective transparent treasury
• “Information economy” • “Platform economy” blockchain
and other activities without a centralized management to make decisions.
• “Token economy” company managing them.

Evolution of the Internet Web3 is a set of software and technologies that enable the development of decentralized web
applications. It is a group of decentralized technologies that are interoperable, upon which
applications can be built (Azhar, 2021). The core infrastructure of Web3 is blockchain, which is a
distributed database that records transactions on multiple servers, rather than on a central server.
Rather than relying on large technology companies to provide free communication and exchange Blockchains allow for unalterable records of transactions on multiple computers, making it difficult
platforms at the expense of profiting from user data – as is common under current business models for an actor to exercise control or cause the system to fail.
– the objective with a decentralized web is to shift power back to users through cryptography,
open standards and open protocols. To achieve this, Web3 leverages blockchain’s distributed data Blockchains are the backbone of Web3, providing a secure and transparent platform for
structure and associated infrastructures and applications, such as smart contracts, digital assets transactions and interactions. It enables a trustless environment, where parties can transact with
and decentralized autonomous organizations (DAOs) to create a “decentralized, peer-to-peer, self- each other without relying on intermediaries such as banks, payment processors, or social media
sovereign” web. platforms.

Decentralization is a core concept of Web3. It refers to the distribution of power and control
among the nodes of the network, rather than a single entity or authority. Decentralization is a proxy
for fairness, transparency, accessibility, and self-governance (Narula, 2022). It ensures that no single
party has too much control over the network and prevents the abuse of power or collusion.

Thought Piece on Web3

Considerations and Scenarios 5 Thought Piece on Web3
Considerations and Scenarios 6
Primer: What is Web3? Primer: What is Web3?

manipulation, promoting transparency and accountability in the content moderation process.

Smart contracts could be utilized to establish acceptable content rules and criteria, and community
No central members could partake in moderation through token staking or voting. Additionally, smart
control of data contracts would be crucial in creating a token economy, allowing users to earn tokens for creating
quality content or interacting with others on the platform.

Decentralized autonomous organizations (DAOs) are a form of decentralized governance

that enable groups of individuals to work together towards shared objectives without relying on
hierarchical leadership. Transparency is ensured through blockchain recording of all voting, while
the collective treasury is stored in wallets where cryptocurrency is visible to all members. Essentially,
a DAO is a digital entity that can engage in business interactions with other DAOs, digital and human
agents, and corporations. DAOs rely on software consensus mechanisms and smart contracts
Decentralization
for governance, enabling them to define and program the rules of commercial engagements in
decentralized contexts (Litan et al., 2022). For example, a DAO can integrate with a smart contract
No central to automate the outcome of a governance process – say, after a majority of votes have been cast
Distributed authority for an option, a DAO can automatically trigger the actions codified in a smart contract after the
storage of data governing threshold of votes is reached. In practice, however, it should be noted that achieving consensus in a
across nodes decision- DAO is mostly a human-driven process.
making
Decentralized Identifiers (DIDs) are an improvement over email-based identifiers used in Web2.
They provide a universal addressing system that is permanent, persistent, and non-reassignable,
Figure 1: Decentralization in Web3
which represents a significant upgrade to online identity. Users can obtain and own their unique
DIDs without the need for a central registration authority, and they can associate them with various
Web3 enables individuals to own and control their own data and assets, instead of relying on records, such as medical or academic records. DIDs can be used for legal, financial, or democratic
centralized entities to manage them. This means that users can control who has access to their purposes. It is also possible for a user to own multiple DIDs, which can be managed through a
data and how it is used, providing greater privacy and security. digital wallet.

Web3 aims to disintermediate, leading to increased efficiency, and reducing the need for trust in Digital assets are a type of intangible asset that holds value and can be owned (Banerjee et al.,
third parties. This is achieved through blockchain technology and smart contracts, which automate 2022). They can represent a variety of items, such as digital currencies or tokenized real-world assets.
the execution of agreements and eliminate the need for intermediaries. Cryptocurrencies like Bitcoin are a prime example of a digital asset that has gained widespread
adoption and acceptance as a means of value transfer. This technology enables near-instant cross-
Smart contracts are self-executing programs that run on the blockchain, automating the border payments and eliminates the need for intermediaries, leading to faster, cheaper, and more
execution of agreements between parties. Think of an ‘if-then’ statement: if wallet holder X is verified efficient transactions. Digital assets have become increasingly important as they provide a new way
as identity X, then transfer 10 tokens to X’s digital wallet. They are tamper-proof and transparent, to manage and transfer value securely and efficiently, with the potential to transform the way we
ensuring that all parties can verify the terms of the agreement and its execution (Banerjee et al., conduct transactions and exchange value.
2022). Smart contracts are a critical component of Web3, enabling the creation of decentralized
applications that run on a trustless platform. Non-fungible tokens (NFTs) are unique digital assets that are recorded on the blockchain. They
represent proof-of-ownership of digital or physical assets that are tokenized (Banerjee et al., 2022).
Decentralized applications or dApps, are a type of software application that operate on a NFTs are a key innovation of Web3, enabling the creation and ownership of unique digital assets,
decentralized blockchain network. Unlike traditional applications that rely on a central server, such as digital art, collectibles, and virtual real estate. However, it’s worth noting that NFTs also have
dApps connect to a peer-to-peer network and use smart contracts to manage their application the potential to represent physical assets and other assets like identity and credentials.
logic. This removes the need for intermediaries or central authorities, giving users greater control
and ownership over their data and digital assets. DApps have the potential to build sophisticated, Digital wallets are essentially ledger accounts on the blockchain that serve as a user’s Web3
multiparty applications that depend on smart contracts within distributed ledgers. This provides a identity, holding both their currency and data in a secure and decentralized manner (Ginsburg,
layer of computation that is intricately linked to blockchain smart contracts, facilitating trustworthy 2022). They act as “unified bank accounts and digital passports that have the potential to change
and transparent interactions between various parties (Litan et al., 2022). For instance, a dApp how users connect with applications by offering universal sign-in capabilities.” (Olsen et al., 2022).
version of Twitter could provide users with private keys, granting them complete control over their Digital wallets can hold and transport digital goods across platforms, share verifiable credentials,
data and digital identity. Its decentralized nature would minimize the likelihood of censorship and granting access to various services and applications.

Thought Piece on Web3

Considerations and Scenarios 7 Thought Piece on Web3
Considerations and Scenarios 8
Primer: What is Web3? Primer: What is Web3?

Value Proposition

Proponents of the decentralized web maintain that this stack of technologies will reconfigure how suited to the needs of individuals and communities. It also introduces disintermediation and new
individuals participate in digital – and even, in physical – spheres, bringing about systemic change ways to interact and transact, promoting increased user choice, as assets would be portable across
and enabling new business and social models. From shattering monopolies and a meaningful borders, platforms, and dApps. Interoperability in the Web3 ecosystem will play a critical role in the
course correction to a giant speculative economy that is self-referential in the extreme, discussions emergence of new firms, applications, and modes of thinking (Park et al., 2022).
regarding Web3’s value proposition are full of debate and uncertainties. Below, we explore contrasting
views on these technologies’ promise, highlighting many interwoven features at the core of its value Web3 technologies, such as decentralized finance (DeFi) and non-fungible tokens (NFTs), provide
proposition, including decentralization, ownership and, control and disintermediation. the building blocks for the Metaverse, enabling users to buy, sell, and trade digital assets in a
decentralized manner. As the Metaverse grows, Web3 technologies will continue to play a central
Web3 presents a compelling value proposition that aims to address some of the shortcomings of Web2, role in enabling self-sovereignty, ownership, and control for users in a virtual environment. However,
essentially at the intersection of privacy, trust and distribution of value. Central to Web3’s technical Web3’s public nature raises privacy and education concerns, which could prevent mainstream
and sociopolitical ethos is decentralization, which promotes the transfer of authority, control, and adoption. Granting users total control over their data may also create consumer protection
responsibility to more nodes in the system. Decentralization reduces the possibility of single points
vulnerabilities, especially for those less digitally-literate. The open-source and interoperable nature
of failure and enables a more equitable distribution of power and control, potentially reducing the
of the technology could mean that more individuals can contribute to redefining the web.
influence of centralized authorities and intermediaries and increasing opportunities for participation.
Web3 could introduce tamper-proof and transparent systems that lead to greater accuracy and
accountability across financial and governance systems. For the UN, this could imply adopting Web3
infrastructure to further its agenda and work. Web3 could bring about a less “zero-sum” game, where Use Cases
more actors across the network benefit economically, potentially boosting development objectives.
One of the most significant use cases of Web3 is in finance. Decentralized finance (DeFi) is a
In addition, Web3 enables users to control their own identity and data, including distributed recreation of the tools available in the traditional financial world, built on Web3 infrastructure.
governance, through a decentralized ownership facilitated by blockchain, which provides verifiable DeFi eliminates intermediaries and supports trustless, transparent, and immutable financial
and traceable means to ensure the authenticity of items and assets. In Web3, ownership and power transactions between pseudo-anonymous parties. It refers to smart contract apps running on a
will be shifted away from Big Tech to individuals. Users will own and control their content, data, and public blockchain that offer financial products and services such as peer-to-peer lending, insurance,
digital assets, empowering them with self-sovereignty. and exchanges. Indeed, the financial-services industry has led the way in adopting Web3’s nascent
digital technologies and assets, including through lending and borrowing services, such as
Web3 systems enable peer-to-peer transactions without the need for centralized platforms, reducing
remittances and investments. Zero-knowledge proofs (ZKPs) are also gaining popularity in various
the need to trust or rely on the approval of third parties, such as banks. This would effectively eliminate
applications, particularly in the realm of authentication and transaction verification. Additional use
traditional actors across some services, potentially leading to new actors performing services, as
cases for Web3 technology in finance include payment systems, custody management, anti-money
well as increased access for users at the margin of traditional infrastructures. However, removing
laundering (AML) and know-your-customer (KYC) compliance, consumer identity and access
institutions from the key service provision – like regulatory compliance, risk management, and
management (IAM), age verification, and more (Litan et al., 2022).
customer protection – could introduce a suite of vulnerabilities to end-users. This disintermediation
may lead to reduced security and oversight, thus negatively impacting customers and potentially
Web3 technology also enables greater transparency and auditability in various sectors, such as
introducing instability to the global economy and monetary sovereignty. With a shift in power away
supply chain, intellectual property, land registries, and climate markets and offsetting incentives. The
from traditional institutions, regulators, and even governments, it becomes urgent to ensure the
technology enables the tracking and monitoring of products throughout their lifecycle, preventing
protection of the rule of law and equal protection of the law across the internet. Web3 generates
fraud, and improving supply chain efficiencies. It also creates a transparent and immutable record
uncertainties over some of the adjudicating roles of the UN, including those of its international
of ownership and usage rights, ensuring the authenticity of intellectual property. Digitizing land
institutions and bodies.
registries on a blockchain makes them more secure and accessible while reducing the risk of fraud.
Web3 introduces a new form of collective governance, with implications for digital sovereignty, For instance, despite the downturn in the cryptocurrency market, Chainalysis has revealed that the
which is self-determining control in digital spaces. This new form of governance has the potential U.S. dollar amount of illegal transactions conducted on the blockchain has substantially increased
to disrupt the current version of the internet, which has been plagued by issues such as data in recent years. In 2022, the volume of these transactions reached an unprecedented $20.6 billion,
breaches, online harassment, and the spread of misinformation. By building decentralized networks a staggering increase compared to the $18 billion recorded in 2021 and the approximately $5 billion
that prioritize security and privacy, Web3 could offer a more open and secure internet that is better observed in both 2017 and 2018.

Thought Piece on Web3

Considerations and Scenarios 9 Thought Piece on Web3
Considerations and Scenarios 10
Primer: What is Web3? Primer: What is Web3?

Prospective Use-Cases for the UN

Decentralized digital identity is another significant use case of Web3 technology. Decentralized
identity (DID) systems remove the need for repeated identity proofing across services by supporting
common authentication services and removing the need for multiple credentials. DID solutions rely Potential Use Case Description Sector UN SDG
on a blockchain as the source of truth, enabling users to receive credentials proving their identity
DAOs (Decentralized
from multiple issuers (including, for example, employers or governments) and store them within
Autonomous
a digital wallet. These credentials can then be presented to service providers who can verify the
Organizations)
data via the distributed ledger. With the credentials being on the user ledger, interfaces (or service to create a
Collective
providers) can read the ledger and perform identity verification without the asset leaving the user’s decentralized
organization DAO SDG 16: Peace,
custody within their wallets. These systems are designed to remove the need for repeated identity network that allows
interexchange Governance Justice, and Strong
proofing. Users require an identity wallet to generate and store their decentralized identifiers, for more efficient
between offices/ Institutions
and transparent
associated cryptographic keys, and other cryptographic materials, including certified credentials agencies
communication and
by issuers that can be presented to service providers for verification (Litan et al., 2023).
decision-making
between UN offices
and agencies.

Current UN Use-Cases Blockchain to create

a transparent and
secure procurement
UN Office Project Sector UN SDG and supply chain
system for UN offices
SDG 16: Peace,
Procurement and and agencies. This Procurement,
World Food Program Food security, supply Justice, and Strong
Building Blocks SDG 2: Zero Hunger supply chain can help prevent Supply Chain
(WFP) chain Institutions
fraud and corruption
and ensure that
United Nations resources are
Humanitarian aid, SDG 1: No Poverty,
Children's Fund CryptoFund distributed fairly and
donations SDG 2: Zero Hunger
(UNICEF) efficiently.

United Nations Web3 technologies

Development SDG 8: Decent to create a
Program (UNDP) Digital Fortress Financial inclusion Work and Economic decentralized
Accelerator Lab Growth and tamper-proof
(India) system for education
Education SDG 4: Quality
certification, which Education
certification Education
Countering terrorism can help combat
United Nations financing, illicit SDG 16: Peace, fraud and ensure
GoPortofolio
Office on Drugs and drugs control Justice and Strong the authenticity
(GoBlockchain)
Crime (UNODC) and transnational Institutions of educational
organized crime qualifications.

Digital Decentralized digital

United Nations UN Crypto Stamp -
Transformation passport system that
is secure, tamper-
proof, and privacy-
preserving. This can
SDG 16: Peace,
help facilitate travel
Digital Passport Travel, Immigration Justice, and Strong
and immigration
Institutions
processes while
also protecting the
privacy and security
of individuals'
personal information.

Thought Piece on Web3

Considerations and Scenarios 11 Thought Piece on Web3
Considerations and Scenarios 12
State of the Technology State of the Technology

State of the Technology Building applications on the blockchain through dApps is the primary method for achieving Web3’s
maturity at scale. DApps provide the ability to build complex, multiparty applications that rely on
underlying smart contracts. They offer the potential to bring a layer of computation that ties to
blockchain smart contracts, but much more technology maturity is required for that to occur. For
instance, scaling Web3 requires blockchains to communicate with each other so that they can
support collaboration and the transfer of digital assets, monetary value, and data, among other
areas.

Maturity Assessment † Hypothetical – the

technology is conceptually • Digitally-native spaces for digitally-
native generations (including the
possible Metaverse)
Based on the technology’s current trajectory,
† Experimental – research and Pull of the Future • Devolution of power and agency to
Web3 will require significant advancements in individuals
both technology and adoption to reach maturity.
experiments are proving the • Community-run ecosystems defined
This includes the development of interoperable
technology and governed by many
• Trustless and automatic consensus-
blockchains, the creation of user-friendly and ; Working Prototypes – based transactions
secure dApps, and the establishment of clear working examples are being • Appeal of efficiency gains from
the disintermediation of inefficient
regulations and standards to promote trust and
built actors Web3 enables • Centralized as the de-facto
adoption, as well as the reduction in administrative
• Uptake of blockchain technologies new business and business model
and regulatory barriers, particularly from banks ; Diffusion – the technology is across key industries (i.e. financial social models by • Outsized gravity of BigTech
and governments. It will be important for being adopted systems) leveraging decentralized
infrastructures and
• Interoperability
stakeholders across industries to collaborate and • Emergent use cases, including architectures, but it • Unwillingness from traditional
decentralized identity offering
invest in its development to ensure its potential † Commercialization – the valuable upgrades compared to
is not likely to fulfill institutions to give up governance,
oversight and control
the promise of a
is fully realized. Additionally, broader education technology is part of traditional approaches decentralized • Fragmented, unclear and
and awareness efforts are needed to increase mainstream solutions • Communities of shared believers Web incomplete regulatory frameworks

understanding and drive demand for Web3

and first-adopters • Digital sovereignty as a gray-zone
solutions. As of March 2023, the maturity level of this technology was determined by ETT as midway
Push of the Present Weight of the Past
between Working Prototypes and Diffusion.
Figure 2: Web3 Futures Triangle
Web3 technologies have been developing rapidly, but the market size may not necessarily indicate
mainstream adoption. While there have been some failures in the business models of Web3 Drivers
adjacent technologies, such as cryptocurrencies, Web3 itself continues to progress. However, the
adoption of Web3 by enterprises is moving slower than consumer adoption (Litan et al., 2022).
Despite this, there is still a lack of scholarly discourse about Web3 and its potential benefits and The advent of Web3 is being driven by a range of drivers, including the uptake of blockchain,
repercussions. The discourse is primarily led by those already involved in the crypto sector, with particularly in the DeFi and gaming use cases. Venture capital (VC) investments have been
some critical commentary from consultancies and technology magazines. instrumental in funding many of these projects. According to The Economist, the value of VC deals
in the crypto sphere reached $25 billion in 2021, up from less than $5 billion in 2020, indicating
High risks are associated with Web3, and there is no clear path to mainstream adoption. The path a significant uptick in investor confidence in the sector. Furthermore, VC investments in Web3
to mainstream adoption of the various puzzle pieces of Web3 is different, with some being more exceeded $18 billion in the first half of 2022, on track to exceed the full-year total VC investments of
advanced than others. Several developments could have a significant impact on the outlook for $32.4 billion in 2021 (Banerjee et al., 2022). These investments have helped to fuel the development
Web3, including whether traditional centralized institutions can meet the rising demand for Web3 of Web3 platforms and protocols, particularly in the Metaverse.
use-cases with non-blockchain-based solutions. Another factor is whether a use-case or area, such
as DeFi, becomes mainstream and drives widespread adoption of the other parts of the ecosystem. In addition to VC investments, emergent use cases are driving the development of Web3,
particularly in the area of decentralized identity as traditional identity and access management
Regulation could also inhibit the development of Web3 technology in response to the lack of frameworks have struggled to meet the security and privacy needs of users (Litan et al., 2023).
customer protection or disintermediation of strategic actions. This is especially true if more actors Web3 promises to liberate identity and reputation from the control of a few large tech companies,
are allowed to define their own guard rails, keeping banks and governments out of the loop. There allowing for “self-sovereign” identities for communication, transaction, and governance (Siddarth
is also a risk that Web3 proponents and pioneers could derail the ethos of Web3 and replicate the et al.). Decentralized identity offers valuable upgrades in security, privacy, and interoperability
same governance and power arrangements, leading to re-centralization in disguise. compared to traditional approaches, making it a promising area for further development.

Thought Piece on Web3

Considerations and Scenarios 13 Thought Piece on Web3
Considerations and Scenarios 14
State of the Technology State of the Technology

The hype surrounding the Metaverse is another driver of Web3. Decentralized social networks Importantly, decentralized technologies are also complex and out of reach for basic internet users.
and “gaming nations” are emerging as key use cases in this space, which promises to create a Described as “devilishly difficult to use” by some, participating in DAOs or understanding the
more immersive and interactive internet experience. As more people become interested in the terms of a smart contract requires a relatively sophisticated understanding of these technologies
potential of the Metaverse, we can expect to see a further acceleration in the development of Web3 (Hosanagar and Brouard, 2022). Calls to design a friendly user-experience abound across the
technologies and protocols. sector as interfaces are often too cumbersome. Particularly, the complexity of using and interacting
with decentralized systems is a barrier to entry for many. Yet, one of the most challenging obstacles
Finally, communities of shared believers and first adopters are promoting this iteration of the to user uptake is that decentralized technologies rely on self-custody – the premise that users can
internet. Web3 has captured the imaginations of a growing number of individuals who see it as a handle their assets effectively and without restrictions. Decentralization in this sense also means
way to decentralize power and create a more equitable and democratic internet. These communities that users are fully responsible for ensuring that their data and currency is safe (Ginsburg, 2022).
are working to build and promote Web3 platforms and protocols, creating a groundswell of support A transaction error is impossible to recall, with little support (i.e., losing a private key) available. For
for the emerging technology. Open Wallet Foundation is an example of a consortium promoting instance, losing access to the private key linked to a blockchain wallet can lead to a permanent loss
the adoption of open, secure, and interoperable digital wallet solutions.
of access to the wallet’s assets, with no support or recourse available for recovery. It is unlikely that
Web3 ecosystems provide the same level of consumer protection as Web2 systems do. However, it is
worth noting that Web3 technology can offer a different form of support to users, particularly those
Inhibitors in regions with non-functional financial systems.

However, there are socio-political challenges, including the absence of widespread collaboration and
cross-platform cooperation. To an extent, the true complexity in the mass adoption of centralized
technologies is not in the technical stack per se – but rather up the stack – in getting multiple
• Blockchain technology is not currently scalable enough for mass institutions to collaborate in new paradigms, specifically when these institutions do not trust each
adoption. other. Notably, when it comes to the vision of a decentralized web, it is unlikely that those at the
Scalability,
interoperability • Processing transactions is often inefficient and slow. helm of Web2 will cede, or alternatively, be pressed into giving up control of the web to Web3
and UX/UI • Self-custody poses a challenge to user uptake and consumer market entrants. A decentralized web promises to upend ownership of the asset which underwrites
protection. these actor’s business models: data. Under open platforms where users own their data and elect
• Institutions may be reluctant to give up control of the web and how to monetize it, these actors lose their stronghold and their downstream value proposition.
ownership of data. Because the “flagship principles” of a decentralized web – notably, self-determination, portability,
Absence of
widespread • Legacy players in BigTech stand to benefit more from the status and disintermediation – are antithetical to the structures that sustain BigTech, as long as legacy
collaboration quo than from Web3, making it unlikely that a decentralized players recognize that they stand to benefit more from the status quo than from Web3, it is unlikely
and cross- web will take root at scale. that a decentralized web will take root at scale (Jin and Parrott, 2022). Even more, BigTech has the
platform • BigTech’s resources and user base give them the ability to resources and user base to maintain their dominance and to discourage decentralized paradigms
cooperation maintain their dominance and discourage decentralized that disrupt their business models.
paradigms.
In tandem, there are significant regulatory questions and inconsistent jurisdictional clarity when
Fragmented • Regulatory questions and inconsistent jurisdictional clarity pose
it comes to Web3 related technologies. For instance, the legal status of cryptocurrencies varies
legal and challenges for Web3 adoption.
between countries, with some countries considering them legal tender while others do not. In the
regulatory • Legal status of cryptocurrencies varies between countries, with
European Union, there is a growing push towards comprehensive regulation of cryptocurrencies,
landscape different approaches to regulation.
while the United States has a more piecemeal approach with different states implementing varying
degrees of regulation. China, on the other hand, has taken a more stringent approach by outright
Web3's value • Web3’s value proposition remains theoretical for most users. banning cryptocurrency exchanges and initial coin offerings. This fragmented legal and regulatory
proposition
appeals to a • The Metaverse and other applications may change this dynamic
landscape presents challenges for the adoption and mainstream use of Web3 technologies.
in the future, especially for digitally native generations.
niche group Finally, although the premise of regaining ownership over personal data and having a greater
stake over the design of the Web is appealing to a significant number of individuals, the tradeoff
Web3 technologies face significant barriers to mainstream adoption. in complexity is too vast for most users. Web3’s value proposition (with the current technological
stack available) is not necessarily appealing to the mainstream crowd, but rather to a niche group
One set of challenges are technical, including scalability, interoperability, and user experience of communities. Despite successful use cases, the ecosystem’s value proposition remains – for the
design. For example, Web3 tools such as blockchain, are not scalable to the level required for mass vast majority of users – theoretical rather than unequivocally tangible. Of course, this could change
uptake. Systems are “notoriously inefficient and slow”, specifically when it comes to processing at some point, specifically with the relevance that applications such as the Metaverse are amassing
transactions (Park et al., 2022). with digitally native generations.

Thought Piece on Web3

Considerations and Scenarios 15 Thought Piece on Web3
Considerations and Scenarios 16
Possible Futures and Key Considerations Possible Futures and Key Considerations

Possible Futures and

Key Considerations Proliferation of
microservices
Hyper-
financialization

Decentral-
Increased user ization of
choice sources of
revenue

Despite its potential benefits, Web3 faces significant obstacles to mainstream adoption. Discourse Novel
(and alternative) Distribution
regarding its value and feasibility is rid with contradictions from proponents and skeptics, with no Shifts in business of decision-
side more convincing than the other. Based on the significant barriers from legacy structures, lack incentives models making
of momentum towards widespread decentralization and absence of a compelling and relatable
value proposition, it seems like the vision of Web3 as the decentralized web is likely overhyped.

However, Web3 understood as an ecosystem of decentralized technologies will likely continue Dis-
Innovative
intermediation
to grow and garner significant uptake across specific use cases. Whilst we do not expect for the of traditional
governance
mechanisms
adoption of these technologies to eliminate the need or predominance of centralized authorities, actors Web3 will Boost to
Heightens
Web3 companies and advocates will continue introducing decentralized technologies across protection
enable new communal
governance
various web applications and specific industries, leading to a more decentralized internet. concerns business and social instruments
models by leveraging
Different parts of the ecosystem will develop prolifically, specifically applications that present a better decentralized
alternative – including a better technical set-up – to processes that are inefficient and cumbersome technologies
under our current systems (e.g. identity management). Indeed, this has already happened for Improves Rise in
identity cooperation
some gaming and DeFi applications and could, in the future, also occur for decentralized identity systems and across
systems. Web3 applications will likely be embedded within Web2 in a hybrid approach, where credentialing disciplines

some applications that benefit from the infrastructure and value proposition of decentralized Automation Increased
technologies will rely on them whilst being accessible via traditional Web2 platforms. of contract-logic auditability of
Enables processes systems Enables
granular informed
Given that this stack of technologies is embedded in a specific socio-political philosophy, it is also control of data decision-
sharing making
likely that Web3 continues to grow within the community of shared believers it has rallied up to now.
Specifically, the governance mechanisms supported by decentralized technologies such as DAOs.
Although governance is “one of the trickiest aspects of Web3,” it could be an area that continues to
deliver significant innovations (Banerjee et al., 2022). Reduce Creates
operational obstacles and
cost to deliver Enhances bottlenecks for
Based on the information available, we believe that Web3 will enable new business and social services transactional corruption
transparence
models by leveraging decentralized technologies, but it is not likely to fulfill the promise of a
decentralized web, at least in the timeframe object of this thought piece1. Under this assumption,
the adoption of decentralized technologies is likely to power important applications with the potential
Figure 3: Web3 Futures Wheel
to transform how things are done across key industries. As with most emerging technologies,
the growth of this ecosystem will bring about significant direct and indirect consequences with
important repercussions for the work, pillars and mandate of the UN. Below, these considerations
are unpacked, paying specific attention to how some of the plausible developments could create
significant value for the Organization if harnessed promptly and effectively.

1 With many coining blockchain as a general-purpose technology, the next evolution of the internet
may well be decentralized and blockchain-based. However, prior to this taking place there is need for a
fundamental reshuffling of social, political and economic spheres, which isn’t likely to occur in the next 3 to
5 years.

Thought Piece on Web3

Considerations and Scenarios 17 Thought Piece on Web3
Considerations and Scenarios 18
Possible Futures and Key Considerations Possible Futures and Key Considerations

Novel (and alternative) business models Increased auditability of systems

• The growth Decentralized technologies will be used to drive innovation across key industries, • With a technical A core characteristic of blockchain-based systems is that transactions records are
of the Web3 leading to the revamping of core business models and the creation of new ones. set-up that public to all users, immutable and ‘power-proof’, meaning that a single person
ecosystem will For example, applications that build on decentralized technologies could change creates greater cannot hide or delete a transaction. These characteristics are embedded in the
trigger changes payment and business structures core to a transaction-based economy. A growing obstacles for technical set-up of decentralized technologies – they are designed to make it very
within the use case is that of royalty structures, where a combination of NFTs and smart corruption, Web3 difficult for an actor to exercise control over the system and cause it to fail.
business models contracts can be used to facilitate payments for creators when their work is traded could usher
of existing in the marketplace beyond the first purchase. It introduces a technical setup that in platforms That is not to imply that these technologies are immune to hacking—in fact,
institutions. enables the creators of a good - be it a song, personal data, or digital art - to realize with enhanced there are several instances where phishing attacks or manipulations of the

• Although Web3
gains from trade across the asset’s lifecycle and not only at initial sale. An artist transaction protocols have led to sizeable losses. However, it is worth noting that the majority
would not need a centralized platform—like YouTube or Spotify—to monetize their transparency. of these attacks were targeted towards companies building on top of blockchain
technologies
content and obtain royalties directly. A traditional user could even yield revenue protocols or centralized companies in the blockchain space, rather than the
provide an
from choosing who can access their data, effectively creating a data marketplace. protocols themselves. The repercussions from these technical choices are
on-ramp for “the
Overall, as put forth by Esber and Kominers, it seems like “the dynamics of Web3 are increased obstacles and bottlenecks for corruption and enhanced transactional
financialization
less-zero-sum, which means a platform’s overall value creation opportunity can be transparence. Increased adoption of decentralized technologies could provide a
of everything”
bigger”, and bigger for more people (Esber and Kominers, 2022). set-up that renders malfeasance more difficult both from a technical standpoint
they also hold
and by removing the need for intermediaries. Used by well-intentioned players,
great potential
On the other hand, the adoption of these technologies can reduce access barriers they can provide greater transparency and auditability.
to nudge and
for individuals at the margin of current systems, notably in the financial services
incentivize
sector. Cryptocurrencies exemplify some of this potential, by enabling individuals
positive
in places with unstable economies to access less volatile and more reliable digital
behaviors.
currencies. Even more, as noted by Yeoman and Sutton, “Web3 creates the ability to Disintermediation of traditional actors
design and test alternative economic systems that could move society in positive
new directions.” For example, the tokenization of some activities—like carbon
sequestration in a carbon market—could incentivize desirable actions to drive
• Decentralized Because a blockchain is immutable and transactions cannot be reversed nor
services deleted, concerns arise regarding data privacy and protection. In a blockchain,
positive impact. The tokenization of digital or physical assets does not only certify
disintermediate the right to be forgotten is technically unfeasible, and once data is added to
ownership. Tokenizing more abstract constructs, such as intellectual property,
key institutions, a chain - say, containing illegal content - it’ll remain on-chain forever. These
provides grounds for a verifiable claim that can be used to nudge desirable and
with the potential systems prioritize anonymity by-design; in the case of misuse, anonymity severely
sustainable actions.
to generate hinders accountability and can even encourage abuse (Stackpole, 2022). Core to
efficiencies. these heightened concerns, as mentioned above, is the fact that decentralized
However, they technologies rely on self-custody. Whilst the use of cryptocurrencies allows a
exacerbate a suite person in a country with severe inflation to bypass government intervention and
Innovative governance mechanisms of protection mismanagement, a click in the wrong place means that should they misplace
concerns for their funds, they have no or limited insurance or way to recall a transaction. By
• Web3 tools The governance mechanisms designed to support a decentralized web enable users. disintermediating banks, users are also removing insurers, clearance houses,
provide a individuals to have a stake in the decisions made by the networks they are a part
• Decentralized
and others, from the equation. In addition, they are transferring several
technical set-up of. These mechanisms have the capacity to “distribute authority in more diverse
identity systems
functions traditionally handled by institutions like the state to technologists and
likely to boost and inclusive ways” and remove the need for a centralized hierarchy (Yeoman and
will empower
influential corporations, including those in the banking sector. This shift towards
innovation Sutton, 2022). The Web3 ecosystem is creating a sandbox for distributed governance
individuals to
decentralization could also lead to the loss of tax revenue.
with and about experiments that benefit from the auditability and transparency of blockchain
control their
governance (specifically for processes like on-chain voting) and could drive significant and
data and assert
Although the disintermediation of traditional actors generates new concerns, it

• These innovations
impactful exploration and innovation on communal and participative governance
instruments.
their identity
also creates ample possibility to improve processes where either the number or
nature of intermediaries generates redundancy or barriers to adoption. The Web3
hold potential securely, without
technical stack can improve identity and credentialing systems by distributing
to increase compromising
Additionally, innovative governance arrangements are fueling more open identity verification and authentication functions. By some accounts, these
cooperation and their privacy.
environments across critical disciplines. The emergence of fields like decentralized technologies can “change how users connect with applications by offering
participatory
science (DeSci) illustrate how Web3 tools can reshape fields to encourage greater universal sign-in capabilities” (Stackpole, 2022).
decision-making.
collaboration and cooperation. The premise of this movement is to enable scientists
to raise funding, run experiments, share data, and distribute insights openly, but Not only can decentralized identity systems support novel, secure and
protecting intellectual property and attribution. A DAO for example can be created verifiable credentials for individuals, such as proof of education, employment,
to disburse funds based on the network’s majority vote or a scientist can publish a or certifications, but they also allow for individuals to control key data about
prototype for someone to build on while retaining the claim over the original idea. themselves. DID systems can be configured to enable the verification of claims
Web3 tools could see an increase in cooperation across key disciplines to unlock without actually sharing private or privileged information with service providers:
innovations that tackle some of the world’s most pressing problems, such as the “in effect, the user can assert aspects of their identity without necessarily sharing
access of public services thanks to DeGov. the identity data itself” (Litan et al., 2023).

Thought Piece on Web3

Considerations and Scenarios 19 Thought Piece on Web3
Considerations and Scenarios 20
Possible Futures and Key Considerations Possible Futures and Key Considerations

Technical proficiency refers to the skillset needed to comprehensively understand decentralized

Automation of contract-logic processes technologies, including details about how its building blocks and infrastructures can converge
into useful applications. Given the potential to innovate and combine different pieces of the
• Automated smart As explained earlier, the combination of smart contracts, DAOs and ecosystem —say a DAO with a smart contract into a dApp—technical expertise marries broad
contracts and decentralized applications can enable agreements to be executed awareness of emerging applications and specialized knowledge of enabling infrastructures. Where
decentralized automatically. By executing relevant actions according to the terms the Organization is situated in the technical proficiency axis will be defined by its ability to create
applications can established, these mechanisms could significantly speed up and reduce
internal knowledge and a network of partners that can build, connect, and use decentralized
improve efficiency the operational cost to deliver services. For organizations with significant
technologies.
and reduce costs administrative processes that follow some sort of contract logic, the
for organizations efficiency gains could be substantial.
Connectedness on the other hand, refers to the space that Organization carves for itself in the
with administrative
processes and more Automated contract-logic processes could allow for more granular control Web3. It includes the connections and partnerships it is able to form and foster as well as the
control over the sharing over the sharing of personal data. Users could specify exactly which pieces willingness of the ecosystem’s actors to engage with and prioritize the objectives and goals of the
of data. of information they want to share with whom, ensuring that only the UN. In other words, it describes its proximity and importance to the network of Web3 actors.
necessary data is shared and reducing the risk of data breaches.
These two axes are closely intertwined; it is likely that a more technically proficient Organization can
engage with a broad set of actors, which in turn could affect the range and impact of applications it
can pursue to drive wider change. The intersection of these axes creates different personas for the
Organization which ETT believes present plausible scenarios that describe how much value the UN
Scenarios: UN Involvement in the Web3 will be able to create from Web3.

Ecosystem
proficient
To fully realize the value of decentralized technologies in support of the pillars, goals and mandate of

PROFICIENCY
TECHNICAL
the United Nations, a concerted and proactive approach is needed to ensure that the Organization
can participate in the agenda setting process and become a critical node in the continuous
Recluse Enabler
development of the Web3 ecosystem. Importantly, the UN could play a pivotal role in helping
shape the sector’s priorities, for example by drawing attention to impactful use cases and ensuring
CONNECTEDNESS
protection concerns are duly addressed. However, the Organization’s impact will depend on its isolate adjacent
chosen strategic position and the extent to which it prioritizes this emerging technology.
Figure 4: Web3 Scenario Matrix
In this section, ETT envisions a set of scenarios that describe plausible roles for the Organization
in the evolving Web3 ecosystems. Scenarios create a common framework to understand, discuss,
Straggler Liaison
and provoke conversations around potential outcomes and the actions required to achieve them. deficient
They help inform and steer decisions towards a desired future, whilst acknowledging the forces and
tensions that exist with current trajectories. Figure 4: Web3 Scenario Matrix

Why is it important to project these scenarios for the UN? The priorities set for the
ecosystem today will shape the applications, principles and safety afforded to users in the near
future. Considering the decisive role that Web3 could have over the next generation of the internet Recluse As a recluse, the UN faces significant challenges in effecting change
– or broadly, of the digital economy – ensuring that it develops in a principled, sustainable, and throughout the ecosystem. Even if well versed in the technical aspect of
human-centric way is of utmost importance. Given the rapid pace of development, we believe that Web3, it isn’t strategically positioned, and doesn’t have the appropriate
partnerships to drive change. In this scenario, the United Nations faces
it is vital to set in motion a suite of actions to ensure that our desired futures are attainable. The
significant challenges in regulating the decentralized technologies. It may
scenarios described below provide a set of possible roles the UN could find itself in based on the struggle to enforce standards and regulations in a decentralized ecosystem,
strategic decisions it makes to prioritize this technology. leading to issues such as fraud, cyberattacks, and misuse of the technology.
This scenario could result in decreased trust in Web3 technologies and
In the view of ETT, the value that the UN will be able to steward will likely be defined by the balance hinder their adoption for global good.
it strikes across two axes: technical proficiency and connectedness.

Thought Piece on Web3

Considerations and Scenarios 21 Thought Piece on Web3
Considerations and Scenarios 22
Possible Futures and Key Considerations Possible Futures and Key Considerations

Enabler As an enabler, the UN takes a leading role in promoting and developing Straggler As a straggler, the UN has limited capacity to work with organizations
applications that leverage decentralized technologies to address global that understand Web3 applications. The Organization misses out on the
challenges such as poverty, inequality, and climate change, driving opportunity to create internal and external use cases and capacity is severely
significant and tangible progress towards its objectives. Under this scenario, limits.
the UN becomes a central node of the Web3 network. It influences and
incentivizes the wider ecosystem to explore innovations across its core areas
of work and moves the needle towards the impactful and human-centric use The value the United Nations will be able to steward from this ecosystem will be defined by the role
of decentralized technologies for social good.
it is able­—and importantly, chooses—to adopt based on the balance it strikes across the technical
proficiency and connectedness axes. Even though Web3 is still new, it is a rapidly developing
The UN invests in research and development of Web3 technologies, creates
standards and regulations to guide their use and maximize protection, and ecosystem. Hence, it is critical that the Organization begins familiarizing itself quickly with
works with Member States and other stakeholders to implement them. decentralized technologies, how they work, and how the underlying infrastructure enable its use
Furthermore, it fosters global cooperation on Web3, connecting different cases. It will also be important to generate a good level of understanding of decentralized business
nodes of the network to promote trust and transparency. The Organization models and ways in which these technologies can be embedded into existing processes.
becomes central to cooperation efforts across DeGov, DeSci and DeFi hubs.

Specifically, the UN adopts innovative applications to accelerate the

fight against corruption by introducing Web3 systems across its own
transaction-based processes Along these lines, the UN help governments
Critical Questions
to become federators, facilitators and regulators of decentralized digital
identity systems. It shapes global DID standards through a participative
and collaborative process involving Member States, leading to substantial The questions below outline some of the core lines of inquiry for reflection. They may help pinpoint
improvements in the authentication and verification of identities. Concretely, future-state enablers, as well as scope a strategic action plan for the UN.
the UN itself becomes a user of decentralized technology and a sandbox to
experiment with more transparent governance mechanisms.
» How can public sector infrastructures work together effectively with private-sector,
In this role, the UN keeps apprised of recent innovations and is well
decentralized infrastructures?
connected to the Web3 ecosystem, enabling rapid adoption of systems
and applications that reach thresholds of maturity. To preserve this role,
the Organization must be supportive of innovation and tolerant to the
» In which ways could the UN use Web3 infrastructures to create applications that
uncertainty associated with decentralization. It must be open to experiment incentivize, reward and keep track of social impact?
with alternative funding and financial set-ups for its projects, as well as for
itself. » Could the UN leverage alternative financing sources, say via cryptocurrencies,
responsibly, and at-scale to boost and meet funding demands?

Liaison As a liaison, the UN serves as a bridge across the ecosystem, becoming a » Is there room for the UN to become embedded and adjacent to the Web3 ecosystem
facilitator of experimentation and innovation between Web3 companies as to positively influence the sector’s development pathway?
and Member States and national actors. Although it can play a role in
articulating the ecosystem, in this scenario, the Organization struggles to
» Could the UN implement and introduce decentralized technologies to experiment
keep up with the rapid pace of technical innovation, therefore, it is less able
with participatory and innovative governance mechanisms?
to benefit from more complex and novel applications, leading to missed
opportunities and slower progress in leveraging these technologies for
global good. However, because of its centrality to the Web3 network, it can » How can the UN motivate its vast network of stakeholders to cooperate and
still incentivize and put at the top of the agenda important issues and play collaborate on open (scientific, technological, governance) networks?
its part in facilitating global cooperation. The Organization recognizes the
importance of working with Web3 innovators and entrepreneurs to leverage » Specifically, given the breadth of the nodes under the UN network umbrella, the
their expertise and ideas. As with the prior scenario, this scenario could lead diversity of areas of focus and distinct incentives, is it possible for the Organization
to innovative solutions to global challenges and greater public trust in Web3 to adopt tamper-proof systems across its operations to enhance transparency and
technologies.
facilitate collaboration across parties?

Thought Piece on Web3

Considerations and Scenarios 23 Thought Piece on Web3
Considerations and Scenarios 24
About Emerging Technologies Team Glossary of Key Terms

About Emerging Glossary of Key Terms

Technologies Team Decentralized applications (dApps): Applications that connect to a decentralized blockchain
peer-to-peer (P2P) network (Litan et al., 2022).

Decentralized autonomous organization (DAO): “A digital entity, running on a blockchain,

The Emerging Technologies Team expedites the adoption of frontier technologies across the UN that can operate without conventional human management and engage in business interactions
Secretariat. It leverages emerging technologies to generate greater efficiencies and to enhance with other DAOs, digital and human agents, as well as corporations.” (Litan et al., 2022)
the organization’s ability to respond to an ever-evolving technological landscape, whilst providing
appropriate safeguards through the careful identification and evaluation of adoption-related risks. Decentralized finance (DeFi): Financial platforms that run entirely on code using smart
ET Team supports its clients and partners by providing insights, advice, support, and guidance on contracts on a blockchain (Erni et al., 2022).
emerging technologies across four main services: Strategic Foresight, Advisory, Governance and
Concept Delivery. Decentralized science (DeSci): Concept that refers to a decentralized approach to scientific
research and collaboration.

Digital assets: Assets that represent verifiable and ownable intangible digital items (NFT, real
About ET Team’s Strategic Foresight Service world assets, cryptocurrencies etc. (Banerjee et al., 2022).

Digital identity: Digital representation of an individual, organization or thing that exists online,
often in the form of data or attributes that are associated with a unique identifier (ID2020, 2021).
Strategic Concept
Adviory Governance Digital wallets: Software application that enables users to store, manage, and transact various
Foresight Service Delivery
Service types of digital assets, including cryptocurrencies and other digital assets, in a secure and
Service Service
decentralized manner.

Distributed ledger technology (DLT): “a database hosted by a network of computers instead

Provides clients Offered to offices Supports emerging Implements frontier of a single server - that offers users an immutable and transparent way to store information.”
the ability to plan and departments technologies technologies for client
(Stackpole, 2022).
and prepare for an in the Secretariat adoption, creating the specific use cases by
uncertain future, by (and sometimes necessary policies, engaging third parties.
Metaverse: “A massively scaled and interoperable network of real-time rendered 3D virtual worlds
comprehensively member states) to technical standards, The advisory and
assessing domain help understand the recommending forecasting services which can be experienced synchronously and persistently by an effectively unlimited number of
specific scenarios use of current state of frontier processes and may naturally lead to users, and with continuity of data, such as identity, history, entitlements, objects, communications
emerging technologies, technologies, whilst methodologies, the need for a concept and payments” (Momtaz, 2022).
providing tailored also creating a steady ensuring availability of to be proved. ET Team
strategic advantage stream of awareness. building blocks. plays a coordinating NFT: “Blockchain-enabled cryptographic assets that represent proof-of-ownership for digital
and management of role in getting third objects” (Momtaz, 2022).
risks. parties to deliver such
implementations.
Smart contracts: “Code or programs stored on a blockchain that execute when conditions are
met (e.g., terms between a buyer and a seller)” (Banerjee et al., 2022).

The ET Team Strategic Foresight service develops long-term plans for new technology paradigms
impacting the work of the United Nations. The service equips the offices, programs and departments
within the UN Secretariat with the information and processes needed to anticipate, understand
and plan for the use of emerging technologies to advance their mandate and mission, providing
strategic advantage and management of risks. Interested in working with us? Find out more at
Emerging Technologies webpage.

Thought Piece on Web3

Considerations and Scenarios 25 Thought Piece on Web3
Considerations and Scenarios 26
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Thought Piece on Web3

Considerations and Scenarios 27 Thought Piece on Web3
Considerations and Scenarios 28
A THOUGHT PIECE ON

WEB3
CONSIDERATIONS AND SCENARIOS

Prepared by:
EMERGING TECHNOLOGIES TEAM
UN OICT

For more information visit us at:

unite.un.org/emerging tech

For questions contact us at:

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