Blockchain technology is 'the future of the internet', says key crypto investor Chris Dixon (2024)

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Blockchain technology is 'the future of the internet', says key crypto investor Chris Dixon. Chris Dixon, Andreessen Horowitz general partner, joins 'Squawk Box' to discuss the ramifications of SEC's spot bitcoin ETFs decision, the NFT market, the state of crypto at large, future of crypto regulation, and more.

It is difficult to talk about the future of the internet without mentioning blockchain. That is because the new technology is showing immense potential and, indeed, is already in a significant way shaping how the future internet will look.

Blockchain's initial popularity was due to its use to facilitate cryptocurrency transactions, but its use today extends far beyond this. The potential future scope of blockchain technology includes supply chain management, cloud storage, cybersecurity, and smart contracts.

Blockchain offers a structure that allows data to be recorded and updated in a distributed manner. This distributed structure ensures that data is not stored at a single central point but is distributed among various nodes. Generally, blockchain operates as a distributed database.

The third generation of the World Wide Web (WWW), referred to as Web 3.0 or Web3, emphasizes instantaneous immersion in the digital world. This version of the internet emphasizes personal data ownership and the use of blockchain technology and cryptocurrencies.