It's hard to imagine that such a scenario would be realistic, especially without the appropriate tools to guarantee security and equal opportunities for all participants. Fortunately, Web3 has such tools, the most important of which are blockchain, smart contract, and tokens.
Blockchain
Blockchain is the technology on which Web3 is based. It's a system that allows you to store and send information so that it's fully accessible, transparent, and anonymous for all system users. Blockchain is based on a peer-to-peer network, where every computer connected to the web takes a direct part in sending other users' data. As a result, there is no room for central data management or filtering by third parties.
Smart contracts
Smart contracts are part of the blockchain; they are programs that automatically implement contract terms. In smart contracts, no intermediaries, such as lawyers or governments, verify the contracts' correctness. So, for example, when you buy real estate, you become its owner in real-time, exactly when all the contract's requirements are met.
Token
A token is a virtual currency (a unit of value) issued by a given blockchain and widely accepted by all its participants. Tokens represent your digital assets, e.g., the weight of your vote in a given organization. Tokens are most often created and distributed among users during the ICO (Initial Coin Offering), which is the equivalent of a stock exchange in the blockchain world.
DAO
DAO (decentralized autonomous organization) is a group of people who are united by an idea (e.g., creating a game, company, platform, or application) and agree to certain predefined mechanisms to govern their project. DAO is characterized by the lack of central management, profit sharing between all organization participants, or an open book of accounts. DAO organizations use blockchain as a fundamental system, with smart contracts to conclude and execute contracts and tokens that entitle their owners to specific activities within the organization.
