With reference to Web 3.0, consider the following statements:

1. Web 3.0 technology enables people to control their own data.

2. In Web 3.0 world, there can be blockchain based social networks.

3. Web 3.0 is operated by users collectively rather than a corporation.

Which of the statements given above are correct?

The correct answer is 1, 2 and 3.

Web 3.0 represents the next generation of the internet, focusing on a decentralized web where users have control over their own data, identity, and transactions. Let us analyze each of the given statements step-by-step to understand why they are all correct:

Statement 1 is correct:
In Web 1.0 and Web 2.0, user data is primarily stored and managed on centralized servers owned by large tech corporations. In Web 3.0, decentralized data storage solutions and cryptographic keys allow individuals to own, manage, and decide who can access their personal information. This technology directly enables people to control their own data.

Statement 2 is correct:
Web 3.0 leverages blockchain technology to build decentralized applications (dApps). This makes it entirely possible to run social networks on top of blockchains (such as Mastodon, Steemit, or Lens Protocol). These platforms distribute control and data hosting across a network of nodes rather than a single company's servers.

Statement 3 is correct:
Web 3.0 is built on decentralized protocols and platforms governed by Decentralized Autonomous Organizations (DAOs) and smart contracts. Instead of a single corporation dictating terms, operating the infrastructure, and extracting value, Web 3.0 networks are operated and maintained collectively by their users and token holders.

Therefore, all three statements are correct, making 1, 2 and 3 the correct option.