Auditing Risks of Web 3.0

Abstract

With increasing reliance on internet technologies, auditing plays a critical assurance role. This chapter explores the evolution of the internet into the emerging landscape of Web 3.0, built on decentralized and semantic technologies like blockchain that transform today's web architecture. It analyzes the vision, potential applications, and inherent governance, risk, and business impact considerations involved in this blockchain-powered reinvention of the web. It further discusses key risk domains in Web 3.0 that warrant audit scrutiny, including decentralization, blockchain, cryptocurrencies, and semantic inaccuracies. This chapter provides technology leaders, auditors, and regulatory stakeholders with an overview of Web 3.0 while highlighting the pivotal governance, risk management, and assurance challenges involved in this transition. It prepares readers to evaluate the analyses and recommendations centered on securing this next-generation, decentralized web future.