A digital asset
investment fund
Viska is an alternative investment fund based in Iceland that invests in digital assets.
Viska is an alternative investment fund based in Iceland that invests in digital assets.
Over the past three decades, the internet has evolved from static pages into a dynamic, participatory, and increasingly advanced network. We are now entering a new phase, often referred to as “Web3”, where blockchain technology and artificial intelligence are not only reshaping how we interact, transact, and build trust online, but also converging in ways that will define the next era of the internet.
Web1: The Static Web
In the early days, the internet was largely read-only. Users could access information but had limited means to contribute or shape it. Websites were static, and control rested in the hands of a few publishers.
Nonetheless, as with all technological shifts, new ideas were met with criticism and doubts, just as we have seen time and again throughout history.
Image of a Daily Mail Newspaper that was published on 5.12.2000.
Web2: The Social Web
With the rise of social media, blogs, and user-generated content, the internet became participatory. Platforms like Facebook, Twitter, and YouTube enabled billions of people to create and share information. But this shift also consolidated power within a handful of technology companies that now act as gatekeepers, extracting value from the networks they host.
The psychology behind participation was also central to this shift: as users contributed content, built connections, and gained recognition, they became more invested in the platforms themselves, reinforcing network effects that were ultimately in the internet's benefit but also deepened reliance on a few centralized actors.
Chart from Digital 2025 Report
Web3: The Ownership and Intelligence Web
Blockchain technology and AI together are giving rise to a new paradigm—one where individuals can own digital assets, participate in decentralized networks, and benefit from intelligent systems that enhance transparency, efficiency, and fairness. Whether through cryptocurrencies, NFTs, decentralized finance (DeFi), or AI-powered decentralized applications, Web3 is fundamentally about shifting power away from centralized platforms and enabling a more open, collaborative digital world.
Image by CoinTelegraph showing the evolution of the internet on a timeline.
In recent times, we have seen exponential advances in computing power. The same GPUs that made AI breakthroughs like large language models possible have also fueled the growth of blockchain networks. Cloud infrastructure, cryptographic innovations, and distributed computing have laid the foundation for decentralized applications that can scale globally and intelligently adapt.
Image by WEF Report
As more advancements are made, it might appear at face value that increasing computing power results in greater energy consumption. However, many chip companies have improved efficiency to achieve higher computational output with less electricity usage, balancing performance gains with sustainability considerations.
Over the years within the Bitcoin Mining Industry, we have moreover seen improvements made in the efficiency of the hardware that is being used.
While AI and blockchain remain distinct technologies, there is increasing crossover in their relevance and application, as they often intersect to create complementary solutions for the digital world. AI models rely on high-integrity data, and blockchain offers a tamper-proof ledger to guarantee data provenance. Conversely, AI can enhance blockchain systems by improving performance, detecting anomalies, and enabling smarter contracts.
Image by CMT Digital, showing many of the relevant projects that would fit into the Blockchain x AI Category.
While media headlines often focus on hype cycles and volatility, we are still in the early stages of this transformation. Blockchain and AI adoption today resemble the internet in the late 1990s full of experimentation, infrastructure building, and healthy skepticism. As regulatory clarity emerges and these technologies continue to integrate, adoption is likely to accelerate.
The evolution of the internet is entering a new epoch—one where blockchain and AI are converging to reshape the global economy, governance, and daily life. For those willing to engage, experiment, and build, the opportunity is immense. The foundations we lay today will define the future of the internet for generations to come.
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