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Web3 What Is It and What Will It Have to Offer?
01 de June de 2022
Back in the 90s, web 1.0 was born: a network known as Static Web offered people a brand new world; a world in which they could connect to the Internet and access different websites — but not much more than that. Interaction, questions, answers, blogs, videos and, basically, the transition of users from consumers to suppliers, would come later with the Social Web, in 2005. This second Internet revolution allowed people to interact with each other thanks to technologies such as HTML5, CSS3 and JavaScript. It was during these times that giants such as YouTube, Twitter and Facebook were born.
And now, we’re at the dawn of a new revolution that’s just waiting for the necessary technological leap. Users and companies already begin to imagine the possibilities that Web3 will have to offer.
Web3: Birth and Momentum
The term “Web3” was coined by Gavin Wood, labelled The Father of Ethereum, back in 2014. This web is more closely linked to blockchain technology — its service is established through decentralised blockchains just like cryptocurrencies.
In recent years, the idea behind this evolution of the Internet has gained strength and momentum. Just as a proof of the work and investments behind the development of this new web, in 2021, investment in cryptocurrency projects —many of which were related to Web3— reached 27 million dollars.
What’s Web3?
Web3 is the latest evolution of the Internet that seeks to put the power in the users’ hands through the use of decentralised networks and open protocol. Furthermore, this new web presents exchange as one of its basic premises — i.e. users will be able to receive currencies or tokens based on the value they contribute.
However, the best way to understand what this new leap is all about is by understanding the possibilities it will offer the world:
What Will Web3 Bring to the Table? 8 Possibilities It Will Offer:
Democracy| So far, the big Internet titans, like Facebook or Twitter, are the ones with all the power; which means they can eliminate accounts, ban or even set new rules for social networks. Web3 proposes a methodology in which decisions are made by users, for example, by voting.
Monetisation| Instagram makes money by selling targeted ads and through the concentration of user data. But, why doesn’t that money go to the users themselves? This evolution will allow anyone to monetise their activities, data and even receive tokens from other users as a way to say thank you for your content. Can you imagine a Spotify where fans can purchase participation from emerging artists?
Privacy | Web3 has less dependency on current advertising commercial models; thus, trackers, ad bombardment segmented by target, companies that make a living on catching personal data and the risk of these being hacked, leaving all the information exposed, will all be secondary, since data will be decentralised.
New Services | The transition of power from big companies to users will also give place to new social networks, new search engines and new services that, so far, have always been in the hands of the big brands.
Personalisation | This new version of the web will make our searches much faster thanks to personalisation. Data analysis will work in our favour and offer us results that adapt to our needs.
Personal Data Control | Now, users will own their data — they will be the ones keeping it and deciding what to do with it. Sharing only what’s in their best interest can be a good option to benefit yourself from web personalisation without anyone knowing about your political inclination or even your blood type.
Freedom of Speech | This new model is presented without any restriction on content publication. That’s good news for anyone who wants to give an opinion without being restricted or banned from a social network. However, this is a double-edged sword, since fake-news will also fill up the place.
Metaverse | Of course, it’s impossible to talk about the future of the Internet and don’t mention the metaverse. This new web will perfectly adapt to what this new world proposes, allowing us to create virtual universes, 3D websites and devices with integrated IoT.