Some technology experts say, Web3.0 will be a new type of internet that not only accurately interprets what you enter, but actually understands everything you convey, whether through text, voice or other media, where all the content you submit consumption is more tailored for you than ever before. Currently, there are several platforms that are said to have adopted Web 3.0 but the impact will not be too visible until all the technologies used are embedded in the web infrastructure. But what exactly is Web 3.0, what does it look like, and how will it change our lives?
1. What is Web 3.0?
Web 3.0 is the upcoming third generation internet where websites and applications will be able to process information in an intelligent way through technologies like machine learning, big data, decentralized ledger technology (DLT), etc. Web 3.0 was originally called the Semantic Web by World Wide Web inventor Tim Berners-Lee, and was intended to be a more independent, intelligent, and open internet. Moreover, the definition of Web 3.0 can be extended to mean that data will be interconnected in a decentralized way where data is mostly stored in a centralized repository. Furthermore, users and machines will be able to interact with the data. But for this to happen, programs need to understand information both conceptually and contextually. Thus, the two main foundations of Web 3.0 are the semantic web and artificial intelligence (AI).
2. Web 3.0, Cryptocurrencies and Blockchain
Since the Web 3.0 network will operate via a decentralized protocol i.e. the blocks that make up blockchain technology and cryptocurrencies, it is highly likely that there will be a strong relationship between the three. We can expect to see a meeting and symbiotic relationship between these three technologies and other fields.
3. Web 3.0 Technology
Web 3.0 is actually not a new concept which Jeffrey Zeldman, one of the early developers of Web 1.0 and 2.0 applications, wrote in a blog that put his support behind Web 3.0 in 2006. In fact, the talk around this topic has started since 2001. Web 3.0 later it will be born from the natural evolution of old generation web tools combined with cutting-edge technologies such as AI and blockchain, as well as interconnection between users and increasing internet usage. So you could say Web 3.0 is an improvement from its two predecessors, web 1.0 and 2.0.
A) Web 1.0 (1989-2005)
Web 1.0 or also called Static Web, was the first and most reliable internet in 1990 although it only offered access to limited information with little or no user interaction. Web 1.0 does not have an algorithm that can filter internet pages so it is very difficult for users to find relevant information. Simply put, the old web generation is like a one-way street with narrow paths where content creation is done by a select few and information mostly comes from directories.
B) Web 2.0 (2005-present)
The Social Web, or Web 2.0, makes the internet much more interactive thanks to advances in web technologies like Javascript, HTML5, CSS3, etc., which allow start-ups to build interactive web platforms like YouTube, Facebook, Wikipedia, and more. These developments also paved the way for social networking and user-generated content production to thrive as data can now be distributed and shared among various platforms and applications.
C) Web 3.0 (not started yet)
Web 3.0 is the next stage of web evolution that will make the internet smarter by processing information with artificial intelligence or AI. Through the power of the AI system, it will be able to run smart programs that can help users. Tim Berners-Lee has said that the Semantic Web is meant to "automatically" interact with systems, people, and home devices. Thus, content creation and decision-making processes can involve both humans and machines. Therefore, the intelligent creation and distribution of content will be highly customizable directly to each internet user.
4. The Dream of a Digital World That Facebook and Google Can't Control
Web 1.0, which was colored by text and static images, slowly turned into Web 2.0, the world of the internet as we know it today. Web 2.0 is currently controlled by several entities such as Facebook and Google which makes it centralized or centralized. Meanwhile, Web 3.0 which is currently being coveted is a decentralized or non-centralized network world. The data that moves on Web 3.0 is not controlled by any company or party, but rather the control and ownership is distributed among users. Web 1.0 was an era marked by decentralized open protocols. The earliest platforms to run on the internet are powered by open-source code, shared via forums, bulletin board systems, and mail groups. Most of what happened on Web 1.0 was unpatented and free. Then around 2000 came to Web 2.0, a new generation of online services emerged as the increase in internet speed made streaming sites like YouTube and Netflix more prominent. Then, at the same time, social media emerged, followed by the ability to connect to other media via video sharing or streaming services. Web 2.0 is also witnessing the rise of the mobile internet, giving more access to the platform thanks to mobile and tablet devices. This Web 2.0 platform emerged from businesses and corporations. The open-source code and platform that once defined Web 1.0 has become a proprietary system, so no one can copy and modify this model without anticipating the possible legal consequences. Moreover, the emergence of such platforms unites users into a centralized system, which is ultimately controlled by big tech companies like Facebook and Google. Soon, the collection of user data in this centralized system became standard practice and a business resource for them. Now the development of the internet and decentralized applications (dApps/decentralized applications) supported by blockchain networks appear to 'take' control of the internet, making it a distributed data hosting and platform whose control is returned to the user.
One of the existing decentralized platform models is decentralized finance (DeFi). DeFi has offered millions of people around the world a means of exchanging assets, earning passive income, taking out loans, and more, all without intermediaries demanding huge rewards. New worlds like DeFi open up possibilities for new things like SocialFi, or a mix of social media and finance or GameFi too. All of these platforms depend on the blockchain. Without blockchain, the option of sending money via social apps is more complicated, less secure, and will require a third party to act as an intermediary. Meanwhile, with the help of blockchain, users can transact more easily, more efficiently, and eliminate expensive intermediaries. Furthermore, decentralized technology provides an entirely new business model to replace the currently prevailing internet archetype. The business model comes in the form of a decentralized automated organization (DAO) that distributes control to a group of users, and allows them to have a say in the direction of platform development and drive usage through ownership. This means startups can now compete in the 'space' on par with existing services, attract user bases through incentives and use user networks to expand reach. The presence of this new internet platform will completely change the way users, developers and all brands interact in the digital space.
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