What Is Web 3.0?

29 Nov 2018
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Web 3.0 represents the next iteration of the internet.

The consensus is that Web 3.0 will give more control and power over data to individual users. Technologies like blockchain, artificial intelligence (AI), and the Internet of Things (IoT) will make the Web more intuitive and interactive. You’ll be able to ask your personal AI assistant to research flights, book a blockchain-verified ticket with digital currency, and call a driverless car to take you to the airport, all using voice control or a few taps on your mobile device.

A Bit of History

The early Web required users to connect via a noisy router and a phone line. Companies like AOL and Netscape were the giants of Web 1.0, and the user experience on the internet mostly involved clicking links and reading web pages.

Web 2.0 introduced interactivity. As web platforms improved, users could watch videos, share photos, contribute to online projects, and instant message their friends. The mobile revolution further expanded the interactivity of Web 2.0. Now, everyone has a powerful computer with a fast internet connection in their pocket.

Web 2.0 democratized access to the internet for people around the world. The UN estimates that the number of internet users grew from 738 million in 2000 to 3.2 billion in 2015. However, the wealth from commerce, advertising, and data that Web 2.0 generated all went into the pockets of a few major corporations. Companies like Amazon, Apple, Facebook, Google, and Microsoft hold tremendous sway over our society because of the platforms and data they control.

Intuitive, Powerful Control Over Data

Web 3.0 promises to give control to consumers, with all the freedom of Web 1.0, but all the benefits of recent technological developments. Decentralization, blockchain security, and democratized access to AI are the primary drivers behind this power shift. The new internet will be pro-privacy and anti-oligarchy. Web access and user data will no longer be controlled by a handful of companies, thanks to the privacy provided by encryption and distributed ledger technologies.

While the technology is still being tested, solutions for decentralized storage, file transfers, messaging, personal AI assistants, Identity of Things, browsing, and computing are all under active development. All of these solutions will require new infrastructure for computing support and power. This new paradigm promises to dramatically change the way we think about data and finding information. Our day-to-day lives will change in innumerable ways as Web 3.0 powers everything, including money, education, transportation, energy, insurance, real estate, agriculture, manufacturing, supply chains, and more.

We know this sounds a bit hard to believe but consider this. When Web 1.0 started gaining traction, only a small minority of people could even imagine how radically it would change business and everyday life. We’ve now seen how disruptive the web can be, we just haven’t seen new technologies, until recently.

Most people think of internet innovation as a slight improvement on an existing technology, like the iPhone 8 to the iPhone X. We think of Web 3.0 as the shift from a flip phone, to the iPhone, in that it represents a complete paradigm shift, that will change the way we access, process, and engage with digital spaces. In this series we’ll share why this revolution is going to be so impactful, detail the reasons it’s not just another minor improvement on existing technology, and what it all means for your livelihood, business, and future.