Online Marketing & Digital Marketing

What Is Web3.0? How It Works, Examples, and the Future

By Shanon Roberts, on 17 January 2023

The Internet has not always been as we know it. Being able to write a question in a forum, interact on social networks, and share photos and videos are real novelties.The Internet has gone through several stages and is continually evolving. In its early days, known as web1, it was read-only and web pages were completely static. Nowadays, we have the so-called web2, which allows for interaction, the constant uploading of information, and many marketing activities. But, what is known as web3.0 is taking shape! Let’s look at what it is and what we can expect to see.

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What Is Web3.0

 

What Is Web3.0?

If web1 allowed us to read information from anywhere in the world and web2 let us interact and share our lives and experiences, web3.0 is bringing users more independence. This new Internet era also aims to introduce new dynamics in monetary exchanges with the creation of digital assets or currencies, such as cryptocurrencies.

This will allow users to have more control over their digital identity and the content they share. They will be able to decide who they give their data to and how far they want their privacy to extend.

Finally, web3.0 will be great for brands. The new era of the Internet brings technological evolutions like machine learning, big data, and AI. These are capable of analyzing and storing data automatically, making it possible for users to receive content and information that is much more personalized and adapted to their tastes.

In addition to all of the above, this new era will bring with it the possibility of everyday objects, such as light bulbs, being connected to the Internet. This is what we call the Internet of Things or IoT.

Finally, web3.0 is also known as the semantic web because it will better understand human search intentions, their nuances and complexities, offering better results.

 

What’s Your Relationship With the Metaverse?

The metaverse will be part of this new web3.0, that is, the technology behind this new Internet era is what gives life to the metaverse. However, they are different things with different objectives. While web3.0 aims to make the Internet more democratic, secure, and free, the metaverse aims to create digital universes. Nevertheless, they have several things in common:

  • They aspire to offer users greater privacy and greater control over data.

  • They aim to offer a never-before-seen user experience.

  • They rely on blockchain technology to be able to provide a decentralized service. 

We could say that the metaverse and web3.0 complement each other. However, the metaverse could not exist without the technological advances that will constitute web3.0.

 

Examples of Web3.0

  • Open social networks: thanks to the use of blockchain in this new era of the Internet, anyone will be able to have an account regardless of where they are located. Social networks will also improve their algorithms with AI to offer more personalized content that is more in line with users’ preferences. 

  • More secure messaging tools: the blockchain will also make it possible for applications such as WhatsApp, Telegram, or email to guarantee greater privacy and security. In addition, the speed of sending messages will improve.

  • End of the monopoly of streaming platforms: platforms such as YouTube, Spotify, Netflix, or Twitch offer a great service, but each can improve. They can make their policies clearer, verify that user data is not used for advertising purposes, increase payments to their creators, and ensure that there is equal opportunity for more creators to grow.

 

Web3.0: Decentralized Internet

One of the most striking features of web3.0 is that the Internet will be decentralized. What does this mean? Basically, it will put an end to the hegemony that, for some time now, the big technology companies such as Amazon, Google, and Facebook have had. Decentralized applications have been around for some time, but they still have a long way to go to improve their user experience and achieve greater scalability, and better profits.

What do we gain from decentralization? Mainly, users will have more power. 

All this will be possible thanks to the blockchain technology. It will make it possible for the Internet not to depend on centralized servers and instead consist of blockchains.

However, decentralization also has its drawbacks:

  • It will be more difficult to manage for those who struggle with technology.

  • There is a risk that people will spend more and more time on the Internet.

  • According to some experts, this decentralization could increase the number of online abuses and cybercrimes.



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Shanon Roberts

International Digital Marketing Strategist