Web 3.0, sometimes known as Web 3, is the emerging phase of the Internet. It is based on the idea of creating a totally decentralized ecosystem. This new technological dimension believes in leveraging the power of Artificial Intelligence, Machine Learning, and the latest technologies like Blockchain to solve the problems of the present-day internet/online ecosystem.
Web 3.0 does not require “permission”. It means that central authorities don’t dictate who uses what services, nor is there a need for “trust,” referring to the idea that a mediator does not need to facilitate digital transactions between two or more parties.
Also, it protects user privacy better as well, because it’s these authorities and intermediaries that are doing most of the data collection. Web 3.0 is an umbrella term that encompasses several ideas and ultramodern visions of decentralization where community-powered, advertising-free, and self-monetized content will reign supreme. Although it will disrupt many existing Web 2.0-based business models, the creator economy is positioned as the biggest benefactor of this ongoing revolution vis-à-vis a reinvented social media paradigm.
The future of Web3.0
With the potential to revolutionise how we use the internet, Web 3.0 will enable services to be used anywhere, thanks to the fact that all data and information are given access to multiple smart apps. With this latest technology, professionals and recent graduates from every sector will witness an internet system that is more dynamic and interactive than the one we currently use.
And since the data is stored across several systems, there is also minimal risk of information leaks, making Web 3.0 more resilient. For example, in the healthcare industry, Web 3.0 will make automating all the incoming data a quicker, more efficient, and seamless process. Medical practitioners will then be able to rely on Web 3.0-based applications that will fasten the process of new admissions and cut down latencies in the doctor-patient relationships. For technology-related professionals, Web 3.0 will be a game-changer.
Web 3.0 in our day-to-day life
The basic idea behind the concept of Web 3 is to make the internet a smarter place. This new era of the web will make the global internet more responsive, intelligent, and capable of giving a more satisfying and tailored experience to the user. It will efficiently transform the way we know or use the internet today.
- Artificial Intelligence: One of the primary features of Web 3.0 will be its ability to decipher human emotions and thoughts. Artificial intelligence (AI) will be used extensively to filter data and content and to tailor the search results according to the user’s preference.
- Semantic Web: Semantics is the study of the linkages between words. The semantic web would enable the computer to analyze data and information and then it helps to decode the meaning and emotions that they are trying to convey. This will help in giving a better and more immersive internet usage experience to the users.
- Ubiquity: Ubiquity means the power to be present everywhere at the same time, or in simpler words, ubiquity means omnipresence. As we know, Web 2.0, or the internet as we know it today is already quite omnipresent. Hence, Web 3.0 will simply take it a step further by making the internet more widely accessible using the Internet of Things (IoT).
- 3D Graphics: Web 3 or Web 3.0 will bring in new graphics technology, making the three-dimensional virtual world a reality. The use of 3D graphics will make the internet user experience more enticing and will also be helpful in transforming a variety of sectors like health, e-commerce, real estate, defense, technology, etc.
Challenges and future of Web 3.0
Web 3.0 promises verifiable, self-governing, trustless, permission-less and robust transfer of data and information across the platforms. For the transition of Web from Web2 to Web3, a greater number of people should start developing and using decentralized applications.
The main challenge using these decentralized applications is that there is a large chunk of the non-technical user base existing in society. In order to make web3 a success we have to create simple decentralized applications, which are easy to use for each and every user out there. With the advancement of technology, it won’t be a surprise if in the next several years, the internet shifts from Web 2.0 to Web 3.0.
Conclusion
Web 3.0 is a game-changer for businesses and entrepreneurs, and is enabling businesses to better understand their customers, and manage their data. Also, improving their products and services. For entrepreneurs, Web 3.0 benefit is making it easier to raise funds, acquire customers, and research their markets. With the right approach, businesses and entrepreneurs are capitalizing on this new technology and staying ahead of the competition. Web 3.0 is an opportunity for businesses, start-ups, and entrepreneurs for taking their businesses to the next level. All they require is the correct approach.
