Web3 Can Impact the World. Why Haven’t More People Joined In?

Let's see how Web3 is impacting the world and why haven't more people joined Web3

The late 1990s were a thrilling era for the internet. It was the dawn of the information age, a new era of technology and communication. The internet was still in its infancy, and the possibilities for its use were still being explored.

Several facets of our lives have changed as a result of this brand-new, dynamic era of digital communication, from the way we interact and collaborate to the way we shop and consume material. With the emergence of Web3, a new internet paradigm, we are at a similar inflection point today. The possibilities for digital communication and collaboration in the future are even more exciting.

However, Web3 can impact the world but it is still in its early stages of adoption, similar to the internet in the late 1990s, and faces similar fundamental challenges, namely its ease of use and infrastructure capabilities. Web3 technology risks falling short of its full potential unless it drastically improves in these two areas. In this article, we have discussed how Web3 impacts the world.

Web3's Real-World Uses

The emergence of Web3 already has many real-world applications. Financial services, such as peer-to-peer payments, micropayments, and decentralized asset trading, are obvious examples. However, there are far-reaching use cases in data storage and sharing, identity management, and the IoT sector, all created by a user-incentivized structure that retains the core ethos of Web3.

The Web3 approach to offering safe, open, and financially motivated frameworks has already sparked the creation of innovative business models that are redefining how we perceive and use the Internet. Web3 is redefining how we interact with the digital world. It gives users unprecedented levels of trust, privacy, and control. Despite its potential benefits, Web3 adoption has been slow. According to the Pew Research Center, as of 2021, 16% of Americans approximately 52 million people had already invested in or used cryptocurrency in some way, implying that they had created digital wallets. This leaves roughly 80% of the country without crypto wallets, effectively excluding them from Web3.

Making It Simpler for Users

Developers are finding ways to improve interfaces and user-friendly tools to interact with the technology as the Web3 movement grows. Users' ability to interact with Web3 reliably and seamlessly is becoming increasingly important.

Users should be able to learn how to use the decentralized software easily and swiftly without having to read lengthy user instructions, and manuals, or work through laborious troubleshooting via Discord and Twitter, therefore developers must make sure that interfaces are as simple and fluid as possible. Furthermore, we must stop using overly technical terms and jargon, which can be confusing and intimidating to users.

Users can tailor their interactions to their specific needs and preferences by allowing them to customize their experience. To fulfill their unique needs, this entails introducing and removing features, changing settings, and making other adjustments. The infrastructure is not yet in place to accomplish this, but it is on its way.

Infrastructure: The Internet's Cornerstone

In the early 1990s, the infrastructure required to connect to the Internet was costly and required extensive technical knowledge. A personal computer, a modem, and an internet service provider subscription were required for basic internet access. This was a significant barrier for many people, particularly those from low-income families. Furthermore, even if someone had the necessary equipment, there were only a few options for connecting to the internet, such as dial-up services that were slow and prone to disconnections.

The infrastructural gap was made worse by the fact that the majority of people had little to no knowledge of or access to the Internet. As a result, there was a small population of people who could gain access to and benefit from the internet, resulting in a significant digital divide between those who could and those who couldn't. Fortunately, thanks in large part to infrastructure, technology has advanced significantly since then.

With the introduction of smartphones, tablets, and other mobile devices, people were able to access the web and its services without being reliant on a desktop computer.