Web 3.0 is the emerging paradigm of the Semantic web, where there is no central authority or gatekeeper. Whereas Web 2.0 was propelled by advances in social networking, mobile internet access, and cloud, Web 3.0 will be defined by advances in edge computing, decentralized data networks, blockchain, AR/VR and artificial intelligence. Web 3.0 is only just coming into picture. It will serve as an extension of many elements of Web 2.0, but will also create entirely new experiences and blue ocean opportunities.
Whereas Webs 1.0 and 2.0 were cultivated, mass adopted, and financially exploited principally in a few technology hotspots -- US, Western Europe, and APAC, Web 3.0 will be global. We are entering a ‘New Digital World’ of borderless and frictionless transactions that will touch many aspects of life -- work, commerce, socializing, entertainment, etc. More and more people will have the opportunity to participate in this new world and benefit; geography and market access will no longer be major obstacles to success. The future is bright!
- For example, developers could combine parts of applications together or entire applications to customize how they experience and benefit from products and services.
- Through the use of advanced AI, Web 3.0 search engines will offer personalized results based on individual preferences and needs. For example, if an IPA drinker and a Lager fan type ‘breweries near me’ in the search bar, they will receive different results for nearby breweries based on the type of beer brewed. Of course, this also means algorithms will know more about users.
- More than 50 percent of data centers in the world are currently owned by Amazon, Google, and Microsoft. In Web 3.0, decentralized cloud networks and autonomous storage units will gain traction. Individuals will host and secure applications or ‘shards’, earning income that would otherwise go to large incumbents.
- In Web 3.0, identity management will devolve back to individuals. People will control their digital assets and data, as well as access to them. Centralized and federated identity providers from Web 2.0 will fade into obscurity.
- The ‘Metaverse’ will emerge, enabling people to participate and engage with a variety of 3D environments, including games, marketplaces, work spaces, socializing etc. The Metaverse will combine elements of AR/VR, blockchain/digital assets, semantic web and AI.
Whereas Webs 1.0 and 2.0 were cultivated, mass adopted, and financially exploited principally in a few technology hotspots -- US, Western Europe, and APAC, Web 3.0 will be global. We are entering a ‘New Digital World’ of borderless and frictionless transactions that will touch many aspects of life -- work, commerce, socializing, entertainment, etc. More and more people will have the opportunity to participate in this new world and benefit; geography and market access will no longer be major obstacles to success. The future is bright!
