What is Web3?

A man in a suit holds a tablet, hovering above is a short text surrounded by bright spirals. The text reads "WEB 3.0"

As users are becoming more aware of how their data is being harvested every time they go online, they are demanding more control and more transparency.

This is where web 3.0 will lead the way, as it will speed up fair and transparent use of data as well as making the internet more immersive and providing a more personalised experience.

So, what exactly is Web3?

What is Web 3.0?

Web 3.0 (or Web3) refers to what will be the third major development of the internet, and at present is a concept which is still being defined. When the internet was first developed (web 1.0) it was passive, with users simply reading web pages. Web 2.0 which is where we are now is more interactive with social media, online commerce and interaction in real time.

Web 3.0 will be the next development in internet use. It is thought it will have four main features which differentiate it from web 2.0.

  •  Decentralisation – In an era of data security concerns, web 3.0 will move away from centralised services which is the foundation of nearly all applications at present. Instead, applications will be built on decentralised autonomous organisations (DAO) where data will be distributed between builders and users, without a central authority storing all the gathered data.
  • Blockchain-based Technologies – To create such decentralised applications and services blockchain-based technologies will be used. Essentially blockchain is a distributed ledger technology (DLT) which takes blocks or chunks of unrelated data, and links them together.
  • Cryptocurrency-enabled – Many web 3.0 services will be accessible using cryptocurrency moving away from fiat currency which is supported by a gold or silver commodity.
  • Artificial Intelligence – Artificial intelligence and machine learning will play a more active role in Web3. The goal of AI utilisation is to ensure a more meaningful user experience through providing a faster service and more specifically tailored data. This will also allow much more automation to services.‍

The use of blockchain-based technologies and AI and machine learning will also change the way that websites are made as well as changing the way users interact with them. AI applications will potentially limit the amount users will be able to or need to contribute to site content, as well as tailoring the data to fit the user’s unique online profile.

Whilst information will still be gathered, the semantic web will be able to categorise and store it using AI technologies ensuring it will generate and share more relevant and interesting content for the user.

In theory Web3 will also be democratised where the hardware (e.g. servers, systems, and networks) where data is stored and which run the applications will be owned by the users. They will potentially have voting rights on rules and regulations and how data and applications are used. How this will work has not clearly been defined but asking users to vote does bring to mind ‘Boaty McBoatface’.

Is it the future?

Whilst a complete change to web 3.0 is about 10 years in the future, there are elements which will be slowly introduced making the change over happen gradually.

Recently discussions on the Metaverse have been rife, and whilst this is not web 3.0 as such, it is a step towards a more immersive online experience. Another service is ChatGPT launched by OpenAI, which is an AI-based content generator. For some, these developments are concerning as they could remove the need for humans in many roles, as well as remove users from the real world into the virtual world.

However, these advancements are the future as we all expect quicker, more reliable and more convenient services. They will be drip fed into our daily lives until before we know it we will be discussing web 4.0 and the next level of developments.

What next?

If you are worried about data security in this pre-web 3.0 world, give the team at SupportWise a call. We’re not AI-generated chat bots but real people with real solutions to your problems!

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