Web 3.0 or the third version of the web is set to alter the web we know to work around today. The very beginning of the internet era has been split into three (thus far) - web 1.0, web 2.0 and now web 3.0. The first essentially is rapid consumption of the data by netizens, the second witnessed the role of the users expand to that of contributor and active members and the 3.0 version will expand on these.
The center of web 3.0 is heightening the use of the internet in itself and providing better privacy. The focus will be on decentralization so the web acts as a platform for everyone rather than a stage for some - the revolution of the digital world we know today.
Web 2.0 saw that tech giants like Amazon or Facebook stored a lot of user information and exposed this to be a rising concern with cyber security and data mining for elections. With the 3.0, this is supposed to improve as it will be built on blockchain technology that dilutes the monopoly of ownership or control. Users will exercise greater control over content shared by them over social platforms in order to protect them from any potential data exploitation. With the use of Artificial intelligence and machine learning user experience will be improved.
If you’d like to know more about web 3.0, we wrote a blog explaining what it is, the perks and what the potential here is, click to read the blog.
The enhanced security features that will be enabled by blockchain technology will help publishers be free from taking any responsibility to ensure user safety. Multiple layers of security, through data anonymization, end-to-end encryption, requests for permission to access data will be inbuilt to the platform thereby allowing a wholly secure space for exchange of data. Users will be able to access/interact with data in a safe and convenient manner without having to worry about online threats helping most publishers to have a better brand image as well.
This gives room for publishers to divert their attention on the more advanced tasks as Web 3.0 architecture will take care of the other redundancies.
As the primary focus of web3 is to decentralize, it could make regulatory oversight complicated. Governments could exclude ownerships of certain digital properties to framing rules within the legal framework. This could further complicate the internet penetrability and availability in countries.
The present social media or public information will also face challenges to curb the spread of misinformation which will look into cyber crime or hate speech. Gray areas or topics will be harder to comment on or publish from an accountability perspective which could lead to massive gaps of information distribution to the public.
Web 3 has been a fun news for all the cryptocurrency enthusiasts. However the skepticism exists parallel-y around the use of the same with the varying and unreliable information around blockchain. Currently, entities in the startup ecosystem including Persistence, Polygon, Vauld, Biconomy and EPNS are working towards increasing the adoption of Web 3.0. Only time will tell how much publishers will have to benefit from or work on an incline due to web3 but it is safe to say that user experience should be on everyone’s radar at the moment.