Last updated on March 8th, 2022 at 10:47 am
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Web 3.0, which is the next phase of the world of the internet, is a technology that will understand and interpret the concept of data by itself. Smart technology leverages the power of artificial intelligence, machine learning, and blockchain to make real-world human communication to the next level.
The decentralised technology will provide a faster way of communication and an improved way of personalised user experience. Blockchain technology will secure user transactions and information safe and secure.
• A shift from older-generation web tools, Web 3.0 combines these tools with cutting edge technologies between AI and blockchain as well as interconnection between users and increased internet usage. In much simpler terms, it is a shift from data collected by tech giants through social networking (Web 2.0) to a decentralized web structure where people control their data. Now the process of content creation and decision-making will involve humans and machines (AI).As Web 2.0 made several billionaires including Facebook’s Mark Zuckerberg, Amazon’s Jeff Bezos and Twitter’s Jack Dorsey, Web 3.0 is another chance for a new world of tech startups to find their way and lead the digital evolution.
• A more decentralized access to the internet, Web 3.0 provides advanced security when it comes to data protection. Using it’s advanced AI, users can now receive the best filtered, unbiased data.
Built with the sole idea of creating an internet that satisfies everyone, peer-to-peer networks, user-controlled data and monetisation act as building blocks for Web3.
Using the new internet, you can now enjoy a more personalised browsing experience that gives you sovereignty over your data and finances creating an overall rich digital experience.
• Open Source: The networks are built from open-source software where an open and accessible community of developers can execute the applications in full view of the world.
Why Does Web 3.0 Matters ?
Richard Murrihead seasoned Web 3.0 tech expert noted that;
- Societies can become more efficient by disintermediating industries, reducing rent-seeking third parties and returning this value directly back to the users and suppliers in a network.
- Organisations can be intrinsically more resilient to change through their new mesh of more adaptable peer-to-peer communication and governance ties between participants.
- Humans, enterprises and machines can share more data with more privacy & security assurances
- We can future-proof entrepreneurial & investment activities by virtually eradicating the platform dependency risks we observe today
- We can own our own data & digital footprints by using provable digital scarcity of data & tokenised digital assets
- Through ‘modern mutual’ ownership and governance of these new decentralised systems of intelligence and sophisticated & dynamic economic incentives, network participants can collaborate to solve previously intractable or ‘thinly spread’ problems
“The forthcoming wave of Web 3.0 goes far beyond the initial use case of cryptocurrencies. Through the richness of interactions now possible and the global scope of counterparties available, Web 3.0 will cryptographically connect data from individuals, corporations and machines, with efficient machine learning algorithms, leading to the rise of fundamentally new markets and associated business models. The result is akin to a “return to the global village” — daily immersion in the human-centric & highly personalised interactions from which we used to benefit, yet now delivered at the global scale of the internet and supporting an ever-increasing myriad of human and machine skills specialisations.”
About The Author
Tony Chimdiuto 
Tony Chimdiuto