We bet you’ve read or heard about Web 3.0 and maybe you’ve been wondering what in the world it is. We’ve come up with a brief breakdown for you.
Perhaps we should start from the very beginning (since it’s a very good place to start 🎶). Web 1.0 was the original World Wide Web of the 1990s as Digital Nomads know it. The OG internet. The originator of the first webpages and their foundations: HTML, URI/URL, and HTTP. As one could imagine, applications were limited but innovation potential was tremendous… [Enter Web 2.0, stage left].
Web 2.0 is how we experience the internet now and what many Digital Natives are accustomed to. Investopedia puts it best,
Web 2.0 refers to a paradigm shift in how the internet is used. Over the past 15 to 20 years, the bland webpages of Web 1.0 have been completely replaced by Web 2.0’s interactivity, social connectivity, and user-generated content. Web 2.0 makes it possible for user-generated content to be viewed by millions of people around the world virtually in an instant; this unparalleled reach has led to an explosion of this type of content in recent years.
In other words, the UX/UI experience has altered dramatically. Web 2.0 has been disruptive and has allowed for massive innovation in the digital economy that influences how we work, what we can buy, how we communicate… and more. Web 2.0 has allowed us to stay in touch with friends halfway across the globe, book rides from our phones, have meetings across time zones, and has ensured that the world is our oyster. Web 2.0 has also brought its fair share of challenges–privacy and security issues most prevalently.
Did you know that humans generate a collective 2.5 quintillion bytes of data per day? Or that since 2013, an average of 3,809,448 records are stolen every day? The statistics are staggering.
This is where Web 3.0 makes its entrance.
As you’ve seen from Web 1.0 and Web 2.0, Web 3.0 is the next iteration of the evolution of the internet. Web 3.0 is built upon the core concepts of decentralization, openness, and greater user utility.”
Our friends at CoinTelegraph explain decentralization and permissionless systems well:
Web 3.0 is a possible future version of the internet based on public blockchains, a record-keeping system best known for facilitating cryptocurrency transactions. The attractiveness of Web 3.0 is that it is decentralized, meaning that rather than consumers accessing the internet through services mediated by companies like Google, Apple or Facebook, individuals, themselves, own and govern sections of the internet.
Web 3.0 doesn't require "permission," which means that central authorities don't get to decide who gets to access what services, nor does it require "trust," meaning that an intermediary isn't necessary for virtual transactions to occur between two or more parties. Because these agencies and intermediaries are doing most of the data collection, Web 3.0 technically protects user privacy better.
In a nutshell, why should you care? Decentralization and permissionless systems give users much greater control over their personal data. Decentralized technology like blockchain technology, coupled with encryption, allows for self-sovereign identity. Specifically, this means that the individual owns and controls their own identity without the intervention of third-party authorities. The digital economy is booming, but so are identity theft, data breaches, and cyber-attacks.
TLDR: Don’t be another statistic. The next iteration of the Web will be in favor of the user. Until then, protect your PII and SSI and follow us for news, tips, and products to ensure you can Thrive in Privacy.