The media is flooded with stories about augmented reality (AR), artificial intelligence (AI), cryptocurrencies, and the metaverse. These emerging technologies are changing the world as we know it, blurring the line between digital and physical spaces.
For example, manufacturing companies are leveraging augmented reality to boost workers’ performance and productivity. NASA, General Motors, and other organizations are creating virtual replicas of objects and systems, while some countries are building “digital twins” of cities and places. Three-dimensional (3D) holograms, a form of augmented reality, are now being used for surgical planning and guidance, leading to better outcomes.
This next-generation technology is a core component of Web 3.0., or the Semantic Web. Ethereum co-founder Gavin Wood came up with the term “Web 3.0” in 2014, describing it as a decentralized version of the internet.
“Web 3.0 is really sort of an alternative vision of the web, where the services that we use are not hosted by a single service provider company, but rather they’re sort of purely algorithmic things that are, in some sense, hosted by everybody,” said Wood in an interview with CNBC.
This online ecosystem could give users more control over their data, boost financial inclusion, and create opportunities for small- and medium-sized businesses (SMBs).
Web 2.0 vs. Web 3.0: What’s the Difference?
The Semantic Web is a big step forward compared to Web 2.0., or the internet as we know it today.
Web 2.0, or the read-write web, can be described as a collaborative medium that relies on social media, apps, wikis, blogs, and so on. Basically, it’s characterized by interactivity. This version of the internet allows users to create and share content rather than just read what’s already there.
Web 1.0, by comparison, was the “read-only” web. People were able to browse content online, install apps, and bookmark web pages, but they couldn’t publish content themselves and interact with each other on websites.
Things changed in the early 2000s when Web 2.0, or the social web, started to gain traction.
Its popularity was driven by the rise of mobile apps, social networking sites, hosted services, web builders, and other services. This new era of the internet enabled users to share information in real-time, interact with each other, contribute to open-source projects, and find website design inspiration.
However, Web 2.0 is largely centralized, meaning that a few big companies have full control over it. WhatsApp, Twitter, Instagram, YouTube, Netflix, and other apps are all controlled by corporations — and so is your data. We’ve all heard stories of content creators who got banned from YouTube, Google AdSense, PayPal, or other platforms without being able to do anything about it.
Web 3.0. platforms, on the other hand, are powered by decentralized technologies, giving more decision-making power to the end user.
This online ecosystem could be described as a read-write-own version of the web, one that allows for full ownership of your digital assets. Users can interact and share information, manage their digital identity, and conduct business online without a centralized authority.
How Web 3.0. Is Powering a New Generation of Websites
Not surprisingly, Web 3.0. will, amongst other changes, impact the way we build websites, software programs, and apps.
In this digital era, anyone can create a website
without writing code. Web 3.0. will take things to a whole new level, allowing users to build custom sites on the public blockchain. A good example is ICME, a website builder that lets you create decentralized blogs, apps, and sites, such as NFT marketplaces.
The websites built on Web 3.0. are faster, more secure, and easier to use than standard sites. On top of that, they’re highly interactive and involve lower costs. This option also allows for user anonymity, making it harder for hackers to steal your data.
If you’re looking for website design inspiration, head over to Steemit, Doge Art Club, Audius, Foundation, or Ledger. Most platforms feature animated visuals, stunning illustrations, gradients, accessible text, interactive pages, and other elements inspired by the latest Web 3.0. design trends.
Another example is Secretum, an app that enables users to trade NFTs and cryptocurrencies. The platform has all sorts of cool features, from self-destructing messages to built-in encryption and anonymous registration. Unlike Signal, Telegram, and other apps, it’s fully decentralized and won’t share your data with a parent company or other third parties.
Web 3.0. also makes it easier to create a website or add new features to an existing site.
If, say, you want to launch an NFT marketplace, you can incorporate Web 3.0. into your Wix website for increased privacy and security, eliminating the need to build your site from the ground up.
The Rise of Web 3.0, the Third-Generation Internet
Facebook, Google, AT&T, and other tech giants received a lot of backlash for mishandling user data.
A few years ago, about 87 million Facebook users had their personal information exposed to Cambridge Analytica, a British consulting firm, and used for political advertising. In December 2018, a bug in Google+ exposed more than 52.5 million data records, forcing Google to shut down the social network four months later.
These companies still have control over customer data and the internet as a whole, but the emergence of Web 3.0. is supposed to change that. Proponents say it will improve data security, reduce the need for centralized servers, and enhance the user experience. As this ecosystem evolves, consumers will no longer depend on Google, Amazon, Apple, and other corporations.
Web 3.0. is characterized by decentralization. This emerging technology will use blockchain to increase data privacy and ensure transparency while eliminating the middleman.
For example, Bitcoin enables users to bypass banks and other third parties when paying for goods or sending money. Blockchain can also be used to buy or sell digital assets, monitor supply chains, store sensitive data, or even prevent vote fraud. Plus, blockchain transactions are faster, more secure, and less prone to human error than conventional transactions.
Web 3.0. Trends and Their Impact on Business Development
The third-generation web is still in its infancy, but it could change the world—and the way we do business.
For example, cryptocurrency could eliminate the middleman, such as banks and credit unions, resulting in lower fees. What’s more, it may increase transparency and data security, reduce transaction processing time, and create new revenue streams for SMBs.
AI, on the other hand, enables companies to anticipate customers’ needs and deliver personalized experiences. This technology is a core component of sales and business forecasting, lead scoring, data-driven marketing, process automation, and more. Online retailers, for instance, use AI to make personalized product recommendations, automate customer service, and prevent fraud.
Architects, engineers, and other professionals can now create 3D rendered models of houses, commercial buildings, parks, or entire neighborhoods. Plus, 3D modeling allows companies to test their ideas before investing time and money in new products or processes. If you sell courses online, you may create lessons featuring animated videos, 3D characters, interactive maps, and virtual experiences.
Web 3.0. could also free up employees’ time, reduce time to market, and create new business models. Smart contracts, for instance, enable organizations to execute and manage agreements without the need for brokers and other intermediaries. This technology can automate manual tasks, eliminate human error, and decrease costs, among other perks.
Artists and content creators will benefit from Web 3.0., too. For example, they could turn their work into NFTs (non-fungible tokens) to build new income streams and reach a global market. NFTs also facilitate crowdfunding and allow artists to earn royalties from subsequent sales, leading to higher revenue.
Other emerging technologies, such as the metaverse, low-code and no-code app builders, and Blockchain as a Service (BaaS), will further impact business development, reports GlobeNewswire. By embracing these trends, organizations can become more innovative and remain competitive while keeping the costs low.
Get Your Business Ready for the Future
As you can see, Web 3.0. isn’t just a fad or buzzword. This new era of the internet could disrupt entire industries, changing the way we communicate, work, learn, and do business.
Emerging technologies like AI and VR are already impacting our lives. Soon, we’ll interact in the metaverse, connect on decentralized social networks, and sign smart contracts. Companies big and small must keep abreast of these trends to stay competitive and relevant.
For starters, take the time to learn more about Web 3.0. and its potential impact on your business or industry. Keep an eye on Nike, Pepsi, Adidas, Zara, and other brands that embraced the latest Web. 3.0. Technologies.
Meanwhile, try to optimize your business processes and prepare your staff for the future. The key is to make small but impactful changes, monitor the results, and adjust your approach as needed.
