WHAT IS WEB 3.0?

We recently started working on a branding project with a new client and her organization based in the Philippines. They provide virtual hospitality training and certification for students and current industry employees. One of the clients’ requests was that as we develop the brand we consider their plans to use tokens and NFT’s in the future. Ensuring they are set up for a more inclusive virtual experience when WEB 3.0 is fully launched.  

Now I consider myself to be fairly tech savvy – or maybe mechanically inclined is a better way to put it. I’ve never had an issue learning how to use a new device, working on the car or building Ikea furniture. However, when I heard her say Web 3.0 my first thought was…there was a Web 1.0 and 2.0? Needless to say, I needed to do some digging.

Here’s what I found. According to Ethereum, “Web 1.0 occurred roughly between 1990 to 2004. Web 1.0 was mainly static websites and there was close to zero interaction between users - individuals seldom produced content - leading to it being known as the read-only web”. These were the mostly information-based days of the web. Learning communities posted information that was once only found in books or papers and businesses had simple websites to promote their services. 

As we look to 2004 and beyond things on the web started to drastically evolve. I graduated high school in 2004 and had a front seat to witness the change. Myspace launched in late 2003 and The Facebook launched in early 2004 - I still think the Myspace profile song was way better than anything The Facebook was doing at the time. Anyways, this was the start of Web 2.0. According to the Harvard Business Review, “it was an era of user-generated content, or the read/write web. Social media was a key feature, and Facebook, Twitter, and Tumblr came to define the experience of being online”. Harvard Business Journal also explains that Web 2.0 sites like “YouTube, Wikipedia, and Google, along with the ability to comment on content, expanded our ability to watch, learn, search, and communicate”. 

So that takes us to Web 3.0 or what the future of the web is predicted to be like. According to TechTarget “Web 3.0 will have a strong emphasis on decentralized applications and make extensive use of blockchain-based technologies.” So, what does this mean for us as users? By using blockchain-based technologies the web will be a safer place for us to share information, store content, or make transactions. Why is decentralizing the web important? Ethereum explains that “instead of large swaths of the internet being controlled and owned by centralized entities, ownership gets distributed among its builders and users”. Essentially this will give more power to the people and take back some of the power from the big internet conglomerates. Another major difference in Web 3.0 will be the use of native payments or cryptocurrency. Ethereum explains that “Web 2.0’s payment infrastructure relies on banks and payment processors, excluding people without bank accounts or those who happen to live within the borders of the wrong country. Web 3.0 uses tokens to send money directly in the browser and requires no trusted third party”. 

So to sum it up, Web 3.0 will be a more inclusive, less centralized and a safer version of what we currently know as the internet.

Jason SheppardComment