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Web 3.0: What is it, and Why does it Matter?

If you’ve spent any time on the internet, you’ve probably heard the term “Web 3.0” thrown around a few times. 

It’s with good reason that you’ve already heard about Web 3.0, as it has launched forward with incredible speed over the past years alongside the evolution of blockchain technology. 

But what exactly is Web 3.0, and why does it matter? In this article, we’ll explore the basics of Web 3.0 and discuss why it has the potential to revolutionise the way we use the internet in the future.

Web 3.0 is here to stay, and here’s why

As already proven over the past years, Web 3.0 could essentially be the next generation of the internet and cannot be overlooked. While the current version of the internet, also known as Web 2.0, is focused on user-generated content and social media, Web 3.0 will be centered around decentralized applications and platforms. 

In other words, Web 3.0 will be a more open, secure, and decentralized version of the Internet that we know today. This will give users more control over their own data and online activities, creating more trust and safety for everyone using the internet.

The fact that Web 3.0 is already looking to be more secure than the current version of the internet is something important that cannot be stressed enough. With Web 2.0, we’ve seen a lot of issues with data breaches, hacking, and other security problems throughout its lifespan.

Source: SkipLevel

This is because most of the data on the current internet is centralized, meaning it is stored on servers controlled by a handful of companies. With Web 3.0, however, data will be stored in a decentralized manner, meaning it will be spread out across a network of nodes instead of being controlled by a single entity. Logically, this will be a harder system for hackers to access to get sensitive information.

One other benefit of Web 3.0 and the technology behind it is how transparency works – something that is more relevant than ever these days. Web 3.0 will be more transparent than the current version of the internet, which is a big reason why many users are already switching over to Web 3.0 browsers and more. 

With Web 2.0, there have always been companies that use our data, and it’s an evolving problem. We often don’t know where our data is being stored, who has access to it, or how it is being used. With Web 3.0, however, everything will be transparent and publicly available for the ones who want to dive into it. This will give users more control over their data and make more informed decisions about how they use the internet.

With those benefits in mind, they might not even be the biggest ones. Perhaps the biggest is the decentralization of Web 3.0. As already mentioned, Web 3.0 won’t be “controlled” by large companies but instead by the entire community using it.

With Web 2.0, we’ve seen a lot of power and control consolidated in the hands of a few large companies. Facebook, Google, Amazon, and other tech giants have a huge amount of influence over our online lives, and most people don’t even realise or think about it. 

With Web 3.0, the power will be more evenly distributed, and make sure that no one has to be paranoid when using it. Decentralized platforms like blockchain-based social networks and marketplaces will allow users to interact with each other directly, without relying on a middleman. This will make the internet more democratic and give users more control over their online experience in yet another way.

So why would Web 3.0 impact the world on a global scale?

So why does Web 3.0 even matter, especially on a global scale? 

Well, for starters, it has the potential to level the playing field for people in developing countries. With Web 2.0, many people in developing countries don’t have access to the same online services and platforms as people in developed countries. 

Source: NPR

This is because the current version of the internet is controlled by a handful of companies that are based in developed countries and earn their money in those places. With Web 3.0, anyone with an internet connection can access decentralized platforms and services. This will help create a more equitable internet that benefits everyone.

Another reason why Web 3.0 matters is that it has the potential to democratise the economy. So far, we’ve seen a lot of power and wealth concentrated in the hands of a few large tech companies, as mentioned earlier. This has created a state where a small number of people control a huge portion of the world’s wealth. Web 3.0 can help change that, but obviously not solve the entire problem. However, decentralized platforms and marketplaces will essentially allow anyone to participate in the economy.


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