What is Web3.0 and How Will It Impact Businesses?

What is Web3.0 and How Will It Impact Businesses?

Like all other aspects of our culture, the internet is subject to evolution. Just think about the first time you joined a social media website or browsed a webpage; the internet was likely a completely different place.

The evolution of the internet takes time and innovation. We have seen many iterations over the years, and many project that the next one is on the horizon. Web3.0 is believed to be the future of the internet, and more than 438 companies have already raised a collective $4.5 billion in funding on Web3.0-based concepts.

But what is Web3.0? How does it stand out from previous iterations of the internet? And how will it impact businesses? We’ll explore this below.

Web1.0 and 2.0: The Internet of the Past and Present

To understand where we’re going, it’s essential to know where we’ve been and where we are now. To break it down simply, Web1.0 is the internet of the past, and Web2.0 is the present internet.

Web1.0 was the first iteration of the internet and used Cascading Tile Sheets (CSS). This web design technique specified how web pages were formatted, including the colors, fonts, and layout of the page.

CSS was useful in allowing web page presentation to be adapted to a variety of devices, including printers and both large and small screens. While advanced for its time, CSS web design lacked the ability to develop highly interactive pages and customize the formats we’re accustomed to today. There was a lack of interactivity and it was used mainly as a content delivery network.

Web2.0 is the internet that most of us are familiar with: social media websites, consistent user engagement, complex website design, and cloud technology. User-generated content and ease of use are primary differentiators for websites on Web2.0. The internet is still dominated mainly by Web2.0 and the interconnected nature of social media.

Web3.0: The Internet of the Future

Web3.0 is also referred to as the semantic web, and its purpose is to make data and information machine-readable. Today, access to the internet isn’t only requested by humans – it’s also accessed by billions of devices through Internet of Things (IoT) technology for personal, commercial, and industrial use.

AI allows data collection to be done automatically. Cloud-based analytics, working with advanced machine learning algorithms, will allow the computer terminal or machine to do the work. Pages won’t only be more relevant, but will also be more intuitive to the needs of the user.

Because it’s powered by AI and extensible through input from countless devices and systems, this version of the internet will rely less on human input and oversight. Tech giants like Google and Meta will have less control, and the internet will be a more democratic place.

Experts believe that information and content will become ubiquitous as more and more applications and devices become reliant upon the web. This explosive proliferation of information and data across the technology will make the internet much more decentralized and open.

Web3 vs. Web3.0

You may have also heard of Web3, which has similarities to Web3.0 but isn’t the same. Web3 is a blockchain-driven internet centered around crypto transactions, tokenization, and blockchain technology.

Like Web3.0, Web3 is a new, decentralized evolution of the internet. However, the principles of each concept are different: Web3.0 is artificial-intelligence-based and centered on merged data, while Web3 focuses on blockchain and decentralization.

The Impact of Web3.0 on Businesses

Now that we’ve explored Web3.0 and how it represents an AI and machine-learning-powered decentralized internet, let’s look at what changes it could bring for businesses:

  • Greater Speed: Web3.0 will use machine learning to deliver businesses faster results for everything they search. There will be a significant decrease in lag time, and businesses can enjoy faster and more reliable internet.
  • Easier Access to Information: Web3.0 will be faster and more accurate. Since the interconnected nature of Web3.0 is powered by artificial intelligence, combining data and finding information will be easier and faster.
  • A New World of Opportunity: Every time there is a technological revolution, a whole new world of opportunity opens up for businesses. With Web3.0, businesses will have new opportunities to learn, innovate, and integrate technology into their processes.

Preparing for the Next Breakthrough, Today

Preparing for the future is vital for any entrepreneur. And one of the best ways to be ready for the next technological breakthrough is to educate yourself today.

The Henry Bernick Entrepreneurship Center (HBEC) is where entrepreneurs can start learning the skills they’ll need for tomorrow, today. If you’re a business owner, contact us to find out how we can help you expand your toolkit and prepare for Web 3.0.

Comments are closed.

Related Posts