Web3: Meet the third generation of the internet

November 15, 2022

Roxanne Denman

Web3 Is the Buzz: No, we didn’t slip on the keyboard.

Imagine a world of increased online safety and ethical targeted user experience. 

Close your eyes. Let your mind wander to the best version of the internet you thought possible. Does it accurately interpret what you put in? Does it understand the message you are trying to convey? Is the content all tailored to you? Do you have control of every single ounce of information you share? Open your eyes. Here we are, at the precipice of the third evolution of the internet. We call it Web 3.0.

What is Web3?

Web3, also known as Web 3.0, is a new iteration of the World Wide Web. The third generation of web technology. Web technology is the foundational layer for how we use the internet, which provides application and website services. To simplify: the internet is on server ownership. Data remains stored on a server, or a cluster of servers, in the cloud. The servers, owned by companies managing data on behalf of users, contain valuable information relating to every individual who has used the internet. Web 3.0 seeks to dissolve this pattern by decentralising the information stored from one server to many decentralised servers.

Why the change?

We consider Web3 a reaction, and sharing your information is the catalyst. Platforms on the internet extract your data and keep it long after you have left their application, website, or social media platform. For example, Facebook owns most of the data on your profile. Even if you decide to delete Facebook, the information you have shared remains stored on Meta’s servers.

Web3 looks to change the narrative of the elements by which we use the internet. Web3 allows us to reimagine the control of who sees our information, where they see it, and how we own and store it. The information we share is valuable to the platforms we use, and we usually release this information once we sign terms of service. With Web3, we will render information to trusted sources instead of platforms and applications pulling this information without our knowledge.  

Web3 is a response to the draining relationship between users and platforms, where users will have the option to choose what they share and what they want to keep private.  

Web1 and Web2 Differences

From 1991 to 2004, the first version of the internet was Web1. Makers of the first generation World Wide Web were mostly web developers building websites in text or static graphic format. The format was considered “read-only”. Interaction on webpages didn’t exist.

Web2 entered the arena around 2005 but was only recognised and registered in 2006. Most of us have only viewed the web in its current version. It is the social web, vastly interactive, and in read-write format. The creation process is open to anyone.

Those of us who have used Web1 and Web2 can be considered lucky. Web2 was a massive progression from web1.0. You can have a thought, create it in text, graphic, or video format, and share it with the rest of the world at the click of a button. Millions of people can see this thought, this art, whatever you consider it to be, come to life. Applications like Facebook, Instagram, Twitter, YouTube, and TikTok are only a few examples of Web 2.0 applications.

But more data, more problems. User information has been exploited. Data breaches have rapidly increased and are a concern of internet users across the globe. We even have websites dedicated to tracing data breaches, informing you when your personal information has been hacked. Users have no control over data stored in Web 2.0. Companies constantly track and retain data and use this without our permission. Enter Web3. 

Web 3 – The New Kid on the Block 

Read. Write Execute. Web3 is the new era of the internet. Web 3.0 will integrate Artificial Intelligence (AI) and Machine Learning (ML), enabling computers to analyse data similarly to humans. The combination of AI and ML will adjust content to make it valuable to a user’s specific needs.

While there are a few distinctions between Web 2 and Web3, decentralisation remains at the heart of the change. Web 3.0 apps are constructed on blockchains. This decentralised network developed by network participants promises to deliver high-quality services to establish a stable, secure decentralised network.

What We Think

Well, the internet got super complicated. In the beginning, we were all just happy to be able to communicate over the internet. We sent someone a message or an email without an error, and we rejoiced. Now we push information in large quantities on numerous platforms and if we experience any errors or hours (moments, seconds?) of inaccessibility, we lose our minds. In these moments, we seem to forget how far communication has come.

How much energy will it take to decentralise the internet? We will have to wait to see. With the world in an energy crisis, we hope that methods to utilise clean energy sources are examined and integrated. If Web3 tags along with good ethics, increased stability, and more data protection, we think it could bring about a welcome change and add value to education marketing.. Web3 entices us with the idea that no person or organisation should be a gatekeeper for transactions. Concentrated power is worrying, and Web3 looks to destabilise the narrative and make peace and security a reality on the World Wide Web.

In education marketing, we welcome change and technological advancements. Having the power to read, write, and execute at the tips of our fingers open up a world of new opportunities for educational institutions and the marketing world. How this will affect marketing strategies is yet to be seen, but the promise of integrating AI and ML may hold promise to adjust content to what the user wants and needs without invading their privacy.

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