New words like blockchain, cryptocurrency and NFTs appeared in the digital world and the overview is quickly lost. The internet is developing rapidly, and new concepts are being implemented, and new ideas are realized all the time. For many, this is happening too fast and this alphabet soup full of technical terms seems incomprehensible and complex at first glance. But since the WEB3 will most likely shape our future, it is important to understand this topic.
We are on the verge of a digital renaissance and should try to participate in it. One thing at a time! First, it is necessary to explain the WEB2 in which we currently find ourselves. Then, the problems of the current web should be presented in order to be able to understand the solution approach of WEB3.
The Internet is broken! This statement is circulating through various forums, is preached by technology luminaries and, on closer inspection, also reveals itself to the layman. WEB2 is characterized by direct social interaction on centralized platforms. Although content is created by users for users, this inevitably happens through so-called middlemen. These middlemen or platforms of big tech companies, such as Google, Facebook and Microsoft, control the majority of today’s data flows. Because of their established image as trustworthy platforms, users are willing to pass on their data to these big companies. However, these companies have power over our data and control what the user gets to see and what happens with the data.
Death to the digital monopolists! These highly centralized services create various monopoles and an imbalance of power. Internet service providers, search engines, e-mail and social media are gaining unattainable size and collecting vast amounts of data. Likewise with the gap between rich and poor, a similar pattern emerges on the web. Power in the digital space is distributed among only a few, large companies. However, this phenomenon of the platform economy must be combated, as this power is abused – for example, censorship, prioritized content, or illegal data brokering for political or marketing purposes.
Power to the People! This is where WEB3 comes into effect. WEB3 counteracts the problems of the current web with the aim of decentralizing the internet and thus eliminating the middlemen, i.e. the big technology companies. But what is the decentralization of the web? Simply put, the users of the internet will be directly connected to each other and this chain of users, applications and servers, will control and trust themselves. It’s the new-found blockchain technology that makes it possible to create this new secure internet, increase data protection and trigger a balance of power. The power should thus slowly flow away from the billionaire companies and towards the users.
Although decentralized systems are always being rigorously criticized and the masses have not yet jumped on the bandwagon of this idea, there is a lot of potential in the aspirations of WEB3. As a web agency in Valais, we are happy to present you the latest trends from the digital world. However, this short article does not fully explain the depth of WEB3. Try to find out for yourself, because WEB3 will come – the only question is when.