Not sure about Web 3.0? Here’s the explanation you’ll need

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One of the biggest trends of the next few years is what is called Web3 or Web 3.0. We see more and more signs everywhere that show us that we are beginning to move towards what is supposed to be a more decentralized, more robust, more secure and above all more equitable Internet. However, what is this change and what exactly is it? What does it concretely mean for brands or agencies to operate in the future Web 3.0. More specifically, how is it possible to prepare today and take advantage of this technological revolution?

A bit of history to start

Web 1.0, which is the Internet we knew from the early 1990s until around 2004, was mostly made up of static web pages that we couldn’t really interact with. Then gradually came a whole series of changes and innovations that made it possible to create dynamic, interactive and more collaborative websites with the appearance of smartphones, social networks and the cloud ecosystem.

A whole new industry and business has emerged with web giants such as Google, Facebook, Amazon, Baidu and Tencent: offering new ways to shop, have fun, search and connect. All of these companies helped create what is now called Web 2.0. which is already a fantastic evolution of Web 1.0 and which meets many of our needs today.

However, a real alternative in terms of new technologies appeared with the invention of bitcoin in 2008. It was not until 2013 that we really understood the revolutionary power of blockchain technology. This is where we began to see the first bricks of what will become the basis of a decentralized Internet or Web 3.0 appear step by step.

How Web 3.0 works and what are its implications

So the transition from Web 2.0 to Web 3.0 is quite simple, it is the gradual replacement of different functions and different parts of the Internet by new forms that are decentralized.

Whether for file storage, databases, web servers, web browsers, streaming services, web infrastructure, web applications, domain names, data indexing or connectivity ; each of these parts collectively forming today’s internet, can and probably will be replaced by a decentralized alternative.

For example, in Web 3.0, web servers are replaced by blockchains like Etherium. Traditional client-server architectures are being replaced by decentralized architectures: computer networks that communicate peer-to-peer. File storage is no longer done on Dropbox or Google Drive but on decentralized alternatives like Arweave or Filecoin.

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Video streaming is no longer done with classic CDNs but with blockchains like Theta or Aioz. Finally, the applications we use are no longer Spotify, Twitter or Facebook but decentralized alternatives called dApps, i.e. applications and protocols that run automatically without the need for a trusted intermediary.

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Blockchain and tokens at the heart of this Web 3.0 technological revolution

Using tokens or cryptocurrency as a unit of value for these platforms provides real motivation to participate in platform security and contribute to decisions. Also, the presence of tokens makes it possible to align all the actions and decisions of the participants within the network and to promote its development together.

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Therefore, Web 3.0 is a revolution in the Internet itself but also in the way we use the Internet. So how can we prepare as brands and agencies for this revolution, especially since we’ve seen how Web 3.0 will affect all parts of the Internet?

It is important to ask the above question because there are many ways to prepare for Web 3.0, but with over 10,000 cryptocurrencies/tokens in circulation, it is sometimes difficult to know where to start.

You can start by immersing yourself in what we call Tier 1 blockchains which provide platforms for building the applications of the future. The best known platform is of course Etherium but it is not the only one there are many other players gaining ground such as Solana, Cardano, Avalanche, Fantom and Harmony.

Then you can choose to look into decentralized file storage solutions such as Filecoin Arweave or Siacoin. You can also turn to platforms like Akash, StackOS or Aleph which offer services similar to the current cloud, therefore storage and hosting services but decentralized.

Then, if as I expect we are heading towards an internet that will be multi-blockchain, you can also choose to take an interest in interoperability solutions between different blockchains such as Polkadot, Cosmos and Nervos. You can also choose to look at APIs and data, indexing solutions or information exchange between different blockchains or between the real world and the blockchain world, with projects like the Graph or Chainlink.

You can also choose to take an interest in decentralized infrastructures for video streaming with projects like Thera, AIOZ, or in the field of 5G connectivity with projects like Helium.

All in all, what we need to understand is that there are a large number of industries that are likely to be completely transformed by Web 3.0. The most obvious example is the whole decentralized finance or Defi industry. Defi, NFT, gaming, crypto and metaverse innovations are all examples of Web 3.0 use cases.

All brands have a real interest in exploring the potential of each of these innovations, and it’s my personal opinion: there will be many more to come.

A whole new Internet and a new philosophy

Finally, what I’ve tried to outline here is that Web 3.0 is the move from a closed centralized Internet dominated and controlled by large platforms whose value is owned by corporations to a Decentralized, open, democratically controlled Internet whose value is directly owned by participants on Web 3.0 platforms.

It’s not just a completely different technological architecture, it’s also a completely different philosophical approach that has the potential to solve some of the problems with the Internet today. You could even say that with Web 3.0, we could finally get the Internet the world deserves. It is also the appearance of what is called Internet value, an Internet where one can effectively hold and exchange digital goods but also invest and own part of the value of the system.

What is great is that all these changes are only possible thanks to the invention of several basic bricks (blockchain) which did not exist before and which will allow this internet revolution.

The screenwriter is Ramzi Chaabane, MD of Stink Studios.

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