The role Web 3.0 will play in our future

LukasRichter

Unlike Web 1.0, Web 2.0 is characterized by user-generated content. There has been a shift from just looking at the content to changing and interacting with the content. However, in Web 2.0, all data is still managed centrally by single companies. Especially in social media this is a big issue since these companies decide how much money content creators will get for their content. During the creation process of the content, its actual quality suffers from the pressure coming from algorithms deciding which content to present to users. In addition, with a few exceptions, Web 2.0 applications and websites are limited to two-dimensional user interfaces and do not allow any actual physical interaction between the user and their content. The data generated by users is statistically, but not intelligently evaluated and analyzed.

Web 3.0 changes all of this as artificial intelligence understands the true meaning of content and learns to understand the thinking processes and interests of users. As is already the case today, these artificial intelligences know what we are searching for before we actually search for it. In Web 3.0, the algorithms behind applications understand the relationships between people, objects, places, events, products, and human behavior.

In addition, Web 3.0 will be based on decentralized systems, so-called blockchains. Among other things, this enables the democratization of the Internet, the decentralization of the financial sector and the shift from bureaucracy to digital solutions. At the same time, this gives users the opportunity to be in control of their own data, as these blockchains, which are accessible to everyone, can, for example, be accessed by several different social networks. Therefore, interaction with other people is no longer tied to certain social networks. As a result, content creators will also be paid fairly for their content again, as the companies no longer make a profit from advertising income, but the users can mutually invest in one another. Instead of the company, it is the users themselves who make profit with their content.

Another possibility is that the websites do not receive money for the implementation of advertisements, but this money goes to the users for viewing the advertisements. The users can then give this money as a tip or donation to their preferred content producers so that they are rewarded fairly for their work and its quality. All these transactions take place with the help of various crypto currencies as a means of payment.

Another change will be three-dimensional interfaces and virtual worlds in which users interact with each other and the content. Within these so-called metaverses, users can have virtual ownership, which will be manifested on a corresponding blockchain. This property can be exchanged, traded, used and virtually consumed in a wide variety of ways within the virtual world.

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