The new phase of the internet has a name and surname: Web3. Based on blockchain technology, it was born with the idea of being an “internet of users”. And if Web2 has been the internet of social networks, Web3 will be that of open protocols and decentralized networks managed by the community itself. Because precisely decentralization is the main characteristic of this new Internet. But what is Web3 really?
They assure the IEBS that “Web3, thanks to blockchain, is possibly the most revolutionary technology that we will see at least in the first half of the 21st century in the field of information technologies together with Artificial Intelligence and quantum computing.”
Nothing strange if, for example, we take into account that Web3 allows you to create a distribution chain without intermediaries, so it does not depend on servers . In this way, control of the data is returned to the user and the monopoly on data that until now had by large multinationals such as Facebook or Google disappears. Its open and public nature, therefore, means that there is greater transparency and that users keep their private data individually, not stored on the central servers of a company.
What is Web3: advantages
Thanks to the technology linked to Web3 companies will be able to create their own decentralized ecosystems and connect with their consumers without intermediaries. For organizations that know how to exploit the full potential of technology, the benefits can be many:
Reduce costs. Thanks to decentralization, intermediaries are eliminated and the efficiency of processes is increased. As an example, according to a study by Bain&Company, web3 can reduce banks’ operating costs by 25%.
New sources of income. The sale of unique digital assets or new blockchain-based services are a potential source of income. Of course, the application of advanced technology in blockchain and cryptocurrencies is required.
Greater transparency, which means more confidence on the part of the consumer. This allows increasing customer loyalty and offering more transparent and reliable services.
New business models. If it is possible to take advantage of all the possibilities of new technologies, new business models or new services could be proposed that help increase company profits.
what is web3
6 Web3 trends
New technology companies are emerging in all sectors that present certain solutions that will revolutionize the way we connect with consumers . Thanks to Web3, these types of companies can create disruptive value propositions that have the capacity to completely transform a sector or an industry. But to achieve success, we will have to take into account 6 key trends , in the opinion of Hector Borras (Cyberclik):
Metaverse. The great trend of Web3 is the creation of virtual realities in which to carry out day-to-day activities, ranging from consumption, to social interactions or work meetings.
NFTs. Like cryptocurrencies, NFTs work with blockchain technology, but they are opposite to cryptocurrencies since they are non-fungible goods. In the future it is expected that goods, data or even ideas can be tokenized in Web3.
3D interactive web technology. In Web3, users will be able to recreate with 3D technology what something they want to buy looks like.
Brands as a Service (BaaS). Brands no longer only offer products, but can give consumers personalized service and attention based on their tastes and preferences.
Sustainability with the environment. Although there is still a long way to go, the goal is for Web3 to be a more sustainable website and to reduce the energy used, while creating a technological environment that facilitates the achievement of ecological objectives.
More regulation. Due to its impact and growth, governments and regulatory entities are already beginning to legislate regarding Web3 and the impact it has (and especially will have) on society.
