What was the world like before the internet? Were we better off without cat videos, constant advertising, social media addiction and online shopping?
The truth is, the internet was like a technological nuclear bomb that shook the world in so many ways that were unimaginable. It completely altered global economics and changed the way humans interoperate.
But, just like any new system or arrangement, it was susceptible to unforeseeable flaws and loopholes. Now, as it turns out, the corporate internet giants took advantage of these faults and built systems that were against the interests of the masses who supported them.
They disregarded privacy and security, with personal information trawled into huge centralized data silos ready to be plucked out and used often without knowing consent. By doing so they made the internet unsafe, by designing targets of goldmines for hackers.
The Web 2.0 to 3.0 Paradigm Shift
Thankfully, we now have a successor to fix the flaws in this broken system. This new era of technology is brought about by decentralized and blockchain resources and we are already seeing it take influence. It’s most often identified as the Web 3.0, and it’s shaking business models at their core.
You could think of the Web 3.0 as an advanced distributed network of computing. It’s powered by open-source technologies such as protocols and software platforms. It boast unprecedented levels of security, and most significantly, there are no centralized servers .
Such developments are offers swathes of fertile ground for new opportunities. Not only for developers but for businesses and enterprises alike. The Web 3.0 permits entirely different models to work where users introduce value to the network themselves without the need for middlemen.
He stated that the IOBF’s aim is to “further adoption through understanding the ecosystem; at the moment the industry is extremely diverse, and we want to try and simplify it, such as what we have done with the infographic above.”
Why the Web 3.0 is Beneficial for Business and Consumers
Businesses in the Web 3.0 do not require personal data to operate . Anonymous connections are permitted through cryptographic methods and consumers have the power to retract access any data at any point in time. Information is shared on a case-by-case and permissioned basis in an encrypted way.
In this digital age the issue of intellectual property has become highly controversial. The Web 3.0 offers the perfect solution. By putting work to the blockchain and imposing smart contracts, access can is recorded and permitted on certain parameters. This can ensure payments are made workers are rightly paid for their hard labor.
With the shifting nature and advancement of hacking or fraudulent techniques, businesses need to be permanently conscious of information security. Through the blockchain, messages can be authenticated, signed and verified; thus no fake accounts, no interception, and manipulations made impossible..
Contracts are an essential part of conducting business for legal, financial, practical and employment terms, but they are not always adhered to and can be broken easily. Blockchain technology has given us smart contract capabilities which ensure participated parties execute the terms and conditions. And even for small businesses who don’t have the capital or means to enforce contracts, smart-contracts are cheaper, faster and more efficient. There is no middleman to pay or delay.
All in all, whether you’d like to trade art, energy, or virtual cats; or if you need to transfer capital, store documents, or prove authenticity, blockchain — and its surrounding ecosystem — now provides the best means possible to do that. While many projects will not prosper, a number will go on to play pivotal roles in our lives as we gravitate to the Web 3.0: a fairer and more user-centric model.
Why the Internet of Blockchain Foundation was Born
Blockchain technology holds the solutions for a the flaws in the current system. And a whole new fertile ground for business is being born. But with the benefits of Web 3.0 yet to reach mainstream audiences, we decided in 2017 to establish an organization devoted to its promotion and hastening adoption and its transition. This is how the ‘Internet of Blockchain Foundation’ was born.
The IOBF board contains a list of leading blockchain pioneers and pundits who have invested heavily in visionary projects and ideas that are beneficial to fostering adoption. We aim to increase awareness through various platforms including international events, educational programs and think-tank conferences.
We believe the future of technology depends on blockchain and the principle of decentralization. Join us in our visionary movement to see a fairer world tomorrow.
