The Future of the Web and Why You Should Care About the 3.0 Evolution

The Beginning of the Web

In 1990, Tim Berners-Lee finished the World Wide Web protocols and the HTML, HTTP, and URL standards. These would become the frameworks of digital pages that could be accessed in the “Net” or interconnected network of computers or the Internet. Then, in 1991, the first web page was created. These were the beginnings of what we now know as the modern Web.

Below is my rough summary and timeline from Web 1.0 to Web 3.0 and .5 versions in between. I’ve assigned key terms to each version or time range to provide a better picture of that timeline in the Web’s history.

Web 1.0

Key terms: links, portals, early browsers.

This first version is when web pages were static, and information was only for display and consumed with no interaction.

The first graphical web browser, Mosaic, was created in 1993. It made the Internet easily accessible to non-technical users. Netscape Navigator was released the following year in 1994 as Mosaic’s biggest competitor.

Yahoo also launched in 1994 and became one of the most popular web portals or a directory to other websites at the time.

In 1995, AOL (America Online) hit its peak; an early pioneer of the Internet, which provided a dial-up service to get online, a web portal, email, and instant messaging. It also offered a web browser when it purchased Netscape.

Web 1.5

Key terms: webmail, file-sharing, Google, dot-com bubble

I wanted to add a second half to Web 1.0 because I believe it’s this latter half of Web 1.0 where we saw the earliest versions of e-commerce before blowing up in the last part of Web 2.0.

The early commercialization of the Internet started in 1995. eBay and Amazon started that year. GeoCities also launched that allowed anyone to build their own “home” on the web or web page, which I believe was a prelude to MySpace and eventually Facebook and social networks in general.

In 1996, Hotmail became the first web-based email service. Nearly everyone’s free email around this time was a Hotmail account. Later, Yahoo came to challenge that, but Gmail changed the email game forever in 2004.

In 1998, Google’s algorithm started finding web pages for people, revolutionizing how information and websites were discovered online. This started the era of Google’s domination of the Internet arguably until the early 2010s.

In 1999, the free file-sharing Napster launched, which allowed users from around the globe to share their music collection stored in their hard drives. It upended the music industry forever and was the catalyst for future services such as iTunes and then Spotify.

The first version of the PayPal electronic payments system was also launched in 1999.

By the mid to late 90s, the dot-com craze was in full swing. It seemed that any “web company” could instantly raise money from any investor because everyone was jumping on any web bandwagon to get to an IPO. So if you’re a company with a .com address and even just provided an inkling of a plan and vision, investors begged you to take their money. If this seemed unsustainable, you are right.

In 2000, the dot-com bubble burst, and most Internet companies went out of business or crashed. What remained are companies built for the long haul that had strong products, technologies, engineering teams, and solid long-term visions such as Google, Amazon, eBay, and even Yahoo at the time, among others.

Web 2.0

Key terms: web applications, blogs, chat apps, share, Javascript

Web 2.0 fostered the dynamic and interactive Internet. Server-side processing was introduced, and client-side tech such as Javascript became more robust. An example of this was the shift from MapQuest, where you had to print out the map’s directions to Google Maps that became an immersive navigating experience. In addition, users were now interacting with web pages, and interoperability between websites and applications became more common.

Social media also took center stage around this time, with Facebook leading the pack when it launched in 2004. The Web was now a platform, and this breathed in new life to old messaging systems to full-pledge chat platforms such as WhatsApp. Internet forums such as Reddit spread like wildfire in 2005 when Internet users became more social online. User-generated content took off, and WordPress, Blogger, and eventually micro-blogging Twitter came into the scene in 2006. Sharing content via email, share buttons, and links across the web became the norm to build popularity and audiences. Creators were rewarded with more followers if they provided value, and in turn, they made money.

As the Internet infrastructure became more efficient and broadband connections became standard, video content also became more common as YouTube exploded in 2007 when the backbone of the web could handle the streaming bandwidth.

Web 2.5

Key terms: iPhone, smartphones, cloud computing, SaaS, app store, social media, gig economy

Web 2.0 deserves a breakdown to 2.5 because of the iPhone launch in 2007. It has forever changed our world and how we interact with the web and each other. I would add to this the move from companies managing their computer racks in warehouses to leaving it to cloud computing companies such as AWS to handle this for them. This then gave birth to SaaS companies such as Salesforce, focusing on the software and features instead of managing physical hardware.

This Web version ushered in the era of mobile apps or applications and the explosion of social media. Cheaper storage and bandwidth also meant more space for photos which gave birth to Instagram. The gig economy was also born led by AirBnB and then Uber because the majority, at least in the developed world, now had around-the-clock access to the Web on their smartphones. It seemed every company had to have a mobile app or are going mobile by this time because launching your mobile app in the app store somewhat legitimized your startup or company.

Web 3.0

Key terms: decentralization, Bitcoin, blockchain, cryptocurrency, Ethereum, DeFi, NFT

Decentralization is probably the most critical term of Web 3.0. It is the central premise of cryptocurrencies such as Bitcoin and Ethereum and new FinTechs or financial technology companies. It is the idea that no central entity owns the platform or the product. For example, no central banks own Bitcoin. Decentralization gives back the power to the users or consumers. Blockchain is the technology that enables the infrastructure of decentralization. Blockchain acts as a ledger of records for all transactions that happen on a decentralized platform. It is immutable and cannot be changed. It is not governed by a central government but by an independent network of computers that verifies each transaction.

NFTs or non-fungible tokens are an extension of blockchain technology. Non-fungible in simple terms means it is unique and irreplaceable as recorded in the blockchain. It is being used primarily on digital art to prove the one valid owner of the item. Of course, digital art can also be replicated like physical art, but the NFT can ascertain the owner of the original piece.

Closing Thoughts

Why should you care about Web 3.0’s decentralization, Bitcoins and NFTs? I believe it’s because just as the radio, TV, telephone, personal computer, and Internet changed the world, Web 3.0 has also introduced new game and world-changing technology. It is not only fantastic technology, but it has also introduced a new paradigm in the Web.

Imagine money that cannot be withheld from citizens regardless of the situation of one’s economy or country — money that can be used anywhere in the world. And this digital currency can be sent to anyone globally or intergalactically, like how you send email with zero to minimal cost. Imagine an open and decentralized social network that has no central power or executives or CEOs to control or make money from the users but instead, it is the users who have control over how it is run, and it is the users that receive all the pay and benefits. Imagine businesses from opposite corners of the world whose transactions are verified automatically because of smart contracts in the blockchain, which can cut mistakes, corruption, and fraud. And imagine all the data out on the Web about you is owned and controlled by you, and no other entity can profit off your data unless you have given them explicit permission but never given up ownership control. This is true sovereignty for the individual user.

The Web is evolving, but a new revolution is coming into fruition, and the users are taking its power back. Decentralization is just in the beginning stages as momentum for user-sovereign, open, decentralized systems will try to replace Web 2.0 platforms such as Facebook, YouTube, Gmail, PayPal, Amazon, and any centralized or intermediary institutions trying to control online platforms, products, currencies, etc.