Web 3.0 is a worldwide digital factory
Our vision for the future of the Internet
The evolution of the web is based on the user role. The scheme is simple: in Web 1.0, users could only view content, in Web 2.0, which includes social networks, users create content.
Web 3.0 is a revolution, and to understand what it is, let’s look at the scheme from the benefit perspective.
In the 1990s, before the forums and social networks, site owners created useful content and attracted an audience. As a result, they began to receive small advertising revenue. The platform model, where the user created the content, allowed not only to increase revenue but also to reduce costs. Scaling increased revenues even more, while expenses remained the same. Today, each Facebook user brings an advertising revenue of more than $ 20 per year. There are more than two billion active users of the social network.
The user becomes a doer
So why is Web 3.0 a revolution? Because a user who is a source of revenue on the Internet becomes a source of authority.
This does not mean that a user makes any intentional choices or votes for something. The user is a generalized concept. It refers to the behavior of the masses of people on the Internet, their reaction to content, paths, choices depending on the display of the site pages. Recommendation algorithms and advertising technologies are created in order to deduce a user’s intention. Now users access the Internet, which is full of Web 3.0 elements and the Internet adapts accordingly: various services create feeds for user interests, the mobile and desktop versions of browser synchronize information about user path, the suitable advertising displays, and user location is considered. If user experience includes manipulations and inappropriate advertising messages, it is very likely that the user does not stay on the website and bring it revenue.
However, these are still no signs of a revolution. Transformation occurs when the Internet can bring a user an income proportionate to his spending.
Imagine that all the analytics and tracking technologies that serve the advertising industry will be used to evaluate the digital input and reputation of employees. Creating complex digital products will reach a new level: costs, timing, and results will be accurately predicted. Services will be designed like this. An entrepreneur suggests an idea and communicates it to an automated chat-bot. The bot asks a few questions, and then, based on tracking similar projects and portfolios, provides a forecast for the cost, timing, and a list of experts.
It will be beneficial for the user to create a positive digital footprint. Not just a profile in a business social network, but links to existing projects, professional content, and recognition in virtual communities. With no need for authority regulation, the Internet will no longer stay anonymous, because users will be interested in gaining their reputation.
Decentralization matters
What technologies form the basis of Web 3.0 and continue development? Of course, these are AI, Big Data, and Semantic web which are already used in the recommendation and advertising systems. They allow us to analyze user behavior more accurately. Internet of things data enriches user-profiles and consumer habits information. Various personal and transport trackers, smart home systems, Bluetooth beacons in shopping centers allow services to create a comfortable environment for their users and retain the audience.
Decentralized technologies in relation to Web 3.0 allow us to get more information about users and improve their experience of interacting with services. For example, there are startups that adopt decentralized databases to store a user’s medical information, which they can share with institutions and services. Medical organizations will be able to provide better care to patients and add more data to their dossiers in a decentralized registry.
User location logs from various sources collected in the decentralized ledger can also be used by recommendation systems. Some services will help you find fellow travelers, and others will show you that there is a specialized hobby store along the way. There are startups that help users create their digital identity. In much the same way that you use your Facebook account to log in to other sites, you can give them access to your digital identity.
The global digital office will employ individuals based on more comprehensive information than their CV.
Even reviews and recommendations do not provide enough information and can be falsified. But graphs from social connections, contributions to projects, and open portfolios allow you to create an accurate profile of an employee. Such data, stored in a decentralized manner, will construct a digital twin. For example, a designer participates in open and closed projects using digital tools and services in which he is authorized through his decentralized digital identity. His digital profile will include a list of projects automatically generated by these services. Artificial intelligence will be able to evaluate the designer’s distributed portfolio and recommend it to suitable clients.
EVEN team works on a decentralized data source that will allow data owners to manage their digital profiles. This is a distributed database and file storage. A distributed file system is required for storing photos, scanned copies of documents, specialized data formats, and other content.
Such data will not be inputted manually by the user, but it will be generated as a result of their interaction with various services. Currently, such data is stored in silos, for example in social networks and other platforms. As a part of the Web 3.0 concept, data must be stored in decentralized storage to be manageable by its owner.
A user can block access by services to the data or easily transfer data to another service. The services will compete for the ability to access such data, which means that the user experience will improve.
We expect decentralized technologies to expand their scope from financial services to user applications. This will be the transition to Web 3.0.
