What Factors Could Drive The Mass Adoption Of Using Web3 Internet?

Approximately 5.44 billion people worldwide use the Internet. Despite being the world’s largest and most accessible network, it has experienced little innovation outside of increased speeds or coverage. However, the merging of blockchain technology and the Internet to create Web3 is one of the decade’s most exciting developments.

Barriers Hindering Adoption

Several barriers are hampering the mass adoption of Web3. One challenge we must overcome before Web3 can become mainstream is its complexity. Many people can’t understand how the Internet works, and bringing blockchain technology into the fold further complicates things.

Between 1990 and 1995, Internet users rose from 2.62 million to 39.14 million. However, adoption rates exponentially increased once people started learning about the Internet. Over the next five years, the user count rocketed to 414.04 million, highlighting how fast adoption can occur once people become familiar with a particular technology.

Interoperability

Even developers can struggle to understand Web3 technology, as people create most Decentralized Applications (dApps) using the specialized Solidity coding language. Moreover, many applications only work on a specific network, so it can be difficult for users to switch between various applications or services.

Once developers can achieve interoperability between networks, mass Web3 adoption will be possible. As applications become chain-agnostic and users are no longer required to switch between networks to access certain products, the barrier to entry will be lowered massively, resulting in an influx of users into the Web3 space.

Regulatory Issues

Regulations surrounding cryptocurrency and Web3 are constantly changing and present a significant hurdle preventing the adoption of Web3 technology. Countries cannot agree on how to regulate cryptocurrency, with some regions banning the asset class altogether.

As Web3 utilizes the blockchain and is closely linked to cryptocurrency, changing regulations like the European MiCA framework affect the legality of Web3 applications and the scope of what’s possible. It’s difficult for a technology to become established while its future is in doubt, so regulatory clarity is required before people can use the Web3 Internet en masse.

Factors Driving Web3 Adoption

While the adoption of Web3 is in its early days, demand for the technology is growing daily. As the limits of Web2 become more apparent, people and governments are waking up to the idea of Web3 and the benefits it could bring.

Digital Ownership

There are very few digital items over which we have actual ownership. Our personal data, money, and investments are often in the control of companies or are intangible and unbacked by real-world value. For example, some investment platforms will let you speculate on something like Bitcoin but don’t provide ownership of the underlying asset.

Adopting the Web3 Internet will reshape the meaning of digital ownership by making data verifiable and more tangible. Instead of value being created from thin air, there will be a transparent chain of custody and proof of ownership, benefiting users greatly. Moreover, governments can utilize Web3 to track earnings for tax purposes, incentivizing adoption.

Internet Democratization

In today’s Web2 world, the Internet is dominated by large companies like Google, Amazon, and Meta, which control substantial portions of user data. These companies have been allowed to enjoy massive monetary benefits by selling this data to companies offering a product or service. Unfortunately, the user seldom sees any profits or benefits from their data.

People are becoming unsatisfied with mega corporations reaping billions of dollars in profit from their data, ushering in demand for digital property and data rights. Some Web3 projects, like Brave, are already beginning to tackle this issue by sharing advertising profits with users. As unrest grows and eyes fall on Web3, adoption is bound to increase.

Benefits of the Web3 Internet

Some might wonder why it’s worth the effort to transition from today’s Web2 to tomorrow’s Web3 world. There is a long list of benefits that will only grow more important as our lives become increasingly digital.

Decentralized and Immutable

A notable advantage of Web3 over the traditional Internet is its decentralization. Instead of central authorities (think search engines like Google or websites like Wikipedia) having sway over substantial amounts of information, users are granted more privacy and control over their data.

Because of its decentralization, data existing on the Web3 Internet cannot be easily manipulated or skewed. Moreover, a decentralized network removes a single point of failure and offers greater transparency, accountability, and resistance to censorship. While censorship and information restrictions are typical today, they would be a thing of the past on the Web3 Internet.

User-Centric

Currently, the Internet seems tailored more for businesses and people wishing to promote a service or product than for actual users. Corporate posts designed for Search Engine Optimization (SEO) dominate search results, while helpful information is suppressed.

Web3 adoption represents a shift in focus, taking the spotlight from corporations and giving it back to real users. With the Web3 Internet being better distributed and likely having fewer monopolistic search engines, we could see greater weighting afforded to users with demonstrable experience rather than companies with a well-established name.

Security

Fraudulent crypto exchanges, fake payment transfers, and phishing scams plague the Internet. Unfortunately, little can be done to prevent Internet scams, as it’s easy for a bad actor to mirror a legitimate service. Often, the URL is the only way to differentiate between a real and fake platform, but people can use similar characters to make a phony URL appear correct.

However, with Web3, all data will be easily verifiable and impossible to counterfeit. While people could still replicate the appearance of a real platform, it would be impossible to mirror technical aspects similar to a contract address. All transactions would also be verifiable, making it far more challenging to cash out stolen funds.

tomi — The Future of Web3

One company currently breaking down barriers to mass Web3 adoption and building Web3 infrastructure is tomi. We plan to boost Web3’s adoption while staying true to its core ethos. As such, we’re creating a decentralized Web3 infrastructure that puts focus on the user and gives them better control over their data.

Our mission is to build an alternative Internet that is democratic, decentralized, and driven by the community — everything Web3 should be. To achieve this, we’re working on a suite of Web3-centric tools, including tomi Domains, tomi Browser, tomi Wallet, and tomi DAO.

We aim to align with Web3’s principles and amplify its benefits. Our project will utilize advanced scaling techniques to increase throughput and reduce the gap between blockchains, creating an interoperable Web3 ecosystem and eliminating a significant hurdle to adoption. We plan to grow alongside Web3 and help it to fulfill its full potential.