Rescuing the Internet and the Promise of Web3
We are moving towards a future where, not just companies, but users themselves will be capable of providing the infrastructure of the web.
In our modern world, the internet is an indispensable tool that we rely upon in almost all aspects of our lives, from banking to shopping to daily communication and navigation. Yet while it has faithfully served us for many years, there’s a problem with the current version. It’s highly centralized and many argue that unless it’s taken back from the hands of Big Tech corporations, we’re in trouble. The story of how we got here is a long and complex one but developers have been working tirelessly towards fixing this issue. They have now signaled the coming of a new age for the internet: Web 3.0
Whether you can remember it or not, the web as you recognize it today has gone through several iterations over the last 30 years since its inception. In the early days of the internet (what is often referred to as Web 1.0) web users could only navigate static pages. Users were limited in their choice of content and unless they possessed sophisticated coding skills, they could not actually put anything on the web.
The internet landscape has changed since then. The version of the web we currently use, termed Web 2.0, is a version that’s slightly less centralized than the first and much more accessible. Web 2.0’s accessibility has enabled an overabundance of start-ups to emerge and birthed new business models. Platforms such as Amazon, Facebook, eBay, Instagram, and YouTube (and many more) have made it possible for users to publish and upload content without knowing a single line of code. Now all of a sudden information sharing has become much easier and cost-efficient.
While this was a major upgrade, ultimately the downside of centralization is that it creates single points of failure that can be hacked or exploited by governments or corporations. As a result, users still do not have full control of their web experience. Although this may not have been the original intention behind the creation of the Internet, the reality is that centralized platforms have effectively begun monopolizing large sections of the web rather than democratizing it for users. Their unique position grants them the power to collect vast reams of data which can then be used for targeted ads and other purposes outside the user’s control.
The next version of the internet (Web 3.0) that entrepreneurs, software engineers, and crypto-enthusiasts alike have been raving about has come about as a result of a growing awareness of the problems of mass centralization. Now, we’re witnessing a shift towards a decentralized network that uses blockchain technology to store data across many globally dispersed computers instead of just one server. Decentralization makes it possible for users to own their own data and share it with others in ways that benefit both parties instead of just giving up ownership rights in exchange for convenience or access to services. In this new paradigm, users will have more leverage and options when it comes to choosing the platforms they engage with. Moreover, in Web 3.0 developers will be incentivized to create more ethical business models as otherwise they will find users migrating to platforms that enable them to keep their data secure and monetize it for themselves.
We are moving towards a future where not just companies but users themselves will be capable of providing the infrastructure of the web. With no single company controlling all of it, there is the promise of a more democratic and open web ensuring better security, more privacy, and more freedom for users.
Tectone23 stands in the middle of this revolution, providing the infrastructure and products that will enable both users and developers to realise the vast potential of Web 3.0. See www.tectone23.com to learn how we are giving you back control of your data and your privacy!Return to Latest News