Web 3.0I started to read about web 3.0 in 2011. At the time, the concept of web 3.0 was more theoretical than practical. Now, however, in 2021, the possibilities of web 3.0 have caught up with the technological capabilities.To learn about web 3.0, let's start with the different iterations of the web.Web 1.0 existed from about 1990-2004. In web 1.0, our interaction with the web was the equivalent of "read-only". There was little interaction for the user. Think of this web version as reading a magazine, only you did it on the web.Web 2.0 was from 2004 to the present. In this iteration of the web, we started to interact with each other more on the web. Think of the platforms that dominate the internet right now and how they encourage this interaction. Facebook, TikTok, Google, Instagram, Twitter, etc. It is not hyperbole to say that web 2.0 ushered in a transformation in almost every aspect of society. Just think about how schools survived the pandemic...through web 2.0 tools.Flaw of Web 2.0
There is, however, one flaw in web 2.0. The problem comes down to one question: who owns the platforms? Companies like Facebook thrive because users (like you and me) interact on a platform they own. The value for these companies is our personal data which they can use and sell. Other than the use of the platform, the business model of web 2.0 is not beneficial to users. Sure there are influencers and companies that have thrived, and make money, but the majority of us have not.Imagine a world where individuals can interact with each other without the need for these platforms. This is where web 3.0 comes in.Web 3.0 is built on blockchain technology (a topic I will talk about next week). The possibilities of the blockchain open up a world of accountable, verifiable, transactions among people that will be revolutionary. You will not need a bank, Spotify, Facebook, or social media apps to act as an intermediary for your interactions and transactions.