You may not realize it, but you are already familiar with Web 2.0.
You found our website on the internet, clicked on this article, and now you’re reading it. This makes you a Web 2.0 expert.
The term “Web 2.0” refers to the second generation of the World Wide Web, which is characterized by increased user interactivity and collaboration, as well as the development of new applications and technologies.
Web 3.0 is the next version of the web.
Although it may seem complicated because it introduces new concepts such as cryptocurrency and blockchains, you don’t need to understand every detail to get a grasp on what Web 3.0 is.
Although you may not be aware of how the current web works, you are still able to use it for various tasks such as marketing, buying products, and connecting with your network.
Web 3.0 is the third generation of the internet, where users are in control of their data and how it’s used. In this new era of the internet, marketing experts need to focus on developing strategies that put the user first. What you need to know about Web 3.0 is that it’s the third generation of the internet. In Web 3.0, users are in control of their data and how it’s used. So, as a marketing expert, you need to focus on developing strategies that put the user first.
What is Web 3.0?
Web 3.0 is an improved version of the current web. It is constantly being updated and improved as new technology becomes available.
We’ve gone through three different versions of the internet- Web 1.0, Web 2.0 (which is what you’re using now), and Web 3.0.
Web 1.0 (1991-2004)
Web 1.0 was a simple time. The only thing you could do on a website was read it, there were no login buttons, comments, or sharing. Every page was static, which means it was the digital version of a newspaper.
Since 2010, there has been a shift. Online ads have become more and more prevalent, to the point where it’s hard to find a website that doesn’t have some form of advertising on it. This decade will be remembered as the time when people stopped being able to focus on the content they were reading online, due to the constant barrage of ads. Before 2010, people using the internet were not seen as potential customers for advertising. But now, it’s difficult to find a website that doesn’t have some sort of advertising on it.
The people in the study were just users of the information on the websites they went to. Those websites were difficult to use and too much for our Web 2.0 adjusted eyes.
In 1996, Google ads launched, marking the Internet’s shift from an informational product to a product where people are the product.
Web 2.0 (2004-Present)
Web 2.0 is over 21 years old in the U.S., where the legal age is 21. It’s been with us for some time now and has become the web experience we’re used to. We’ve forgotten about the Web 1.0 days, including the plethora of blue hyperlinks and lack of ads and data collection.
In the original version of the internet, people would go on the web to find information that was already there. Now, the internet gets its information from the people who use it.
- What product are you shopping for, and how likely are you to buy in the next few days?
- Did you forget something in your cart?
- Here’s a discount code to help you finally click the buy button.
This data collection has become the backbone of digital marketing. We use Google and social media ad platforms to target our ideal customers—down to the detail. Before data regulations and privacy concerns started catching momentum, marketers had a seemingly endless stream of information about their customers thanks to these ad platforms. Since data regulations and privacy concerns have caught momentum, marketers no longer have a seemingly endless stream of information about their customers thanks to these ad platforms.
This is what distinguishes Web 2.0 from other versions of the internet: companies collect user data and sell it to advertisers.
The text is saying that the current situation with data privacy is not ideal, as laws are not wholly effective and it can be difficult to understand how to protect one’s data.
We are unaware of the web experience other people are having. Every newsfeed is unique to that user’s interests, revealing different content even if we follow the same people.
As the internet has developed, so have the people using it. More and more people are realizing that they don’t want to be the product, especially if they’re not being paid for the role they play in making huge profits for companies.
This has resulted in the development of Web 3.0, a web where users are in control of their own content.
What Are The Key Features Of Web 3.0?
Web 3.0 is the next stage in the evolution of the internet, where technology – most notably AI and blockchain – are used to create platforms and services that learn and develop faster than people.
Web 3.0 can be thought of as an evolution of the internet, where the focus is on Semantic Web technologies that offer a more intelligent way of organizing, storing, and sharing data.
Web 3.0’s goal is to return users full control of their digital lives, including:
- Identity: Usernames, biographies, status, profile pictures, contact info, etc.
- Digital Rights: Controlling who can license your digital creations
- History: Shopping, traveling, browsing and other activities
- Health: Medical data, visits, prescriptions, etc.
- Targeting: Control over the information advertisers are allowed to use.
? How Does Web 3.0 Work?
The Blockchain is the foundation of Web 3.0. Blockchains are decentralized data storage units that can be used by many different parties. They are the technology behind crypto-currencies and non-fungible tokens.
When a blockchain is decentralized, its data is copied and stored on a large number of computers or servers around the world. This has several advantages, including making the data more secure and transparent. Once data is stored on the blockchain, it cannot be changed or deleted.
In Web 3.0, NFTs are used to authenticate identity and ownership rights to both digital and real-world assets including:
- Identities including Usernames, biographies, status, profile pictures and contact info.
- Digital Rights regarding who can control and/or license your creations.
- Personal history such as shopping, traveling, browsing and other online, digital activities.
- Financial assets, transactions and the use of digital wallets.
- Health information including medical data, visits, prescriptions, and more.
- Educational transcripts making it easier to verify course completions and honors.
- Advertising targeting allows individuals to control the information advertisers can use.
Cryptocurrencies are more important for Web 3.0 transactions than fiat money.
The use of crypto-currencies, such as Ethereum and BitCoin, for NFT transactions allows users to remain anonymous and avoid using banks and credit card companies.
Web 3.0 supporters argue that giving users control over digital assets will enable them to make money from their personal data. For example, digital artists are already creating NFTs (non-fungible tokens) of their work and selling them in NFT marketplaces such as OpenSea, without the need for agents or galleries.
If ownership is shared by a community, it will provide individuals with more motivation to work together to create new organizations and business models. This will give individuals more control over how things work.
Web 3.0 is a vision for a world where organizations operate entirely online, without the need for central control. These organizations would be based on decentralized systems, in which individuals are authenticated by their contributions, rather than by their status within a community.
Web 3.0 will feature smart contracts, which are agreements between parties that don’t require a third-party middleman. This will create more opportunities and make the world a better place.
What Are The Key Web 3.0 Applications?
The Web 3.0 world will be one where decentralized applications function on a peer-to-peer basis, providing services without the need for central platforms. These services will be built on top of blockchain technologies.
Cryptography
The science of data security that uses two keys to encode and decode content, one public and one private.
The secure https: protocol now used by most websites relies on public key cryptography, meaning that the public keys are exchanged between the server and the user’s browser without the user’s knowledge.
The US Government used to heavily restrict the use of cryptography for national security reasons, but most of these restrictions were lifted around the year 2000. About 6 years ago, the move from URLs using the http protocol to https made cryptography an essential part of Web 2.0.
Blockchain
A blockchain can be thought of as a shared and decentralized database that is constantly being updated by a network of computers. The data on a blockchain is permanent and cannot be tampered with.
From the text, we can see that blockchain technology provides a high level of security for transaction ledgers. By recording transactions only once and never deleting or modifying them, it is very difficult for anyone to hack the system or cheat it in any way.
The term “Blockchain” was first used in 1991 by W. Scott Stornetta and Stuart Haber, but it did not become important until Satoshi Nakamoto introduced Bitcoin in 2008. There is still much unknown about Nakamoto, including whether they are one person or a group.
A blockchain serves as a platform for secure applications. The most important are:
Cryptocurrency
Economics experts believe crypto coins have the potential to become a universal currency that can be used by people all over the world. The following is a blockchain application that creates a digital currency, individual units of which are called crypto coins. A crypto coin has a known value and can be exchanged for government-issued currencies (referred to as fiat money). Crypto coins are designed such that they are nearly impossible to counterfeit or double-spend. Economics experts believe crypto coins have the potential to become a universal currency that can be used by people all over the world.
Other popular cryptocurrencies besides BitCoin include Ethereum, Tether, Solana, Polygon, Stellar, and Litecoin.
NFT (Non-Fungible Token)
An NFT can represent any piece of digital content. An NFT serves as an authenticated certificate of ownership of the content and can be “minted” for any digital file that resides on the internet, including:
- Digital artworks and other creative works.
- Documents including legal papers
- Tickets and event passes
- Redeemable coupons for goods and services
- Records of attendance, e.g: school transcripts
The term NFT is typically used to refer to the digital asset, not the token that identifies it.
Smart Contracts
A smart contract is an NFT that contains executable code that can be triggered when related records are added to the blockchain’s ledger. This allows, for example, escrow arrangements to be made without the need for an intermediary such as a bank or law firm.
Ethereum’s smart contract protocols have been adopted by other blockchains since it was the first to add such smart contracts.
Social Tokens
A digital currency given to members of a community as a way to show appreciation for their contributions, like creating content or inviting new members. These “social tokens” act as a status symbol, granting the holder access to exclusive benefits and rewards, like private messaging channels.
Creator Coins
Creator coins work in a similar way to social tokens, but they are usually issued by an individual creator or brand influencer. For example, a book author may give someone a creator coin as a reward for subscribing to their newsletter, writing a review or taking a survey. Creator coins can be used to get early access to, or discounts on, the creator’s future work.
Using the above technologies, new business have sprung up. Some examples are:
- Augur – a prediction market that allows users to bet on anything from elections to sports games.
- Filecoin – a decentralized storage network where people can rent out their hard drive space in exchange for tokens.
- Appy Pie – is an AI-powered platform that allows users to generate digital art from uploaded samples and mint NFTs which can be sold on an NFT marketplace.
- VR Future Genesis – a virtual reality world where Aliens & Droids unite against the mysterious Ancients. The platform is focused on community engagement where VR Future NFT holders are able to win rewards and have voting rights on what content is produced.
Welcome to Web 3.0
Web 3.0 may seem overwhelming at first, but you don’t need to understand all the details of cryptocurrencies, blockchains, and decentralization to use these platforms. Just familiarize yourself with the basic concepts and you’ll be able to use them just fine.
You’ve used a similar approach with Web 2.0. You don’t need to be familiar with all the details about how the internet is transmitted around the globe. You just need to have a basic understanding of what the web is and how to use it.
As Web 3.0 becomes a bigger part of the Internet experience, marketers need one reminder: marketing on Web 3.0 follows the same rules of marketing in newspapers to billboards to websites:
- Know your customer avatar.
- Figure out the After State to write compelling messaging.
- Remove their hesitations by explaining exactly what the product is (ex. what Web 3.0 benefits they’re getting from it).
Having a skill set that can be used in different areas of the web is very beneficial.
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