The third generation of the internet now appears closer to becoming a reality. It would put control of its content into the hands of users rather than a few tech giants that now decide how the online experience should affect everyone’s lives. Centralization is what attracted most people to the internet and helped to create its current infrastructure. Web 3.0 seeks to shift the influence of big tech and put the internet into the control of its users.
As the internet moves into this unknown territory, there will most likely be a transition period of several years from the current Web 2.0 to the wide-scale adoption of Web 3.0. However, with the quick evolution of technologies on which Web 3.0 will be based, it may take less time to significantly impact how people use the internet. The new internet will also help accelerate the sports industry to new levels and even change the way fans seek Super Bowl odds to bet on the big game.
How Will It Work?
To understand how Web 3.0 will function, it’s important to understand the internet’s evolution. The first version of the world wide web started in the 1990s and was nothing but various homepages and links to other sites. There was no interaction involved, with users limited to reading content and publishing new content for other users to read.
Web 2.0 came to life in 2004 and is known as the ‘read-write’ version of the web. Users can read and publish content on blogs and internet forums. Companies went from providing content to users to establishing platforms to share content and interact with others, just as you would when discussing Super Bowl lines.
As more people started to use it, a few big tech companies began to control most of the traffic and turned it into revenue driven by advertising. However, users can still create content without seeing much benefit or owning most of the information.
Web 3.0 will be driven by artificial intelligence (AI) and machine learning (ML) using blockchain technology, with users controlling their own personal content and data. People will no longer have to depend on third parties and can trade or sell any data they own without risking privacy. While the technology is still young, huge strides are made to improve it every year.
The key will be the ability to digitize assets using NFTs, which are units of data that represent assets such as avatars or digital trading cards that users can own and monetize. Users can also log onto a website without being concerned about their identity being tracked by big tech companies or other users.
The Benefits of Web 3.0
There are many advantages of Web 3.0 as opposed to the current version. It will be safer with more transparency and will allow users to surf more efficiently while providing the most advanced data encryption making it impossible for big tech companies to use anyone’s personal information without their permission. This gives users the ultimate control over their information while ensuring their privacy.
Since the blockchain network is open to all users, Web 3.0 will allow them to create their own programs and engage with the network. As a result, people will no longer need to have separate profiles for different platforms while maintaining control of their personal data. Additionally, no access will be available to user data without their permission, which gives them the freedom to share and sell data to various brands and advertisers.
Web 3.0 will use AI and machine learning to allow computers to understand not only information but also its meaning. It will teach itself what the user is interested in, like a bet on Super Bowl matchups, and help find data faster while better understanding the relationship among different things.
Technology such as expert.ai is helping to make this possible. Because understanding language dominates so many characteristics of the web, making language processing one of the main components of Web 3.0 gives it unlimited possibilities.
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