How Web3 Is Shaping Up

After a decade of a handful of dominant social media companies trading what are essentially publishing tools in exchange for serving us all an endless deluge of ads, the winds of change are finally blowing—in a few different directions at once.

Content creators (arguably either a special echelon of influencers or anyone who posts online) are slowly siphoning off some of the power that social media companies have wielded for years. Meanwhile, decentralization is sweeping worlds like finance and art, threatening existing orders and pointing toward a future defined by alternative currencies and digital collectibles. Those trends are bound to converge sooner rather than later, and in some corners of the social internet, it’s already beginning to show.

Web 3.0 is generally regarded as the future of the internet. Unlike the Web2 era, ownership and control is decentralized. Web3 enables enhanced privacy, enables boosted transparency, eliminates intermediaries, and facilitates data ownership and digital identity solutions. Unlike Web2 which focuses on improved front-end functionality, Web3 is focused on revolutionizing back-end functionality.

Web3 technology also combines artificial intelligence and machine learning to create a substrate that connects users and machines as well as connect problem owners with problem solvers without the need for a third party. This synergy facilitates a better understanding of human preference and more accurate analysis and results. As such, Web 3.0 goes from technology to disrupting the structure of society. Web 3.0 has the potential to bring radical innovation to all industries.

The adoption of Web 3.0 has so far been driven by crypto-related use cases. This is because the majority of Web3 protocols rely heavily on initial use cases of cryptocurrencies. This has led to the majority of projects focusing on crypto and not on the mainstream adoption of Web3 technology beyond cryptocurrency.

The thing is, decentralized technologies can be used to eliminate value-capturing middlemen. And this could be a boon for different, new economies that have appeared in the twenty-first century. A good example of an economy that could be shaped by Web3 tech is the gig economy, with new technologies that promises the elimination of centralized platforms like Uber and Upwork to give gig workers the chance to earn without lining the pockets of big corporations.

AnyTask is one of the few which aims to enable people living in poverty to access the global digital economy commission-free and bankless.

These days, everyone seems to be abuzz about decentralization. As with any nascent tech trend on the horizon, a lot of jargon gets thrown around. Web3 is the term du jour that captures the revolutionary potential that decentralized networks hold for the future of the Internet.

How Web3 Is Shaping Up

1. Everything is connected.

The IoT is one of the biggest features of Web3.0, which aims to connect everything to the Internet. Currently, not all devices can be connected, but with the development of Web3, this goal will be achieved shortly.

2. It is user-centric.

Web3.0 is more user-centric and excludes a middleman. We don’t have to rely on huge data servers controlled by private companies, under which circumstances, our data will be more secure and private.

3. The graphics used are more realistic.

There is no doubt that today’s web content is more graphic, and people like to see and share videos and images rather than simple text. Soon, augmented reality (AR) and virtual reality (VR) will become popular, and decentralized applications and blockchain games will have more realistic graphics and sensations.

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