The new Silicon Valley craze web3 (Or Web 3.0). The past year has been crucial for transforming what was initially an idea in an industry capable of moving billions of dollars.
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From January to November 2021, the industry attracted 27 30 billion in venture capital for 1,278 businesses in the region, according to data from research firm PitchBook.
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But, finally, what is Web3? And what is the concept behind this new craze in the technology community? Find out more below.
Web 1.0 and Web 2.0
First, the historical context and the first two generations of the Internet need to be clarified. Web 1.0 was marked by the popularity of the browser in the 1990s. Web 2.0 emerged a decade later, with the rapid growth of companies like Google and Microsoft and Facebook. And widespread acceptance of social networks such as Twitter.
In this scenario, entrepreneurs, media and users in the field of centralization of power, control of information and collection of data in the hands of some companies began to question themselves.
For many years, software engineers have been studying centralized Internet options; But now they are taking shape. This was made possible only by the advent of blockchain technology, a complex system of decentralized code that guarantees security for digital transactions. These are blockchain smart deals that support cryptocurrency, decentralized finance and Web 3.0.
What is Web3?
Objectively, Web 3 can be defined as an Internet generation based on blockchain, whose communication network is decentralized and ownerless. Some researchers and entrepreneurs in the field use the term extensively to describe the future vision of the web, in which users regain control of their data and power is not concentrated in the hands of big technology.
A practical example of this decentralization is the sale of NFTs (non-fungible tokens) by artists and musicians directly to their fans without the need for an intermediary platform. These types of operations can already be considered part of Web3, as they are based on blockchain technology – even on payment instruments, which are cryptocurrencies.
Another example is Decentraland, a virtual platform created by DAO (decentralized autonomous body), which has its own virtual currency, MANA. All of these operations are classified as Web3.
Web3: Who will be the owners?
Some critics see the move as a branding exercise designed by technology investors to drive the NFT phenomenon. They also point out that the biggest supporters of Web 3 are those who support Web 2.0. Google itself is one of the largest investors in the new generation of the Internet and has a dedicated team dedicated to research on the subject.
Twitter co-founder Jack Dorsey posted in December 2021 that Web3 was “a centralized organization, just under a different label.” For him, the investing class will own it as usual. His post angered some people, such as Mark Andreessen of venture capital manager Andreessen Horowitz, who blocked him on social networks.
The controversy is as follows: Will the big technologists also own Web3?
It is too early to say, but researchers believe that Web 4.0 will be the age of artificial intelligence, in which all operations of previous generations will be automated. Customer service chatbots will take over the market and be integrated into the Virtual Assistant blockchain platform. It is also called the “symbiotic web” because of the almost boundless interaction between humans and machines.
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