What is Web 3.0? Will Google, Facebook’s Monopoly Really End?
Web 3.0 has been the talk of the town for some time now. Some say that Web 3.0 will change the way you use the Internet, or some say that Web 3.0 is a metaverse. With the advent of Web 3.0, the Internet will become more decentralized, say many experts. Web 3.0 is being integrated with cryptocurrency and blockchain. But what exactly is Web 3.0?
To understand Web 3.0 technology, let’s start with Web 1.0. The World Wide Web (WWW) was started in 1989. The Internet back then was very different from what it is today. Because back then you only got information on the Internet in text format. Then came Web 2.0. Web 2.0 is the current Internet. It is controlled in a way. We currently search for information on the Internet through Google. But Google is a private company. These companies have user data. So they have more power.
Cryptocurrency Decentralized Currency, Web 3.0 Centralized Internet?
Google can use its search engine to its advantage if it wants to. The company has also been accused of disturbing Google search results for its own benefit. Another example is Meta (formerly Facebook). Meta has several platforms – WhatsApp, Instagram and Facebook are the main ones. The company has been repeatedly accused of manipulating your content if it wants to.
Facebook and Google. Both companies are at the forefront of their respective positions. In a way they have a monopoly. Web 3.0 is the concept to end this monopoly. Web 3.0 will not have a single company, each user will own its own content.
Let us understand with another example. Imagine what you would do if Google stopped working. Since Google is a private company and there is a problem with Google’s servers, the service may be down and the service will be shut down even if Google is hacked. This will not happen in Web 3.0. This is because the concept of Web 3.0 is to decentralize the Internet. It will be based on blockchain. Cryptocurrency is also based on blockchain. This is why cryptocurrency is a decentralized currency. Decentralized currency means your money is not in any bank but in ordinary currency. If your money is in the bank and the bank sinks, sometimes people lose a lot. The chances of fraud are also high.
What will change with Web 3.0?
With the advent of Web 3.0, you will have more power. Your content will be yours and you will receive a token in return. No matter what platform you post your content on, you have the right to that content.
For example, if you share any content on Facebook or YouTube, in a way it becomes theirs. They can use your content in their own way. This will not happen in Web 3.0. No company here decides whether or not to remove your content. Sometimes your content is removed from social media or you can’t post any content.
In Web 3.0 people will control their own data. Because no one company will have data like Web 2.0 here. As with blockchain technology, cryptocurrency accounts will not be with any one company but with people within the blockchain network.
Even in Web 3.0, the data will be in each user’s device, not on a central server like a blockchain. However, it will be encrypted, so no one will know where the user’s data is. In such a scenario, the way some companies have a monopoly on social media and the internet will no longer exist.
Elon Musk’s opinion:
Currently people have different opinions about Web 3.0. Tesla CEO Elon Musk and Twitter founder Jack Dorsey are also not in favor of Web 3.0. Musk says Web 3.0 feels more marketing than it really is. There are other people like this who don’t think it’s real.
In the world of technology, work on Web 3.0 has been going on for days. In a few years, it will be on par with Web 2.0. For the next 10 years, Web 3.0 is expected to replace the old Web 2.0 and completely replace the Internet.
Image credits- google