“The next iteration of the web being ushered in as we speak leverages blockchain technology, open-source applications, and the decentralization of data and information. Web3 aims to remove control of the web from monopolistic tech companies and return data and content ownership to its users. Also referred to as the “decentralized web” and the “read-write-trust web”.
What is the business impact of WEB3 over Web 2.0?
How will technology businesses transition to, and adopt WEB3, and provide solutions for their clients?
Review of Web2
Businesses build digital presence and sales with worldwide reach through SEO, ads, social sharing, and reviews. With the focus on customer/front-facing interactions, with less emphasis on back-office needs. Web 2.0 adoption quickly accelerated,
Web builder sites to marketplace platforms (eBay, Etsy, Shopify, etc.).
Payments powered by Paypal to merchant accounts and payment processors like Stripe etc.
On-premise servers to cloud services.
Search engines to online review/rating/feedback/sharing.
Business social presence to influencer and brand partnerships.
Web 2.0 also led to the increased investment in technology resources due to,
Lack of technical capabilities.
Web/mobile interoperability.
Business workflows and back-office integration needs, ie. business and process automation.
Scaling and deployment difficulties.
Non-replicable/non-transferable design (UX/UI).
Business continuity risk.
Infosec and data privacy management.
Cyber-crime threats - deep fakes, phishing, ransomware, identity theft
Does WEB3 resolve any of these issues?
What is WEB3?
This has been covered widely, with fervent ICO-like vibes, i.e. community-based, decentralized, interoperability, etc.
The business reality is that WEB3 is,
Not NFTs, crypto, decentralization
🆘 Web3 is going just greatInfosec - Securing business infrastructure against threats.
User protection - data and privacy.
AI/ML — process automation, reducing uncertainty, prediction, and optimization.
Road To Web3
Can businesses use WEB3 technology in day-to-day business?
The generic use cases support new technology implementations to,
Improve business automation.
Implement user privacy protocols.
Adopt digital ID over email identification.
IPFS for secure file storage and accessibility.
Secure identity and immutable ownership.
Establish digital provenance and ownership.
More importantly, can WEB3 address Web 2.0 business issues?
Here are some of our real examples of WEB3 implementations,
Metaverse for event conferences, travel, education, coaching, and training.
NFTs for non-profit 501(c) fundraising.
Blockchain domains implemented on IPFS.
Metamask implementations for privacy and security.
AI/ML in education (the attendance-support-graduation relationship)
Is Your Business Ready For WEB3?
Read our next newsletter - WEB3 Business Readiness
References
Preethi Kasireddy - What do Web 2.0 and Web 3.0 mean? Which one is better?