Protection of privacy for individuals and decentralization are key factors that make web 3.0 the best compared to its previous generations. Another key feature of Web 3.0 is that the present day’s disruptive technology called Blockchain drives it. Due to Blockchain, the third-generation web technology is expected to bring many positive changes to the internet infrastructure. Even, it is transforming the way businesses function online as well.
The Evolution of Web Infrastructure:
The first-generation internet started as a read-only technology. It means that users were able to only browse the information. Also, they were able to only read the information they found online.
- The primary purpose of the first-generation internet was marketing.
- It even intended the expansion of physical stores.
Then, came the second-generation internet called Web 2.0 with read/write functionality. Now, this is the widely used technology where:
- Users can make their own content and can interact in a much deeper capacity with visitors.
- It supports the exponential expansion of social media sites.
- This second-generation web continues to be a guide to the international business model.
Even though web 2.0 is helpful in many ways, the third-generation web 3.0 came with an assurance. It is to protect the personal details of web users.
By safeguarding their personal details, web 3.0 aims at returning power to users.
Now, you might wonder how this new web technology is transforming traditional business models. Here are some ways in which the transformation happens:
Web 3.0 and Existing Business Models:
Indeed, the possibility of web 3.0 software is just being explored. However, its potential to disrupt the status quo cannot be questioned. Particularly, the thing that is interesting to many people is how the decentralized nature of web 3.0 is operating traditional sectors. With the help of peer-to-peer distributed platforms, some industries have started to think about varied ways to find their business models. Here are some ways, web 3.0 will impact traditional business models:
Finding Target Customers Online:
Web 3.0 is AI-powered and so it is at times referred to as the semantic web. It means that it can understand the meaning of words. In turn, it can recommend customized content to users. Some businesses use the semantic web these days for describing online content.
As against stuffing keywords into your content to rank on search engines, you can now create content that matches the requirement of your users. In turn, they can find it easy to spot your products and services online.
Digital Payments Made Easy:
With web 3.0, it will be possible for your customers to make digital payments within their browsers. An excellent example is the Brave Browser. The good thing about this browser is that it brings a quick ad-free browsing experience to users. It even safeguards its users against intrusive advertisements and web services that gather the personal data of visitors.
Above all, this browser utilizes Basic Attention Tokens, otherwise called BAT. These tokens get their value from cyber-currency. They will be allocated on the basis of time spent viewing ads and user attention. Users agreeing to get ads will receive these digital currencies. They can pass these tokens to publishers to support their websites.
Conclusion:
These are just a few examples of how web 3.0 is transforming traditional business models. It can do more like better customer experience and simplified login experience to name a few.
