Brave new world of Web 3.0

Web 3.0 is one of the most alluring and mesmerising concepts in new technologies. It has occupied humanity`s minds over the past years and in 2022 it’s still relevant. Vivid discussions about the prospects of Web 3.0 creation, its features and problems took place during the Binance Blockchain Week 2022 in Dubai. Drofa Comms’ team also joined this discussion, listening to such industry representatives as Spartan Group, Tether and WAX, Tea, and Messari.

First of all, it is worth noting that Web 3.0 is a Web 2.0 successor which we use now. Therefore, one of the key topics of the panel discussion was the explanation of how Web 3.0 will differ from its predecessors.

Eric Turner, Director of Research at Messari, mentioned the most fundamental differences: “Decentralisation is above all. Data will no longer be stored on single servers, but distributed among users. Computing will move from data centres to laptops, smartphones and smart gadgets”. He highlighted transparency and freedom as other characteristic features. Thanks to these two properties, Web 3.0 users will publish any content without being censored, and the role of a moderator will be transferred from corporations to the community. At the same time, everyone will be able to thoroughly understand how moderation works and how it influences other users.

Still, on the subject of Web 3.0, the Blockchain Week`s participants also shared their vision of what needs to be done to build a 3.0 network. For example, William Quigley,  Co-founder and CEO of Tether and WAX, spoke about the current readiness of businesses to adapt to the Web 3.0 rules: “Web 3.0 is based on decentralisation, it’s something that doesn’t exist yet. If we think about decentralisation, then we cannot rely only on autonomous systems. Only about 30% of companies can develop Web 3.0. Your project may be decentralised, but you still need to control it. For instance, payments and banking – we need to build all this”.

Looking at the problem from a different angle, Timothy Lewis, CSO of Tea, expressed his opinion on another aspect of the Web 3.0 development: “In addition to an incomplete understanding of what Web 3.0 is, we should remember that there is a problem in the workforce and money. To build a new Web, we lack professional developers and investors who are willing to invest in projects dedicated to Web 3.0”. He also stressed the importance of such events, as they play an important role in spreading information about new developments, allowing attracting investors and telling the world about the need to train new specialists capable of building the future.

Nevertheless, the conference participants are confident that all the tasks and problems facing humanity in the development of Web 3.0 will be solved over time. Not so long ago, we used Web 1.0, and then imperceptibly stepped into the Web 2.0 era. Perhaps the next transition will be smooth and natural for most people. What can be said unequivocally is that the development of the Web 3.0 will not stop and the new world of the Internet is just around the corner.