The Rise of Web 3.0: Enhancing Organisational Preparedness

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How enhanced is Web 3.0 from Web 1.0 and Web 2.0? Each web evolution has come with new tools, technologies and techniques to improve user experience. And with each evolution, organisations have geared themselves up to develop businesses and offer high-quality, competitive services to the customers.

Let's understand the journey from Web 1.0 to Web 3.0.

First, there was Web 1.0!

Web 1.0 refers to the earliest version of the internet. It started as a version of hyperlinked information system. The term is used for the first stage of the emerging World Wide Web revolution. The first generation of the World Wide Web did not allow advertisements and provided one-way communication. It is also known as the static web because it was designed with static content and scarcity or lack of interactivity and proprietary web applications. As Web 1.0 offers unidirectional communication, the users/consumers were considered to be readers and a few content creators.

Followed by Web 2.0! 

While Web 1.0 is static and not interactive with limited writers & readers, Web 2.0 is collaborative with high user-generated content. Web 2.0 experienced the advancement in technology and offers a richer user experience. It does not have any modification to the technical specification of Web 1.0 but refers to modifications in the way web pages are used and designed. Interaction and collaboration are allowed in Web 2.0 with mass participation and multiple creators. Web 2.0 provides the backbone to many websites that have developed APIs, wide users and dynamic content. Also called a participative social web, Web 2.0 contains various tools and technologies such as podcasting, blogging, social networking, social bookmarking, tagging etc. for people to share their opinions via evaluation and commenting

The Rise of Web 3.0!

Web 3.0 or the third version of the internet refers to the evolution of web utility, interactivity and collaboration. It is developed on the overarching foundation of increased privacy, greater decentralisation and user sovereignty.

The transition from Web 2.0 to Web 3.0 is expected to be beneficial because it is built of the latest technologies like AI, Blockchain to decentralise control over the content. The future of Web 3.0 indicates an internet revolution with the availability of universal applications, read, used and consumed by a large number of devices and software types. This will change how users and corporations engage in business.

What is the impact of Web 3.0 on cybersecurity and privacy? 

In the age of the decentralised web, data will be solely in the hands of its rightful owners. Distributed data would not be easy to gather for a single person, owing to data anonymisation, end-to-end encryption and periodic requests for permission to access data being inbuilt into the design. This will reduce the chances of a breach.

Top 5 features of Web 3.0

  • Semantic Web
  • Artificial Intelligence
  • 3D Graphics
  • Connectivity
  • Ubiquity

According to new research from the US India Strategic Partnership Forum (USISPF) and digital currency exchange CrossTower, if implemented at a large scale, Web 3.0 has the potential to contribute US$ 1.1 trillion to the GDP by 2031.

Organisations, businesses, regulators, customers have started rethinking cybersecurity issues and policies to keep pace with the emerging Web 3.0.

How can organisations prepare for Web 3.0? 

Web 3.0 will offer enhanced security as the platform will be built on blockchain technology. This will enable businesses to secure customer data without any additional cybersecurity effort.

This will reduce cyber breaches and businesses will have the scope to improve customer trust and loyalty with Web 3.0

Due to the lack of central control and access to data in 3.0, there will be changes in privacy laws and regulations. Organisations will have to stay updated with the latest information and regulations to conduct business efficiently.

Organisations will have a plethora of opportunities to scale innovations and entrepreneurial initiatives, as Web 3.0 offers advanced technologies and tools that can make workflows more efficient.

Web 3.0 will transform industries and make organisations reshape their strategies. It will provide new ways to organise and collect data. Are organisations ready for the revolution called Web 3.0?