How Web 3.0 Will Change the World: A Look into the Bright Future

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The internet has come a long way since its inception in 1990. In the last few years, there has been an upsurge of new technologies that aim to improve how we use the internet and how it uses us. These newer versions of the Internet are collectively referred to as Web 3.0, or the “next generation Internet”. Whether you refer to it as Web 3.0, or another name — like decentralised web, Internet 3.0, or new internet — this article will explain exactly what this phrase means and why it’s important for anyone who uses the internet regularly.

What is Web 3.0?

Websites, or “apps,” are hosted on web servers — computers that allow other computers (your laptop, your smartphone, etc.) to access them. Web 2.0 refers to the major shift in computing that came with the rise of cloud computing. This change led to a dramatic increase in the number of apps that rely on a centralised server, in which all the data is stored in one place and controlled by a single entity.

Web 3.0 isn’t just a slight evolution of the current state of the web. It’s a fundamental change that will completely transform how we use the internet in almost every way.

The difference between Web 2.0 and Web 3.0 can be broken down like this:

How Will Web 3.0 Change the World?

The internet today is largely run by huge corporations — Google, Amazon, Facebook, Verizon, and others. They host most of the content and are responsible for managing it. Ever noticed that all your emails are stored in Gmail’s servers? Or that your pictures are saved in Facebook’s storage? Yes, that’s because the internet is currently centralised — the data is stored and managed by a single company. Everyone has to log into these services with their usernames and passwords. They’re subject to censorship, hacking, and other dangers. The data is also prone to being misused by the companies running these services — we’ve seen time and time again how companies like Facebook have abused user data for their own gain.

What Does Web 3.0 Mean to You?

Web 3.0 is a different way of using the internet that will benefit everyone — people, businesses, governments, and more. It will allow users to completely control their online data and keep it safe from third-party access, without having to log in to different apps. You can send or receive emails (without any advertisements), chat with people, access online medical resources, stream videos, listen to podcasts, read articles, and a whole lot more, without having to log into a centralised platform.

Blockchain Basics

Blockchain is the underlying technology that powers most of the newer internet models. It is basically a decentralized ledger that stores information about transactions between two parties. Blockchain is a series of computers (or “nodes”) that “talk” to each other and work together to verify transactions.

A blockchain network is like a distributed computer that spans across several computers. Just like a regular network, each computer on the network has a “file server” that allows computers to talk to each other. However, unlike a regular network, the file server on each computer is the same — one computer doesn’t have a different file server than the others. You may ask, “Why don’t they have different file servers?” The answer is simple — that would be redundant. There is no central server that “owns” the entire blockchain network — it has no “owner.”

The Impact of Blockchain

To understand why blockchain technology is so important, you have to understand how it’s likely to impact several different industries.

Healthcare: The healthcare industry can benefit immensely from blockchain technology. Blockchain can help in reducing medical errors, ensuring medical records are accessible to patients and doctors alike, and eliminating insurance fraud.

Retail: Blockchain technology has the potential to disrupt the retail industry by reducing costs and increasing efficiency.

Finance: Blockchain can help financial institutions to comply with regulatory requirements and minimize fraud.

Energy: Blockchain technology can help the energy industry to increase the adoption of renewable energy sources and reduce carbon emissions.

Education: Blockchain can assist in the digitization of education and improve the quality of teaching and learning.

Government: Blockchain can help governments to improve their operations by providing transparency and reducing corruption.

Conclusion

The internet has come a long way since its inception in 1990. In the last few years, there has been an upsurge of new technologies that aim to improve how we use the internet and how it uses us. These newer versions of the Internet are collectively referred to as Web 3.0, or the “next generation Internet”.

Web 3.0 is a different way of using the internet that will benefit everyone — people, businesses, governments, and more. It will allow users to completely control their online data and keep it safe from third-party access, without having to log in to different apps. HapPhi is connecting the real world to web 3.0.

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