Web 3.0

  • Web 3.0 is the successor to Web 2.0, which was the successor to Web 1.0!

  • Web 1.0:  "Read Only Web" (1989 to ~2005)

    • Static Web Pages​

    • No user interaction

  • Web 2.0: "Read-Write Web" (~2005 to Present)

    • Interactive​

    • Global sharing of information

    • Information largely privatized and monopolized:  Google, Facebook, YouTube, etc.

  • Web 3.0: "Executable Web" (Timeframe:  Under Development!)

    • ​The world has not yet agreed on a single definition, However, clear front runners in the emergent space are making their mark on the world.
    • The following are some of the definitions of Web-Next, most commonly referred to as Web 3.0!

  1. ​The Internet of Value

    The value exchange takes place with no intermediaries:  no banks, no credit card companies, no 3rd parties;  the exchanges have instant finality, just like the current internet of Information based exchange.

    • Value exchanged at the rate at which Information is currently exchanged​
    • "Value" can refer to almost any asset:  stocks, music, intellectual property, votes, frequent flyer points...the list is almost endless!
  2. Privacy preserving and Decentralized Web

  3. "Web 3.0 enables a future where distributed users and machines are able to interact with data, value and other counterparties via a substrate of peer-to-peer networks without the need for third parties. The result: a composable human-centric & privacy preserving computing fabric for the next wave of the web."​ (Quoted from this medium article:  https://medium.com/fabric-ventures/what-is-web-3-0-why-it-matters-934eb07f3d2b)

  4. Semantic Web​

    • Meaningful connections between pieces of data​

    • Data, Meta-data and relationships described in terms that machines can "understand"

    • Machine Learning and Natural Language Processing applied to reason over data and produce insights in an automated fashion