Web 3.0

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!

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!
Privacy preserving and Decentralized Web
- A decentralized and fair web/internet where transactions, applications and data are verifiable and secure
- In this web/internet, users control their own data via Self sovereign Identity (SSI) -
"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)
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