TwoCents | My professor asked, "Albert how would you explain Web 3.0?"

Web 3.0 like Web 2.0 and Web 1.0 are just buzzwords that describe the phases of the Internet or the World Wide Web. In Web 1.0, information was largely static if you were to create a website on the Internet, the web developer would type your content into the code, and put it on a server somewhere and someone could read that information but it was the web developer, or you the owner of the website that was creating that content for other people to read and consume. In web2.0, the web became much more dynamic whereby websites tend to have databases. They have more sophistication, so a lot of website content today comes from the users. So, if you think of any social media site example Linkedin, it’s not the owners of the site that are creating most of the content, it’s you and I, the users of the site. But in Web 2.0 everything is very centralized whether your Twitter or Facebook, all that data is stored centrally on those company servers and we don’t own our data. So, web 3.0 so to speak is about transitioning away potentially from that very centralized model to one that’s more distributed where the data that you and I are creating and consuming is distributed over multiple servers over a technique called the blockchain. In sum, in Web 2.0 we have services such as Facebook, Instagram, Twitter, etc., on the Internet and we use them for free. However, we don't own the data in Web 2.0 and companies that own the services make money from our data. The advantage of Web 3.0 is that you own your data and Web 3.0 has the potential to distribute wealth on the Internet. For instance, if a company wants to share my data to make money like from advertisers, they should also share the profit with me. Right, because they are using my data to make money from advertisers. Thank you for reading!

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