One of the constantly evolving technologies today is the internet which continues to upgrade itself with innovations to cater to the changing requirements of all things digital and Web3.0 is the newest addition.
We began our internet journey with Web 1.0 which was majorly about creating a static experience using content-driven websites that are still in use today. Then came Web 2.0 which added further improvements to the websites created using Web 1.0, while also introducing the world to social media with the cost of centralization.
As the next generation of the internet, Web 3.0 has successfully managed to be the most effective innovation for the internet to date. It is also known to be following the concept of a decentralized web, which is not single-handedly controlled by any government or company. Back in 2014, the founder of Polkadot Gavin Wood, who is also the co-founder of Ethereum, introduced the concept of an online ecosystem that is decentralized relating it to the introduction of Blockchain. Before we get into the nitty-gritty of Web 3.0, let us quickly look into what this new innovation of the Internet means below.
We are all well aware of the importance of the internet today in all our lives for connectivity and interactions around the world. Therefore, the need for constant innovation for technologies like the internet is inevitable. Web 3.0 is the most recent evolution of the internet that offers a combination of both Web1.0 and Web2.0, along with brand-new introductions within this technology that are changing the way the internet works.
This next-generation category of the internet is deeply involved with blockchain technology, artificial intelligence, and machine learning. The main purpose of Web3.0 is to curate more open-minded yet deeply connected and smart web applications and websites that are rooted in a variety of machine-based technologies.
We have already discussed how Web3.0 combines all the top features of Web 1.0 and Web 2.0, along with additional features that make it the best yet. Let us look at some of the top reasons why this decentralized web can be beneficial to businesses.
The biggest advantage and key feature of Web3.0 is complete decentralization. That means, almost all middle parties or intermediaries are no longer a part of the internet equation, removing their control over user-specific data. This elimination of intermediaries reduces the possibility of censorship that can limit the effectiveness of your business advertisements, sales practices, etc., all under the act of Denial of Service attack, and reach your audience easily.
2. Improved Connectivity Of Information And Data
One of the most effective ways to target the right audience for your business or brand is through analysis. Now, with the help of new-age Web3.0, the connectivity of data and information is better than ever before. Moreover, as the majority of the services and products are now, in one way or another, connected to the internet, the data that is available to create a specific user base or derive user characteristics using multiple algorithms has become easier. This allows businesses to conveniently pick on the necessary information that can help them understand their specific customer requirements for better targeting.
3. Increased Browsing Efficiency
Almost every individual today uses search engines to find a particular product or service. Now, given the increased dependency on search engines, it has become highly important to provide customers with the right and most accurate results for their searches. With the help of Web3.0, customers can easily find semantically relevant information in regards to their search requirements to provide a better web browsing experience to anyone, without much hassle. This increases business visibility as well.
4. Better Marketing And Advertising
With the increasing popularity of online sales of products and services, it has become crucial for businesses to know the right kind of audience to target for their products or services. Now, with the help of advanced technologies like artificial intelligence with Web3.0, online ads can be specifically targeted based on the reports, data analysis, and consumers’ statistics and interests to benefit from improved conversion and sales. Therefore, with the help of Web3.0, marketing and advertising can now be more target audience oriented.
5. Improved Customer Support
According to global reports, customers have become the key stakeholders for any business today. Whether it be a basic everyday product or a high-end luxury product, to keep the customers happy, providing them with an improved user experience is the need of the hour. With the help of Web 1.0 and 2.0, the costs incurred by businesses to provide exceptional user experience resulted in a drop in customer service. However, now, with Web3.0, the introduction of chatbots has changed the way customer queries are handled and resolved. This directly increases the customer satisfaction level and provides them with memorable customer service.
Even though most people are still under the assumption that Web3.0 is somewhat difficult to adopt, did you know that you already are actively using a part of Web3.0 in your daily life? Let us look at the common everyday examples of Web3.0 below.
1. Virtual Assistants
One of the most common and popular additions with the introduction of Web3.0 is virtual assistants. Whether it be Amazon’s Alexa or Apple’s personal Siri, these virtual assistants are deeply based on artificial intelligence and other natural language procedures that enable these assistants to understand and fulfill voice commands. Additionally, with each feedback received from an Alexa or Siri user, the algorithm further improves the interactions with newer versions and that makes for the most appropriate example of how this decentralized web is enabling semantically intelligent applications for daily use.
2. Smart Home
Web 3.0 allows data accessibility online from any part of the world through numerous devices in one go. The smart home is another example of Web3.0 that is regularly utilized in multiple houses today. From house air-conditioning and heating controls to controlling other utilities and home security, you can do it all using devices like your mobile phone alone for a more personalized experience. This is all possible due to the ease of connectivity of data online with the help of this new-age Web3.0.
The internet has witnessed multiple evolutions since its inception and is expected to move forward in the same direction to continuously bring about more beneficial web-oriented services to the population. At present, the availability of different data categories along with applications and websites are all creating a web space that needs systematic yet focussed attention. With Web3.0, this is what is offered to the population, without compromising data security.
Moreover, with the help of these innovations of the internet, the management and operational strategies for businesses are rapidly adopting new-age technologies like artificial intelligence, blockchain, and much more, to avail the best benefits, both for the business and its target audience.
Stay tuned to know more about how Web3.0 is the best internet version today in the coming blogs!