Web 3.0 and the future

Web 1.0

If we look back and see the evolution of the Internet, the journey has been fascinating. To me, it all started with the basic principles that the Internet was perhaps designed for. The fundamental Web 1.0 was all about putting information on a platform which could be shared and accessed by all easily. The focus was more on information sharing and accessing that through a network of computers, at your own convenience while enjoying the comforts of your home.

Web 2.0

Then came the Web 2.0 as I see it. It was about transforming that information stream into useful bits that would allow monetary transactions with ease of use. Business houses came in huge numbers and set up businesses under B2B, B2C models. Even governments pitched in with their parts involving participatory governance as well as driving in taxation collections through G2C models. Quality and the power of hardware improved, mobile devices became more stronger and the whole world turned mobile very quickly. Now we cannot imagine businesses without embracing mobile. The millennials turning into the work force grew up into a mobile, always connected world.

However, as is true for any technological progress, the positives are always linked up with the negatives. Security and privacy issues came up with an exponential growth. Hacking and ransom attacks are increasing at the same pace. While moving to cloud models (with variants between on premise, private cloud and public cloud), corporates are worried about data security, consumers are worried about data privacy. Focus on data as a resource has also increased not to just businesses, but even governments and countries as all have realised the power of data in driving revenues and control / governance respectively.

Web 3.0 and the future

Now let's try to put a scenario together - a scenario I envisage to hit us in next 5-10 years time frame:

Jack is graduating from college soon. He attends his classes mainly online and then appears for the final examination from his home at his own convenient time. He becomes a successful graduate and gets his identity created digitally, authenticated by his school and university through blockchain. That becomes his fundamental identity which will grow over years adding categories of professional experiences, personal finance details, government related social security details, even his personal details.

He joins an organisation where the divide between the physical and virtual world is not that much. Not just physical warehouses are mapped digitally, but all offices, stores are also mapped digitally. Very often he attends inhouse as well as meetings with clients virtually, all sitting together in a virtual conference room and takes decisions collectively. Products are despatched on trucks while real time tracking are available on everyone's mobile devices.

By this time, Jack has also started a family and travels often through his autonomous car. Maintenance of the car and other critical devices has become simpler and self driven. Critical components track their lives themselves with self-triggered requests for repair or replacement is made with businesses, backed up through blockchain authenticity and smart rule based contracts. His smart health devices helps monitor critical health parameters linked up with doctors and hospitals. In one instance, his autonomous car even took him to hospital sensing a sudden raise in cardiac beats.

Drone driven deliveries of groceries and other items have been easy and on time. Travelling has reduced resulting in quality time with his family. Entertainment and sporting events has been more enjoyable with a mix of physical and virtual presence augmented by more powerful augmented / virtual reality mechanisms. And all transactions through digital currency ( cryptocurrency, CBDC) has made life easier carrying only his mobile device with very minimal cash inventory.

And Jack continues to live happily ever after.

Web 3.0 is already here

Well, that too me is the Web 3.0 and the future. All the associated technology elements (like blockchain, digital currencies, autonomous vehicles, drones, smart devices, IoT, virtual and augmented reality, metaverse, etc) are already there in different points of their maturity. And probably predicting this future is not difficult.

The future Web 3.0 will transform our lives dramatically and the way we live, the way we work, the way we do transactions will be easier as we go along.