Web 3.0, Web3, and the Evolving Fabric of the Web: Decoding the Buzzwords

Jan 6, 2024

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7 min read

The internet hums with the murmur of “Web 3.0” and “Web3,” swirling with promises of decentralization, artificial intelligence, and a reimagined web landscape. But before we get swept away in the hype, it’s crucial to untangle these terms and understand the distinct visions they represent.

Web3 – Blockchain ownership

When Ethereum enthusiasts whisper “Web3,” they speak of a decentralized web powered by blockchain technology. This Web3 revolution envisions a fairer, more democratic internet, based on the following principles:

Decentralization is king: Web3 emphasizes shifting power away from centralized entities like big tech companies and towards users themselves. This is achieved through technologies like blockchain, where data is distributed across a network and no single entity controls it.
Cryptocurrencies, tokens and NFTs: These act as the lifeblood of Web3 applications, powering both peer-to-peer transactions and digital asset ownership. These digital units not only facilitate seamless value exchange but also enable smart contracts to automate agreements, eliminating the need for intermediaries and creating trustless, self-executing interactions in the Web3 ecosystem.
DApps (Decentralized Applications): These are applications that run on blockchain networks and are not controlled by any single entity. This opens up possibilities for new forms of ownership, governance, and collaboration.

The Spacial Web and the Metaverse

The buzzwords “Metaverse” and “Web3” often swirl together, especially when it comes to owning digital assets in these futuristic playgrounds. But while they can be linked in this vision of ownership, the technological foundations underneath can be vastly different.

We also hear about “The Spacial Web”, a vision unbound from screens, where digital and physical worlds intertwine powered by next-gen technologies such as AR and the Internet of Things. It envisions information layered onto our surroundings, objects imbued with intelligence, and seamless interaction through natural gestures and thoughts. Think hyper-connected cities where buildings communicate, virtual tours transcend screens, and remote collaboration takes on holographic forms. The Spatial Web isn’t just about fancy gadgets; it’s about blurring the lines between the real and the digital, reshaping how we live, work, and connect.

Web3, the Spacial Web and the Metaverse are all different interpretations on the future of the web. However, blockchain choices, protocols, and functionalities – can vary dramatically depending on the architect and the company building the platform. So, remember, while the goal of digital ownership through them might be shared, the technical paths they take can be extremely diverse and fascinating to explore.

Web 3.0 – Marketers’ Playground:

Meanwhile, marketing professionals have seized upon “Web 3.0” (and sometimes mix it with Web3) as a catchy umbrella term for the web’s ongoing evolution. They see it as the natural successor to Web 1.0 (static pages) and Web 2.0 (user-generated content), characterized by:

Data-Driven Applications: Data tagged with meaning for machines to understand, enabling context-aware searches and smarter applications.
Artificial Intelligence: AI as a ubiquitous force, driving everything from personalized recommendations to content creation.
Ubiquitous Connectivity: The internet woven into the fabric of daily life, through wearables, smart homes, and the “Internet of Things.”

From the marketing perspective the web’s story has these chapters:

Chapter 1: Web 1.0 (Read): It was a static library, filled with pages of information you could only read. Think dusty news portals and one-way street websites of the 90’s. You learned, but couldn’t contribute.

Chapter 2: Web 2.0 (Read & Write): Suddenly, the walls came down! Social media and blogs let you read and write, sharing your voice and interacting with others. It was like a bustling town square, buzzing with conversation and collaboration.

Chapter 3: Web 3.0 (Read, Write & Own): Now, imagine owning a piece of the town square. Web 3.0, still being written, empowers you to not just read and write, but also own your data and creations through blockchain technology. It’s like a community-owned city, where everyone has a stake and the possibilities are endless.

This marketing-driven Web 3.0 vision focuses on enhancing user experience and a future of new opportunities, often without dwelling on the underlying technologies.

The Semantic Web – Tim Berners-Lee’s Vision:

Interestingly, the term “Web 3.0” originates from Tim Berners-Lee, the web’s inventor. However, his vision, dubbed the “Semantic Web” and now the project “Solid” differs from the marketing and the blockchain versions. His ongoing project is based on very specific open protocols and technologies he intends to develop with the larger web community, in the same process he did with the original concepts of the open web. He emphasizes:

Machine-readable data: Web content enriched with semantic annotations, allowing machines to interpret meaning and relationships between data points.
Logic and reasoning: Ontologies and rules enabling machines to draw inferences and make meaningful connections.
POD – Personal Online Data stores – The POD may get located within a home, at work, or within a selected POD provider. It should be easy to move data at any time without interruption of services.
Control over data: this decentralized identity platform provides a mechanism for users to own and better control the usage of their data.

Watch Sir Tim Berners-Lee himself explain the differences and try to erase some of the confusion between Web3 from the ethereum folks and his own Solid project (min 4:52)

Beyond the Numbers:

Here’s the crucial part: the web doesn’t have versions. It is NOT like software that gets deployed by a corporation or an open-source community. It’s an ever-evolving continuum, constantly adapting and incorporating new technologies (such as HTML, CSS, JavaScript and many more). Terms like Web3 and Web 3.0 are helpful for discussing evolving trends and concepts, but they can create misleading perceptions of discrete stages.

Understanding the communities behind these terms is equally important. Ethereum developers might not understand the vision of Web 3.0 from the early visionaries of the Web, while marketers might be unaware of the intricacies of blockchain technology.

Wrapping Up:

The next time you hear “Web 3.0” or “Web3,” take a moment to decipher the context. Are they talking about blockchain-powered decentralization, AI-driven user experiences, or Tim Berners-Lee’s semantic vision? By understanding the terminology and the communities behind the words, we can participate in shaping the future of the web in a more informed and meaningful way.

Remember, the web is an ever-changing tapestry, woven from ideas, technologies, and the dreams of its users.

Let’s ensure the threads we add contribute to a future that is open, accessible, and empowers everyone.

Key takeaways:

Web3 and Web 3.0 are a distinct terms with different meanings depending on the context.
Ethereum-focused Web3 emphasizes decentralization, blockchain, and user-owned digital assets.
Metaverse and The Spatial Web are different interpretations of the future of web and rely on different technologies.
Broader marketing related Web 3.0 focuses on ongoing web evolution, user experience, and machine-readable data.
Solid, Tim Berners Lee’s project and vision for the next iteration of the web is NOT the same as Web3.
The web is a continuous evolution, not a series of numbered versions. There is no institution that regularly releases new versions of the web.

To dive deeper:

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Blockchain Cryptocurrency Decentralization Metaverse The Semantic Web Tim Berners Lee