What is web 3.0 ? DAOS And it's Business Importance
Web 3 Concept - The Internet of Future
Nobody has control over the web. 1. As long as you have an Internet connection, you can access web pages to read, browse, and purchase products. Web 1 followed a standard, global and open protocol: HTTP.
But the user experience was limited. We never created blog/contents our self. That privilege belonged to a few: programmers. On Web 1, most of us were simply consumers of content created by others.
This web version was until 2004. Then came Facebook, and with it, the social media revolution or what became known as Web 2, Facebook, Twitter, and YouTube allowed anyone to create content, rather than simply browse. No coding skills required. People can write posts, upload images, share and like videos, and connect with other people.
Web 2 changed our lives in many good ways, it created many problems. Instead of a free and open web, the Internet is now fully controlled by a few companies. Financial inequality grew as the owners of the Web2 platform, Zuckerberg and his friends, became the big winners. Where we who browses or search for something are unpaid.
On Web 2, you don't know where your private information is leaked or what others are doing with it. The platform owners collect and sell our data to various companies, sometimes without our consent. And what this deal full of sweetness gave? Nothing concrete more than personalized ads and recommendations.
Users who were having authorities they have serious risk on web 2.0 Platform. Governments can track users and block entire websites to remove unwanted thoughts and ideas.
Also there's Censorship issues. We have seen how web2 platforms suspend accounts, remove posts and ban users simply because their opinions do not align with the "policy" of the platform.
To solve these and other problems, some entrepreneurs and engineers are building the next generation of the Web: Web 3.
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| BOOK YOU CAN READ ON WEB 3.0 |
WEB 3.0 DEFINITION
Applications built with the Web3 protocol – known as daps (decentralized apps) – cannot be ported over by entities, corporations or governments. Anyone running a computer can participate in running the network.
In Web3, users and creators alike can earn money and earn a decent living. This is possible because Dapps and other Web3 services are powered by cryptocurrency tokens. The more you participate, the more tokens you will accumulate. The tokens you earn will appreciate.
In today's business world, most of us cannot invest in start-ups and start-ups ventures because we do not have enough capital or we live in the wrong countries – think Tunisia, Pakistan, and so on. Web 3 breaks this inequality. Here you can do things, earn from anywhere, can invest in metaverse Projects as Web 3 is for everyone who is a "skin in the game".
Let's Recap:
Web 1: Read-only but open to all.
Web 2: You can read and create, but it's centralized. You are not the owner.
Web 3: The best of two worlds. It is decentralized and open. Browse, create and create your own. In Web 3, you are the owner of your data. You can even pay to lease it. This level of control is possible because of digital private keys. Your data is the equivalent of a digital safe deposit. You have the key to open the safe.
Web3 applications are built with open-source software. Open-source means that anyone can access, read, edit and improve the code. This transparency is in contrast to software manufactured by Web 2 companies.
Illustrate the difference between open-source and corporate software in the form of domestic vegetables versus processed food. One food you know everything about, another full of unknown chemicals.
Open-source is not used by many companies which was the problem and will be solved. In that case, another engineer can simply reuse that code, improve it, or modify it for their individual use case.
There's another powerful feature of open-source: composability. Entrepreneurs and programmers will never need to build applications from scratch.
Composability is a powerful concept, not only in open-source but in creative endeavours of all kinds.
They have to vote and decide how to take the story forward. Results which will come will rock.
We know how difficult it is for talented people to monetize their passion. Scientists are short of funds. Artists do not sell. Web 3 will replace that. whatever that passion is the world will get money on that.
First, creative people get paid what they deserve. Second, many people are driven to follow their passions rather than give up on their dreams. As a result, there will be an explosion of smart people doing creative work.
Products manufactured with the Web3 protocol will not require any marketing. Not everyone can earn but the marketers only.
The most powerful feature of Web 3 is DAO (Decentralized Autonomous Organization). Instead of restricting power to a few people, everyone can vote on decisions.
DAOs
DAOs are more transparent than traditional organizations because all funding, decision making and transactions remain open and in a public database. But, the balance sheet of a DAO is available at any time - for every single transaction. These features make the DAO corruption-proof.
We experiment, permutate and improve the way we lead rapidly. As a leader, you will have the opportunity to observe and study the DAO. Then, steal the best decision-making protocols and implement them across your organization.
Will a DAO lead to risky and bold ideas like the iPhone, SpaceX, or psychedelics research? We must address these questions and challenges to move forward with a Web 3 that works for all.
At the moment, Web2 companies have a huge advantage. With their huge earnings, billions of users, and state-of-the-art infrastructure, they still outperform any competition. Also, don't expect corporations to sit idle while Web 3 destroys their centralized empires.
On paper, Web 3 is the winner by design. I am talking to programmers, entrepreneurs, investors, scientists and politicians. Then the public will follow.
Web3 is decentralized, community-driven, secure and private. The quality and reach of its products and services will be similar to what we've seen in Web 2. In Web 3, our exploit is turned off; Everyone wins. So, sooner or later, you and I, and everyone else, will naturally abandon today's web for a better web.
