From Web 3.0 to Meta

Web 3.0 is defined as the next stage in the evolution of the Internet, one that takes back the power of the powers that have dominated – Google and AWS to name but two – and puts data and decision-making back between people’s hands. Two keywords define it – decentralized and blockchain.

RubiBlue CEO Chris Ogden

Then there is the concept of metaverse. It’s been around for a while, the room called in the 1992 book Snowfall by Neal Stephenson, but has gained traction thanks to recent announcements from brands like Facebook (now Meta).

These two trends are all about the deep digitization of people, data and experiences, but there is the real question of whether they are actually relevant? Are they even real?

When it comes to Web 3.0, the answer is yes. It is the decentralized web using blockchain technology. You don’t need to know how to use it to benefit from it.

It just means that many of the services and solutions that used to rest in the hands of bigger and bigger companies are now shifting to smaller, secure, privacy-focused companies and solutions. Many factors are driving this change, but one of the most important is giving control of data back to the people who create it.

At present, Web 3.0 is still in its infancy, but it has become increasingly mainstream over the past few years. As NPR pointed out, non-fungible tokens (NFTs), cryptocurrencies and blockchain form some of the foundations of this new web vision, but it is still very loose and vague and will not be defined as a concept until ‘it will not have had time to evolve.

A golden opportunity for businesses

For the company, however, this shiny new frontier – as wild as the West – is an opportunity. What problems does Web 3.0 introduce? What problems can the company solve? What cracks are opening between the services already offered?

Ultimately, while adoption will drive this concept to success, blockchain has immense value to the business on multiple fronts and touchpoints, so leveraging innovation in this space can put the business on a solid base.

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Businesses can take advantage of Web 3.0 because it essentially creates ownership of digital assets, allowing everyone to play fairly and evenly. Large enterprises running on legacy platforms will soon have to adopt this way of thinking or they run the risk of having two web generations behind. Re-innovating is key here, as is keeping an open mind about how this concept will evolve.

Metaverse the opposite of what Web 3.0 aims to achieve

And keeping an open mind is certainly what is required for the Metaverse. On the one hand, this concept is clearly not new and there have been a lot of shifts in thinking and innovation aimed at bringing it to reality.

On the other hand, it smacks quite strongly of privilege and wealth, the opposite of what Web 3.0 aims to achieve. Many rooms have been unpacked, whether or not the metaverse is another haven for wealthy tycoons where they will play while people pay.

Again, it will take time to see which side of the coin this lands on, but companies are in a unique position where they could potentially leverage Web 3.0 ideology to create metaverse solutions that place the confidentiality and the protection of personal data at the heart. of their business and their solutions.

One could potentially temper the other, but now is a good time to innovate in the right space for the business and to create solutions that span both worlds. Solutions that, in a more realistic light, can work even if the Metaverse and Web3 crumble in a heap of hype.

Cathy W. Howerton