Web 3.0

Web 3.0 Ownership Economy Crypto Investors Crypto Currency Crypto Platforms Notes

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The Next Evolution of the Internet

For many, Web3 may still sound like some futuristic idea. But it’s simply the evolution of the internet.

Let me explain…

Web1 was the early internet until about 2000. You could use it to read websites… search for information… and buy items on websites like Amazon and eBay.

Web2 is the version you’re using now.

It allows mobile computing… social networks like Facebook and Twitter… and multiplayer games.

It birthed the Big Data industry… machine learning… and search algorithms like you see on Google or Netflix. It also made those companies wealthy… and not their users. They generated billions in revenue by selling your data.

With Web3, you won’t just be able to send data to other people… but also anything of value. More importantly, you will own and control these assets.

All with the click of a mouse. And without the need for a third party.

Anyone using Web3 can make a loan, borrow money, transfer real estate, or even trade fractions of the value of famous paintings.

At its simplest, blockchain technology is an online ledger. And like any other ledger, it tracks transactions.

But the blockchain has three main advantages over traditional internet networks.

It’s decentralized: Data is distributed instead of stored in one location… making blockchains much harder to hack than centralized databases.
It uses state-of-the-art encryption: This makes transactions much safer.
It’s peer-to-peer: This allows individuals to transact with one another without an intermediary – lowering costs.

Because of those advantages, Emergen Research projects the Web3 industry will grow from $3.2 billion today to $81.5 billion by 2030. That’s an over 25-fold increase.

And the World Economic Forum forecasts the Web3 industry will eventually be worth $8.6 trillion.

By comparison, a study by the Internet Association estimated the current value of Web2 at only $2 trillion.

From an investment standpoint, the major difference between Web2 and Web3 is you can actually own a piece of Web3 infrastructure.

Think of it this way…

During the Industrial Revolution, the public couldn’t directly invest in the infrastructure that increased the U.S. gross domestic product (GDP).

I’m talking about the railroads, oil refineries, electric grids, and banking systems.

The men who owned the infrastructure – Vanderbilt, Rockefeller, J.P. Morgan, Edison – sired some of the wealthiest families in history.

And the companies they spawned made early investors incredibly rich.

The same is true of the modern internet.

Its infrastructure – protocols like HTTP and TCP/IP – let users seamlessly send data anywhere in the world.