As we continue to enjoy user-generated content (UGC) and applications enabled by the current Social Web (Web 2.0), we cannot ignore the imminent rise of Web 3.0 (Web3). Dubbed the Semantic Web, Web3 is essentially a decentralized version of Web 2.0 that omits centralized servers and data silos. With a decentralized architecture, Web3 requires no trusted intermediary – meaning that the domain is permissionless and the power of online data management is completely democratized among the users themselves. This upcoming web version is expected to harness advanced technologies such as artificial intelligence (AI), machine learning (ML), and the blockchain to enable and optimize transparent and real-time social connections online. Web3 applications are also expected to compensate users with dual-functioning virtual asset tokens for maintaining their network. These tokens can act as monetary rewards and voting shares that govern the development and even fee structure of Web3 applications.
Full opinion : The promising impact of Web3 on data privacy and security.