I’ve been reading a bit about Web 3.0. In short, it will resolve issues that we currently have in Web 2.0 which are privacy, security, investments, centralization, payments, and more.
The problem is that it is going against every current tech giant and also controlling government in the world. If data is not centralized, this means that data will be much harder to gather. Thus means much harder to sell or use it against certain individuals (or even parties).
This could mean that companies like Google, Facebook, TikTok, and others will lose significant internet dominance if Web 3.0 is adopted. Data will be decentralized and thus will be harder for them to run personalized ads, which is their biggest driving revenue.
Then the entertainment platforms will have a much harder time controlling consumers and creators. Creators won’t have to be paid by the platform, and consumers thus don’t have to subscribe (or donate) using the platform. Consumers can pay the creators directly with the use of tokens which gets rid of the middleman which is usually the platform.
All these are examples that are beneficial for individuals, but it goes against the biggest organizations in the world. This means that when they realize the significance of this technology being adopted, they will adapt or push against it.
Nobody wants to lose control of their power, but that’s where the internet is headed. They can only prolong it as much as possible.
I believe that Web 3.0 is indeed the future, but won’t be anytime soon.