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Web 3.0 Is Coming, But Not Everyone Will Love It

Go beyond the hype.

Dubbed as the internet of tomorrow, Web 3.0 seems to be the next big thing that's going to change our lives by fundamentally reshaping the internet.

Web 3.0 is an upgrade to the Web, a meta technology for business software, a social movement for open data, and a new generation for artificial intelligence.

Large corporations are usually getting hacked, resulting in the exposure of millions of user data, and a McKinsey report from last year shows that almost all industries have got a trust rate of less than 50 percent.

But the new generation of the web, Web 3.0, could solve some privacy concerns as it features the internet on blockchain technology. Storing any data on blockchain makes that data decentralized, making the company’s data usage transparent, thus protecting it from breaches. However, returning the ownership of their data back to consumers could potentially disrupt the tech industry since tech giants would eventually lose access to the data that initially gave them a boost in an already competitive market.  

Highly advanced technologies that are going to contribute to the evolution of the internet besides blockchain are virtual reality (VR), augmented reality (AR), artificial intelligence (AI), and machine learning (ML). But Tesla and SpaceX CEO Elon Musk and Twitter co-founder Jack Dorsey are against this novel technology.

In a recent interview with The Babylon Bee Musk admitted that he might just be “too old” to understand these new technologies, and asked, “Am I like one of those people who was dismissing the internet [in] ‘95 as some fad or something that’s never going to amount to anything?”. Even so, he pointed out that he was one of the individuals who understood the potential of the internet back in 1995.

Musk focused his criticism of the metaverse on the lack of compelling use-cases and disappointing user experiences. “Sure you can put a TV on your nose. I’m not sure that makes you ‘in the metaverse. I don’t see someone strapping a frigging screen to their face all day and not wanting to ever leave. That seems - no way. I currently am unable to see a compelling metaverse situation” Musk said and added that he thinks we are far from “disappearing” into the metaverse.

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What is your take on the new technologies? 

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