Hive as a Web 3.0: Why this is a good thing for the future
Hive as a Web 3.0: Why this is a good thing for the future
It no doubt that Web 3.0 will and has come to stay, breaking and restructuring almost everything we have come to know about the internet. Evidently with the looks and consensus in place even on the hive blockchain, its looking flawless. But what exactly is Web 3.0 and what is its foreseeable future ?
A deep dive into Web 3.0
Web 3.0 represents the next and a more advance iteration of the Internet.
The consensus is banked and linked to the fact that Web 3.0 will give individual users more control and power over data. Technologies like and especially blockchain, artificial intelligence (AI) which incorportates machine learning and the Internet of Things (IoT) will make the web more intuitive and interactive.
You can ask your personal AI assistant to research flights, book a blockchain-verified ticket with digital currency, and summon a self-driving car to take you to the airport, all with voice control or a few taps of your smartphone, or mobile device.
A bit of history
The first web required users to connect through a noisy router and phone line. Taking a look at Companies like AOL and Netscape, these were the giants of Web 1.0, and the user experience on the Internet consisted primarily of clicking links and reading web pages.
Web 2.0 introduced interactivity. As web platforms improved, users could watch videos, share photos, contribute to online projects, and send instant messages to friends. The mobile revolution has further enhanced the interactivity of Web 2.0. Now everyone carries a powerful, easy-to-use, more advanced computer with a fast internet connection in their pocket.
Web 2.0 democratized Internet access for people around the world. The UN estimates that the number of internet users increased from 738 million in 2000 to 3.2 billion in 2015. But the abundance of trade, advertising and data the Web 2.0 generated went into the pockets of some big companies. Companies like amazon, Apple, Facebook, Google and Microsoft have a huge impact on our society because of the platforms and data they control.
Intuitive and powerful data control
Web 3.0 promises to put consumers in control, with all the freedoms of Web 1.0 but with all the benefits of the latest technological advances.
Decentralization, blockchain security and democratized access to AI are the main drivers of this power shift. The new and better Internet will be solely based on pro-privacy and anti-oligarchy. Thanks to the privacy provided by encryption and distributed ledger technologies, web access and user data are no longer controlled by a handful of companies.
While the technology is still being tested, solutions to Decentralization of storage, file transfers, messaging, personal AI assistants, the identity of things, navigation and computing are actively being developed. All of these solutions require a new infrastructure for support and computing power.
This new paradigm promises to fundamentally change the way we think about data and find information. Our daily lives will change in myriad ways as Web 3.0 powers, boosting everything including and especially money, education, transportation efficiency, energy conservation and production, insurance, real estate, agriculture, manufacturing, supply chains and the like.
This sounds a bit hard to believe but consider this. If Web 1.0 began to gain ground, only a small minority could have imagined how radically it would change business and everyday life. We've seen how disruptive the internet can be, we just didn't see new technology until recently.
Most people think of internet innovation as a slight improvement on an existing one Technology. , like the iPhone 8 to the iPhone X. We view Web 3.0 as the move from a flip phone to the iPhone as it represents a complete paradigm shift that will change the way we access, process and use digital spaces interact with them.
5 of the top benefits Web 3.0 can bring to the world.
The benefit of distributed ledger technologies and decentralization in Web 3.0 is that you can track your own data and inspect the code behind your chosen platforms.
You don't have to trust a big company. In fact, there may not be any company behind the platform you are using. (Most major blockchain platforms are developed by non-profit organizations.) This dates back to the early days of the internet and the original spirit of a free and open forum for the exchange of ideas.
Decentralization promises to connect providers directly to consumers. No central authority takes any part of the proceeds from an electronic transaction. We will not be able to eliminate all intermediaries using blockchain technology. We will continue to need sensible regulation and systems to monitor fairness, but we will see a shift towards decentralized networks and no reliance on centralized institutional control. For example, a blockchain replacement for Airbnb is conceivable, where hosts and guests can connect directly without an intermediate service.
Large-scale marketplaces, for example as a decentralized replacement for e-commerce platforms such as Amazon, are also possible and in development.
The number of data breaches and misuse of user data in recent years should give consumers a reason to reconsider how they share information online. One of the main benefits of blockchain and recent advances in cryptography is that it allows you to protect and track your personal information across the internet. Privacy matters, whether we're talking about civil liberties or identity theft.
4.Data Ownership and Sharing
Have you ever thought how tedious it is to fill out online registration forms? With Web 3.0, you probably have a personal profile that works on multiple platforms. You will own your profile and related data, which you do not need to share with companies.
However, if you choose to do so, the data is easier to share, its accuracy can be verified, and you may even be able to sell your data to advertisers or brands.
Connecting consumers directly to producers has the added benefit of making it easier to become a producer. With no intermediaries or gatekeepers, people around the world can start businesses and find customers directly on Web 3.0.
Digital currencies and distributed platforms break down national barriers and social prejudices. All you need is a good idea and someone willing to pay you to implement it.
Advantages of Web 3.0
Web 3.0 is the future of the Internet, where applications will become smarter, more private and more decentralized. As new infrastructure and new platforms come online, the experience of using the internet will change dramatically. Today's Internet is an incredible resource and allows us to do powerful things.
However, it also requires that we share vast amounts of data with intermediary companies who are not transparent about their practices. Web 3.0 wants to change that and create a more open and transparent Internet.
It's hard to imagine a future in which artificial intelligence (AI) does not play a major role in everyday life. AI promises to automate many of the intellectual tasks we do every day. This includes setting your thermostat at home, driving your car, paying for items at the store, and maybe even helping out with some of your work. Because AI can learn and improve over time, it's hard to imagine many tasks not ultimately falling within the purview of AI applications.
Machine learning is one of the key frontiers for the development of AI, which is already influencing our society. In fact, machine learning is already touching your daily life and you might not even have noticed it. When Amazon recommends a product for you, YouTube suggests a similar video to watch, or Facebook recognizes a friend's face and asks you to tag them. They all use machine learning algorithms to make predictions, personalize your online experience and influence you.
This trend toward automation and personalization will continue for years to come and continue to increase the Web 3.0 revolution.
Internet of Things
Our lives are full of hundreds of objects that we interact with every day, from alarm clocks to to refrigerators to subway passes. If each of these objects could be connected via more secure network protocols, we could go to great lengths while collecting useful data about preferences and behaviour.
Smart thermostats, home security systems and keyless cars are recent examples of IoT at work. In the future, even more, things will become smart and connected, so life is seamless, and your devices are already on and ready, anticipating your preferences.
In In a future where artificial intelligence and the Internet of Things know so much about us and our preferences, privacy becomes a major concern. Blockchain is the missing piece of an open, connected, and proactive Web 3.0 that enables users to tokenize, secure, and protect their data while allowing it to be shared with authorized parties.
The secret lies in blockchain cryptography, which makes it easy to access the data if you know the private key, but almost impossible to crack without it.
Assets Blockchain systems exist on a decentralized ledger managed by thousands of computers around the world. This means that there is no central authority that controls the infrastructure for Web 3.0. Instead, anyone anywhere in the world can access the blockchain at any time, enabling instant, secure and open movement of data and value around the world.
Artificial intelligence and a blockchain-powered Internet of Things have far-reaching potential in almost all areas of the modern economy.
1.Banking & Finance
Digital currencies like Bitcoin have already become a global and cross-border store of value. However, many countries are also interested in blockchain security and asset issuance, and fiat currencies could be secured by blockchain.
Digitizing currency would require a restructuring of the banking system to provide more value -Additional services for consumers (e.g.instant transfers and credit on demand). Securities and other tradable assets could also use blockchain signatures to ensure security and enable 24-hour trading.
2.Logistics and Supply Chains
The clothes, electronics and food in your home probably come from dozens of countries around the world.
Blockchain can create a global ledger where the supply chain behind the products is transparent. Additionally, IoT sensors in products can update the blockchain ledger at every stage of manufacturing and shipping. With a clear view of the supply chain, businesses become more efficient and consumers can verify the sustainability of the products they buy.
Land and resources can also be recorded and managed in a distributed ledger.Satellite imagery, computer vision and government records could form a global blockchain. This makes buying and selling real estate as easy as transferring a digital certificate. In emerging economies, Web 3.0 will make real estate transactions faster and easier. In developing countries, it can make a big difference for people who have lived on land for a long time but do not have legal ownership documents.
Today's online shopping experience relies on intermediaries creating costs for suppliers and therefore increasing prices for consumers. In Web 3.0, marketplaces no longer need to rely on a central authority to match buyers and sellers. Instead, vendors can use open platforms to sell directly to consumers.
Consumers, on the other hand, can use AI-powered reputation systems to determine which products best meet their needs. Smart contracts execute the sale and monitor delivery through real-time IoT-enabled tracking.
5.Voting and Governance
Online voting has long been a goal of tech enthusiasts since the dawn of the internet. The problem is that Web 1.0 and 2.0 don't have good answers for verifying identity, preventing revocation, and protecting against attacks. Blockchain, AI and facial recognition/biometrics help solve these problems by enabling independent online identities that can be verified. While the details of online voting and identity verification are still evolving, once online voting becomes a reality, democracy will be much more direct. People can vote more easily and more frequently on issues that directly affect them.
Insurance is currently monthly or yearly, with a central insurance company setting monetary premiums. A better way is if the AI learns to assess risks and assess claims on a case-by-case basis. From there, blockchain smart contracts can collect payments and automate payments when claims are made. Imagine paying for your car insurance by the day or even by the hour, with a higher premium when you're stuck in traffic and a lower premium when your car is parked in the driveway.
Blockchain smart contracts, AI and IoT make this possible as part of Web 3.0.
A major side effect of Web 2.0 is that advertising has increasingly shifted to the Internet.
This means companies have an incentive to collect and sell user data, which is bad news for your privacy and attention. Additionally, online ad fraud means bad actors use bots to simulate impressions and clicks, charging advertisers for fake traffic that never leads to a purchase. Web 3.0 technologies will help by keeping users' data in their hands and allowing them to decide how to share or sell their own information. These new technologies will also prevent many forms of ad fraud by verifying impressions and clicks based on the user's identity.
Social media, movie streaming and even live event ticketing could see massive changes due to Web 3.0 technologies. Any service that requires login authentication and entering user credentials could benefit from some form of encrypted distributed ledger. . AI is already making recommendations on things to do, content to watch and read, and people to meet.
One step further: IoT in the real world, as well as augmented and virtual reality promise to fundamentally change the way we interact online and in person.
9.Computing and Data Storage
Dropbox, Google Drive, and Amazon Web Services are huge companies with mountains of user data, but they're centralized, targeted, and expensive. A better solution might be to store information in unused space on thousands of computers on a decentralized network. Techniques such as encryption and document shredding make this possible with redundancy and reduced susceptibility to attack.
Also, the processing power of network nodes is another resource for Web 3.0, and this decentralized infrastructure will become increasingly important as Web 3.0 matures.
Medical records are among the most important and confidential documents in the world.
Securing these records on the blockchain makes sense from a data security perspective. It also has the added benefit of allowing recordings to be shared between your care providers if you agree. As wearable devices and sensors become more popular, real-time health data can be written directly to the blockchain from your body. AI algorithms can recommend when to see a doctor, or even diagnose some diseases instantly.
Web 3.0 is affecting almost every area of life even the Hive blockchain. We rely more and more on our phones and personal devices, the internet is becoming an increasingly important part of our lives. We depend on it to talk to friends, buy goods, find entertainment, and get essential services. Web3.0 encourages this integration with greater security and privacy while providing greater efficiency and personalization in your interactions with the world, both online and in person.
My final thoughts:
We have seen the influence of Web 3.0 even in the Hive blockchain, without a doubt, this is definitely a good thing. Now the question is, can too much of a thing such as the Web 3.0 be bad? That we shall see, but for now, all we can do is tap into as an individual and as a community the unlimited and boundless potentials Web 3.0 has to offer even on the Hive blockchain .
Thanks for reading this long
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