Web 3.0 is a developing version of the internet in which data will be interconnected in a non-centralized way and websites and applications are going to process information in a smarter and modern way. This third version of the internet is possible thanks to technologies like machine learning (ML) and Big Data.
Exhibit - The evolution of web
In this version, the webpages were statics with majorly texts, not a lot of images presented, and most of them were administered by press vehicles.
The second version of the internet is the centralized one that people still use today. It is characterized by dynamic content, the increase of the number of users and the creation of famous search engines and social media, which are run by large monopolies.
The yet to come third generation of the internet has as its main characteristics the decentralization of content, the permission to interact in a direct way and without the authorization from a governing body, the use of machine learning and artificial intelligence (AI) and the strong presence of cryptocurrency.
Web 3.0 is the next generation of the internet, and it has the potential to revolutionize e-commerce. It is more interactive, more social and more intuitive. Web 3.0 will lead to better consumer experiences, more efficient Ecommerce operation. It will impact in two main ways: technological (blockchain) and functional (descentralized platforms) level. This is why it’s important to understand how the business should leverage the product and user experience through these new connections.
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