Friday 1 July 2022
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Web 3.0 may end monopolies of Google, Facebook

In Web 3.0, the user will get the rights of his or her content, which makes companies like Google and Facebook fear an end to their respective monopolies

You might be hearing the name of Web 3.0 these days, but it has been in the making for a long time and this article will explain why it is sending jitters to companies that control, sell — and allegedly manipulate — your data.

Web 3.0 may completely change the way we use the Internet. Some people are calling it the metaverse. Some say that with its arrival, the Internet will get decentralised, with the facility linked also to cryptocurrencies and blockchain. But quite a bit of it is speculation.

The question is what Web 3.0 is after all. A flashback is merited here, as its strings are connected to Web 1.0.

Web 1.0 came in 1989

Thirty-two years ago, in 1989 that is, the World Wide Web (WWW) started. The Internet then was quite different from its current avatar. Then you used to get information on the Internet only in the text format. Looking back, it’s now called Web 1.0.

After this came Web 2.0. This is the internet we are using. The existing internet is controlled in a way and is not decentralised. We most of the internet content through the search engine Google, which, being a private company, makes the handling of your data a risky business.

Web 3.0

No prizes for guessing the advanced version of Web 2.0 will be called Web 3.0, but this ain’t just a facelift of sorts. The biggest thing about this will be that no company will be able to control you.

Sirf News Analysis: Web 3.0

In Web 3.0, no company but every user will be the owner of his or her content. Google can, as of now, use its engine to its advantage. It can arbitrarily throw up the results of your search (it’s actually corrupt, driven by who pays, but that’s for another article, another day).

  • Facebook’s owning company-turned-Meta has platforms like WhatsApp and Instagram too. If the company wants, it can manipulate your content in its own way. In the new policy of WhatsApp this year, for example, there have been allegations regarding user’s data access.
  • Companies like Google and Facebook are running monopolies in their respective circles. With the advent of Web 3.0, their monopoly may end. These companies have, therefore, started opposing the Web 3.0 concept from now on.

As for Web 3.0 accommodating blockchain — and, therefore, also cryptocurrencies — are also based on the blockchain, decentralised currency means that your money is not in any bank. Ergo, if the bank sinks, unfortunately, your currency will not. It’s thus a better proposition than the present setup of banking.

Your life will change with Web 3.0

After the arrival of Web 3.0, people will have more power. Your content will be yours and you will get a token in return. You post some content on any platform, and you will own it. This does not happen now. For example, when you any content on Facebook or YouTube, it becomes their property. They can use it according to their own way. In Web 3.0, no company will decide whether to remove or keep your content.

In Web 3.0, people will be able to control their data. In Web 3.0 too, the data will be in every user’s device, not on a central server, just like the blockchain. It will be encrypted, so no one will be able to know which user’s data is where.

Elon Musk not in support of Web 3.0

People have different opinions about Web 3.0. Tesla CEO Elon Musk and Twitter founder Jack Dorsey are not in support of Web 3.0.

Musk says that Web 3.0 sounds like from reality. However, the second truth is that the tech world has been working on Web 3.0 for a long time. In the next 10 years, it is possible that Web 3.0 will replace the existing Web 2.0.

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Surajit Dasgupta
Surajit Dasgupta
Co-founder and Editor-in-Chief of Sirf News Surajit Dasgupta has been a science correspondent in The Statesman, senior editor in The Pioneer, special correspondent in Money Life, the first national affairs editor of Swarajya, executive editor of Hindusthan Samachar and desk head of MyNation

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