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Web 3.0 will increasingly have legal ramifications for individuals and businesses and so it is important to understand what it is and how it might impact you. A useful way to understand Web 3.0 is to compare to the previous iterations of the web. I summarise those and Web 3.0 here.
Web 1.0
Also known as the “read-only Web”, where information was posted to the internet by central outlets such as news collators or organisations or governments allowing users to consume content.
Web 2.0
Also known as the “participative social Web” where users can post content. Exemplified by blogging and MySpace in the first iteration and by social media giants, YouTube, Facebook, Twitter, Instagram and Tiktok, and podcasting in later iterations. Web 2.0 also features centralised databases and servers, for example the databases and servers of social media giants, Google and government agencies containing user’s personal information.
Web 3.0
Also known as the “read, write and execute Web” where users can own content, exemplified by NFTs, crypto currencies and metaverse property. Web 3.0 is underpinned by a decentralized database built on blockchain, where users all form part of the network and database, as opposed to 1.0 and 2.0 where users accessed information, networks or databases controlled by the owner of the network.
Where we are now in the context of web 3.0 is comparable to the mid-late 1990s in the context of web 2.0.
Web 3.0 introduces a number of new concepts that are worthy of definition. I will introduce those in later posts.
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