Web 3.0 represents the next phase in the evolution of the internet, signaling a fundamental shift in how we interact with online platforms. It transcends the mere introduction of new search engines or social media networks; rather, it heralds a complete transformation of the underlying principles governing our digital realm.
One of the defining features of Web 3.0 is the decentralization of information. Rather than entrusting corporations with the ownership and control of our data, each user will possess their own Web3 wallet, which serves as a repository for their personal information. When accessing a platform, users "open" their wallets to store their session data, and upon logging off, they "close" their wallets, taking their data with them.
As a result, user / creator gains ownership of their data and the freedom to decide its fate, including the option to sell it. While personal information remains hidden from companies, user activities are still visible.
This is how Ethereum compares Web2 to Web3:
Ethereum website
Have you ever come across brands that claim to be Web3 pioneers, promising a vibrant "community" and empowering creators? While they throw around buzzwords like "community," "together," and "power to creators," it's important to discern whether they are genuine or simply using these terms as a facade to brainwash you. Similar to the fashion industry's exploitation of words like "organic," "pre-loved," and "eco-friendly," the term "community" has become the new buzzword.
But what does community truly mean in the context of Web3?
Contrary to what many brands might have you believe, community is not just your follower count on Instagram or your audience on Twitter. A community consists of people who share the same values as your brand and have a genuine influence over it. They play a crucial role in driving innovation, adoption, and governance within Web3 brands.
So, how can you quickly identify whether a brand is genuinely Web3 or merely engaging in deceptive practices? The answer lies within their terms and conditions. If a brand extensively talks about community-building and empowering creators, but in reality, retains ownership over your creations, it's clear that they are using brainwashing tactics.
Personally, I have encountered numerous Web2 brands masquerading as Web3, which stems from the traditional Web2 concept that has existed for years. Platforms like Instagram and Twitter openly acknowledge that they own your data and have the authority to block you at any time. However, there are brands that take this deception to another level, using buzz keywords to gain followers while maintaining complete ownership of your assets. They might even modify them for their own promotional purposes.
For example my agency, HONEY. I cannot claim that we are a Web3 brand. While we provide services within the Web3 realm and support our creators, we are not following all the guidelines. We are, first and foremost, a service provider. Despite my deep admiration for the Web3 concept and my desire to embrace it fully, various regulations in Italy prevent us from adopting a Web3 agency model at present.
In practical terms, this paradigm shift could revolutionize the business model of digital applications by placing disintermediation at its core. This means that intermediaries may no longer be necessary when it comes to data, functionality, and value exchange. Users and creators would have the opportunity to take control and, through open-source applications instead of proprietary ones, be incentivized to innovate, experiment, construct, and expand on a larger scale.
Disclaimer: This is my personal opinion only, agree or disagree with it. The article does not refer to any specific brand.
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