Web 3.0 - a business perspective


Web 3.0 - a business perspective

  • 12th October 2022

“The Web” is evolving over the period of time. The entry of Web 1.0 was the big bang in the world of computer technology. Though was limited in communication, it flagged a new era of the internet where people from different cults can share their knowledge and views. Web 2.0 made it more interactive helping people to get the best picks among the available choices, but the ultimate control remained confined to a handful of big players in the market.

With the introduction of Web 3.0, there will be drastic changes in “the Web” and the way it was perceived and operated. When any brainstorming on Web 3.0 initiates, Decentralization, Blockchain, P2P communication, Semantic Web, and Ubiquitous connectivity are the buzzwords that frolic in the discussion.

Here we churn the new mover and shaker of the web experience- Web 3.0 from various business sectors perspectives. The benefits that different businesses will observe have been enlightened in the discussion.

1. Healthcare

With extensive AI deployment in Web 3.0, machines will be fortified with the ability to process text, audio, video, and images. AI and Image processing together will help in quick diagnostics and planning a better line of treatment.

2. E-Retailing

B2C businesses harness the power of customer reviews to build their product line. Though a lot of reviews are available, many of them are context driven or have emotional inclinations. The Semantic Web will help to fetch the context-based human emotional inclinations which will support decision-making. With immense security and decentralization of the data, there will be fewer chances of tampering or misuse of the reviews. This will lead to unbiased decision-making.

3. Banking and Investment

Blockchain the super buzzword married to Web 3.0, will add transparency to the transactions. With no third-party involvement and smart contracts, this industry will experience a shift of ownership. This restructuring will make the banking experience more secure.

4. Education

Educational sector will be able to leverage the benefits of the vast knowledge base. As Web 3.0 is augmented with Virtual Reality and Augmented Reality that involves high-risk or great investments can easily be virtualized.

5. Entertainment

3D Graphics, Virtual Reality and Augmented Reality will make the gaming experience more thrilling and realistic.

6. Share Trading

Timely response and precise decision-making are the two forces that drive share trading. Ubiquitous Connectivity will make sure that we are continuously connected and fluctuating market data is available all the time. AI in combination with 5G will be able to make better and faster market predictions.

7. Hospitality

Hospitality is highly hooked on customer reviews. Custom-Tailored endorsing, semantic analysis, and trustworthy reviews will help the Hospitality business flourish better. As there will be no third-party involvement, unprejudiced opinions will help customers to make an apt choice.

Web 3.0 is in the nascent stage right now. As the model will mature, the web will be set free from the clutches of a few technology giants. This will bring about a revolution in the driving forces of the Web. The Web will be faster, secure, reliable, intelligent, and authentic as no few parties can dictate the reign now. Each business will witness its own pattern of benefits in the kaleidoscope of Web 3.0.