Web 3.0 Future or Scam??

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 History:

 1991 to 2004: First generation of the Internet

 In this era of the internet, it was not possible to share photos and videos over the network. The internet was the only static page and also interaction was zero. This generation was one-way communication. Our users were consumers and whatever the internet throws at us we were consuming.

2004: After 2004 the revolution happened which changed our lives. Human beings were no more customers; they started giving content to the websites.

Real facts:

Does YouTube make its own videos?? Does Instagram upload reels on their account?? How many tweets does Twitter post on their account??

The content available today on the internet has 86% content produced by the users, not by the companies but after 100 Years also the problem of security of our data is still there.  100 years ago when we were communicating over letters the security issue of our message, our information, and our data was there because how can you trust the Postman, he/she can read the data. But today also the social media companies read our data, they use our data to show us the ads and sell the products. So there are some problems with web 2.0

  •       lack of privacy
  •       Total control with the companies

But Web 3.0 is trying to resolve these issues with the help of blockchain now you will be the owner of your own content but to achieve this there are some obstacles

  • Identity:  Whenever we search for something on Google it knows your identity for example if I search how to make coffee on Google, Google shows me various coffee shops whenever I open Google Maps. So basically Google charges money from these brands to publicize their brands. The history may be deleted from your machine or you might be using the Incognito mode but remember the internet knows your identity that can be misused. With 3.0 gives you a different identity which will mask your original identity
  • Censorship: Many social media companies give us lecture about the importance of freedom of speech but only a few of them actually control what their platforms should show . For example, a few months ago Donald Trump was banned from Twitter. It was just a decision of a few members of Twitter that they don't want Donald Trump on Twitter and the person at the president level was removed from Twitter. Is it right that the platform should decide what is right or wrong?? Why user has no right to decide?? Twitter has many times done the mistake of showing the POK as part of Pakistan instead of India. So is it right?? Absolutely not;  so web 3.0 will not have any CEO or any company authority. Decisions will be taken by the code DAOs. Rules in DAOs will be declared already by the smart contracts. So no human intervention will be there.
  • Ownership: The Content developed by the user is not actually owned by the user but is owned by the platform. If I upload any video on YouTube I am not the owner of my YouTube video, YouTube is the owner of my video and I have also no right to decide what ads to show what charges to be charged. But that charges rates and ads are decided by the platform. There is no control in the user’s hand. So Web 3.0 gives the control to the user so the middleman is out.

All these things look futuristic and impossible right??

 But there are some problems with Web 3.0 also. You are giving the highest privacy, so whenever you give more privacy it means it gives rise to crime, and as privacy will be hidden the cybercrime will increase. In Facebook-Cambridge analytical scandal Mark Zuckerberg was questioned but who will be questioned for web 3.0 scams as the original identity will be masked. Also, blockchain is not perfectly secure so it is dangerous to shift 100% to blockchain too early lastly as web 3.0 is given full freedom by natural human tendency it is going to be abused!!! That’s why the founder of Twitter Jack Dorsey and the Tesla owner Elon Musk thinks of web 3.0 as a scam!!

So what do you think is it a future or scam??? 




From:
ELESAite Mihir Bedekar
Vice President, ELESA.


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