The Future is Nigh: Web 3.0, Blockchain, and the Internet of Things

We’ve been living in an age of Web 2.0 for quite some time. Categorized as the advancement and expansion of content online, we are aware Web 2.0 was all about creating content and interacting with websites through next-generation Internet technologies such as social media, forums, and others. Web 2.0 has changed the way data was shared on the Internet, with more people sharing content and interacting quickly with people from all around the world. Also, Web 2.0 technologies have helped people reach friends and close ones via instant messaging and video calls, in real time. Lastly, it has aided the dissemination of information and opened up many possibilities on the web—ecommerce, gaming, music streaming, social media, advertising, and all things crucial to online communication.

Blockchain Technology

Since 2009, blockchain technology has become a rising phenomenon, but most recently, it has shown potential to transform the web into something, unlike the current system. For those of you unfamiliar, Blockchain is a public ledger which keeps records of transactions conducted on it. It uses what is known as Distributed Ledger Technology (DLT) to ensure the information stored on the network is decentralized, secure and immutable. Blockchain technology is behind the creation of the first cryptocurrency, Bitcoin and a host of others, since Bitcoin’s inception in 2009. Blockchain records are open and visible to anyone within a given network. However, the data stored on a blockchain is immutable; that is, no one can edit or delete existing records. This technology is secure and helps keep data safe as in the case of cryptocurrencies, where the technology also prevents the duplication of such items.

With blockchain technology, so much as been said about Bitcoins and other cryptocurrencies changing the financial world. But the technology has also attracted criticism because of the complexity of how it works. However, it has proven to be transparent and often reliable in terms of security. This is why various industries are now implementing blockchain technology in driving a lot of innovative and promising inventions. Apart from the financial sector and investment, blockchain will surely disrupt – albeit positively – a lot of other sectors. It is inevitable! Blockchain technology is also used in areas such as voting and educational management platforms but has the potential to expand elsewhere. Especially when you consider the connected world we all live in, and the age of the Internet of Things (IoT).

The Internet of Things

The Internet of Things (IoT) is an innovative technology which allows certain devices to access the Internet, enabling communication with a similar network of such devices. For instance, an IoT-enabled refrigerator can notify if you don’t have any milk, or you can control an IoT pet feeder when it’s time to feed your dog, right from your phone. IoT allows these devices to access the Internet and data are shared between them. They transmit and collect data using existing technologies, e.g., Bluetooth, WiFi, and the cloud.

Web 3.0 and the Future

Technology has transformed (and is still transforming) how we do things,  and I imagine this transformation reaching all-time highs in a few years to come.With blockchain technology, and considering the IoT, it’s no surprise researchers are speculating the age of Web 3.0 is near. Web 3.0 is categorized as the expansion of augmented reality and virtual reality into the physical world. Items that have physical value can exist solely in digital (i.e. currency or a personal avatar). We become surrounded by a connected world, one that is both physical reality but augmented with network-enabled devices, augmented reality lenses, and wearable technology. In short, blockchain technology leads us to a Web 3.0 world, where the IoT expands across every dimension.

Moreover, I think  IoT is the future, in the purest form. Smartwatches, digitally equipped coffee mixers, WiFi kettles, Bluetooth blenders and other objects that share data make life better in a refreshing way that makes me appreciate the impact of technology and data. IoT is not the feature of current tech trends, brace up for a very “IoT’ed” future where every device interconnects in a vast network.

Web 3.0 has strong implications for the digital marketing sector. The Internet of Things influences digital marketing as data transferred by a device can be obtained by marketers. They can, therefore, have access to habits and preferences of customers to aid marketing practices. Considering recent political events, the data business professionals can access may be limited, but this is just something to consider. Furthermore, since encryption, security, and transparency are some of the significant features of blockchain technology, companies can quickly verify if those viewing their advertisements are genuinely part of their target audience or otherwise, and ensure sensitive data is made available only to the concerned persons. Tracking can become truly unique to the user. This system forces web and digital marketing experts to focus more on user experience, rather than strategic data sciences.

Adoption of blockchain technology throughout the entire internet, intersecting the IoT and AR/VR will bring a new era of data security and effective distribution of information. The benefits are far too numerous to ignore. While a Web 3.0 world may not be entirely vivid, yet, the expansion of the internet into our everyday lives, assisted through Blockchain, is going to be transformative.

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