Web3, the 3rd generation Internet, based on the metaverse and the blockchain

Web3: the 3rd generation Internet, based on the metaverse and the blockchain. There is no longer any doubt that the Meta-verse is the next iteration of the Internet.

It is true that we are still in web 2.0, but we are gradually migrating to web 3.0, which implies the overlapping of immersive technologies such as the metaverse (virtual and augmented reality) and blockchain technology.

These 2 technologies plus artificial intelligence and Big Data will be the pillars of the Internet of tomorrow. They will offer users the possibility of enjoying more real interactions and also access to Internet services completely free of charge.

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This means no central point of control, complete ownership of data, and fewer service interruptions across networks without permission. Users will no longer depend on any corporation or government to do what they want on the Internet, as they still do today.

In fact, soon we will no longer depend on giants like Google, Facebook, Twitter and many others to access the Internet. The Web will be totally decentralized!

Author’s note – Let’s clarify, in good French the term Meta-verse ends with e, but in English, it does not have an e, (meta-verse is the contraction of meta-universe, that is, meta-universe (fictional world and/or virtual), which some also call augmented reality, we will voluntarily use for this article the English contraction: metaverse or meta-verse, and not the French writing metavers.

Web3, discover in this article everything there is to know about the 3rd generation Internet, which will be based on the metaverse and the blockchain.

What is web 3.0?

Web 3.0 is an idea for a new iteration of the World Wide Web. Unless unexpected and revolutionary new web technologies suddenly appear, what is considered today as the 3rd generation of the Internet will be based mainly on the blockchain and the metaverse.

Unlike the first two versions of the Internet (Web 1.0 and Web 2.0), the next one will be more immersive thanks to the metaverse, which in turn is based on virtual and augmented reality, also more intelligent with the participation of Artificial Intelligence and Big Data.

Experts are also already betting on an Internet of the future based on Blockchain technology, which incorporates concepts such as decentralization.

To understand more clearly what Web 3.0 will be like, we will see what the metaverse is and the applications of blockchain technology.

Web3 – What is the metaverse?

Considered the third iteration of the Internet, the Metaverse is the convergence of augmented physical and virtual realities in a shared online space. It is a mirror world, a virtual reality space in which users can interact with a computer generated environment with other users. It is the future version of the Internet and it exists regardless of whether you are online or not.

It is a persistent place where you can access to change, live and return. It will be accessible on all of our different computing platforms, virtual reality platforms, augmented reality platforms, PCs, mobile devices, and gaming consoles.

Its ecosystem considers user-centric elements including avatar, content creation, virtual economy, social acceptability, security and privacy, trust and responsibility.

The metaverse could also be defined as a real-time multi-user virtual space where people from all over the world can connect through a network, coexist, socialize and exchange value.

What sets the Metaverse apart from a traditional multiplayer experience is the ability for players to create and share content to shape the world around them in more or less persistent environments.

How does the metaverse work?

These descriptions reveal several key attributes of the metaverse. First it will be a matter of entering cyberspace. We will do this using a virtual reality headset.

Once the helmets are on, we will access multiple virtual universes. The nature of the metaverse is still unclear as we don’t know if it will be a single metaverse or a collection of multiverses. Right now, the biggest names in the tech industry are working on their version of the metaverse.

However, the most likely scenario is that users decide which ones will become popular. Once we enter the metaverse of our choice, virtual and augmented reality will take over.

We will enter this cyberspace through an avatar. An avatar can be a representation of you or something else entirely. Either way, we can customize that avatar however we see fit. The avatar is your gateway to interact with the virtual world. This virtual world can be anything from a classroom to a trip to the moon.

These virtual worlds will have their own rules. For Mark Zuckerberg, for example, CEO of Meta Platforms, Inc, a company that actively invests in the metaverse, it is important to him to create a metaverse in which users are free to define their own rules.

We saw a similar approach in Web 2.0. You can friend, unsubscribe and block other users on Facebook. The metaverse should also provide all of this, but integrate more policies to improve security measures.

Finally, it is likely that the metaverse also has its own economy and, in some cases, its own currencies.

Experiences, new possibilities offered by Web3 thanks to the metaverse

Let’s take the case of travel and entertainment to illustrate the new experiences that Web3 will deliver across the metaverse.

  • A new way to travel

The metaverse will no doubt play a major role in future travel. Putting on our glasses will allow us to be anywhere on the planet without having to physically move. Leading companies like Unity and NVIDIA are already developing cutting-edge 3D graphics technologies that look extremely realistic.

These graphics are currently used primarily in video games, but are slowly making their way into the film industry. Eventually, we will have video services that will allow us to travel around the world.

Aside from that, the metaverse will also offer users the possibility of very realistic time travel. Although technically only travel to the past is possible.

  • More interactive entertainment

When the metaverse is more mature and accessible to all, we can also expect the entertainment industry to become much more interactive.

For example, the metaverse may change the way we listen to music. It can be expected that artists will soon be able to create music videos in the metaverse and sell tickets for their studio sessions. In this context, the size of the room will no longer matter for ticket sales. For our part, we as fans will no longer be limited to a specific time or place to see our favorite artists, and we certainly won’t have to wait for our favorite bands to go on tour.

This is also true for the film industry. Our favorite movies and television series can become metaverses in themselves, virtual worlds in which to immerse ourselves and live extraordinary experiences. In the Game of Thrones metaverse, for example, you can ride a dragon alongside Daenerys Targaryen.

What is the blockchain?

According to a definition provided by IBM, blockchain is an “immutable, shared ledger that facilitates the process of recording transactions and tracking assets on a corporate network.”

A blockchain is nothing more than a digital ledger. Any type of data can be stored there. What sets blockchain apart from the good old Excel sheet is security. Blockchains are nearly impossible to cheat or hack, thanks to decentralization.

Traditional ledgers use databases, as has the Internet for many years.

The problem with databases is that they use “CRUD” operations. CRUD stands for create, read, update, and delete. In other words, you can go into a database, browse data, make any necessary changes, or delete information.

As a result, security risks arise as you are not the only one capable of doing all these things. Third parties, hackers and malicious administrators can also modify or delete your data.

In contrast, blockchain uses a decentralized ledger. This is hosted on different computers, also called nodes. This allows the blockchain to support immutability.

At the time the data is written, it cannot be changed or deleted, greatly minimizing the risk of third-party interference. But immutability offers more than just security. The immutability of blockchains makes them the most transparent and reliable ledgers available.

Thanks to the blockchain, web 3.0 will be decentralized

Web 3.0 will be based on decentralization, without single points of control and profit centers, because blockchain, the technology on which it will be based, allows the transfer of value without profit centers or monopoly service providers.

Although the advent of social networks has allowed the exchange of information between users but has somehow offered control of the Internet to a few private actors, with blockchain technology the transfer of information is completely decentralized, as well as being more secure.

This technology also allows the transfer of assets and money without third-party intermediaries, such as banks, other financial institutions or the economic platforms of the sharing economy and Web 2.0, which benefit from each transaction, and popular social media platforms, which benefit from using user data.

A blockchain can also be used as an infrastructure for running decentralized applications or for decentralized data storage.

The decentralization of data storage, for information, means that data storage will no longer be entrusted to a single instance. This, the storage therefore, is provided by network users, who will be paid by whoever offers the service.

Antonio Rodriguez, Director Clever Technologies

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