Web3 – What it is and why it matters

While the term metaverse may be getting the most buzz, Web3 is on the horizon as well and is bound to shake up how we work, play, and interact. But what exactly is Web3 and what does it mean for your work now and into the future? We dug into a few questions about the next iteration of the internet below.  

What really is Web3?

In short, Web 3 is the next iteration of the internet. This isn’t the first time the internet has evolved, and the next iteration, Web3, is built on the concept of decentralization. This means users will be able to control their own data and who they choose to interact with. Decentralization plays a big role in the concepts behind Web3, so while it isn’t here today, expect to continue to see a push from companies moving forward on the importance of data privacy. 

How will it differ from the current internet?

In the current internet, also known as Web 2, large companies are the dominant players. To access services, information, or anything else you have to interact with them. By no means will these companies stop existing in the new Web3, but the emphasis will be on a more open and accessible internet where the control is put in the users hands. Web3 will also be focused on new immersive opportunities like the metaverse, so we expect tech like AR and VR to be supported by Web3. 

How will it affect me and my work?

The evolution to Web3 won’t occur overnight so for now the internet will look and feel the same. To prepare it’s always best to lay your company’s digital footprint now so when changes come you can stay ahead and meet user needs, our recent eBook lays out five different ways to prepare for the future. Along with investments in digital innovation since Web3 will rely heavily on decentralized data, it’s best to review your company’s data policies to understand how you use and store customer data.

Stay tuned for our next blog where we’ll dive deeper into the differences (and overlap) between Web3 and the metaverse! In the meantime when you’re ready to get started on your next digital project reach out to our team. Whether it’s your first mobile app or a new immersive solution, our team has the know-how to create the right solution tailored to you and your users’ needs. 

Shockoe creates innovation that is measured, meaningful, and has an impact. We take a holistic approach to the potential of mobility for our clients, their customers and their employees. We invite you to connect with us on LinkedIn and Facebook.
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Lauren Sawyer

Lauren Sawyer

April 14, 2022

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