What Is Web3 and What Isn't It?
The digital world evolves every day. Our lives are becoming increasingly digital, to the point where we could say we live most of our lives online.
The digital world evolves every day. Our lives are becoming increasingly digital, to the point where we could say we live most of our lives online.
Social media platforms (Facebook, Instagram, X, LinkedIn, etc.), digital finance (online banking, digital payments, etc.), emails, messaging on apps like WhatsApp or Telegram for work, family, or any community we’re part of, the list goes on.
Given this, the innovations, new technologies, and ways of using them in the digital world inevitably touch our lives at some point.
From this starting point, I want to take a brief look at the recent past and present of this digital world where our lives now unfold. When it comes to this topic, there are some terms that are often mentioned but rarely used in daily life: Web1, 2, and 3. (I should mention that in my current work life, I have to use the words Web2-Web3 dozens of times a day, so I’m part of that minority.)
In the digital world we refer to as Web1, users could only access information without any interaction. Basically, it was all about static web pages.
Then came Web2, which entered our lives with social media and content platforms; users began to create, share content, and interact with other users.
So, in this context, what is Web3?
Simply put, Web3 is a new generation internet concept where the control of data, content, and digital identity lies with the users. Meanwhile, it’s worth noting that even as Web3 still has quite limited areas of application and hasn’t been fully embraced by the masses, Web4 is quietly on the horizon.
Everything you share on centralized platforms today is actually stored on the servers of the company that owns or hosts the platform and is controlled by them.
Web3, on the other hand, offers a distributed structure where you can manage your data without needing such an intermediary.
Why does this matter? Because Web3 redefines ownership, participation, and the belonging of the content you produce or the information that belongs to you in areas like finance, art, gaming, identity, and more.
It also offers a significant paradigm shift in terms of data security, privacy, and integrity. Thanks to blockchain technology, data is recorded immutably, and decentralized structures aim to give users full control over their data. This enhances individual privacy and ensures data integrity.
That said, I don’t want to paint an overly idealistic picture of Web3, because, to be honest, Web3 is still far from ideal in practice, even from the ideals in its own manifesto. But I believe that even partial implementation of its intended ideal, and its impact on people’s lives, will lead to many changes. Although it’s still taking baby steps, I have no doubt that it will touch many different aspects of our lives in a short time.
What’s in This Newsletter?
This newsletter will help both those coming from the corporate world make sense of Web3 and a decentralized world, and guide newcomers.
🎯 Commonalities and Differences Between Corporate and Decentralized Worlds: We’ll discuss how experiences in the traditional business world can be integrated with Web3.
📊 Strategies Usable in Web3: We’ll touch on topics like data-driven decision-making, community management, and new business models.
🛠️ Real-Life Experiences and Applications: Focusing more on practice than theory, we’ll share real experiences and lessons learned in the world of Web3.
The concept of decentralization and Web3 is increasingly becoming a part of our lives. However, it means different things to everyone. How do you think a decentralized internet might affect the corporate world?