Web 3.0 Next Economy Authors: Kim Mi-Kyung, Jung Ji-Hoon, Shin Dong-Hyung, Kim Seung-Joo, Lee Seung-Hwan, Erica Kang, Yoon Jun-Tak, Lee Shin-Hye, Kwon Heon-Young Publisher: Awake Books Publication Date: November 30, 2022
After going through Web 1.0 and Web 2.0, the era of Web 3.0 is coming. Some deny the concept of Web 3.0 simply because the Web is evolving. However, considering that the role of the Internet changes in each era, it is not unreasonable to accept the concept of Web 3.0. In fact, I have been exposed to the Internet since it began to spread widely to the general public, but I did not think deeply about how the role of the Internet has changed in each era. It is thought that the scope of service has expanded according to technological development.
Jeong Ji-hoon defined Web 1.0 as read-only static and Web 2.0 as read-write dynamic. If web 1.0 is centred on portal services such as Yahoo, web 2.0 is centred on platforms. In fact, the services we think we use for free, such as Instagram and Facebook, are not free. The images and texts we upload become the property of the platform the moment they are uploaded. Network effects create synergies in several ways. As people gather, the platform raises huge profits. However, the individual who contributed here receives little compensation or no benefit.
In the course of the development of Web 1.0 and Web 2.0 due to the development of information and communication technology, the centralized platform eventually gained all the profits. However, this situation is showing signs of change with the advent of the Web 3.0 era. It is a new technology such as blockchain, token, NFT, and the metaverse. What does this technology mean? In fact, it was a level that could be roughly understood about the concept up to Web 2.0. However, the future that Web 3.0 implies is not well outlined.
What the new technology means is that decentralization and digital assets can have value and be exchanged. It means the expansion of a newer area. Now, the platform monopolizing all the added value created on the Internet will gradually disappear. Each individual acts as a consumer and creator and receives appropriate compensation. Various coins are recognized for their value through communities that recognize them. The virtual space called the metaverse is gradually inseparable from reality, and new values are created here. That value is stored as NFT.
In fact, I don't know if these changes can really be realized as the experts in this book are talking about. The first tweet of Jack City, the founder of Twitter, was NFTized and sold for a huge amount, but it crashed after a year. I also had a chance to talk with my juniors about NFT, but most of them expressed doubts about its value. In my personal opinion, in order for NFTs to have value, a community that can recognize its value and various activities related to it are needed. Or, I believe that there must be a place where the NFT can exert its value.
Web 3.0 isn't yet complete and exactly the concept. This is because new technologies of Web 3.0 are still developing, and contrasts exist. However, on the other hand, it is unknown whether the central government of each country will accept the value of decentralization as it is. I am negative about whether a cryptocurrency will become a universal alternative currency. Perhaps a form that can be traced and controlled, such as the digital yuan issued by the Chinese government, will be introduced.
But there's a good chance it won't go the way I expected. In any case, it is worth paying attention to the new changes now. If you are interested in Web 3.0 and new technologies, I suggest you read this book.