WEB 3.0

web 3.0

The next step in the evolution of the internet, web 3.0 promises decentralized infrastructure that puts the consumer in charge offering more control over their data. Consumers can look forward to added security and privacy, made possible by AI (Artificial Intelligence), big data, and blockchain technology. Web 1.0, also called the static web, consisted of read-only pages with almost no interactive features. Web 2.0, or the dynamic web, is the internet that we are used to currently. It is defined by a high degree of interactivity; with users being able to create and share content, interact with web pages, and with one another. This version of the web can be considered the ‘read/write’ version of the web. Web 3.0 takes it to the next level with a “read/write/own” update. Web 3.0 promises to democratize the internet, with decentralized infrastructure that is not owned or controlled by tech giants, corporations, or other controlling entities.

What does Web 3.0 promise?

The most significant feature of Web 3.0 will be decentralization. What this means is that internet users conduct business peer-to-peer business transactions, eliminating intermediaries and taking power away from controlling entities. The focus will be on user privacy, transparency and ownership. For customers dealing with businesses, Web 3.0 offers complete security and the elimination of intermediaries which will lead to smoother, more trustworthy, and more economical transactions. Some of the benefits that businesses can reap from Web 3.0 are given below.
streamlined-business-process
Streamlined Business Processes
Businesses to maintain a transaction ledger for all parties involved with Web 3.0. Contracts can be automated smart contracts and organizations will also be able to create and manage their supply chains easily.
no-third-party
No Third Party Required
Blockchain, smart contracts, and decentralized applications can do away with the involvement of third-party service providers, leading to lower costs and better direct relationships with customers.
collaboration
Efficient Collaboration
Web 3.0 enables more transparency between businesses, employees, customers, suppliers, and all other partners. The immutable record of transactions in the blockchain is visible to everyone and therefore makes it increases transparency and compliance with governance requirements.
cyber-security
Reduced Risk of Hacking or Cyber-Attacks
Decentralized information, transparent transactions, and a secure ledger system make it more difficult for hackers to gain access to sensitive information. Businesses can maintain the security of financial transactions and reduce the potential for customer data breaches.
searchability-of-data
Improved Searchability of Data
The burgeoning amount of data available can be a valuable source for businesses to mine insights. This is made easier thanks to the decentralized, immutable ledger system.
smart-contract
Ledger-based Smart Contracts
In Web 3.0, contracts are stored on a blockchain and not in individual computer systems. Apart from transparency, this will also eliminate the risk of data breaches or hacking attacks.
customer-relation
Improved Customer Relations
Every transaction in Web 3.0 is recorded in the secure ledger and is visible to all parties. This ensures that business transactions are easier to track and will lead to more accountability and stronger relationships with customers.
supply-chain
Efficient Supply Chains
The decentralization of the network, along with interconnectedness, leads to better coordination in supply chain management. Processes can be streamlined for more efficient supplies and reduced wastage.
currecy-exchange
Real-time payments & Currency Exchanges
The ability to make or receive payments in decentralized currencies and enable real-time, cross-border payments gives Web 3.0 organizations the opportunity for more efficient, secure financial transactions.
streamlined-business-process
Streamlined Business Processes
Businesses to maintain a transaction ledger for all parties involved with Web 3.0. Contracts can be automated smart contracts and organizations will also be able to create and manage their supply chains easily.
no-third-party
No Third Party Required
Blockchain, smart contracts, and decentralized applications can do away with the involvement of third-party service providers, leading to lower costs and better direct relationships with customers.
collaboration
Efficient Collaboration
Web 3.0 enables more transparency between businesses, employees, customers, suppliers, and all other partners. The immutable record of transactions in the blockchain is visible to everyone and therefore makes it increases transparency and compliance with governance requirements.
cyber-security
Reduced Risk of Hacking or Cyber-Attacks
Decentralized information, transparent transactions, and a secure ledger system make it more difficult for hackers to gain access to sensitive information. Businesses can maintain the security of financial transactions and reduce the potential for customer data breaches.
searchability-of-data
Improved Searchability of Data
The burgeoning amount of data available can be a valuable source for businesses to mine insights. This is made easier thanks to the decentralized, immutable ledger system.
smart-contract
Ledger-based Smart Contracts
In Web 3.0, contracts are stored on a blockchain and not in individual computer systems. Apart from transparency, this will also eliminate the risk of data breaches or hacking attacks.
customer-relation
Improved Customer Relations
Every transaction in Web 3.0 is recorded in the secure ledger and is visible to all parties. This ensures that business transactions are easier to track and will lead to more accountability and stronger relationships with customers.
supply-chain
Efficient Supply Chains
The decentralization of the network, along with interconnectedness, leads to better coordination in supply chain management. Processes can be streamlined for more efficient supplies and reduced wastage.
currecy-exchange
Real-time payments & Currency Exchanges
The ability to make or receive payments in decentralized currencies and enable real-time, cross-border payments gives Web 3.0 organizations the opportunity for more efficient, secure financial transactions.

Procal and Web 3.0

As a company that is always at the forefront of technological change, Procal is well-equipped to shape the future of businesses with Web 3.0. While increased security is a major benefit that Web 3.0 can provide, this security needs to be written into the programs and applications that businesses will use to maximize the potential of the technology. Procal’s security domain experts bring impeccable credentials along with the ambition to stay ahead of risks and pitfalls. Expertise in the various aspects of blockchain technology, including experience with Layer 1 and Layer 2 ledger projects, familiarity with the utilization of SDKs, and proficiency in the development of dApps makes Procal a partner of choice for organizations looking to venture into Web 3.0

What does Web 3.0 promise?

The most significant feature of Web 3.0 will be decentralization. What this means is that internet users conduct business peer-to-peer business transactions, eliminating intermediaries and taking power away from controlling entities. The focus will be on user privacy, transparency and ownership. For customers dealing with businesses, Web 3.0 offers complete security and the elimination of intermediaries which will lead to smoother, more trustworthy, and more economical transactions. Some of the benefits that businesses can reap from Web 3.0 are given below.

Decentralized

Decentralized data networks enable the storage of data in a peer-to-peer interconnection rather than a central server-like setup. This means that users can log in securely without being tracked and maintain ownership over their data and digital assets.

Blockchain

Blockchain technology protects and encrypts user data. This frees users from the clutches of large companies that control their personal data and may use that data for their gain.

Semantic Web

Web 3.0 is a move to the Semantic Web. In the Semantic Web, web technologies will be able to generate, share and connect content through search and analysis by understanding the meaning of words rather than keywords or numbers.

Artificial Intelligence

A combination of semantic capabilities with natural language processing, will allow computers to understand information on a near-human level. This will help provide faster results that are more relevant to individual users and thus satisfy their needs better.

Connectivity

Semantic metadata will enable more connected information.

Ubiquity

Internet content/services will no longer be dependent on computers or smartphones are the only forms of access. Information will be available anywhere, anytime, on any number of devices – a process that will be accelerated by the growth of IoT devices.

Edge Computing

As the computing abilities of devices at the network edge like mobile phones, laptops, appliances, sensors, and even smart cars increase, Web 3.0 will increase reliance on these devices.