Earnity’s Dan Schatt and Domenic Carosa on the Basics of Web 3.0

Web 3.0 is the next step forward in the evolution of the Internet. The third generation of online services welcomes and promotes AI-based semantics, augmented reality, and virtual reality experiences—a few new ways individuals can use the Internet. It carries the potential to change the way global users interact with each other, note Dan Schatt and Domenic Carosa, executives of DeFi startup Earnity.

The world has experienced Web 1.0 and Web 2.0, with the latter still being the prominent version of the web. Unlike the previous versions of the Internet, Web 3.0 seeks to provide users with complete control of their online information. In addition, it aims to create a semantic web, with machines having the capacity to read and process content generated by users. Through blockchain technologies, global users can take advantage of decentralization, open digital economies, and free digital identities.

Among the many benefits of Web 3.0 for regular users are relevant advertising, flawless browsing, and enhanced customer support. Siri, Alexa, and smart home options are some of the most popular uses of Web3.0. As fintech veterans and Earnity executives Dan Schatt and Domenic Carosa point out, one of the distinctive traits of Web3.0 is its reliance on 3D graphics. Analysts associate Web3.0 with the spatial web, such as the metaverse, merging the physical, spatial interaction, and digital information layers.

Web 2.0 is controlled by major tech brands and governments, acting as gatekeepers for algorithmic and data processes. Meanwhile, Web 3.0 offers a significant separation from its predecessor for its reliance on open-source architecture that global users can utilize, modify, monetize, and expand without limitations.

It’s critical to remember that Web 3.0 isn’t a high-speed, AI-powered internet, nor is it a virtual universe existing in VR. Web 3.0 still requires a ton of work concerning consolidation and protocol enforcement. Nevertheless, in a few years, global users can experience Web 3.0 with the same universality provided by the social web.