Techfastly July 2022 by Techfastly

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Implementing Web 3.0 in Businesses:

Web3 and Cryptocurrency What Does the Future Hold? by Baba Nadeem

Importance and Future Impact by Toulika Das

3.0 WEB

Preparing Your Brand for Success in Web 3 Era

How To Build Safer Virtual Worlds in the Web 3.0 Era?

The World of Web 3.0 and Its Influence on Social Media

by Yash Modi

by Umar Nabi

by Pallabi Das

What’s Inside p.4

The Origin of Web 3.0: Is It the Future of The Internet?

p.30 Web3 and Cryptocurrency:

What Does the Future Hold?

by Bhumika Dutta

p.12 Implementing Web 3.0 in

Businesses: Importance and Future Impact by Toulika Das

p.22 The World of Web 3.0

and Its Influence on Social Media by Pallabi Das

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by Baba Nadeem

p.38 How Are Brands

Experimenting with Web3?

by Rehan Husain

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by Aftab Alam

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10 Big Tech Companies and How They Are Adopting Web3 Technology by Swarnendu Acharjee

p.54 Preparing Your Brand for

Success in Web 3 Era by Yash Modi

The Evolution of the Gaming Environment in the Web 3.0 Era How have Privacy and Data Storage Evolved from Web1 to Web3? by Ankit Gupta

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How To Build Safer Virtual Worlds in the Web 3.0 Era? by Umar Nabi

Editor’s note

Dear Readers, Centralization has contributed to onboarding billions of users to the World Wide Web and creating the solid, reliable infrastructure that supports it. Simultaneously, a few centralized companies control significant swaths of the Internet, arbitrarily selecting what should and should not be permitted. Web3 is the solution to this problem as it emphasizes decentralization. It is produced, operated, and owned by its users, rather than being monopolized by giant technological firms. As a result, individuals, rather than businesses, wield power in Web3. Web 3.0 focuses on incorporating automation as a crucial component of business technology in order to provide seamless customer service with increased efficiency. Based on the market study and an adequate quantity of data, a Web 3.0 firm must have data-driven insights to satisfy the target audience. Through business technologies like artificial intelligence, machine learning, IoT, and other Web 3.0 applications, it is simple to obtain relevant information about the target audience. Brands interested in cultivating a passionate community through a user-aggregated and blockchain-powered platform may do it naturally while fostering strong brand awareness. Every company can uphold the ideals of a privacy-driven economy, in which individuals choose what information they share and with whom they share it. Big Tech CEOs and leaders, such as those at Meta, Spotify, Twitter, Instagram, Tesla, Amazon, Shopify, and others, have begun to explore how cryptocurrency and blockchain technology may be used in their business models. Furthermore, with significant blockchain platforms (such as Polygon and Circle) already employing some of the best minds in the world, it's evident that new jobs and departments will be required for Web3. With the advent of Web3.0, a framework for restoring trust must be matched with the primary underlying dynamics shaping the new web. They are the growing Internet of things (IoT), the next metaverse driven by 3D graphics, and the semantic web, all of which are aided by AI in all decision-making processes. Web3.0 will be ethical if it is designed with privacy, safety, and representation in mind. Leaders who use these pillars to ride the technology waves will increase trust and, as a result, promote long-term development. Here is your edition. Do read it, enjoy it, and nourish in the knowledge. Happy reading!

Srikant Rawat

Chief Operating Officer, Techfastly

Missed an Issue? Subscribe and access our Digital issues anytime. www.techfastly.com

The Origin of Web 3.0

Is It the Future of The Internet? by Bhumika Dutta Since the rise of blockchain, we've all heard the term "decentralization" floating about. The general public is aware that the notion of currency has been decentralized via blockchain and that the product is cryptocurrency. What if it was pointed out to you that the Internet, too, can be decentralized? Web 3.0, the subject of our talk today, makes it feasible. Web 3.0 describes the evolution of web usage and interaction, particularly the Web's metamorphosis into a "Database." The next phase of the Internet will end major businesses' and governments' monopolistic supremacy.

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Making the Internet smarter and processing data with near-human intelligence will highly benefit users.

What is Web 3.0? Web 3.0 was initially named Semantic Web by its original creator Tim Berners-Lee. It is a sort of Internet that will operate on decentralized networks such as Ethereum or Bitcoin and employ blockchain technology. It will be a platform that is not controlled by any single entity, yet everyone can trust it since all users will follow the same set of hard-coded rules known as consensus protocols. Making the Internet smarter and processing data with near-human intelligence will highly benefit users. It will create an open, trustless, and permissionless network. It is truly claimed as the "future of the internet".

How is Web 3.0 Formed? Keep in mind that the layers of web 3.0 are recent additions to the current Web 2.0 framework. It is done to remove all constraints imposed by web 2.0, which limited users to merely reading, writing, and creating on the Internet. In web 3.0, however, all algorithms will strive to read individual data and tailor the Internet to the particular user, making it way more convenient! While web 2.0 alters currently commoditized personal computer technology in data centers, web 3.0 pushes the data center out to the edge, bringing edge computing into our 6

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hands. Edge computing comprises the first layer of the semantic Web. In 2025, phones, computers, appliances, sensors, and autos will generate and consume 160 times more data than in 2010. Data is decentralized in web 3.0, which means that users will have ownership over their data. Different data producers can sell or exchange their data using decentralized data networks without losing control, endangering privacy, or relying on middlemen. The second layer of web 3.0 is made up of decentralized networks. You may log in securely and www.techfastly.com

anonymously over the Internet using Internet Identity. Artificial intelligence (AI) and machine learning (ML) algorithms have advanced to the point that they can now make helpful and occasionally life-saving predictions and acts. When built on top of emerging decentralized

data structures that provide today's internet behemoths access to a plethora of data, the possible applications extend far beyond targeted advertising to areas like precision materials, medication development, and climate prediction. As a result, AI is Web 3.0's third and final layer.

How does Web 3.0 Work? Blockchain is at the core of Web 3.0 technologies. Cryptocurrency and NFTs both employ the same technology. Web 3.0 proposes that data be stored in decentralized storage across the Internet rather than on a restricted number of servers as in Web 2.0 apps. Uniswap, Dark Forest, Foundation, and PoolTogether are just a few of the decentralized Web 3.0 programs (dapps) that operate on the Ethereum blockchain.

FIRST LAYER Edge computing comprises the first layer of the semantic Web.

SECOND LAYER The second layer of web 3.0 is made up of decentralized networks.

THIRD LAYER AI is Web 3.0's third and final layer

What Makes Web 3.0 the "Future of the Internet"? The Semantic Web 3.0 claims to better organize "the world's information" than any Web 2.0 application. It improves online technology by letting users produce, distribute, and link content through search and analysis based on the ability to comprehend the meaning of words rather than keywords or numbers.

Lastly, The foundation for Web 3.0 will be different. We've become accustomed to the "browser and website" approach.

In Web 3.0, cryptocurrencies are envisioned as a way to recompense content providers, who would get a token every time someone viewed their work. Smart contracts will facilitate application sharing, transactions, and censorship-resistant peer-to-peer file storage. It would involve a complete shift in corporate behaviour, as well as consumer and producer empowerment. Because it aspires to blur the boundaries between real and virtual worlds by reimagining graphics technology and placing threedimensional (3D) virtual worlds or metaverses into sharp relief, some visionaries refer to Web 3.0 as the Spatial Web. Three-dimensional design (3D) is widely used in Web 3.0 websites and applications. Not just in futuristic gaming applications like Decentraland but also in other fields like health, real estate, and e-commerce, 3D visuals provide a new degree of immersion. Museum tours, computer games, e-commerce, geographical settings, and other applications all employ 3D visuals.

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Browser plugins assist us in a variety of ways, including reducing web pages, filling in passwords, and adblocking. Individual users will begin to conceive of what we now refer to as a browser as a form of an operating system that executes applications

on the semantic Web. What we now call plugins will become apps, and while they will still be able to display documents and videos, some will be much more advanced. Users will be able to purchase and create bots that serve them directly in Web 3.0, similar to how hackers and some websites do now.

Can Web 3.0 Live Up to Its Name? Decentralization will aid the Internet's growth by allowing it to be accessed from everywhere, perhaps allowing individuals who have never used the Internet to do so. Many of the shortcomings of Web 2.0 will be addressed in Web 3.0. Because of semantic metadata, information is better connected with Web 3.0. As a result, the user experience advances to a new degree of connectivity, utilizing all available data. Web 3.0 essentially takes the Internet one step further by making it available to anybody, everywhere, at any time. Because IoT will bring forth a variety of new sorts of smart gadgets, Internet-connected devices will no longer be restricted to PCs and cellphones, as they were in Web 2.0. As a result, Web 3.0 has the potential to be the Internet's transformative future.

Your identity, the majority of the goods you own, all of your data, and every software capability you have a right to utilize will all be connected and able to work together in the end.

We're On The Verge of Web 3.0. 12

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Implementing Web 3.0 in Businesses Importance and Future Impact by Toulika Das

The internet is a spectacular technology that has delivered on all of its promises over the last few years. The internet has transformed education, private communications, urban development and management, and, most importantly, the way we do business in a brief time. The best aspect is that the internet is still in its development stage, and the future potentials are bright. 13

If you ask any expert about the state of the web, they'll tell you that we're on the verge of Web 3.0. But what is Web 3.0, and how will it affect our lives, if at all? The third generation of online technology, known as Web 3.0, is here to stay. Although the technology is still in its early stages and there is no universally accepted definition of what it is or what it implies, it will be one of the most critical technologies for organizations in the future. So what impact will Web 3.0 have on how we use the internet and on businesses? Let's find out.

Web 3.0 will provide a quicker, more intuitive web experience

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What Is All The Buzz Around Web 3.0? The definition of Web 3.0 differs from situation to situation, although it is generally regarded as the third generation of the internet. Web 3.0 is often referred to as the semantic or geographical web. If you divide the internet's growth into two halves, the first being plain online pages and the second being applications, social media, and mainstream adoption, the emerging blockchain-based web would be internet 3.0. It is a more user-friendly, safe, private, and wellconnected internet. Web 3.0 is distinguished by creating a virtual space within the internet via websites such as immersive digital shopping malls, which allow users to interact with one another and purchase things. The 'semantic web,' which analyses and uses user data and

behaviour to provide a more personalized online surfing experience, has emerged due to leveraging the power of big data as well as machine learning. A fantastic example of this in action may be found in advertising, where advertisements for things you are actively interested in following you across the web. It allows personalization and the semantic web, which provides a foundation for information to be repurposed and shared more readily among programmes, communities, and businesses. However, several experts predict that Web 3.0 will provide a quicker, more intuitive web experience, with the potential to forego command-line search keywords in favour of organically speaking to the likes of Google.

Critical Competitive Advantages of Web 3.0

Semantic Web The semantic web will help in 'educating' the computer on what the data means, allowing artificial intelligence to grow and fully use the material. The main idea is to create a spider network of information throughout the internet to help people comprehend the meaning of words via search and analysis.

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Improved Personalized Browsing Experience Web 3.0 gives everyone a significantly more personalized browsing experience. Websites may automatically change according to our device, location, and any accessibility needs we may have, and web apps will become extremely aware of our usage patterns.

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Along with blockchain technology, AI is the newest and most impactful technology on the market right now. In computer science, artificial intelligence, often known as machine intelligence, is simply intelligence or learning by computers. When combined with natural language processing in Web 3.0, computers can now discern information like people to give faster and more relevant results. Consequently, they grow more intelligent to meet the needs of various users.

Integrating business technologies such as blockchain technology can improve the commercial applications of Web 3.0. For example, blockchain in Web 3.0 enables the costeffective shifting and transfer of digital assets across company borders. Blockchain advantages include eliminating minor criteria such as gender, regional location, and many more.

Artificial Intelligence (AI)

The Advantages of Blockchain

Web 3.0 is all about web users creating more digital material than ever before.

Web 3.0 application gives new chances to become agile and adaptable to take risks efficiently and successfully.

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IoT Smart Gadgets

Enhanced Customer Relations

Smart IoT gadgets can only be improved by incorporating Web 3.0 for intelligent and smooth functionality. This Web 3.0 application gives new chances to become agile and adaptable to take risks efficiently and successfully. Company technology must provide new avenues for exploring and expanding the business sector.

When implementing Web 3.0, every transaction is recorded in a decentralized ledger visible to all parties involved, making businesses directly accountable to their consumers. Businesses may leverage this transparency to foster trust and long-term consumer connections. In addition, customers know that the information is legitimate and has not been changed since blockchain data is immutable.

3D Graphics As the internet progresses from a simple two-dimensional web to a more realistic threedimensional cyberworld, Web 3.0 will significantly affect its future. Web 3.0 websites and services, such as online gaming, e-commerce, and real estate, make extensive use of threedimensional design.

Insights Based on Data A Web 3.0 firm must have data-driven insights to satisfy the target audience based on market research and adequate data. Business technologies such as AI, machine learning, IoT, and other Web 3.0 applications make it simple to obtain essential information regarding the target audience.

How Have Major Companies Adopted Web 3.0 To Gain A Competitive Edge? Web 3.0, powered by today's most disruptive technology - Blockchain – will revolutionize internet infrastructure and influence how organizations function. Web 3.0 technology will provide people control over their data. For example, people will be able to choose whether to share or sell their information. Advertising fraud will also be eliminated by Web 3.0 technologies that authenticate impressions and click with the user's identification. Streaming services like Amazon Prime and Netflix are top-rated and profitable these days. This sector, however, confronts hurdles linked to copyright concerns and equitable reward distribution to marketers and content providers. Smart contracts in web 3.0 can aid in the resolution of these difficulties. Unlike Web 2.0, Web 3.0 offers the prospect of filling the gap between

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a user's online presence and their actual person, which means you'll be able to leave anonymous comments on postings and make purchases without purchasers knowing your identity. This implies that users may make transactions and download information and photos without their true identity being revealed. Blockchain technology streamlines the login process for your website's visitors. For example, consider how often you've used your Facebook profile to sign in to websites. Blockchain technology works on the same principle as Facebook, but the difference is that, unlike Facebook, nobody owns your data but you. From a commercial perspective, your customers will still be able to sign in quickly on your website, and you will never have to worry about safeguarding their data for them because it's already more secure.

Since blockchain technology is recognized for its vital security requirements, Web 3.0 may potentially prevent hacking. According to IBM, blockchain is very less likely to be hacked due to end-to-end encryption of documents. Another layer of protection that prevents hackers from attacking your website is making the data anonymous and demanding authorization to view it. Blockchain technology is already being used for security by companies like Apple, Google, and Facebook.

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Some companies already implementing Web 3.0 in their business models are as follows:

BitPay is a crypto payment management tool for individuals and companies. Founded in 2011, BitPay enables retailers to accept Bitcoin payments for various goods and services. It offers hosted checkout, shopping cart plugins, billing solutions, mPOS software, etc. In addition, it provides payment cards and a digital wallet to customers for payment management.

Helium is a bitcoin mining solution based on hardware. It links lowpowered equipment to a single gateway and transmits encrypted data over the internet. It also pays people who link-time machines and gateways. It has received stock backing from many renowned venture capital companies. Helium was founded in 2006 in San Francisco.

Terra is a payment infrastructure built on the blockchain. It provides a price-stable cryptocurrency that is utilized as a payment method. In addition, it provides a decentralized asset whose value is derived from transaction fees collected on the Terra network. This company was established in 2018 in Seoul, and it provides a reserve comprised of decentralized assets. The token may be used to pay with cryptocurrencies on e-commerce sites.

Web 3.0 is the future of business, and understanding how it works is crucial for entrepreneurs, corporations, and organizations. Businesses cannot afford to fall behind on current market trends. Business choices must be made with prudence, keeping in mind that the future is now and continually renewing.

Is Web 3.0 The Future of Businesses? In several ways, the internet has revolutionized the world. Web 3.0 promises a significant transformation to the internet, stressing user privacy – a problem that has been discussed but not effectively handled for some time. Web 3.0 is critical because it allows businesses to simplify their processes by eliminating intermediaries and connecting computers directly. This innovation improves collaboration and communication among employees, partners, and customers, resulting in a more efficient company. Web 3.0 is all about web users creating more digital material than ever before. This is why businesses who are already on the Web 3.0 bandwagon first are more likely to win over their consumers by providing innovative, secure content solutions and an improved onboarding journey. Overall, Web 3.0 allows businesses to operate more freely, develop faster, and provide a better customer experience. 21

The World of Web 3.0 and

Its Influence on Social Media

by Pallabi Das

Humans seek new ways to develop and grow their lives and surroundings. We live in a fast-paced world where almost everything is digitized and developed. The technology revolution has helped humans explore the endless possibilities of creating and enhancing platforms for better user experiences. It all began in 1989 in the form of Web 1.0, and today we are on the verge of achieving a new height in terms of Web 3.0. In 2014, Gavin Wood, the co-founder of Ethereum and inventor of Polkadot, introduced the idea of Web 3.0. It focuses on bringing changes to the world of social media and cryptocurrency trading.

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In the course of Web 3.0's development, you will experience a multitude of benefits and transformations, but the world is yet to be familiarized with all these changes. As time passes and developments take place, you will soon be aware of it. For now, this article will introduce you to Web 3.0 and how it's a gamechanger in terms of decentralizing social media. But before you read further, here's exactly what you need to know about Web 3.0.

Web 3.0 users will reach a point on the internet where every company is run by a decentralized group, specifically termed DAO

What is Web 3.0? In comparison to Web 1.0 and Web 2.0, the latest Web 3.0 is totally contrasting. Web 1.0 users could use the internet mainly in a read-only mode, and no interaction with the virtual world was available. It then evolved into a higher version with enhanced features in Web 2.0. It allowed users to interact with the internet because of developments in web technology such as JavaScript, HTML5, css3, etc. During this era, companies created interactive web platforms like YouTube, Facebook, Twitter, and many more. Web 2.0 could not guarantee a decentralized platform offering users total privacy.

But today, Web 3.0 is contemplated to be the latest evolution of the internet. It uses artificial intelligence, blockchain, and decentralization techniques to process data with nearhuman intelligence. These characteristics of blockchain contribute to Web 3.0's features, and they have a dramatic impact on social media operations. According to experts, in Web 3.0 users will reach a point on the internet where every company is run by a decentralized group, specifically termed DAO (decentralized autonomous organization). The DAO runs on the blockchain using an algorithm that does not require a manager or third party. 23

Features of Web 3.0

Decentralization

The first key feature is decentralization. With Web 3.0, machine learning and artificial intelligence drive decentralization, while blockchain technologies enable blockchain transactions. Blockchain helps to centralize data storage while establishing trust with the virtual world. Consequently, it lets users access data relevant to their preferences without requiring permission from third parties. This would allow users to have greater control over the information that companies like Google, Twitter, and Meta hold.

Web 3.0 lets users access data relevant to their preferences without requiring permission from third parties.

Direct Interaction

The second feature is entirely trustless and permissionless. It implies direct interaction between participants without needing an intermediary or a governing body's permission. Consequently, it lets users access data relevant to their preferences without requiring permission from third parties.

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Web 3.0 lets users access data relevant to their preferences without requiring permission from third parties.

Artificial Intelligence & Machine Learning

Thirdly, Web 3.0 uses artificial intelligence and machine learning. Through semantic web concepts and natural language processing, computers will be able to comprehend information like humans. By applying semantics to search and analysis, web technologies can be improved for creating, sharing, and connecting content. In addition to this, Web 3.0 uses machine learning that mimics how humans learn by using data and algorithms.

Connectivity and Ubiquity

The fourth feature is connectivity and ubiquity. In Web 3.0, the internet will be accessible to anyone anywhere at any time. It uses the internet of things (IoT) to launch various smart devices. The internet-connected devices will no longer be limited to PC and smartphones. The future internet-connected devices will not only be limited to computers and smartphones like Web 2.0 but also bring forth many new types of devices that work on the fundamentals of IoT. 25

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DApps offer built-in payment layers, which eliminate undesirable third parties and unwanted expenses. Here's How Web 3.0 Will Revolutionize Social Media

With a decentralized method, Web 3.0 will divide the ownership of channels among all participants. These new centralized networks will be based on blockchain technology, the same as Bitcoin and Ethereum. It is effectively a transparent digital ledger that can record transactions that cannot be altered. This decentralized technology even tinkers with data privacy by allowing you to choose whether you want your information to be available to the public. 27

Web 3.0 comes with a new form of mobile transactions in the form of DApp. DApp will bring a paradigm shift in the world of social media. Now here a question arises on how DApp social media varies from the existing social media of Web 2.0? You might be familiar with social media applications like YouTube, Twitter, Facebook, and Instagram, which are part of Web 2.0. But with Web 3.0, decentralized applications would provide better transactions between creators and developers using blockchain technology. The social media platforms you currently use earn huge money through the content posted by creators, yet, the creators 28

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receive minimal value for it. Web 3.0 social media platforms like Steemit, Hive, Hyper, Rekt.news, Mirror.xyz etc. will alter this and provide better financial rewards to the content creators. DApps offer built-in payment layers, which eliminate undesirable third parties and unwanted expenses. Content creators can also sell their content or monetize their content using NFTs. You can purchase and sell NFT tokens to own unique digital items. NFT tokens represent almost any kind of digital item, including arts, graphics, music, videos, images, etc. Several notable NFT sales have occurred recently, including Jack Dorsey, CEO of Twitter, selling www.techfastly.com

his first tweet and Elon Musk selling a song about NFTs. You can use platforms like OpenSea, Nifty Gateway and Rarible for NFT transactions. One of the major advantages of Web 3.0 will be that you can own and control the social media content you create, and the value you create can also be divided as per the agreement between them and the platforms. Even the multifaceted means of generating income will enable creators to reach out to a larger audience. Web 3.0 ensure that it provides an enhanced user experience by analyzing users' social media posts, comments, and likes which

are vital to enable content recommendations. According to experts, Web 3.0 will give you the freedom and authorization to have complete access to your data. You can easily access your data from anywhere and at any time. Finally, Web 3.0 will feature better and more advanced data privacy since third parties will not be involved. Based on decentralized networks, Web 3.0 will revolutionize the economy, transform the delivery and consumption of goods and services, and alter the way businesses operate, thereby transforming culture, society, and individuals.

Web3 and Cryptocurrency What Does the Future Hold? by Baba Nadeem

e are back in the cryptocurrency world, aren’t we? Most of us are perplexed about the real deal amidst the pressures of global polarities and governance concerns. The questions revolve around the fundamentals of “encrypted” technology. While the majority of the world is focused on new investment prospects, cryptocurrencies and blockchain should be viewed as the structures of a larger, more complex system, i.e., Web 3.0. Web 3.0 is a new internet generation that seeks to be a divisive version of the virtual

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world where users can communicate intelligently and without having to worry about centralized data clusters. Blockchain technology is a visual aid for making web development more accessible and less prejudiced. Within a few years, when the blockchain takes shape, the crypto realm might become an extremely powerful space. Cryptocurrency trading pioneers like CoinSwitch and Kuber may pave the way for cryptocurrency to become more than just a profitable financial instrument.

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About Web 3.0 Web3 is a possible future version of the internet that is based on social blockchains, a record-keeping technology that has been used to facilitate bitcoin transactions. Web3’s appeal is that it is fragmented, meaning that consumers do not have access to the internet through third-party services like Google, Apple, or Facebook, but instead own and control a portion of it. Web3 does not require “permission” in the sense that the central authority has no say over who uses the services, nor does it require “trust” in the sense that intermediaries cannot assist in visible transactions involving two or more parties. Because these agencies and mediators are doing the majority of the data collection, Web3 technically protects user privacy better. Of course, while this is a utopian picture of Web3 envisioned by blockchain engineers and supporters for the future, it may not be as equitable in practice. Decentralized finance, also known as DeFi, is a component of Web3 that’s gaining traction. It entails conducting real-world financial transactions on the blockchain without the help of banks or the government. Meanwhile, a number of huge corporations and venture capital firms are pouring money into Web3, and it’s hard to imagine that their involvement won’t result in centralized authority.

Core Concepts of Web3 Although it’s difficult to give a precise explanation of what Web3 is, it is guided by a few basic ideas.

Web3 is decentralized Instead of centralized companies controlling and owning significant swaths of the internet, ownership is divided among its creators and users.

Web3 has no permissions In Web3, everyone has the same opportunity to engage, and no one is left out.

Web3 offers a built-in payment system Instead of relying on the outmoded infrastructure of banks and payment processors, it uses cryptocurrencies for all transactions.

Web3 is trustless It operates through incentives and economic systems rather than relying on trusted third parties. 31

The Sudden Buzz Around Web 3.0 Most of the buzz seems to be coming from the cryptocurrency market that would presumably gain from a more reliant internet on their technology. Some of the talks derive from a few well-known companies, such as Reddit, taking measures to develop Web3 services and platforms ahead of schedule. CoinDesk reported in late October 2022 that GameStop is looking for a “Head of Web3 Gaming” as well as software engineers for an unnamed NFT platform. There has been a lot of talk about how Web3 could improve video games by letting players more easily buy and trade in-game objects or earn tokens that give them greater control over how the game is governed. However, the Verge speculated that GameStop might just be using terms like “Web3” and “blockchain” in its job

Web3 could improve video games by letting players more easily buy and trade in-game objects or earn tokens that give them greater control over how the game is governed.

postings in order to attract the same kind of alternative investor support it received in January. A more recent development was the venture capital company Andreessen Horowitz’s Web3 lobbying drive in Washington, D.C., in early October 2022. Web3, which has invested heavily in cryptocurrencies

and other blockchain technology, has sent executives to the White House and Capitol Hill to promote Web3 as a solution to Silicon Valley consolidation and to propose rules for the expanding virtual world, according to the business.

How Will Web 3 Boost the Cryptocurrency Market?

Cryptocurrencies will become more widely used as a medium of exchange in the future, but the development of the basic blockchain will also become more prevalent. Individuals and businesses will benefit from Web3, which will give them more secure data, more opportunities to build new goods and services, and more seamless integration of technology into their daily operations. This isn’t an exhaustive list: new applications will likely arise as blockchain technology matures and more people adopt it.

Here is what we could expect in the cryptocurrency space if we turn the clock back to 2030.

Widespread Trust

Cryptocurrencies have had trust issues for a long time. The problem has been made worse by the recent drop in the price of Bitcoin and other cryptocurrencies. However, in the realm of Web3, the memory of today’s volatility and dubious cryptocurrencies will no longer be as respectable as it is now. The same technologies that powered Web3’s rapid growth make it prone to the risk of being misused by bad players. That doesn’t suggest that crypto is unlawful; it means that it’s going through challenges with its expansion. There is already a means to construct secure applications on blockchains today, similar to Wikipedia in the Web 2.0 era; since the code is open-source, it can be checked, and anyone can make updates. Even now, stealing money from the blockchain is quite challenging.

There is already a means to construct secure applications on blockchains today, similar to Wikipedia in the Web 2.0 era

However, there’s no standardization or a single entity that applications run through before being released. This is beneficial to innovative methods, but it is detrimental to consumer confidence. A cooperative security framework will be used to attain equilibrium by 2030. People will no longer be concerned about whether or not they have invested their money in unlawful operations, and as a result, they will be more enthusiastic about digital assets. 35

Integration with daily activities

Today, we have the option of walking into an Amazon Go store, buying what we need, and leaving without paying at checkout. This is the way shopping will be in the future, although payments will remain tied to accounts, applications, and traditional currencies for the time being. Automatic payments will be available everywhere by 2030 and will no longer be restricted to a single operating system or currency. On the way home, you can jump in the selfdriving car, watch a movie, and stop for a bite to eat without worrying about how you’ll pay. Crypto technology is ingrained in our daily lives in a broad sense. These systems will operate in the background, allowing data and people to flow freely. The widespread availability of cryptocurrencies will also benefit the market. With a corporate debut, exchanges like Coinbase and Nasdaq can simultaneously offer equities and digital tokens.

More people will be able to invest in assets that were previously unavailable when the traditional and crypto markets merged. 36

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What Does the Future Hold for Cryptocurrencies? Despite their significance, cryptocurrencies are still viewed as a unique way to trade money and an investment opportunity. However, the crypto players who are riding the blockchain wave are building Web 3.0, and the ecosystem as a whole is capable of developing the necessary resources and apps. While it may appear that investing in cryptocurrencies or utilizing them to

simplify transactions is beneficial, the future should not be constructed solely on these characteristics. Instead, despite trade, investment, and exchange rates, crypto players will continue to engage in the rebirth of Web 3.0. Finally, trading and investing in cryptocurrencies might be a sensible decision. Web 3.0 should gradually influence the minds of individuals who are uncomfortable with the concept. 37

How Are Brands

Experimenting with Web3? by Aftab Alam

When it comes to the Web3, some people see it as a way to monetize, some see it as an organizational tool for the future, while others see it as a scam. Companies are currently implementing a variety of value-creation strategies utilizing Web3 capabilities, from enhancing brand recognition to testing new product ownership models. Both technology advancements and innovative approaches to business strategy are reflected in these new projects.

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In order to obtain a better understanding of consumer behaviour, early users of Web3 technologies are employing them to track customer journeys and engage in customer communities more precisely and competitively. This article explores three different approaches to Web3, namely virtual products, hybrid products, and decentralized ownership, with the goal of demonstrating how each of these Web3 strategies has the potential to deliver immediate commercial advantages to businesses. Brands may take advantage of this new era of the internet by experimenting with each and every one of them.

These initiatives aid in establishing a company's brand and increasing supply chain and distribution chain transparency, hence enhancing corporate governance and sustainability credentials.

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Virtual Products An increasing number of businesses are working on the creation of their very own Web3 products, most frequently with the assistance of preexisting virtual asset manufacturers and platforms. This could be anything from real estate in Decentraland to characters on Roblox or skins for Fortnite to non-fungible tokens (NFT). The company is the one responsible for creating the assets and retains complete control over how those assets are displayed and used in virtual worlds. These trials attract younger people because they provide them with pertinent information about their behaviour, which is one of the reasons why they are so popular. Gucci & Balenciaga, one of Kering's premium holding businesses, has a Web3 team and has launched many metaverse activities. Users will be able to make use of their avatars to explore the "Gucci Garden," which is a commercial virtual environment built in conjunction with Roblox. As part of the event, a digital facsimile of the real-life Gucci bag was auctioned for 350,000 Robux (Roblox's cryptocurrency), or $4,115 in real-world cash. Ralph Lauren partnered with Roblox to offer virtual winter clothes that avatars

may try on at Roblox stores for the quarter ending December 2021, and the company ascribed its strong results to the campaign and its investments. There is a drawback to selling digital items in that they can only be used on the platforms on which they were created. In Roblox, for example, you can wear the Ralph Lauren jackets, but you can't wear them in Fortnite or other digital environments. Only in Decentraland can you find virtual assets such as fashion company Philipp Plein's building complex. There is a barrier to broader user acceptance and better usefulness of brandgenerated tokens and properties because of interoperability issues amongst Web3 systems. It's also challenging to monetize Web3 assets. Some people think of artifacts like NFTs or game skins as "PR experiments," but they don't really make or produce them. Customer intelligence holds the most immediate promise for digital products in the near future. There are a number of ways that virtual assets may be utilized to assess the attractiveness of a product style or design swiftly. Companies can then transform popular virtual assets into tangible ones. 41

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Hybrid Products One of the ways firms are utilizing Web3 is to add digital content to their physical products. As an example, consider what happens if: Transaction protocols that automatically perform legally necessary events and activities according to defined parameters are recorded on the blockchain in the first place. In addition to the product's origin, supply, manufacture, and design, this information is unchangeable once it is registered on the blockchain. Because of its distinctiveness and genuineness, the object becomes a collectible. This allows businesses to protect themselves from counterfeiting and reap the benefits of secondary sales, which have previously been impossible to achieve. When the NBA's Top Shot shop releases video footage of particularly memorable shots, like Steph Curry's clutch three-pointer or LeBron James' famed slam, it turns them into NFT "trade cards." A blockchain firm, Dapper Labs, partnered with the NBA and its players' union in 2020 to create virtual trade cards that feature not just a highlight clip but also team-specific artwork, game and player data, a description of the action, a unique serial number, and extra details. The aforementioned examples show how firms experiment with hybrid items. Secret Level generates NFTs of iconic TV and film moments that can be bought, collected, and exchanged on the blockchain. Anybody's limited-edition hoodies owners can trade NFTs for resellable, shareable, or redeemable sweatshirts. Coach's NFT collection for the 2021 holidays

supplied buyers with a distinctive bag. Adidas offered special access to merchandise and sales, invites to additional events, and personal styling services to fashion shows and collection launch guests via blockchain. Ralph Lauren's Winter Escape is a holidaythemed metaverse experience created by Roblox and Ralph Lauren.

The hybrid strategy benefits brands in two ways: Verifiable information regarding the sources of products is one; community-building is the other. On the other side, generating currencies and storing data on the blockchain has energy and environmental concerns. Carbon emissions from bitcoin mining—solving mathematical problems that authenticate transactions in the currency—in the United States are anticipated to reach over 40 billion pounds. You also need people who are knowledgeable about cryptocurrencies and the blockchain, interdepartmental communication, and customer-relationship management programs that are state-of-the-art so that activities may be recorded on the blockchain and rewarded in order to generate and maintain these goods.

Shared Ownership A new paradigm is emerging in the field of brand management. The blockchain allows several clients to share ownership of something rather than a company selling a single item to a single consumer. As technology advances and experimentation continue, every marketer should understand how distributed ownership works because it has the potential to transform both how customer communities are managed and how product value is generated and shared. Distributed ownership platforms like Otis let users purchase, sell, and exchange SECsecuritized shares of collectibles like artwork, comic books, jewelry, or fashion clothing items in order to develop alternative asset portfolios. Otis or a similar site allows consumers to acquire a small portion of Michael Jordan's shoes when he shattered the backboard glass in a 1985 game, for example. If the group of shareowners collectively agrees to sell the shoes, then the customer will be able to make a profit from the sale of their share. This kind of governance may have several effects on historical brands—first, a multiperson cart. Suppose the identical item has two prices: an individual price and a shared shopping cart price. The latter option allows buyers to join a club and negotiate for savings. Pinduoduo uses a public shopping cart. Secondly, mid-and premium-tier firms may promote group buying, which provides them with real-time information on client demand. Real-time data is based on individual purchase and browsing history but also on the purchase 44

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and browsing history of everyone in the buying group. As a result, companies may negotiate better deals with producers based on this information. Customers benefit from better pricing, while businesses benefit from fewer worries about having to sell off extra goods (and devalue their brand). In the third scenario, for luxury brands, consumers acquire a piece of jewelry or a handbag that is either handed down through the group or resold at a profit for the benefit of the group. One example of a distributed ownership platform is Friends with Benefits, a selfdescribed "headless media community lifestyle brand" network in which individuals have varied levels of access and governance www.techfastly.com

authority depending on the number of tokens they have earned or acquired. Access to the FWB Discord channel, a subscription to the FWB newsletter, and the ability to attend inperson events are all included in membership privileges. FWB is a completely user-driven website that has evolved from a music discovery platform to a company incubator to a gathering place for bitcoin investors. Every activity is recorded on the Ethereum blockchain and verified by network fee-paying users. Customers gain from dispersed ownership as a method of producing profits on production and property rights for brands. Customers receive tangible benefits and a stake in their preferred brands as a result of this kind of ownership. The value of a token or product

rises as a result of more market activity, which draws new participants and generates even more market activity. It is a self-reinforcing system. Having said that, the positive feedback loop that connects the value of a product or token to the activity on the market is not there when there is little or no demand for the product or token. Another concern associated with ownership fragmentation is the loss of brand control. Effective decentralized systems are still only suggestions in the majority of circumstances. In other words, all of these Web3 techniques are still in their infancy. It's possible that early tests might become a longterm strategy if businesses better grasp the potential and difficulties and enhance their approaches. 45

Big Tech Companies

and How They Are Adopting What started as a read-only Web3 Technology by Swarnendu Acharjee

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medium of gathering information in the 80s, the World Wide Web(WWW) has evolved into a humongous new avatar, Web 3.

Today, we are at a transition phase wherein web 2 and web 3 are contemporary to each other – with web 2 slowly phasing out and web 3 taking center stage. From IoT to blockchain, web 3 has started to take place in our lives, and the influence is going to increase in the years to come. We already see people getting attracted to the likes of Decentralised Finance and the world of Metaverse gradually. Innovation in the field of IoT by Samsung, Apple, etc., is also gaining popularity. Looking at the opportunity, even Facebook rebranded itself as Meta! Let's learn about the top ten big tech companies and how they are adopting Web 3 technology.

Head of Instagram, Adam Mosseri, has also announced its plans to bring in NFTs on Instagram and Facebook.

Meta

Ever since Facebook rebranded itself, Meta has created a lot of buzz around VR, AR, Metaverse, and what the future might look like. Although its experiment with cryptocurrency didn’t work, the development of Metaverse with the oculus ecosystem is well known. According to the USPTO, US Patent and Trademark Office, the company has filed eight new trademark applications regarding various web3-related projects, including cryptocurrencies and the Metaverse. It is actively working to integrate social media, Decentralised Finance, and Virtual Reality. Head of Instagram, Adam Mosseri, has also announced its plans to bring in NFTs on Instagram and Facebook.

According to the USPTO, US Patent and Trademark Office, the company has filed eight new trademark applications regarding various web3-related projects, including cryptocurrencies and the Metaverse.

Twitter

Although it seems like Twitter is divided on its approach to adapting web 3, with Elon Musk and Jack Dorsey both openly criticizing it, the platform has identified the growing buzz among its users about cryptocurrency and NFTs. Twitter Blue users can even add an NFT as their profile picture. This adoption might hint at which direction the company might be moving.

Twitter Blue users can even add an NFT as their profile picture. This adoption might hint at which direction the company might be moving.

Oracle

Leading cloud computing platform Oracle has come up with a blockchain service. A description of Oracle blockchain on their website reads, “Blockchain provides a collaborative framework for sharing reliable data. Oracle offers easy ways to adopt blockchain technology, including a cloud service, an on-premises edition, and a SaaS application for the supply chain.” Oracle has plans to diversify its blockchain platform through smart contracts, distributed ledger technology, and so on. It also provides tutorials for enterprises to adopt tokenization and the latest blockchain technologies in cloud computing.

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Samsung

Samsung’s support for dapps and blockchainbased games is well known. A leading player in the IoT segment, it is also well known for delving into the Metaverse with the successful launches of Samsung 837X, their immersive Metaverse experience in Decentraland, and Samsung Superstar Galaxy on Roblox. Recently, it also launched the Samsung US in Discord, which is a leading platform for web 3 itself. The Samsung US Discord server is specially designed as a fun, interactive way for fans, gamers, and creators to interact and get exclusive access to products, events, non-fungible tokens (NFTs), and other Web3-based wonders. “Virtual communication platforms, like Discord, enable us to cultivate a community where both current Samsung enthusiasts and brand new fans can unite. As these enthusiasts anticipate an NFT drop, exclusive product giveaway, or virtual event, we get to explore this new frontier alongside them, allowing us to experiment, learn and ultimately, shape our Metaverse future – it’s tremendously exciting,” said Michelle Crossan-Matos, CMO, Samsung Electronics America.

Google

Google is a frontrunner in making affordable VR goggles accessible to the masses with its Google cardboard. We can also see the increased application of VR and AR technologies in the latest Android smartphones. However, web 3 is not only about VR, AR, and Metaverse; it also promotes a decentralized way of doing things that don’t go well with the business models of some of the tech giants, including Google. We have seen it somehow side-lining itself from the Web 3 technology. Although Sundar Pichai has shown interest in checking out methods for blockchain technology to include higher assistance to popular services such as Google Maps and YouTube, and in discovering methods to “support customer needs” through blockchain-powered platforms, we are yet to see Google delve deep into Web 3.

Sundar Pichai has shown interest in checking out methods for blockchain technology to include higher assistance to popular services such as Google Maps and YouTube

Tesla

Tesla’s Web 3 plans are greatly publicized. It is one of the forerunners in IoT integration in cars. Moreover, by developing AI systems for driver assistance and innovation in self-driving cars, Tesla shows its interest in the wave. It is also one of the first car companies to accept payment in cryptocurrencies. Moreover, it is supposed to deploy blockchain technology to provide a platform that aims to create a “open, transparent, and global registry” to track cobalt from mine to battery, assuring that the volume of any traceable material is accounted for in the production of EV batteries.

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Nvidia

Nvidia is among the leaders in developing the infrastructure that powers web 3. Recently, it has partnered with Flux to bring Web 3 to “the next level”. Flux is an ecosystem and suite of decentralized computing services and environment agnostic development systems for building decentralized applications according to developer preferences. Nvidia produces powerful computing chips needed for integration with web 3.

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Microsoft

Microsoft has recently partnered with Astar Network, which is a Polkadot Smart Contract Hub for WASM and EVM. has announced that it will assist Astar Network in building and implementing the Web3 future through the Astar Incubation Program. It is supposed to assist businesses in adopting Web 3 technologies. Microsoft is also the newest investor in Ethereum co-founder ConsenSys. Recently, its acquisition of Activision Blizzard also created a lot of buzz around its dive into Metaverse.

More and more companies are investing in Web3 ventures. According to Crunchbase numbers, last year saw about $17.9 billion invested in 1,312 deals in blockchain-related startups. That number dwarfed the $2.1 billion in 790 deals in 2020 and even the former high of $4.4 billion in 1,223 deals witnessed back in 2018. Change is constant, and Web 3 is the latest wave of change in how the Web works. Although what we expect from and imagine of Web 3 is far from materializing, a major concern remains in making it accessible to the common people. The development of 5G in developing countries will certainly boost its adoption.

Amazon

Much like Oracle, Amazon too is delving into Web 3 with its web services venture. In March 2021, Amazon Web Services announced the availability of Ethereum on Amazon Managed blockchain — a fully-managed service that allows users “to join public networks or set up and manage scalable private networks using popular open-source frameworks.”

10 Sony

It is somewhat apparent that the creator of the PlayStation gaming ecosystem will delve into Web 3 technology, with Metaverse becoming more popular day by day. Last year, Sony filed many patents that would allow it to accept cryptocurrencies for e-sports betting in-game. Sony has plans to integrate the technology not only in PlayStation but also in consoles made by other brands, especially in VR headsets. Consequently, it also has plans to develop infrastructure for NFTs.

Preparing Your Brand for Success in Web 3 Era by Yash Modi

Over the last few years, technology has evolved significantly. It has had a massive impact on the manner people do business. In addition to Web 3.0, Web 1.0, Web 2.0 and social media are core technological waves affecting the marketing domain.

Web 3.0 is considered to be the next growth phase for web businesses

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Web 1.0 was shortly followed by Web 2.0, and things became more interactive; networks and social media became more prevalent. It became possible for human beings to interact with one another through tweets, blogs, and other social media platforms.

Web 3.0 enhances user experience by extending rich and interactive Ad opportunities

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Web 3.0 is all about building meaningful relationships and benefiting all those who are involved. As Web 3.0 is becoming the next big thing, those looking to take their business to the next level must not overlook the application of its approaches. Web 3.0 can significantly enhance the experience by extending a rich interactive environment. It is being considered a great thing since it will now become easy for users to deliver targeted information. People who access certain content must be rewarded well, whether in Bitcoin or any other cryptocurrency.

Decentralized Web & The Marketing Revolution The future always beholds exciting aspects. Things become even more interesting when it concerns the future of the Internet. Web 3.0 is mainly concerned with the next level of the Internet and Internet protocol. According to several industry experts, Web 3.0 is predicted to be a new development and is expected to have several significant implications on society and businesses. So, now the question is, what exactly is Web 3.0 and what happened to the previous Web 1.0 and 2.0? Web 1.0 was the initial wave of the Internet that started around 1989 and came to an end in 2005. It is regarded as the first stage of Internet development when the WWW (World Wide Web)

came into existence and was characterized by static web pages. Then came the second wave of the Internet - Web 2.0, which refers to websites that allow user-defined content and UX integration. Web 2.0 led to a shift in how people communicated and handled information published online. Social media platforms like Facebook, Twitter, and Youtube became more popular. On top, the mobile applications platforms have made it convenient to access information and data while on the move. However, the main focus of Web 2.0 was the capacity of the internet-linked computers, otherwise referred to as servers.

Web 3.0 not only offers personalization but also delivers access to the semantic web.

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Web 3.0 is considered to be the next growth phase for web businesses. It is built on the socially connected and interactive websites of Web 2.0 and is characterized by creating a virtual world within the world wide web through websites such as online or virtual shopping malls. These applications allow users to interact with each other and sell/buy products.

It would be possible to access information from various sources that can affect consumers' buying decisions.

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Web 3.0 not only offers personalization but also delivers access to the semantic web. It offers a framework for reusing information that is shared more easily among programs, companies, and communities. It needs to be understood that the semantic web is not a separate entity; instead, it is an extension of the ongoing version. In the modern version, the information provided is well-defined. As a result, it enables users and computers to interact better with each other. Furthermore, this technology allows content distributors to control online privacy better and extend various means for distributing and sharing information.

Understanding Web 3.0 Web 3.0 is an approach that deals with the web by taking into account factors like emerging technologies and trends. It is not only evolving but also revolutionizing how users perceive the Internet. Web 3.0 enhances user experience by extending rich and interactive Ad opportunities. It would be a great thing for marketers because it makes it possible for them to deliver more targeted ads and come up with a more energy-efficient strategy to advertise products.

Key Features of Web 3.0 1 Semantic Web (SW)

The semantic web allows humans and computers to communicate efficiently. The SW describes metadata content in a machine-readable format.

3 Ubiquitous

Web 3.0 is ubiquitous, i.e., everyone can access it on any device or application. The number of devices attached to the Internet is increasing daily due to IoT, which enables ubiquitous web.

2 Artificial

Intelligence

With the rise of modern technology, NLP (Natural Language Processing) technology helps machines understand, interpret and manipulate human language. These machines or computers are more like humans and can analyze the data in a better manner. As a result, it provides accurate and quick solutions and responses.

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4 Decentralization

In Web 2.0, computers used the HTTP protocol to identify and search information stored on servers. These were usually single servers installed at a specific location. In Web 3.0, the information is stored at multiple points simultaneously instead of at a specific location. Hence, there is no requirement for a data center in this case. So, the most significant benefit of the data center is no need to maintain colossal storage centers controlled by single authorities. Therefore, this approach offers certain advantages, namely: Elimination of Intermediates With the rise of blockchain technology, Web 3.0 has become a unique opportunity to control data and information without the need for any intermediator. Since most social media platforms are centralized, it makes them vulnerable to data breaches and misuse of information. The state of the data ownership is essential for determining the level of freedom on the web.

No Possibility of Server Failure Since there is no central server, there won't be any risk of server failure. Now, this can be a problem for several centralized platforms like Facebook and Google Docs. Decentralization is also essential since it opens the door to fundamental rights and allows the users to have complete control over their data instead of corporations holding it and selling it off to advertisers.

The most significant benefit of the data center is no need to maintain colossal storage centers controlled by single authorities.

No Data Theft or Loss Data theft keeps on taking place all the time. When data is on the cloud, you are bound to come across theft at some point or the other. In addition, the more centralized the system, the more vulnerable we are to data theft or loss.

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No External Authorization There is no need for any external authorization for users to view data. Furthermore, it would increase the user's security and privacy since there would be no need to share private data or information with any third party.

Preparation For Web 3.0 According to industry experts, there is a possibility of a revolution soon. Experts have already seen the signs and initiatives. For example, Facebook has changed its name to Meta, and is investing in Metaverse. Also, recently, Square has changed its name to Block; the reason was to focus on crypto. Web 3.0 will be the next web evolution where website content and users will be interconnected through communication channels and interphases. Such integration allows users to extend a more personalized experience on a particular device or screen with real-time data sharing capabilities.

Some ways to prepare your business for Web 3.0 are:

1 2 3 4 5

FOLLOWING WEB 3.0 TRENDS

ADDING NFTs to the content creation strategy

Starting the development of meaningful connections with customers over

SOCIAL MEDIA USING MEMES as a part of your communication strategy

Creating new

WEB 3.0 KPIS to analyze the impact of the efforts

Effect of Web 3.0 on Business Businesses will probably be highly user-centric and transparent due to their decentralized structure. Users will have the facility to control privacy and data. Those who run businesses would use blockchain technologies to ensure easy access and data transparency.

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In the future, NFTs (Non-Fungible Tokens) will be important content when it comes to digital marketing.

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Web 3.0 Trends No one can afford to be outdated these days. People must make business decisions carefully. It must be kept in mind that the future is here already, and it is continuously getting renewed. Based on the industry, people should focus on 3D assets.

Content Creation If you are focusing on content creation as a marketer, you are doing the right thing and must keep doing it. As of date, there is no particular handbook that can match the current marketing era. It is well known that in the future, NFTs (NonFungible Tokens) will be important content when it comes to digital marketing. It has been observed that there is a massive community for NFTs, and nobody wants to miss the opportunity of including their brand. Although all of these might seem a bit intimidating, you may consider it a new way of connecting with communities and customers.

Web 3.0 and Social Media Social media has been a phenomenon right from the day it was introduced. Over the years, it has grown exponentially; Facebook and Youtube are at the top of the list regarding user popularity. It has revolutionized how people communicate online and how they have introduced new features for improving UX. Web 3.0 is packed with several exciting changes in social media marketing. For example, there are decentralized apps, and there would be no control over user data and information since the structure is decentralized. The reins are in the hands of the users. Web 3.0 is all about building meaningful relationships and benefiting all those who are involved. It is now time for the users to stop considering numbers and look forward to insights that can be helpful in multiple ways. 67

The Evolution of the

Gaming Environment in the Web 3.0 Era

by Rehan Husain

The gaming business has been revolutionized by technological development over the last few decades. The gaming industry is on the threshold of another giant leap, and tech enthusiasts are ecstatic about this development. The transition of the gaming industry from free-to-play to play-to-earn will drastically alter the industry's dynamics.

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In 2021, the gaming business made close to 160 billion dollars in revenue. In the present state of the gaming business, people invest time and energy into playing games without earning a substantial cash return. They purchase several in-game products, develop their characters, reach the zillionth level, etc., but cannot directly monetize their talents or assets in the game. Gaming is now one of the most prominent and fast expanding businesses globally. Technology improvements have made games more accessible and engrossing than ever before, enticing individuals from all walks of life. According to a study of data by Mordor Intelligence, the gaming business was worth USD 198.4 billion in 2021 and is projected to reach USD 339 billion by 2027 at a CAGR of 8.94 percent over the following five years.

The Transformation of the Gaming Industry From Web 2.0 to Web 3.0 Similar to the evolution of money, the internet has undergone various transformations since its inception in the 1980s. The first version of the internet, Web 1.0, included static webpages that confined users to a readonly mode. Web 2.0 ushered in the era of interactive website pages; most popular video games, like Fortnight and Call of Duty, are enhanced for this version of the internet. However, the narrative gradually shifts from Web 2.0 to Web 3.0, often known as the decentralized web.

Powered by blockchain innovation, this internet variant has evolved to accommodate over 400 active video games and NFT exchanges. NFTs reported over $25 billion in sales in 2017 alone, while blockchain gaming accounted for nearly fifty percent of total on-chain activity across all blockchain networks. In contrast to the systematized Web 2.0 gaming economy, Web 3.0 contains decentralized in-game marketplaces that allow users to purchase or sell electronic antiquities. One such community is the Digital Arms NFT sector; this DApp has teamed with several firearms manufacturers to permit the trade of IP-patent protected electronic guns as NFTs. These in-game items may be saved as collector art or gambled on Digital Arms to generate further rewards.

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Free-to-play games have the highest rate of expansion. The fastest-growing games nowadays are free-to-play, most of which are mobile-first. Web3 games may surpass the popularity of freeto-play games in the future. As the gaming business is expanding by 15 to 25 percent each year, new gamers entering the market today may be interested in Web3 gaming. If this trend continues, the audience will be more interested in crypto-related games; nevertheless, children will require parental restrictions. However, since many of us will become creators in the future, play to earn is here to stay and will likely continue to grow in popularity. Multiple studies indicate that millennials and Genz's spend approximately 7 hours and 20 minutes each week gaming. According to reports, GenZ and millennials are choosing to spend more time gaming than on other pastimes such as watching television, listening to music, or even going outside. This is beginning to affect the players' attention spans, which have decreased by as much as fifteen seconds over the past decade, as reported in an article, 'The Attention Economy'.

Blockchains function as immutable ledgers that cryptographically record all network transactions, hence enabling the creation of NFTs.

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Gaming in the Era of Web 3.0 Bitcoin is one of the first Web 3.0 inventions to be introduced; this pioneering digital asset has opened the way for decentralized payment ecosystems and gaming platforms. With NFTs and the Metaverse in play, gaming aficionados may emancipate themselves from centralized gaming environments that provide only immersive experiences with limited options to generate additional cash from ingame stuff. In addition, there are future p2e games that resemble Fortnite and Call of Duty (feature more actionable gaming environments). One such invention is the game Blast Royale, which pits 30 players against one another in a "last man standing" survival contest. Those that win are awarded the $BLST ERC-20 token, allowing them to obtain more in-game goods that may boost performance.

able to sell it to other players either inside the game or outside of it. Blockchains function as immutable ledgers that cryptographically record all network transactions, hence enabling the creation of NFTs. NFTs, in their most basic form, represent data that is verifiably distinct from all other data and may be associated with almost anything, including in-game objects. As a result, any in-game clothing, avatar, piece of virtual land, or another item may be produced as a non-fungible token, meaning they are essentially unique, physical, and maintain value. They may be transferred across several titles and resold to other players on secondary marketplaces. This makes all of these transactions far more similar to investments than pouring money into a black hole.

For gamers who may find it costly to begin p2e gaming, renting in-game things via Balthazar and other sites is feasible. This Decentralized Autonomous Organization (DAO) offers a scholarship program through which interested players may get the necessary resources to participate in p2e games such as Axie Infinity. Web 3.0 may profoundly alter the game business. In the Web 3.0 era, gamers will be able to make money while playing games. In this new age of gaming, if players spend money on an asset, they will own it and be

When a person loses interest in a game or the game becomes defunct, there is no need for them to invest a large sum of money in consumable products. The game's developers could still offer a comparable selection of potential in-game purchases — perhaps even more variety — but at a price, they probably would not accept under the current model. They could then generate additional revenue by running in-game markets and P2P trading, simply charging a small fee for each transaction. 73

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"Show me the incentives, and I will show you the result," Charlie Munger

Let us discuss how this is becoming a reality with the help of the following concepts.

NFTs

Tokens

NFT is a system that facilitates the scarcity and ownership of digital assets, similar to other digital currencies. NFTs may be saved in the wallet and moved across wallets. In blockchainbased games, in-game purchases will be turned into non-fungible tokens (NFTs), allowing asset ownership. Every RPG has many asset classes, including standard, unique, rare, epic, and legendary. In a blockchain-based game, non-fungible tokens will determine the rarity. The best players in the game will gather the rarest NFTs and sell them to other players. Players will be able to retain their NFTs outside of the game, and they will remain theirs even if the game crashes.

Tokens will be the money around which the whole game's economy will revolve. These tokens will incentivize every member in the gaming ecosystem, whether it is the team that creates the game, the community that helps support it, or the people who play it. As the token's value improves, everyone gains. Thus, we have linked everyone's motivations to make the game successful. "Show me the incentives, and I will show you the result," says Charlie Munger. Players will be rewarded for their efforts through ingame tokens and can swap these tokens for real money through exchanges.

Blockchain Blockchains are public, without permission, and unchangeable. Anyone can engage with it and build upon it. Similar to Legos, blocks may be constructed and stacked upon one another. The principles mentioned earlier will fuel the fundamental notion of the Metaverse, which will be built using Web 3.0 technologies. Players would use avatars to represent themselves online and interact with other players, locations, and items. Using blockchain, it would be possible to move objects across games and game worlds, creating a digital multiverse. Simultaneously, the gaming sector will boost its blockchain user base from 100 million to 2 billion.

Some of the latest mergers that are happening around the globe Microsoft purchased

Activision Blizzard with the intention to make the community of gaming accessible to everyone on all devices. The parent company of Dream11 makes its Web3 debut by investing in cricket NFTs startup Rario. Nazara Technologies intends to introduce Web3 cricket games. This year, the Freemium sector will be the primary focus of the gaming company's mergers and acquisitions. Take-Two Interactive made news with its 12.7 billion U.S. dollar acquisition of Zynga, one of the significant mobile social gaming businesses, in one of the largest video game industry acquisitions ever.

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Spending on Blockchain-Based Gaming Undoubtedly, blockchain-based gaming is now a popular investment field, and even conventional institutional investors have started investing in this industry. The previously stated business, Dapper Labs, has raised approximately $857 million and is presently valued at $7.6 billion. They have nearly 50 institutional investors, with Andreessen Horowitz (a16z), Venrock, Google's GV, and Verizon One Ventures being the most famous. The Sandbox, a Hong Kong-based gaming platform that enables players to construct virtual worlds using NFTs, has secured $93 million from investors headed by SoftBank's Vision Fund 2. SoftBank also led a second round of funding for Sorare, a fantasy football

(soccer) platform based on NFTs. Each digital card is registered with a unique token on the Ethereum blockchain. After this round, the French startup secured $680 million in Series B fundraising, valuing the company at $4.3 billion. Forte has completed the most significant fundraising round witnessed in this industry. Forte is a platform that enables game producers to incorporate blockchain technology into their games and allows features like embeddable token wallets, NFT minting and selling, and a variety of additional services geared toward blockchain technologies and the administration of digital assets. Sea Capital and Kora Management spearheaded series B funding of $725 million. 77

How is Metaverse Changing the Gaming Industry? Since its inception in the early 1980s, the internet has experienced multiple incarnations; we are now in the Web 3.0 (decentralized web) age. This most recent iteration of the internet has become an essential pillar in the evolution of the Metaverse. The term "metaverse" was invented by Neal Stephenson in his 1992 science fiction book "Snow Crash" to describe a virtual ecology in which people might live and interact as programmed avatars. What are the repercussions for the gaming industry? Long ago, centralized publishers like Ubisoft and Activision Blizzard were the primary benefactors of the game industry's profits. However, this supremacy is rapidly being challenged by forthcoming Web 3.0 games whose essential infrastructure is NFT technology and the Metaverse. According to a recent analysis by DApp Radar, the number of active blockchain-based games will increase in 2021. This leads us to the function of NFTs and the Metaverse in contemporary gaming. These two components of the crypto ecosystem are constructed on decentralized blockchain networks like Ethereum, Solana, Avalanche, and Polygon. This implies that players do not need a centralized mediator to play a particular game. Instead, one may connect directly to the blockchain environment and play a game of their choosing.

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Will The Craze Persist? "Play-to-earn" games have been an enormous step forward in transforming the time individuals spend playing games into a productive use of their time. The most significant problem remains to make play-to-earn games enjoyable and exciting instead of just another option to earn extra cash. The view of the progression of events is dual. First, many conventional Web 2.0 games and creators will incorporate blockchain technology into their games. This will raise the overall quality and number of games with play-to-earn features and make play-to-earn games more entertaining and diversified. The second prediction is that the playto-earn paradigm of virtual experiences will grow beyond gaming into other verticals of affairs where the emphasis is not on the play but on new methods to generate money in the Metaverse. For instance, service-based markets may emerge in the Metaverse, where 3D artists are commissioned based on the number of voxels they contribute to a piece of land in Sandbox. In conclusion, combining work and leisure is not always recommended. Making money should not be the primary objective of games, but play-to-earn games have set a significant precedent for how monetization might be included in future Metaverse experiences.

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Conclusion Web 3 technologies, such as blockchain, will fuel the fundamental notion of the Metaverse. The Metaverse may also be seen as a simulation of the physical world. Players build avatars to represent themselves online and interact with other players, locations, and items.

other gaming initiatives have found their niche and achieved success. Web 3.0 gaming encompasses a variety of game categories, including RPG, MMORP, E-Sports, and Arcade. These initiatives have one thing in common: they produce value in a centralized manner, which they then utilize to deliver monetary value to players.

When Web 3.0 gaming first appeared on the market, it was play-for-money. This was the pioneering movement that captured the attention of both players and investors. With the popularity of play-to-earn, however,

It is still a new industry, but its expansion has been amazing. The rising interest in the NFT and Metaverse realm has been attributed to Web 3.0 gaming as one of the critical driving causes. 79

How have

Privacy and Data Storage

Evolved from Web1 to Web3? by Ankit Gupta It's been 25 years since the World Wide Web came into existence. And lately, we've seen the birth of a new internet, the distributed web or Web 3.0. It will be faster, more secure, and more decentralized than the original internet that connected people to information in the 1990s. The original internet (or Web1) allowed users to find and access information — which is why it was referred to as an 'information superhighway’.

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The second iteration (Web2) added social media features, giving users more control over how they interacted with content — enabling them to comment on things they liked and share them via their social networks. Today, social media dominates our experience on the web, but it's still built on top of technology developed in Web1.

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Privacy is one of the essential things in our life. It is a fundamental human right, and it's necessary to understand that privacy is not something we have to give up for the convenience of new technology. We know that digital data can be made available to practically anyone, whether we want it or not, and this situation has been prevalent for a long time.

Privacy is an essential human right. But the internet has, for a long time, been a dark and dangerous place in this respect. We've seen countless examples of data breaches and privacy violations over the last decade or so. In this post, I'll explain what changes are coming with Web3 and how blockchain promises to give us a truly secure and private way of interacting with the internet.

Blockchain promises to give us a truly secure and private way of interacting with the internet.

The Need for Privacy We all find solace in being secure, and privacy is one of the fundamental pillars of personal security in the digital world. It's something that all of us deserve, and we need it to thrive as individuals, communities, and as a society. Privacy is vital for security, democracy, freedom of speech and association—and even thought. Privacy, security, transparency, accountability and consent are some of the fundamental human rights in today's digital world. It is crucial to protect these rights in order to create a fair and equal society. Web3 has come up with solutions like blockchain that make it possible for everyone to have access to their own data without being controlled by third parties like Google or Facebook, who store our personal information on their servers where they can sell it off for advertising purposes (a practice known as surveillance capitalism). In this new era of tech, we need to ensure that people have complete ownership over their online presence so that they can use it freely without any restrictions by corporations or governments.

In this new era of tech, we need to ensure that people have complete ownership over their online presence so that they can use it freely without any restrictions by corporations or governments.

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Web 1.0 - The web of connection Web 1.0 is the web of connection. It was built on the idea of a centralized internet and centralized web, where people connect to one another through a single point. The concept of this being a "web" is what made it so easy for people to access information in their browsers. Still, it also allowed those who had power over our data storage to easily control us at their whim without our consent or knowledge.

The first generation of the internet was all about connecting people together through websites, which has become essential in today's society because we live in such an interconnected world where everything is connected with each other via these networks (and even more so since Web 2.0).

Web 2.0: The web of data In the early days of the World Wide Web, it was pretty much just a bunch of information. There wasn't any thought to how that information was organized or shared. Then we got social media: Facebook, Twitter, and Google+ (remember that?), where we could share our data and make connections with other people in a way that wasn't possible before.

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The second web is synonymous with the 'web of apps". This made it easier for people to make their own content and share it with others through social media platforms. Even though this made things easier for users who wanted to create content and share it with others on their terms, there were still some issues with privacy since all the data was stored in one spot, which could be easily accessed by anyone else on the network too. www.techfastly.com

Web 3.0: The decentralized web The next step in the evolution of the web is decentralization: a web where users can own their data, control their identities, and manage content and apps on a peer-to-peer basis. This represents a massive shift from today's centralized model, where companies such as Facebook and Google act as intermediaries to your personal data. Decentralization will enable us to fundamentally restructure how we think about data storage and privacy online. The current paradigm of centralization (which has been around since the beginning of time) involves one single authority controlling everything related to that system or application—that means they control all decisions regarding what gets published or not, who gets access, and when they get access; basically, everything that happens within that system is decided by this single entity (e.g., Facebook). In contrast with this traditional approach, decentralization enables individuals to become responsible for making these decisions instead of relying solely upon large corporations like Google or Microsoft, who have no incentive to protect our information because we're not their customers anymore—we're their product.

Can Blockchain Provide the Answer? Blockchain is a decentralized, transparent digital ledger. It's also an open, distributed database that can record transactions between two parties efficiently and in a verifiable and permanent way. Initially, blockchain technology was created as the accounting method for the virtual currency, Bitcoin. But it has since expanded to encompass many other applications beyond cryptocurrency (including smart contracts, identity management, and supply chain management). Blockchain is essentially a shared database that can be edited by multiple users at the same time through peer-topeer networking without any central authority or server. Blockchain technology is the most secure way of storing and sharing data because it is immutable and robust.

Immutable The data in a blockchain cannot be changed or deleted. Once something is added to a blockchain, it can never be removed. This means that once you store your information on the blockchain, there are no chances of anyone tampering with or manipulating that information.

Robust A decentralized network makes it difficult for hackers to attack it because each node in a decentralized network contains only part of the data stored in its database, reducing risk exposure if one node is compromised by an attacker (or hacked). Suppose someone does manage to compromise one node within a distributed system. In that case, the remaining nodes will remain unaffected by this breach. The attackers would gain access to partial information and may not understand how everything works in that network. 86

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People are taking back control over their identities and data in this era. The movement is gaining traction as more people become aware of the changes that are happening in the industry. The World Wide Web is a powerful tool that can transform and empower people, but it has also become a tool for privacy infringement and the consolidation of data control. Web 1.0 was characterized by the massive implementation of web pages that were readable but not writable.

The trend continues with more online tools being developed and used to enhance collaboration among users on Web 2.0. This has led to challenges such as privacy infringement and data centralization, which have necessitated a need for decentralization projects such as Web3. Getting a better understanding of the evolution of the internet through these different stages from Web1 to Web3 can help you understand why privacy and data storage are so important. If we know what's happened in history, we can make better choices for our future. 87

How To Build

Safer Virtual Worlds in the Web 3.0 Era by Umar Nabi While the internet has brought us many captivating things, it has created a new playing field for criminals and hackers.

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As we move into a new era of digital interactions, we must build a safer virtual world. - Tim Berners-Lee

As we enter Web 3.0, it's essential to be aware of the potential cybersecurity risks that come with it. While the internet has brought us many captivating things, it has created a new playing field for criminals and hackers. In addition, with the rise of virtual worlds and online gaming, we need to be extra diligent about safeguarding our information. For example, Web 3.0 applications

are more complex than their predecessors, making them more challenging to secure. In addition, these applications often handle sensitive data, such as financial information and personal identity data. As such, they are attractive targets for cybercriminals. In this article, we'll look at some of the risks associated with web 3.0 and how we can protect ourselves from them.

Web Security Risks in The Age of Big Data The internet has come a long way since its inception in the late 1960s. The World Wide Web, or "web" for short, was created in 1989 and has since revolutionized how we communicate and share information. As a result, the web is now an integral part of our lives, with over three billion people using it every day. However, as the saying goes, with great power comes great responsibility. As the web has become more central to our lives, it has also become a prime target for criminals and

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hackers. In recent years, we have seen a surge in cybercrime, with data breaches becoming increasingly common.

This is especially true in the age of big data, where sensitive information is often stored in large databases that can be hacked.

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Web 3.0 Cybersecurity Features Web 3.0 promises a more secure and trustworthy internet. However, to build safer virtual worlds, we need to understand these risks and take steps to mitigate them. Some of the most important features of Web 3.0 cybersecurity include:

END-TO-END ENCRYPTION End-to-end encryption is one of the most critical aspects of web security since it ensures that only the sender and intended recipient of communication can read it. This means that even if someone were to intercept your communication, they would not be able to read it because they would not have the key needed to decrypt it. End-to-end encryption is essential for communications that contain sensitive information, such as financial data or personal health information. It is also essential for communications that are meant to be private, such as intimate conversations between friends or family members. The good news is that many popular messaging apps already use end-to-end encryption, including WhatsApp, Signal, and iMessage.

USER AUTHENTICATION

Another important security feature is user authentication, a process of verifying someone's identity. It requires the user to enter a username and password but can also be done with biometric data, such as fingerprint or iris scan. User authentication is essential because it helps to prevent unauthorized access to information or systems. It is also necessary for user privacy protection because it assures only those who are permitted to read or use specific information.

DATA ENCRYPTION

BLOCKCHAIN TECHNOLOGY

REPUTATION SYSTEM

Data encryption is another crucial security measure that can be used to protect information. Data encryption is a way of turning information into a code that can only be decrypted by someone who has the correct key. This is important for preventing unauthorized access to data, as well as for ensuring the privacy of data. Encryption is often used in conjunction with user authentication, as it can help to ensure that only authorized users can access encrypted data.

Blockchain is a type of distributed ledger technology that is often used for security purposes. Blockchain allows for the secure storage of data and traceability of transactions. It's an excellent tool for cybersecurity, as it can assist avoid data breaches and ensuring integrity. Blockchain is also being used to create secure virtual worlds, as it can help ensure the safety of user data and transactions.

Reputation systems are essential for cybersecurity as they can help identify and prevent attacks from malicious actors.

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Blockchain is also being used to create secure virtual worlds, as it can help ensure the safety of user data and transactions. www.techfastly.com

How Do We Build Safer Virtual Worlds? So what can we do to build safer virtual worlds? First, we need to educate ourselves about the risks associated with web 3.0; then, we need to put in place the necessary security measures to protect our data and identities. Finally, we need to be vigilant in our use of the internet and report any suspicious activity to the authorities. By working together, we can make the web a safer place for everyone.

There is a growing trend towards a machinereadable web, where information is designed to be read and understood by computers. 93

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Why does a Machine-Readable Web Matters For Security? The internet today is essentially a humanreadable web. This means that most of the information on the internet is designed to be read and understood by humans. However, there is a growing trend towards a machinereadable web, where information is designed to be read and understood by computers. This trend is being driven by the rise of artificial intelligence (AI) and the need for machines to be able to understand and

process large amounts of data. A machinereadable web will allow AI systems to better understand the world around them and make more informed decisions. However, there are also some potential risks associated with a machine-readable web. One of the most significant risks is that it could make it easier for malicious actors to exploit vulnerabilities.

A machine-readable web will allow AI systems to better understand the world around them and make more informed decisions. 95

Web 3.0 Security Risks Cybersecurity risk is nothing new, but it's constantly evolving as technology advances. Here are ten of the significant cybersecurity risks in Web 3.0:

The Dangers of "Hacktivism"

Data and Information Breaches

"Hacktivism" is a term used to describe the use of computer hacking for political or social purposes. While some hacktivists may engage in online vandalism, others may go so far as to commit severe cybercrimes. In either case, their actions can pose a serious threat to both individuals and organizations.

A data reach occurs when unauthorized individuals gain access to or steal sensitive, personal, or confidential information. These breaches can occur when hackers gain access to a company's computer systems, databases, or networks. They can also occur when employees accidentally expose data through email, social media, or other means.

Malware, Viruses, and Other Threats

Phishing Scams

Malware is a computer program designed to harm the user or impair computers. For example, email attachments, downloads, and websites can infect your PC. Once downloaded on your system, they can steal sensitive information, damage files, or take control of your computer.

Phishing is a fraud that employs email or other electronic contact forms to deceive people into providing personal information like passwords, credit card numbers, or bank account information. These scams often arrive at the victim’s end by misusing a legitimate source, such as a financial institution or reputed businesses.

Spam Spam is unsolicited emails typically sent in bulk. They can be commercial, promoting products or services. Spam clogs up email inboxes and can be a nuisance.

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Cyberstalking

Financial Losses

Cyberstalking uses electronic communications to stalk, harass, or threaten someone. This can include sending threatening or obscene messages, posting private information about the victim online, or even impersonating the victim to damage their reputation.

One of the most significant risks in Web 3.0 is the loss of personal data. With the rise of decentralization, hackers have more opportunities to access sensitive information. In addition, the increased use of smart contracts and other automated processes raises the stakes for cyber attacks. If a hacker gains access to a contract, they may be able to wreak significant financial harm. As we enter this new Web era, it's essential to be vigilant about cybersecurity risks.

Ransomware Ransomware is a computer virus equipped with files on a computer system and then demands a ransom to decode the files. This can be a costly attack for businesses, leading to data loss and interruption. In addition, victims have been asked to pay the ransom via Bitcoin in certain situations, which might be challenging to track.

Cyberbullying Cyberbullying is electronic communication to bully, harass, or threaten someone. This can include sending threatening or obscene messages, posting private information about the victim online, or even impersonating the victim to damage their reputation.

Online Predators An online predator is a person who utilizes the internet to exploit children or adults sexually. These predators typically use social networking sites, chat rooms, or email to build relationships with their victims. They may then attempt to meet their victims in person, often to assault them sexually.

By taking these precautions, organizations and users can help to create a safer virtual world for everyone.

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Preventive Measures Organizations need to be aware of the following risks when operating in Web 3.0: Hacktivism, data and information breaches, malware and viruses, phishing scams, spam, cyberstalking, financial losses, ransomware, cyberbullying, and online predators. By understanding these risks, organizations can take measures to protect themselves and their users. Additionally, users should be educated on these risks and how to protect themselves when using the internet. Some preventive measures against these risks include:

1 Encrypting data and

information

up 2 Backing data regularly

Monitoring strong 5 4 Installing activity for security software

7 Restricting access to sensitive

unusual behaviour

strong 3 Using passwords

Reporting suspicious activity immediately.

information

By taking these precautions, organizations and users can help to create a safer virtual world for everyone.

Conclusion The evolution of the internet has reached a fork in the road. The way we build the virtual world of Web 3.0 will have profound implications for the future of our society. We must ensure that this world is built with security and privacy in mind, or we risk creating a playground for criminals and enabling mass surveillance. There are many ways to build a safer virtual world, but it will require a coordinated effort from stakeholders. Governments, businesses, and individuals have a role in making the internet a safe place. We can make sure that the benefits of Web 3.0 outweigh the risks.

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