Will Web 3.0 Fail to Meet its Potential?

Web 3.0 often is said to be “decentralized,” featuring applications based on open-source, trustless, and permissionless blockchain networks. If that sounds much like the direction of the present web, that is correct.

We now routinely use open source. The whole internet operates on a "trustless" and "permissionless access basis. But all that will be extended.

Web 3.0 is said to rely on: 

• Blockchain

• Crypto assets

• Low code or “no code” app development

• Artificial intelligence

• Metaverse or extended or virtual reality

• Users able to monetize their data

• Semantic capabilities (machine-readable data)

It also is reasonable to argue that if Web 3.0 develops, it will build on edge computing as well, simply because the sheer amount of data updates--in real time-- for any immersive experience will require high-performance computing very close to the end user. 

source: GlobalData 

As with the original development of "Web 1.0," proponents had grand dreams about universal sharing of knowledge and information. Web 3.0 is pitched by some as a return to such principles. But we are likely to find that matters will not evolve in the ways proponents hope. Web 2.0 has been effectively balkanized by huge firewalls, where some apps are simply prohibited by government authorities. 

And much content is monetized precisely by putting it beyond paywalls. Web 1.0 might have been about communication. Web 2.0 has been about commerce and content. We still do not know how Web 3.0 will play out. 

source: Elastos