Web 3.0: Possibly Game Changer Technology for the Internet of which Muftah Ismail was also unaware

If Web 1.0 Web 1 was based on hyperlinks and Web 2.0 Web 2 does so on social networks; Web 3.0 will be based on blockchain technology.

Web 3 Internet:Pakistan's Finance Minister Muftah Ismail is currently on a visit to the United State of America  & is seeking relief for crisis stricken Pakistani economy.

If Web 1.0 Web 1 was based on hyperlinks and Web 2.0 Web 2 does so on social networks; Web 3.0 will be based on blockchain technology.

While meeting with officials from International Monetary Fund IMF & the World Bank he also participated in a dialogue with the think tank Atlantic Council.

Surprisingly however the reason why his credentials are being criticized on Twitter in Pakistan is not negotiations with  IMF but a technology called Web 3.0 

Web 3 Internet Technology: This is what happened at the Atlantic Council event when economist Uzair Younis asked him what he thought of Web Three because he & his colleagues had analyzed that it would be 100 for Pakistan in the next 20 years. It could be a source of billions of dollars in exports.

Web 3: On this Muftah Ismail said that he admits that he does not know about Web 3.0. He said that he was aware of difficulties faced by the digital economy & art tech in Pakistan & would try to alleviate these difficulties but his knowledge about promoting this industry was limited.

This has led to criticism of him on Twitter and many users have started questioning his ability while some users have also said that perhaps most people in Pakistan are unaware of Web 3.0.

Mr Uzair Younis who asked him this question later wrote on Twitter that there is nothing wrong with saying I do not know instead of fabricating facts to make yourself look intelligent.

Web 3.0 Technology: However he added that at the same time it is important 4 Pakistani leaders to know how world is changing.

Web 3: After the release of this video Web three started trending on Pakistani Twitter which has received more than 28,000 tweets so far.

At the same time Google Trends also saw an increase in related searches & Pakistanis kept trying to find out what Web 3  was.

Let's take this opportunity to learn what Web 3 Three is and how it can revolutionize.

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Web 3.0

Web 3.0Technology : In today world where everything is interconnected it is difficult to imagine why experts are talking about need 4 a complete change in  Internet.

But it is the connectivity of everything that has led many technologists to consider what they call the new phase of  Internet.

They insist that what we use is still the second generation of the Internet & should be changed 4 better. According to him we need more semantic web which is more efficient & gives us more control over our data.

With the advent of Web 3.0 they are predicting it. Many in industry consider this to be the coming Great Internet Revolution.

Web 3.0 will enable machines to self interpret big data. This will enable us, among other things to interact more deeply with other users from any platform.

In this new chapter of  Internet we will no longer need complex operating systems or large hard drives to store information, because everything will be in the cloud & everything will be very fast & changeable.

Web 3.0 internet technology

In general terms it can be said that the machines on Web 3.0 will collaborate with humans more effectively.

But its main advantage is the decentralization of  Internet that is the creation of an Internet that is more equitable & decentralized & undermines large Internet companies as advocates of this concept insist.

Web 3.0 Internet : Silicon Valley is already in its infancy & has been under construction for many years. The term was coined in 2014 by Gavin Wood co founder of Ethereum Cryptocurrency.

Just as Tim Berners Lee is considered the father of the Internet Wood is often referred to as the father of Ethereum because of his co founders and broadcasters.

Web 3.0 Technology: Ethereum is the second most used blockchain protocol in world. This technology is the basis of Web 3.0.

Wood creator of the open source project Polka com began his work with  idea that it was necessary to reshape the Internet & create a new structure with a specific protocol that would decentralize  Internet.

Wood is a British software engineer. To this end he founded the Web 3.0 Foundation to fund these research & development teams, laying the foundations 4 Web 3.0 and building a decentralized web based blockchain infrastructure company in Berlin Parity Technologies.

But what does decentralized Internet mean?

Internet was originally a common and decentralized protocol says Arsala OKeefton director of communications at Parity Technologies. It started to get more decentralized in the 90's with these big technologies.

With Web 3.0, we want to get  Internet back on track he said. What the Internet did was that no one had enough control over the communication tools that we have today

An important part of the structure of Web 3.0 is blockchain technology which allows the creation of blocks & data chains which we know primarily from cryptocurrencies.

Internet technology : If Web 1.0 Web 1 was based on hyperlinks & Web 2.0 Web 2 does so on social networks Web 3.0 will-be based on blockchain technology.

Technology internet: We have to think with an open mind because blockchain is more than just a crytocurrency he said. Web 3.0 is more than just a token price. 

In fact elements that make Web 3.0 possible have evolved over the last few years & in a way have become a reality.

Web 3.0 internet technology web three

Web 3.0 web 2 internet technology

But its technology has not-yet been integrated or used by the common people.

A faster safer and wider web

Colin Irwin has been developing Web 3.0 for 5 years. He explains that the file runs under Coin and IPFS systems. Both protocols have been developed by a company called Protocol Labs a blockchain technology company based in San Francisco California which also aims to decentralize web.

Most of my job is to speed up transition from Web 2.0 to Web 3.0.

Our goal is to update the web to make it faster more secure stronger & more open against attacks.

To understand how Web 3.0 will work & how fast & flexible it will be, we must first understand how the Internet was created and how it has changed over years.

If we look back to the early days of  Internet in the 1960s & 1970s we see that the Internet itself existed before the web  it was a combination of cables and a network that Used to add. 

It simply came to our notice then.

Avery says Web 1.0 was launched in  early 1990's. Websites like Yahoo were static web pages that relied on hyperlinks.

Web 2.0 came in  2000's. The key improvement says Avery is that it allows us to read & write interactively so that mobile and web applications can talk to each other & we can communicate with them.

The development of Web 3.0 boosts consumer confidence as civil liberties will be integrated into its infrastructure.

He also criticizes centralizationbof Web 2.0.

Some cloud storage service providers banks & big governments, gather all the power & can control & manipulate  data as they wish to make money & advance their own interests says Avery.

Web 3.0 Technology :We cannot trust that these living entities are not manipulating our data.

Then what changes with Web 3.0?

It will change the whole structure of the web says Avery.

Experts say that Web 3.0 will allow users to access thousands of data centers around the world and will be able to choose who keeps their data and how.

The Amazon Google &  Microsoft are currently leading the market for cloud data storage.

Amazon together with its subsidiary Amazon Web Services AWS controls 41.5% of this market. It is followed by Microsoft at 29.4%  Google at 3%.

The three (03) companies own half of the world's 600 largest data centers according to the Synergy Report Group.

Evern on the other hand explains that Web 3.0 will have a clear mechanism 4 eliminating issues such as data authentication & fake news.

As far as  more technical part is concerned when it comes to protocol they say When you open Google or any other browser and go to a website you use  HTTP protocol. You tell this protocol to find a file in a specific location.

It's like you have to go through the united State New York Public Library to find a book. If that library collapses or government puts up security guards you can not access more content. It s a centrally controlled structure. 

In the world of Web 3.0 every copy of the book will-be compressed into a secret algorithm that cannot be manipulated. & we'll be able to share it once we're connected to  network. 

This is peer to peer P2P technology that allows multiple users to exchange peer to peer resources directly between users which is not possible with existing Web 2.0 or HTTP protocols according to Evern.

Arsala explains that Web 3.0's blockchain technology is very secure and that no one has-been able to hack 4 more than 10 years now.

The issue of security is very important in age we are living in because our lives & our data are rapidly changing on Internet.

These changes are expected to give Internet users more power over  information they access and the data they share & ultimately create a freer & more equitable Internet.

But the promise that Web 3.0 will be able to break the dominance of big technology companies like Google or Facebook raises doubts.

There are voices such as Elon Musk who a some days ago posted a sarcastic comment on Twitter Has anyone seen Web 3.0 ? I can not find it.