People often use the terms "blockchain" and "web 3.0" interchangeably, when according to some expert, these two terms aren't exactly the same, even though they are well nested in each other. Until now, blockchain has been the most notable technology implored by developers to create web3 products. Hence the conflation.
Recently, Tim Berners-Lee promised internet users a decentralised web experience not built on blockchain.
So, what exactly is Web 3.0?
In the tech industry, the term "Web 3" is vaguely used to refer to a possible future version of the internet that is more decentralized than what is currently available and is not dominated by a few key corporations like Microsoft, Google, Amazon, and Meta. Before it is a technology, Web3.0 is an ideology.
Tim Berners-Lee, the British computer scientist credited with inventing the internet in 1989, argued on stage at a web summit in Lisbon that blockchain technology isn't the only component of Web 3.0. He, in fact, brought in another twist by stating that Web3 is different from Web3.0. He alluded to the importance of properly distinguishing terms when he said,
"It's important to clarify in order to discuss the impacts of new technology. You have to understand what the terms that we're discussing actually mean, beyond the buzzwords."
According to him, the term "web3" was hijacked by Ethereum developers to outline their innovation with blockchain, while "web 3.0" is his own manifesto for improving the internet. He told his listeners not to confuse the two terms—"Web3" and "Web3.0."
"It's a real shame that the actual Web3 name was taken by the Ethereum folks for the stuff that they're doing with blockchain. In fact, Web3 is not the web at all". Said Berners-Lee.
Decentralization and control of one's personal data are visions Berners-Lee shares. He, however, does not see blockchain as the solution. Though he acknowledges that the blockchain is good for some things.
"Blockchain protocols may be good for some things, but they're not good for Solid". (Solid is a web decentralisation project led by Berners-Lee).
He continued, "They're too slow, too expensive, and too public. Personal data stores have to be fast, cheap, and private."
"Ignore random Web3 built on blockchain nonsense. We're not using that for Solid."
Berners-Lee is currently the CEO of Inrupt, a startup that promises to develop more decentralized web technologies while providing users with privacy and total control over their data. The startup reportedly raised 30 million US dollars toward the end of last year.
The inventor of the Web acknowledges that the Web2 has a problem with how it manages the data of its users, and it has resulted in many inanities.
"...As a result, there was a big data race in which the winner was the corporation with the most data and the losers were everyone else." He said.
According to him, his startup is out to address those issues.
It's possible that Berners-Lee is angry that he invented the web but a new web technology is about to render him obsolete. However, I'll give him the benefit of the doubt and urge all web developers to write contracts that address the concerns he raised.
Also, he's not the only big name to have reservations about blockchain technology; in the past, the likes of Elon Musk and Jack Dorsey expressed their doubt.
If we are looking for a true decentralized system, we must not shut down critics; their concerns have to be taken into consideration.
Well, it will be interesting to see decentralized platforms not built on the blockchain, and Berners-Lee is promising us one.
Watch a part of the summit here.
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