It’s been nearly twenty years since we’ve seen an updated version of the web. Web2 came out in 2004, and it was a great improvement to Web1 as it enabled greater interaction and user participation with things like Facebook and YouTube. However, it quickly became the property of big tech, giving little control to the common user. 

The Why Behind Web3

Web users (which is virtually the entire global population) are ready for a change to the status quo. The ideals behind Web3 seem like they would greatly benefit every user by putting the ownership back into the hands of the people. However, some are concerned that the payment for Web3 decentralized apps would effectively give control back to big tech anyway. 

For instance, many of the Web3 apps being developed are paid for through cryptocurrencies owned by big tech. It stands to reason that whomever pays for the development of Web3 will hold the power over it. Nevertheless, it’s not all bad news. 

Currently, 16% of Americans have invested in crypto of some kind. With the growth of crypto, payment for Web3 development will inevitably become more dispersed. 

How Web3 Can Impact the Workplace

With any new technology, there are obviously concerns, criticisms, and challenges to work out, yet despite all of this the promises of Web3 are lofty and exciting to anticipate. 

One of the most highly anticipated and appealing aspects of Web3 is the very foundation of its development; decentralization. This decentralization means that users themselves own and govern portions of the internet rather than everything being owned by companies like Google and Facebook. 

Nobody Wants to be Tracked

Decentralization also brings back anonymity to users. Rather than tracking activity to a physical person and location, the activity tracked would lead to that person’s owned portion of the web. Another aspect of this lack of physical location associated with users is that users would be able to work from anywhere in the world for companies and individuals anywhere in the world. 

Geographical borders are no barrier to getting or giving employment on Web3. While currently, in Web2, 85% of workers hate their jobs, Web3 would give everyone much more freedom to search the entire world for exactly the kind of job they want, and tech jobs would expand at a rapid rate. Adding to this the fact that there are more than 18 thousand borderless digital currencies. It’s easy to see how the possibilities for employment are virtually endless with Web3. 

Overall, most people are very optimistic about Web3 and all the possibilities within it. In fact, 81% believe that Web3 will improve their happiness and wellbeing. The majority of Americans wish to be self-employed. It’s already a rapidly growing status, and Web3 creates many more avenues for doing just that. 

In Conclusion

Naturally, there will be downsides and things that need to be resolved when Web3 finally launches. After nearly two decades, this web upgrade promises to be the best yet and solves many of the current problems associated with Web2. It’s exciting to see just how far Web3 will take us on a global scale. The wait may be over as soon as this year. Learn more about how the future of work goes hand in hand with Web3 in the infographic below: