Web3 or Web 3.0 is set to be the new version of the World Wide Web which is built on the principles of decentralisation and is being built, operated and owned by users. Before we dive deeper into Web3, its useful to know how it compares and differs to the earlier and present iterations of the web. 

Web 1.0 (1990 - 2004)

The first iteration of the World Wide Web came to be between 1994 to 2004. Tim Berner Lee hoped to create open, decentralised protocols that allowed sharing of information from any corner of the world. Web 1.0 was basically static websites which were owned by companies and had almost zero ability for interaction between users i.e. users were almost never creating content and that is why web 1.0 also came to be known as the read-only web.

Web 2.0 (2004 - present) 

In 2004. The period of Web 2.0 began with the growth of social media platforms. This new iteration of the web moved beyond just companies providing content to users to them providing platforms for users to create and share their own content and engage in user-to-user interactions. Thus, Web 2.0 evolved to be read-write instead of read-only with Web 1.0. 

However, web 2.0, as it is today, came to be largely controlled and managed by a set of large tech companies and this created a market hegemony of the internet. Today, a handful of companies control a largely disproportionate share of internet traffic and the value generated on the web. It has also created the advertising-driven revenue model such that while users are able to create content, they don't necessarily benefit from its monetisation.

Web 3.0 

To tackle some of these problems, web 3.0 was envisioned. The premise of web 3.0 was coined by Ethereum co-founder Gavin Wood and it seeked to solve the problem encountered by earlier crypto users - the web needed high amounts of trust. Instead of placing public trust into a handful of companies that exercise near total control over the internet, the internet needed to become a more private and secure platform. 

Core principles of Web 3.0 - 

1. Decentralisation - Instead of the internet being controlled and owned by large tech entities, its ownership is distributed between creators/builders and users.
2. No need for permissions - Every individual has equal access to participate and the space is inclusive to all.
3. No need for trust - Web3 uses incentives and economic mechanisms to operate instead of relying on and trusting third parties. 
4. Native Payments - Web 3.0 uses cryptocurrency for spending and sending money online instead of using traditional processes involving banks and payment processors. 

Where does UX/UI come in?

There are incredible technical barriers to using web3 for everyday users. Users need to be able to understand security concerns, complex technical documentation and be able to navigate counterintuitive user interfaces. More progress is needed in improving and working on user experience before web3 gets adopted and accepted widely. Design (UX/UI) will be integral to the uptake of Web3. It will define how and whether technical knowledge hindrances are avoided and the experience of using Web3 is simplified for users. 

Savant recognises the importance and growth of Web3 and the demand it has created for rapid skill development and uptake. Informed by robust market research, our UX/UI division is prepared to provide market leading talent in the space of Web3 design and research. We can also support you with the best industry talent that can be technically vetted through our partnerships with experts and market-leading onboarding advice and consultation. To know more about how we can assist you, please reach out to us at - technology@savantrecruitment.com