Since its inception in the early 1990s, the internet has experienced significant growth and development. The World Wide Web has come a long way in the past few decades, transitioning from primarily text-based pages to ones that feature rich multimedia content. The progression of the web can be broken down into three distinct phases: Web 1.0, Web 2.0, and Web 3.0.
The first stage of development of the World Wide Web was referred to as Web 1.0, which was also referred to as the Static Web. Static web pages that could only be read were typical of this era of the internet, which was otherwise devoid of any interactive features. Users were provided with information about a company or a product through the use of websites, which functioned essentially as digital brochures. The websites were developed primarily for use on desktop computers, and dial-up internet connections were required in order to view their contents.
During this time period, the majority of websites on the internet were created by corporations that had sufficient financial resources to do so. The creation of websites was a specialized task that required familiarity with HTML as well as other programming languages. As a direct consequence of this, the process of developing websites was both time-consuming and costly.
THE DYNAMIC WEB OR THE AGE OF SOCIAL
The beginning of the 21st century saw the birth of Web 2.0, also referred to as the Dynamic Web. This era of the internet was distinguished by the prominence of user-generated content and interactive features. Users were able to participate in and make contributions to the web thanks to a variety of new technologies that were made available by Web 2.0. This included online forums, blogs, wikis, and social media platforms such as Facebook and Twitter.
The introduction of Web 2.0 was a significant step forward for the internet. Real-time content creation, sharing, and collaboration were made possible for users of the platform. The proliferation of social media platforms like Facebook, Twitter, and Instagram made it possible for users to connect with one another on a scale that encompassed the entire world, and catapulting the Philippines to become the social media capital of the world.
THE INTELLIGENT AND DECENTRALIZED WEB
The next stage in the development of the internet is referred to as Web 3.0, which is also referred to as the Intelligent Web. The application of artificial intelligence (AI), machine learning, and the Internet of Things (IOT) are some of the defining characteristics of Web 3.0. Interconnected devices and appliances are now the new in-thing. And of course, AI intelligence led by the popular ChatGPT, that is now generating waves in the business and academe.
The technology behind blockchain is the most essential component of Web 3.0. The blockchain is a distributed ledger that is secure, transparent, and can be used to store and verify data. This technology has the potential to completely change the way that data can be stored, shared, and protected on the internet. Blockchain technologies have given way to the rise of cryptocurrencies, NFTs, and the evolution of the metaverse.
The development of the web has been a fascinating adventure to witness. Moving on from the static pages of Web 1.0 to the user-interactive and user-generated content of Web 2.0, and then, finally, to the intelligent and interconnected web of Web 3.0, now anchored on the technology that is the blockchain.
My weekly column will feature three key movements in the world of blockchain technology. First would be news from around the world on what is happening in the world of crypto, metaverse, and NFTs. Second will be on the various business use cases the industry has on adopting blockchain. Finally, I will look at the different sectors of our country — legal, political, and industry — as we start experimenting and adopting blockchain to leapfrog our country ahead.
The future is Web3. The future is blockchain. Come explore the blockchain world with me.
Dr. Donald Lim is the founding president of the Blockchain Association of the Philippines and the lead convenor of the Philippine Blockchain Week. He is also the Asian anchor of FintechTV.
