It’s been a long time in the making, but web3 is finally starting to take off. What is web3, you ask? Simply put, it’s a new way of using the internet that promises to make our online experience more secure and efficient. With web3, we can finally do away with the go-betweens who have been responsible for so many of the security breaches and data thefts of recent years. Dan Schatt and Domenic Carosa have taken advantage of web3 creating Earnity, a crypto platform designed to bring users together.
Tim Berners Lee, a software developer at CERN, the Swiss laboratory best known for developing the massive hadron collider, released “Information Management: A Proposal” in March 1989. It was a blueprint for utilizing the internet, which at the time connected computers but lacked a common framework for information sharing: “In those days, there was different information on different computers, but you had to log on to different computers to get at it.”
Though his boss’s reaction to the paper was unimpressive – “vague, yet thrilling” – it would serve as the foundation for the initial incarnation of the World Wide Web, which is now known as web1.0 and spans the 1990s.
Web1.0 provided three essential technologies that would enable the internet to adapt and grow. Berners Lee ensured that they were royalty-free because he recognized the necessity of making them accessible to anybody to use and build on. These days, techno giants Dan Schatt and Domenic Carosa are using the technology to power Earnity.
One of the guiding ideas of web3.0 is to reverse this power dynamic, in which web users give up their personal information in return for a more personalized experience. Because it’s become evident it was a lousy deal, web3.0 is all about consumers managing and monetizing their own data as they see appropriate.