Web 3.0

Attention-Driven Digital Economy Can Be Repaired with Web 3.0

The flaws of Web 2.0 have been on the whole show in recent months, from unequal creator economics and insufficient security to centralized authority and dissatisfied communities.

The centralized form of Web 2.0, which was all about network effects, massive scale, and winner-take-all economics, is no longer beneficial to society.

Here’s how Web 3.0 addresses some of the most pressing issues in today’s digital economy:

Inadequate data security and controls.

Web 3.0 is built on cryptographic primitives and frequently employs open-source code, allowing anybody to contribute by examining it. As a result, user security is improved, and transparency becomes a competitive advantage. The advantages aren’t simply for privacy’s sake; they also protect user value.

Toxicity and platform accountability.

The power dynamic between users and platforms is likewise rebalanced in Web 3.0, giving consumers control over their data. In addition, users can “vote with their feet” and switch from one platform to another using Web 3.0 platforms because data management solutions offer interoperability and portability.

Creator economics are unbalanced.

The Web 3.0 paradigm addresses these unequal incentives by democratizing access and reducing barriers between authors and viewers. In addition, web 3.0’s revenue tools for creators, such as NFTs, digital payments, tokens, and crowdsourcing, level the playing field in a creator-friendly way.

Users can also have their own personal Web 3.0, usually managed by tokens. As a result, they are driven to supply critical services such as moderating since they gain directly from the platforms’ growth.

Read more: https://techcrunch.com/2021/11/08/web-3-0-can-repair-the-attention-driven-digital-economy/

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