Maybe we are living at a historical moment that we may not realize. This is exactly a new revolution in the field of information technology, specifically using blockchain to encrypt information for the most accurate and transparent in the E-commerce field, that is Web3.

(Web 3 in E-commerce)

What are Web3 Web2 Web1?

Here is a brief history of the Internet:

• Web 1.0 is a read-only web where anyone can read information written on web pages.
• Web 2.0 is a read-write web where anyone can read and write content on websites and applications.
• Web 3.0 is a read-write interactive web (powered by artificial intelligence) where anyone can read, write, and interact with content, including 3D graphics, on websites and applications.

Web 3.0 (also known as web3) is the third version of the Internet that connects data together in a decentralized way to deliver a faster and more personalized user experience. It's built with artificial intelligence, machine learning, and the semantic web, and uses a blockchain security system to keep your information safe and secure. Decentralization, openness, and incredible user utility are the defining features of web 3.0.

Main Point of Web 3.0

• Open - It is created using open source software developed by an available and open community of developers and is completed in full view of the public.
• Trustless - The network gives users the freedom to interact publicly and privately without a middleman putting them at risk, so the data will be "unreliable".
• Permissionless - Anyone, including users and vendors, can participate without the permission of the controlling organization.
• Ubiquitous - Web 3.0 will make the Internet available to all of us, anytime and from any location. At some point, Internet-connected devices will no longer be limited to computers and smartphones as in web 2.0. Because of the IoT (Internet of Things), technology will enable the development of a multitude of new types of smart gadgets.

How has Web3 influenced E-commerce Strategy?

• Web 3.0 is changing the E-commerce strategy as it drives the transition to open source software that uses blockchain technology as the core driver toward a transparent internet. Web3 is the strategic way that e-commerce will need to undergo significant changes in the future.

• With the widespread adoption of cryptocurrencies and blockchain, e-commerce brands have to choose to change some of the outdated forms and expand their business model according to current buying trends.
• The physical experience became less important as a result of many firms switching from physical locations to online sales
• Web3's success is partly driven by consumer demand for transparency. This will drive the way brand and financial decisions are made and drive user experience ethos.
• Web3 helps build community, bringing a sense of ownership back to consumers. Web3 Enables e-commerce stores to create a personal name through brand stories, providing a meaningful and transparent experience on the web3. Without these things, it is difficult to build customer loyalty which leads to losing track of them.

(Web 3 in E-commerce)

Web 3 provides the opportunity for E-commerce stores to develop their payment methods

With high security and avoiding loss of user data, Web 3 is the savior for buyers and sellers when all online buying and selling information can be done 24/7 and there is no distance between users' geography.

Advantages of Web 3.0

Web 3.0 will make the web smarter, safer, and more transparent, leading to more efficient browsing and more efficient human-machine interaction. Here are the top advantages of web 3.0

• Privacy your data: Web3 powered by blockchain will provide people complete control over their data. Furthermore, no one organization will have authority over Web3. Decentralized apps (dApps) wouldn't be banned or subject to censorship as a result.

• Seamless service: Web3 is a blockchain-based platform that will link businesses and customers directly. While there will still be a need for sufficient laws and regulations to ensure justice, there will be a move away from centralized institutions and toward trustless and decentralized networks.

• Transparency: Users can trace their data and see the platform's source code thanks to the decentralized web; you won't require an intermediary to access this information.

• Open data accessibility: Data will be accessible from anywhere and from any device. Enhance data collection and its accessibility to users worldwide by allowing. smartphones and other connected devices to access data on computers if synchronized.

• Unlimited platform: Web 3.0 will further scale interactions, from seamless payments to richer information flows to reliable data transmission. This will happen because web3 will allow us to interact with any machine without going through an Intermediary fee.

• Create a unique profile: With web 3.0, users do not need to create individual profiles for different platforms. A single profile will work on any platform and users will have full ownership over any given information.

• Advanced data processing: Web 3.0 is beneficial for in-depth knowledge-making and problem-solving tasks. It uses artificial intelligence to filter out valuable information from large amounts of data.

Disadvantages of Web 3.0

• Less advanced computers: these less advanced computers will not be able to provide the benefits of web 3.0. Device features and characteristics will need to be expanded to make the technology accessible to more people globally. As of now, only a limited number of people will be able to access web 3.0.

• Web 1.0 sites will become obsolete: If web 3.0 becomes official on the Internet, any website based on web 1.0 technology will become obsolete. Old technology does not have the ability to update its features to accommodate new technology.

• Not ready for mass adoption yet: Web3 technology is getting smarter, more efficient, and more accessible. However, the technology is not quite ready for widespread adoption yet. More research is needed on technological advancements, privacy laws, and data usage to meet user needs.

• Demand for reputation management will increase: As user information becomes more available and less anonymous through web 3.0, reputation management will be more of an issue than ever. In other words, brands and companies will need to maintain their name, reputation, and image online.

• Complex function: Web 3.0 is a complex technology for any new user, which makes them hesitant to use it. It is a combination of old-generation web tools with cutting-edge technologies, such as AI and blockchain, as well as the connection between users and the growing use of the Internet.

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Web Application 3.0

Several companies are building or already have products that they are converting into Internet 3.0 applications, namely Amazon, Apple, and Google. Two examples of applications that use Web 3.0 examples are Siri and Wolfram Alpha.

Today, Siri and other AI assistants like Amazon's Alexa and Samsung's Bixby can understand requests like "where is the nearest burger joint" or "make an appointment with Sasha Marshall at 8 a.m. tomorrow." " and immediately provide appropriate information or action.

Conclusion:

Web3 has pros and cons for e-commerce brands. Web3 is the solution also the limit some brands have no conversion to E-commerce. Knowing the effectiveness of web3, your online store will have the opportunity to scale the business.

(To be continued)

papmall® Team

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