What is Web 3.0?


4 min readJul 14, 2022


The internet has been around for more than 40 years, and it’s changed a lot in that time. The first phase of the internet (known as Web 1.0) was characterized by its focus on content — the vast majority of websites were primarily informational rather than interactive, and users had limited access to services outside their own countries or cultures.

The second phase (Web 2.0), which started around 2005 and is still ongoing today, saw an explosion in the number of websites with interactive features such as social media platforms, games sites and shopping sites becoming popular across multiple demographics. However, many people remain unconvinced about the future of online technologies because nothing seems to have progressed beyond this point: we’re still using web browsers with similar capabilities as before; most popular websites are still just glorified text boxes; most people do not interact socially on these platforms anymore compared with what they did 20 years ago! And yet, despite all this evidence against them, there are some things happening right now that point towards how our future interactions will look like.”

Web 2.0 was the second phase of the internet

And it spanned from 2004 to 2011. It was an era marked by social media platforms like Facebook and Twitter, as well as companies like Google that grew out of search engines into dominant forces in their own right.

The web 2.0 boom was preceded by what’s known as the dotcom bubble — a period where many startups went public or were acquired for large sums of money before collapsing under their own weight (or not). While this may seem like a long time ago now, it’s an important part of history because it led us to where we are today: an internet with more users than ever before but fewer actual websites overall; one with giants such as Amazon (1 billion+), Alibaba (20+ billion+) and Netflix blowing up all over town; one that relies on personal data collection from its users at every turn.

Web 3.0: next generation of the internet with 3 key concepts

Web 3 is a new type of internet that was developed by the creators of Bitcoin. It has three key concepts:

  • Decentralization — Users are allowed to own their data and manage it themselves. No single entity can control or censor users, who can choose which websites they visit and use their own money as currency on them.
  • Openness — Every person has access to all information on the web, without permission from any other party (except for users who want privacy). This means that everyone has equal rights in accessing information about anything at any time, regardless of whether you have money or not (or whether you even know what “money” means). A person’s identity is not hidden behind some kind of password-protected wall; instead there is simply no barrier keeping anyone else out except perhaps your own personal preferences when deciding where exactly should be able to see whatever information happens upon clicking onto said link/page/etcetera.”

Is Web 3.0 just a concept or reality?

The concept of Web 3.0 has been around since 2005, but it is still far from reality today. This is because there are many separate technologies that need to be combined and integrated into one system before we can say that the whole thing’s ready for prime time. For example, blockchain technology will allow for decentralized applications (DApps) to be created on top of the Ethereum network; however, these DApps would only be able to operate within their own ecosystem — they would not be able to interact with other external systems like Facebook or Google through their API connections currently available on these platforms as they currently exist within our current web 2.0 world order (which means no interaction between different websites).

Evolution of perspectives with Web 3.0

Web 3.0 is not a technological advancement, but represents an evolution in perspective about how we think about the internet and us. So Web 3.0 is a technological advancement; it’s just that it’s not the kind of advancement you’d expect from your average tech company with a single product to sell you on their newest platform or software suite (think Google with their search engine or Facebook with their social network). The vision behind web 3.0 isn’t necessarily new — it’s just more nuanced than past attempts at building a more powerful internet infrastructure have been able to achieve so far thanks to advances in technology like artificial intelligence (AI), blockchain technology, machine learning algorithms etc…

Web 3.0 will be defined by its users

Web 3.0 will be defined by its users and their actions more so than any specific technology or feature. The internet is a platform for people to connect, share and collaborate. Web 3.0 is about how we use that platform to create value for each other in ways that go beyond the traditional transaction between individuals or organizations — it’s about building a future where open source development leads us toward a networked world where everyone has access to all of our data — and not just what they want us to see.


Web 3.0 will be defined by its users and their actions more so than any specific technology or feature. It is not a technological advancement, but represents an evolution in perspective about how we think about the internet and us. As more people begin to use Web 3.0 concepts like decentralization, community-owned platforms for communication and collaboration, self-sovereignty of identity and even crypto-currencies like Bitcoin (which offer people financial autonomy), we can expect to see some major changes in the world of technology over the next decade or two!




CAIZ: Uniting tradition with fintech for ethical, secure & fiqh-compliant financial freedom.