Say what you will about the big tech giants, but if you would have invested in any of them during the shift between Web 1.0 and Web 2.0, then you would mostly likely be reading this article sprawled out on your mega-yacht. To a certain extent, a similar analogy could be provided for the early adopters of Bitcoin, Ethereum, or even Shiba Inu, that have seen returns, which have been so unprecedented in investing.
Regardless of this however, our current collective internet experience is still widely stuck in the grips of a Web 2.0 stranglehold. The fact of the matter is that, with so much attention and so many business systems, based upon centralized platforms there will need to be a considerable onboarding effort made by Web 3.0 innovations. This is especially the case when it comes to infrastructure, where even current Web 3.0 platforms are operating out of a hybrid model that uses legacy systems like DNS for their web hosting.
Fortunately for Web 3.0 however, its underlying technology of blockchain is already making tremendous headway across a variety of domains, while its core values of decentralization, privacy, and user-incentivization offer a refreshing option compared to the data monetization strategy of Web 2.0. In a way, one could also argue that the fundamental difference between the two internets is a philosophical one. Whereas Web 3.0 resonates with the principle of syntropy, which organically appreciates over time, Web 2.0 is entropic since it is based off an extraction-based economy model that will ultimately depreciate as the years go by.
To date, Web 3.0 can already boast several successful use cases, which illustrate the value it brings in ushering in the next-generation of the internet. DeFi and cryptocurrencies in general, are two obvious but prominent examples, which have now provided an entire financial framework outside of the fiat system. Additionally simple but profound changes in flow and functionality, like the relationship between Web 3.0 browser-based wallets and dApps (decentralized applications), enable a whole new set of interactions to arise.
While these tools are certainly a promising foundation, there are still plenty of areas that are in need of transformation from Web 2.0 to Web 3.0. In most cases however, developers and entrepreneurs need not reinvent the wheel, but simply make subtle value-based shifts or change the underlying technology of already successful Web 2.0 business models. This has already been done on some level, with search engines, social networks, and even ISPs (Internet Service Providers).
With its robust technological capacity and open-minded outlook, the Algorand blockchain has found itself at the forefront of developments on the new web of late. Some of these have included, but are not limited to NFT-based tree planting projects, decentralized digital ownership for content creators, and blockchain-linked air quality sensors. The Algorand network also displays a progressive governance model, which operates off of DAO principles.
As such, VerdeX finds ourselves with a unique role to play in the construction of Web 3.0. Our core mission as an all-in-one DeFi suite, means that we are positioned to be a financial backbone for users, projects, and even organizations on the new web. Furthermore, products like the VerdeX Starter will be able to serve as a launchpad for Web 3.0 ideas and guide them through the various business stages.
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