Nearly 4 trillion hours. This shows the amount of time consumers worldwide spent gazing at their phones in 2021. While this figure is nearly unbelievable, it should not come as a surprise given our increasing dependency on the internet, which has grown more prominent during the Covid-19 epidemic.
Since the birth of the World Wide Web in the 1980s, the internet has come to revolutionize the way people live, work, and play. Today’s internet has become an essential component of our daily lives, even fueling the global economy from business to recreation. According to a study conducted by App Annie’s State of Mobile 2022, seven out of every ten minutes spent on our phones were spent on social or picture and video applications, attesting to Web 2.0’s dominance in our daily lives.
However, while the internet — and Web 2.0 — has undeniably become almost irreplaceable in today’s world, issues such as data privacy and system outages have emerged over the last couple of decades, leading to growing discontent as the general public begins to question the tech giants’ use of their personal data.
Is it a fresh vision for the future or a pipe dream? The Case for a Decentralized Web
As requests for increased control and autonomy over data privacy and digital identity grow stronger, the concept of Web 3 seems to be attractive. Even as Web 3 concepts like non-fungible tokens (NFTs) and the metaverse gain popularity, challenges such as cybersecurity concerns and continuous dependence on centralized ecosystems remain, as seen by the recent CoinMarketCap pricing malfunction.
Continue reading: https://medium.datadriveninvestor.com/how-will-web3-potentially-transform-a-decentralized-world-158fc24c65a6
Since the birth of the World Wide Web in the 1980s, the internet has come to revolutionize the way people live, work, and play. Today’s internet has become an essential component of our daily lives, even fueling the global economy from business to recreation. According to a study conducted by App Annie’s State of Mobile 2022, seven out of every ten minutes spent on our phones were spent on social or picture and video applications, attesting to Web 2.0’s dominance in our daily lives.
However, while the internet — and Web 2.0 — has undeniably become almost irreplaceable in today’s world, issues such as data privacy and system outages have emerged over the last couple of decades, leading to growing discontent as the general public begins to question the tech giants’ use of their personal data.
Is it a fresh vision for the future or a pipe dream? The Case for a Decentralized Web
As requests for increased control and autonomy over data privacy and digital identity grow stronger, the concept of Web 3 seems to be attractive. Even as Web 3 concepts like non-fungible tokens (NFTs) and the metaverse gain popularity, challenges such as cybersecurity concerns and continuous dependence on centralized ecosystems remain, as seen by the recent CoinMarketCap pricing malfunction.
Continue reading: https://medium.datadriveninvestor.com/how-will-web3-potentially-transform-a-decentralized-world-158fc24c65a6
