Five reasons Web3 'humanisation' should drive adoption
The hype around Web3, or the third generation of the World Wide Web, has been considerable in recent years. Many people have hailed it as revolutionary technology that has the potential to change the way we interact digitally. However, despite all of the hype, it's become clear that aspects of Web3 are not ready to perform.
In a world not just connected by technology, but rather operating by technology, data dominion and governance is paramount. If people don't control their interactions and their data, they risk losing control of their very lives. That's where Web3 comes in, in theory. But, while emerging Web3 peer-to-peer protocols have made great progress, and Web3 applications are already generating real benefits for enterprises and users, these protocols haven't replaced existing network infrastructures. Web3 is failing to support the real needs of a digital interaction-dependent world-one where technology is integrated into human interactions.
"While Web3 is poised to be a transformative technology, much of the hype around it has created unrealistic expectations-especially given where the technology is in its lifecycle," says Anantha Krishnan, Founder and CEO of Sarva Labs, a Web3 pioneer developing a new protocol that reimagines the Internet. "Much of the articulated use cases have been off the mark, missing critical opportunities for productive communication around the technology, while also fostering a poor foundational understanding of its intention and practical usefulness."
Krishnan believes the transition to Web3 is not about simply improving technology. Perhaps what is required is a foundational paradigm shift that breaks existing perceptions that seem too narrow to instead see its full potential. "To establish a network that will mimic the complexity of human interaction and better enable a digitally interacting world, people on the Internet must elevate control of the infrastructure they use: their ID, their data, their storage and even their conception of value, so they can choose their own road," Krishnan explains. "Today, the Internet works according to a system designed for the Information Age. The current framework of the Internet hands all power over businesses and individuals to a handful of intermediaries like Amazon and Facebook. These unavoidable, controlling intermediaries strip users of any rights or privacy over their digital lives."
Krishnan says that, in these early stages of Web3, the focus should be on developing a global network whereby value is not another currency, or cryptocurrency, but rather an outcome of a free form value discovery-one that supports the inherent creativity and individuality of each participant. He goes on to explain that it should be one that puts them in control as he believes it was meant to be, ostensibly leaving them-and the global collective-happier on a perceptible level.
To address what has been deemed major impediments to Web3 adoption, Krishnan's own company is pioneering a new computational model: The Interaction State Machine (ISM). He underscores that this ISM-based protocol differs from previous Web3 protocols by incorporating participant context and preferences-such as trust-into the computational model itself. "The first of the ISM-based protocols is 'My Open Internet,' or MOI, which is a context-aware peer-to-peer protocol and a blockchain network that empowers its users to dynamically control their identity, storage and digital assets based on their unique needs," he explains. "Uniquely flexible, MOI is designed to work for almost any type of interaction."
According to Krishnan, here are five ways this emerging technology is transforming existing Web3 protocols and the Internet at large:
Generating "happiness" in digital interactions
Each time someone uses it, MOI creates a new structure, a cluster of nodes that is separate, though linked, to the network as a whole. On a blockchain, all interactions are persisted in one linear chain. MOI instead links clusters of data dynamically created according to users' preferences. This improves the old Web3 protocols by allowing MOI to operate without unworkable latency issues, and without sacrificing security as befits each person and their desires. MOI allows users to set personal values and gives them back control of their data. By allowing people to determine what they care about and what they want, MOI is designed to create a happier, more fulfilling experience on the Internet.
Realising personalisation as a right, not a choice
MOI offers the ability to create and transact values based on personal preferences, free from moderation. In the current web, platforms like Facebook and Twitter have faced controversy over their moderation practices. There are also growing concerns about what governments from countries like China may do with platforms such as TikTok. With MOI, individuals can express their values and preferences more freely, as the technology is designed to be an enabler for freedom, rather than a set of guardrails. This ability to more freely express values is a key aspect of what people love about the Internet, and MOI has the potential to deliver on this promise.
Increase satisfaction with day-to-day digital interactions
Currently, companies often rely on a general-purpose market experience, targeting groups of people rather than individual identities. With Web3, it is possible to create a platform that provides a private, personalised conversation with each customer, allowing them to create their own digital identity and preferences. This can enable companies to offer different loyalty models, pricing and experiences to individual customers based on their unique preferences and data
Gain peace of mind through complete identity control
One key aspect of the decentralised model is the creation of a digital identity that is free from intermediaries. With MOI, individuals can create their own digital identity that cannot be taken away from them, just as they are born into the physical world with their own unique identity. MOI creates a self-sovereign MoiID, a digital "me" that can serve as a foundation for a wide range of activities, including online transactions, communication and access to information.
Secure and own your digital footprint
One of the primary challenges for people thinking about transitioning from Web2 to Web3 is the daunting enormity of the task. The shift is absolute and no "cookbook" exists to walk users through the steps they need to adopt.
With MOI, a user can post pictures and transfer a token on the same network. This flexibility is a transformational change to the capability of a blockchain network. Without it, no Web3 application has successfully integrated decentralised storage into practical business applications and provided users with choice based on interaction context. MOI's approach to change management allows users to make incremental, manageable shifts to their online life.
"Too much emphasis is being placed on the end vision and specific, singular applications like the Metaverse, rather than focusing on the change management needed to aptly transition industry from Point A to Point Z as comfortably as possible," Krishnan says. "Perhaps most unfortunate is that analysis around the human ramifications have fallen far short. Web3's potential for solving real-world, daily problems for each and every individual is vast."
Despite the exaggerated hype and the current challenges, Web3 represents a significant shift in the way we interact and transact online. According to Krishnan, remaining in Web2 is no longer a choice, any more than communicating without technology is a choice for most people. "The transition to Web3 is the inexorable response of technology to future needs as we move to a digitally interactive model," he notes. "But, the computational model underpinning today's Web3 networks is imperfect, as it creates an inferior and complex user experience. By enabling a decentralised model, digital identity and personalised value exchange, MOI has the potential to revolutionise the way we do business and interact with each other."
Seems the C-suite and their IT department heads should increase their interest and focus on moving to ISM-based protocols in order to take advantage of the array of opportunities Web3 is ushering in.