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5 Simple Things you should know about Web 3.0 and Adding Value To Time Spent Online

Donald (Donnie) Bullers is the Co-founder of Tuum Technologies, and he advances teams developing software for an entirely decentralised internet using Elastos open technology.

Donald is currently helping shape the World Economic Forum's Data for Common Purpose Initiative (DCPI), developing a platform that supports self-ownership in athletics to combat human trafficking through sports, and building a one-stop-shop decentralised identity solution for Web3 communities. He will also be speaking at our upcoming Web 3.0 Conference, get tickets here.

This article summarises the main 5 lessons I learned from a brief chat and email correspondence with Donnie about how Web 3.0 will massively transform the value from time spent online for users and companies.

Firstly, what is Web 3.0?

Web 3.0 is not one static platform, it is many open-sourced technologies building fundamentally new-type of network.

Web 3.0 alters our relationship to data and ownership by open-sourcing information on the blockchain.

For example, search engines in the Web 3.0 era will return personalised insights based on your search context, and centralised servers will be replaced with information on multiple computing devices.

Overall, it will be a peer-to-peer internet with no single authority running the show like we see on Web 2.0.

1. How does the Web 3.0 model increase the value of time spent over Web 2.0?

Thanks to self-sovereign blockchain technology such as Decentralised Identifiers on web 3.0, you're continually assembling a reputation that remains in your control no matter what product or platform you choose.

Unlike today where each individual app makes every effort to retain your attention and keep you inside its walls, Web 3.0 developers approach this problem differently. They can see that the system needs to be re-built from the ground up, on the premise that it should be built for the users and provide value for them rather than just the platforms they are on.

2. What benefits will this offer for individual users and companies?

For the first time in history, individuals are granted access to participate in the value creation of platforms and companies that can leverage the power of community rather than simply rely on the business advertising model to measure success. I had seen the evolution of the web described by Eshita as Web 1: read-only, Web 2: read-write, and Web 3: Read-write-own.

3. One username and Logins forever.

In Web 3.0, there are a few key elements that are different, starting with identity and login.

The username on Web 2.0 platforms is not yours, and we say recently the owner of the 'Metaverse' handle found this out while losing a dispute with Meta based on trying to claim ownership of the handle.

On Web 2.0, you can quickly lose this username and rights to all of the associated creations along with it. That's the first thing Web 3.0 companies like Elastos are dealing with and building out things with decentralised identifiers.

You can immediately have your own user name and login that's yours, and you own it completely. It's developed from the blockchain, so you can use that username on multiple platforms.

You don't have to create a new user name and login to every platform you join and be subject to their processes and data collection.

4. Supercharged community Access

The next thing that is changing is community access. So once you have your username and your login, you can join these communities and build on that identity. Similar to how you might get on a social media platform.

However, this will be across the internet. With this identity, you have verifiable credentials of who you are, and these credentials continue to add value to your identity with your data.

5. Monetising with Tokens

The last thing is tokens that will allow you to monetise your data and come together in groups. In Web 2.0, everything's free, and you're subject to the platform you're on, but in the Web 3.0 world, you do have ownership.

You own your login, your community, and you could take that with you on every platform, and it is all recorded, rather than separate across platforms; true interoperability.

For example, a brand with followers online and has spent all their time building, putting value into the name, growing their community on Web 2.0 could lose everything if the company decide to revoke access. However, Web 3.0 gives these communities control over their data and thus guarantees ownership and monetisation over time.

Tuum technologies, Donald's company, has a platform called profile.site. They build out this framework using Elastos technology for the identity component and the credentials and assign it to all users. This allows you to add the credentials, verifications, and badges from your current social platforms, add new elements from Web 3.0 and monetise this with tokens!

This is an exciting premise for all online content creators who have had to track across the desert of different social media platforms and personas for far too long.


Would you like a ticket to hear Donald and +50 other Web 3.0 speakers at our upcoming conference FOR FREE? Then go to this link now: https://www.web3conference.io/, click on 'buy ticket' and enter the code 'FREE' to claim your free ticket and save £50!

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