[Solved] With reference to Web 3-0, consider the following statements: Web 3-0 technology enables people to control their own data. In Web 3.0 world, there can blockchain based social networks. Web 3.0 is operated by users collectively rather than a corporation. Which of the statements given above are correct?

Q32) With reference to Web 3-0, consider the following statements:

1. Web 3-0 technology enables people to control their own data.
2. In Web 3.0 world, there can blockchain based social networks.
3. Web 3.0 is operated by users collectively rather than a corporation.

Which of the statements given above are correct?

1. 1 and 2 only
2. 2 and 3 only
3. 1 and 3nly
4. 1, 2 and 3

Answer: 4

Web 5.0

· Former Twitter CEO Jack Dorsey recently announced his vision for a new decentralized web platform that is being called Web 5.0 and is being built with an aim to return “ownership of data and identity to individuals”

World Wide Web

· Also known as a Web, is a collection of websites or web pages stored in web servers and connected to local computers through the internet.

· These websites contain text pages, digital images, audios, videos, etc.

· Users can access the content of these sites from any part of the world over the internet using their devices such as computers, laptops, cell phones, etc.

History

Web 1.0

· Web 1.0 is the world wide web or the internet that was invented in 1989. It became popular from 1993.

· The internet in the Web 1.0 days was mostly static web pages where users would go to a website and then read and interact with the static information

· Even though there were e-commerce websites in the initial days it was still a closed environment and the users themselves could not create any content or post reviews on the internet. Web 1.0 lasted until 1999.

Web 2.0

· Web 2.0 started in some form in the late 1990s itself though 2004 was when most of its features were fully available. It is still the age of Web 2.0 now.

· The differentiating characteristic of Web 2.0 compared to Web1.0 is that users can create content.

· They can interact and contribute in the form of comments, registering likes, sharing and uploading their photos or videos and perform other such activities.

· Primarily, a social media kind of interaction is the differentiating trait of Web 2.0.

Issues with Web 2.0

· In Web 2.0, most of the data in the internet and the internet traffic are owned or handled by very few behemoth companies.

· This has created issues related to data privacy, data security and abuse of such data.

· There is a sense of disappointment that the original purpose of the internet has been distorted.

Web 3.0

· Web3 will deliver “decentralized and fair internet where users control their own data”

· Currently if a seller has to make a business to the buyer, both the buyer and seller need to be registered on a “shop” or “platform” like Amazon or Ebay or any such e-commerce portal.

· Web3 tries to remove the role of the “platform”.

· For the buyer to be authenticated, the usual proofs aided by block chain technology will be used.

What is Web 5.0?

· Being developed by Dorsey’s Bitcoin business unit, The Block Head (TBH), Web 5.0 is aimed at “building an extra decentralized web that puts you in control of your data and identity”.

· Talking about the idea on its website, the TBH says: “The web democratized the exchange of information, but it’s missing a key layer: identity.

· We struggle to secure personal data with hundreds of accounts and passwords we can’t remember. On the web today, identity and personal data have become the property of third parties.”

· Simply put, Web 5.0 is Web 2.0 plus Web 3.0 that will allow users to ‘own their identity’ on the Internet and ‘control their data’