Written by

Bernard Marr

Bernard Marr is a world-renowned futurist, influencer and thought leader in the fields of business and technology, with a passion for using technology for the good of humanity. He is a best-selling author of 20 books, writes a regular column for Forbes and advises and coaches many of the world’s best-known organisations. He has over 2 million social media followers, 1 million newsletter subscribers and was ranked by LinkedIn as one of the top 5 business influencers in the world and the No 1 influencer in the UK.

Bernard’s latest book is ‘Business Trends in Practice: The 25+ Trends That Are Redefining Organisations’

View Latest Book

Follow Me

Bernard Marr ist ein weltbekannter Futurist, Influencer und Vordenker in den Bereichen Wirtschaft und Technologie mit einer Leidenschaft für den Einsatz von Technologie zum Wohle der Menschheit. Er ist Bestsellerautor von 20 Büchern, schreibt eine regelmäßige Kolumne für Forbes und berät und coacht viele der weltweit bekanntesten Organisationen. Er hat über 2 Millionen Social-Media-Follower, 1 Million Newsletter-Abonnenten und wurde von LinkedIn als einer der Top-5-Business-Influencer der Welt und von Xing als Top Mind 2021 ausgezeichnet.

Bernards neueste Bücher sind ‘Künstliche Intelligenz im Unternehmen: Innovative Anwendungen in 50 Erfolgreichen Unternehmen’

View Latest Book

Follow Me

The Internet Of The Future: Here Are Best Examples Of Web3 In Practice

23 May 2022

Web3 is the term used to describe the “next level” of the internet – following on from web 1 (HTML, or the “world wide web”) and web 2 (social media, and the user-generated web).

The Internet Of The Future: Here Are Best Examples Of Web3 In Practice | Bernard Marr

Although exactly what defines a web3 site, service or application is still the subject of some debate, it’s generally agreed that it will be decentralized, with infrastructure that is owned by the users and creators. It will also be deeply linked to the real world due to being built on Internet of Things (IoT) technology and to the concept of immersive, connected environments (aka the “metaverse”).

It’s fair to say that, as I am writing this post, web3 is very much a work-in-progress, and different people have some very different ideas about what it will end up looking like. However, the fundamental principles are very much operational today and are being used to create a new generation of digital platforms and services that are already pioneering the concepts. Here’s a look at some of the most interesting and innovative that you can try out today:

Bitcoin

Some people might be surprised to see Bitcoin make a list like this, but the fact is that despite being over a decade old (far older than the term web3), it was the first decentralized digital currency, the first application to popularize the use of blockchain and is still the most widely used. Newer cryptocurrencies and blockchain platforms like Ethereum or Solana may be more sophisticated and geared towards web3 use cases like powering metaverse e-commerce, but Bitcoin itself still fits the definition of web3. Today, 36% of small businesses in the US are said to accept Bitcoin payments, and it is even recognized as legal tender in one country - El Salvador.

Ethereum

The blockchain network that powers the world’s second most popular cryptocurrency – Ether – and, beyond that, works as a platform for many of the decentralized applications that make up today’s iteration of web3. The Ethereum network is built on the work done by Bitcoin in creating a decentralized, encrypted digital ledger, adding the ability to run software code, known as decentralized apps (dapps), and even groups, companies, or corporations – known as distributed autonomous organizations (DAOs).

Pancakeswap

Pancakeswap is a popular exchange for trading and investing in cryptocurrencies and other decentralized tokens. It is built on the Binance smart chain – a smart blockchain network similar to the Ethereum network that can be used to build, launch and host other decentralized applications. As cryptocurrencies and blockchain tokens are themselves decentralized, web3 apps, it makes sense that users would want to trade them over networks that are decentralized themselves, rather than the original cryptocurrency exchanges, which were centralized and prone to vanishing overnight and taking the users’ funds with them. In theory, no one person or organization has control over a decentralized exchange, making it impossible for something similar to happen.

Secretum

This is a decentralized messaging app aiming to become the web3 version of WhatsApp or WeChat. It aims to prioritize privacy and security by allowing users to connect without an email address or phone number, both of which can generally be traced back to individuals due to the centralized nature of the service providers which host them. It also has built-in trading functionality for secure trading of cryptocurrencies and blockchain tokens such as NFTs.

Decentraland

This is an online virtual world – commonly referred to these days as a metaverse – where users can meet, chat, play games, socialize and attend events. Users can buy or rent plots of virtual land using the platform’s own cryptocurrency, called MANA. In recent years it has become popular with global brands and celebrities, including Samsung, Morgan Stanley, PwC, Adidas, and Snoop Dogg, all keen to have their own stake in the metaverse. Decentraland is governed by a DAO comprised of users and owners of land within the platform, which implements rules and regulations via a democratic process.

DTube

Essentially a decentralized Youtube-style video streaming platform. Rather than a centralized corporation (in this case, Youtube owner Alphabet) controlling which videos can be seen and when they appear in users' feeds. Importantly, they also decide which videos can be monetized and, therefore, which users can earn money from their videos. This is all done according to a set of rules and regulations over which the site owners hold total control. DTube attempts to put this power in the hands of its users, with all decisions on video visibility governed by views, shares, and likes. There are no "owners," in the traditional sense, who can censor content uploaded by simply removing it from their servers.

Filecoin

This is decentralized cloud storage for personal files – like a decentralized Google Drive or OneDrive. It is fully open-source, so anyone can examine the source code to determine that it is actually doing what it says it is doing and that there are no potential security holes that attackers could use to get at the data being stored. Users can offer up their own spare storage space to the network and get paid for doing so in the service's own cryptocurrency.

Steemit

A decentralized social blogging site, similar to Reddit, where users can get paid for their content based on community voting. Steemit is built on its own blockchain, called Steem, and uses its own cryptocurrency with the same name. As of writing, 1.7 million accounts are registered with the platform.

Everledger

Everledger is a private, centralized company that offers a number of decentralized solutions operating on private blockchains. These are aimed at providing transparency, accountability, and provenance in supply chains across various industries, including art, luxury goods, diamonds, and fashion. It is somewhat different from other examples of web3 applications in that it is built on Hyperledger Fabric, originally developed by IBM, and its focus is on creating proprietary, industry-specific solutions. This demonstrates the fact that there are many different views on what constitutes web3 and where the future of the decentralized internet is heading.

Business Trends In Practice | Bernard Marr
Business Trends In Practice | Bernard Marr

Related Articles

The Amazing Ways Nike Is Using The Metaverse, Web3 And NFTs

Artificial intelligence (AI), e-commerce, and in-store experiential technology have been integral to the brand’s strategy for many years.[...]

The Best Examples Of DAOs Everyone Should Know About

The Decentralized Autonomous Organization (DAO) is a web3 idea that allows communities, corporations, or any type of collective organization to be administered and governed without centralized leadership, thanks to the ability of blockchain.[...]

10 Skills Robots Can’t Replace In The Workplace (Yet)

Machines can now do many things we would have deemed impossible a few decades ago – but there are still human skills robots can’t yet replace.[...]

The Biggest Technology Trends In Wine And Winemaking

When we think about the wine business, the images that come to mind might be more of vineyards stretching across the French countryside than of robots and digital transformation.[...]

10 Amazing And Innovative Examples Of NFTs Everyone Should Know About

NFTs stepped into the limelight in 2021 with a number of projects achieving multi-million-dollar valuations and sales.[...]

How The Metaverse Will Change Cryptocurrency

The metaverse and cryptocurrency seem to be concepts that go hand-in-hand – virtual worlds and virtual money to spend in them.[...]

Stay up-to-date

  • Get updates straight to your inbox
  • Join my 1 million newsletter subscribers
  • Never miss any new content

Social Media

0
Followers
0
Followers
0
Followers
0
Subscribers
0
Followers
0
Subscribers
0
Yearly Views
0
Readers

Podcasts

View Podcasts