Business and social networks based on blockchain will continue to grow and prosper in the years to come. As the current search engines and social media networks are so embedded in cultural norms, experts predict that it will be challenging to exclude them from the conversation completely.
But it is believed that the transition to Web3 will be inevitable, and the IoT (Internet of Things) economy will play a central role in it: we will be able to interact with any individual or machine in the world without using intermediaries.
From seamless payments to enhanced information flows and secure data transfers, a vastly increased number of potential counterparties will be able to interact with one another, and machine learning algorithms will help build new types of online markets and associated business models.
Overall, Web 3.0 will make the internet fairer by enabling the individual to be sovereign. As a result, individuals will have access to an Internet where they can own and be properly compensated for their time and data, which will supplant the current exploitative and inequitable web, where giant, centralised repositories are the only ones who profit.