We’re on the edge of a technology revolution that will involve AI, machine learning, 5G, and blockchain. Web 3.0 requires social, economic, and business reforms. Open-source software, the Internet of Things, and open access scholarly outputs are examples of the current revolution.
This study will help you understand Web 3.0’s assumptions and anticipate its commercial impact. We’ve added industry advice and tips for implementing Web 3.0 to achieve a competitive advantage (including banking, e-commerce, and healthcare). We want you to be okay with the shift. You just need to adapt. Let’s start at the beginning and follow the web’s progression from Web 1.0 through Web 2.0 to Web 3.0.
Web 1.0, 2.0 and 3.0

Tim Berners-Lee delivered the first web implementation in 1989. Hyperlinks allowed for non-linear navigation based on user choices and demands.
The early “readable” phase of the World Wide Web had minimal user-website interaction. Second-generation internet, about 2005, allowed worldwide communities with similar interests and user contact. Web 2.0 is a “writable” platform dominated by social media, real-time information exchange, and self-publishing platforms like WordPress and blogs.
Web 2.0 has underlined the dominance of huge businesses who saw a profit potential in collecting and processing user data. Web 3.0 aims to make the web transparent, user-centered, decentralised, and safe.
Web 3.0’s User Centric Model

There are other terms associated with the concept of Web 3.0, such as “the semantic web,” “3D Web,” and “the Spatial Web.” Each provides a snippet of information about a still-evolving successor to Web 2.0. Whatever its name, the core goal of the next generation web remains the same: to return the web to its users.
Distributed ledger technologies, such as blockchain, are critical for Web 3.0 in terms of information management. Blockchain is a distributed, anonymous, and unchangeable record of all network operations that ensures data integrity and security.
As a result, it forces open ecosystems with no central regulation, in which business intermediaries are marginalised in favour of enhancing the value of a service or product. Because of its features, blockchain can be employed in any business that involves data exchanges.
3 Universal Business Ideals in the Web 3.0 Era

The semantic web is a phenomenon that blurs the lines between science and ethics. As a result, before delving into individual industries, it is critical to explore the universal business values that will be critical in the Web 3.0 era:
- Transparency: Transparency in brand-client relationships while maintaining the highest level of user privacy. Allow your users to choose how their data is processed.
- Creativity: Try to respond to your consumers’ requirements as rapidly as possible, using new technologies and solutions that take advantage of the metaverse convergence of the digital and physical worlds.
- A user-centered approach: Your product must provide actual value to your users while also having a beneficial social impact. Keep these buzzwords in mind: user-centered approach, open collaboration, and community.
Web 3.0 is a technology that is facilitating broad social, political, and economic change. But what does this seemingly inconsequential shift entail for various business sectors?
Fintech and Web 3.0

Web 3.0 is a permissionless network that does not require a governing authority. Open financial protocols allow for the execution of peer-to-peer actions protected by blockchain technology.
As a result, Web 3.0 can provide substantial competitive benefits for the fintech industry, including:
- Service continuity – By keeping data at decentralised, dispersed nodes, fintech companies can reduce their spending on unforeseen server faults or seizures.
- Quicker transactions – Peer-to-peer digital services with no third-party beneficiaries (e.g. payments, loans, BNPL, lendings) are transparent, secure, and significantly faster.
- Data processing that is automated- AI and ML technologies enable organisations to quickly respond to changing user needs, resulting in continuous improvement of the customer journey.
- Mutual trust – Because of the decentralised data architecture, each fraction has access to the same information, preventing data from being altered or hacked. At the same time, end users retain complete ownership and management of their data.
- New opportunities – Web 3.0 solutions can overcome various spatial, infrastructure, and security limits, opening up new chances for investors, such as the introduction of novel financial services in the most competitive marketplaces.
The finance Web 3.0 shift has already begun. Currently, advanced technology advancements are applied in a variety of situations, including:
- Lowering call centre demand – To reduce client calls, the Royal Bank of Canada used deep reinforcement learning.
- Improvement in fraud detection – BNY Mellon increased their fraud prediction accuracy by 20% thanks to collaborative multi-party GPU computing.
- Lending services provided by decentralised finance – Bitcoin Suisse has recently started selling contracts based on ETH collateral, allowing customers to mint and borrow the Liquidity Dollar stablecoin.
E-commerce and Web 3.0

With each web version, e-commerce evolves. The original e-commerce platforms were a combination of physical and digital stores that relied on early pick-up and drop-off solutions. The monopolised e-commerce 2.0 paradigm incorporates more interactive solutions, such as product recommendations and order management.
E-commerce 3.0 intends to create an open, no-middleman, customer-centric economy. As a result, when redesigning the digital shopping experience, it is vital to consider the following features:
- ML and AI-based customisation – Tailoring the product or offer to the specific demands of each consumer is likely to increase CLV and product/market fit, as well as partially replace short-term performance marketing efforts.
- Customized subscription models – Companies can boost customer loyalty, assure a greater customer retention ratio, and insure long-term brand growth by using flexible subscription models that are totally automated within the blockchain.
- P2P payments that are safe – Blockchain-secured P2P transactions are safer, faster, and less vulnerable to third-party threats.
- Data security and privacy – Blockchain, according to M. Damlapinar, L’Oréal’s eRetail Director, will make it easier for e-commerce companies to develop effective authentication mechanisms and encrypted digital IDs for improved identity management.
- XR solutions – An increasingly popular trend that symbolises the digital/physical convergence of Web 3.0 is the immersive shopping experience, such as positioning objects to view in actual space or virtual try-on.
Healthcare and Web 3.0

There is little doubt that the epidemic has aided the healthcare industry’s fast digitalization during the last two years. As a result, access to specialised care is more readily available, consistent, and secure.
Telemedicine, health forums, and telehealth platforms allow quick and ubiquitous access to a variety of services in the Web 2.0 era. However, the true cost that users pay for this ease is debatable.
So, how can Web 3.0 become a panacea for the healthcare industry?
- Electronic health records (EHRs) owned by patients – Sensitive data dispersed over distributed ledgers stays immutable and confidential.
- Enhancements to preventive care – Personal healthcare apps and wearable technology are being developed and customised to promote patient self-management. Prevention is preferable than treatment, because it benefits both individuals and the healthcare system.
- Improved access to health-related information The semantic nature of Web 3.0 allows for improved integration of EHRs into open information architecture. It enables rapid access to the patient’s treatment history in the event of an emergency, as well as an improved flow of expert knowledge.
- Increased verifiability – No intermediaries are required for the encrypted health records. They can be verified at the source while also being efficiently verified by DeFi techniques.
Bottomline
Entering the Web 3.0 reality will definitely necessitate the reformulation of the whole business model for many organisations. Adaptation will be difficult, but there is no doubt that understanding the nuances of a transparent semantic web will allow firms to establish a competitive advantage that will be tough to compensate for those that choose to lag behind.
We, Pirimid Fintech, has deep experience of working with Web 3.0 projects. Reach us out if you want to use Web 3.0 in your business.