Web3 is the decentralized vision of the web, the so-called third generation of the Internet. This generally means a vision for a new type of Internet built on decentralized, open-source technologies such as the blockchain.
In an earlier Digital Journal article, the importance of building in human-centric factors to the Web3 vision was spelled out by Anantha Krishnan, founder and CEO of Sarva Labs. In this follow-up article, Krishnan considers five ways this emerging technology is transforming existing Web3 protocols and the Internet at large. These are illustrated using the model of ‘My Open Internet’.
MOI is the world’s first user-centric personalization protocol for the emerging digitally interacting world (or ‘The Metaverse’). MOI functions as a protocol enabling human like interactions in the digital world with complete user privacy, personalisation and control.
Krishnan’s five ways are:
Generating “happiness” in digital interactions
According to Krishnan, each time someone uses it, My Open Internet (MOI) creates a new structure, a cluster of nodes that is separate, though linked, to the network as a whole. On a blockchain, all interactions are persisted in one linear chain.
Krishnan explains this concept: “MOI instead links clusters of data dynamically created according to users’ preferences. This improves the old Web3 protocols by allowing MOI to operate without unworkable latency issues, and without sacrificing security as befits each person and their desires. MOI allows users to set personal values and gives them back control of their data. By allowing people to determine what they care about and what they want, MOI is designed to create a happier, more fulfilling experience on the Internet.”
Realizing personalization as a right, not a choice
MOI offers the ability to create and transact values based on personal preferences, free from moderation. According to Krishnan: “In the current web, platforms like Facebook and Twitter have faced controversy over their moderation practices. There are also growing concerns about what governments from countries like China may do with platforms such as TikTok. With MOI, individuals can express their values and preferences more freely, as the technology is designed to be an enabler for freedom, rather than a set of guardrails.”
The benefits of this are connect with: “This ability to more freely express values is a key aspect of what people love about the internet, and MOI has the potential to deliver on this promise.”
Increase satisfaction with day-to-day digital interactions
Currently, companies often rely on a general-purpose market experience, targeting groups of people rather than individual identities.
Krishnan discusses: “With Web3, it is possible to create a platform that provides a private, personalized conversation with each customer, allowing them to create their own digital identity and preferences. This can enable companies to offer different loyalty models, pricing and experiences to individual customers based on their unique preferences and data.”
Gain peace of mind through complete identity control
One key aspect of the decentralized model is the creation of a digital identity that is free from intermediaries.
In looking into this, Krishnan says: “With MOI, individuals can create their own digital identity that cannot be taken away from them, just as they are born into the physical world with their own unique identity. MOI creates a self-sovereign MoiID, a digital “me” that can serve as a foundation for a wide range of activities, including online transactions, communication and access to information.”
Secure and own your digital footprint
One of the primary challenges for people thinking about transitioning from Web2 to Web3 is the daunting enormity of the task. Putting this into perspective, Krishnan states: “The shift is absolute and no “cookbook” exists to walk users through the steps they need to adopt.”
Krishnan adds that with MOI, a user can post pictures and transfer a token on the same network. As he states: “This flexibility is a transformational change to the capability of a blockchain network. Without it, no Web3 application has successfully integrated decentralized storage into practical business applications and provided users with choice based on interaction context. MOI’s approach to change management allows users to make incremental, manageable shifts to their online life.”
In terms of the human-centric approach, Krishnan observes: “Too much emphasis is being placed on the end vision and specific, singular applications like the Metaverse, rather than focusing on the change management needed to aptly transition industry from Point A to Point Z as comfortably as possible.”
He adds: “Perhaps most unfortunate is that analysis around the human ramifications have fallen far short. Web3’s potential for solving real-world, daily problems for each and every individual is vast.”
Despite the seemingly exaggerated hype and the current challenges, Web3 represents a significant shift in the way we interact and transact online.
According to Krishnan, remaining in Web2 is no longer a choice, any more than communicating without technology is a choice for most people. “The transition to Web3 is the inexorable response of technology to future needs as we move to a digitally interactive model,” he notes. “But, the computational model underpinning today’s Web3 networks is imperfect, as it creates an inferior and complex user experience. By enabling a decentralized model, digital identity and personalized value exchange, MOI has the potential to revolutionize the way we do business and interact with each other.”
