This article was written on cooperation with Tanvir Zafar
If there’s one constant thing in life, it’s change. We’ve seen it happen time and again, and there will be more opportunities for the world to change as we move further. Currently, the internet and tech space is buzzing with the prospect of Web3 – a new iteration of the internet where people get to control their data and their identities.
The Web3 mania rises by the day, and it should. The world has held on to this iteration of the internet for a long time, and it seems like it’s time for a new change. However, how long will we have to wait for this revolution to come full circle?
To begin with, it is worth noting that Web3 is here in many ways. We already have products being built that will challenge the status quo and bring a new lease of life into how we view the internet. A perfect example is the Super Protocol, which combines blockchain and confidential computing technology to form the perfect cloud service for the future.
While Amazon Web Services (AWS) rules the cloud computing world right now, the Super Protocol is building a future where data will be held in a decentralized manner and available to you at all times. The protocol maintains anonymity and censorship resistance, making it the perfect leader of the cloud space when Web3 comes to life.
However, this is just one protocol in one field across the entire tech spectrum. For Web3 to truly become what we think it will be, it needs to be more than what it is now.
And right now, a lot of people don’t even believe that we should be excited for Web3 yet. Charlie Munger, the billionaire investor at Berkshire Hathaway and Warren Buffett’s right-hand man, recently claimed that the hype surrounding cryptocurrencies – one of the cornerstones of Web3 – is being even crazier than the dot com bubble.
Wherever you look, there are articles telling people not to be too optimistic about Web3 and to simply give up on it. For concerned Web3 enthusiasts, this fear might be a real one. How long do we have to wait? Will Web3 even arrive?
Change is a lengthy process
It is important for Web3 enthusiasts to understand that change never happens in a day. Web3 is a promise to revamp the internet – perhaps the single most important invention in human history. A change of this magnitude won’t happen in five years – probably not even 10.
Instead, what we will see is an incremental evolution. Cryptocurrencies are a perfect example of this – Bitcoin was built just in 2008, and it has grown to become one of the most popular financial assets of our time in just 13 years. But, even that journey wasn’t a smooth one.
Today, the crypto market is worth over $2 trillion. Still, it is significantly dwarfed by markets like alternative assets and even forex. Regardless of the relatively small size, everyone understands that the future of money is crypto.
So, the same should happen to Web3. The world is overrun by big tech companies that control massive amounts of data right now, and they will most likely maintain their control for a very long time. What Web3 platforms can do is start building and eating up small chunks of the marketplace. As more platforms come into the forefront, it becomes impossible to hold web3 back.
It’s a case of decades right now
Putting a timeframe on the completion of the Web3 revolution is impossible. There are way too many gears moving at the same time, and it will be impossible to say when Web3 will come to the forefront.
Going by the crypto example, it’s easy to believe that Web3 will be a big hit already by the next few years. However, it is also worth noting that this is a concept that will change much more than just how we spend money. Web3 will be a paradigm shift that will envelop the entire world. For that to happen. A lot of things need to be in place.
So, it might be worth taking out any notion that we’re in for a five-year or a ten-year relationship. The truth is that Web3 might not be fully formed in the next few decades. Still, it’s fine – at the end of the day, the point is for the internet to change, and we all can’t wait for that to happen.
A lot to be excited for nonetheless
Of course, the fact that we’re facing such an extended timeline for the introduction of Web3 doesn’t mean that there isn’t a lot to consider right now. The availability of platforms like the Super Protocol means that we’re trending in the right direction, and the internet is truly evolving.
There’s also the fact that everyone seems to understand that we need a new internet. The days of big tech companies holding all the data are over, and we’re about to enter into a new dispensation.
Right now, Web3 enthusiasts can be happy about what’s to come. At the same time, builders should not be discouraged from building. Solutions come in different forms, and Web3 is looking to be a complete solution to the current internet we have. For this solution to be complete, every builder’s skills are needed. The only thing you need to remember is to build and build right.
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