A Review of the Nature of Web 3.0 and Its Effects on Global Markets

Document Type : Original Article

Authors
Yegane Kharat 1
Mehran Bahram arjavand 1
fatemeh kamalinezhad 2
ali kalantary 2
1 BS student in Financial Management, Sari Branch, Islamic Azad University, Sari, mazandaran iran
2 BS student in Business Management, Sari Branch, Islamic Azad University, Sari, Iran
10.22034/jmek.2024.148628
Abstract
With the rapid advancement of the Internet, web technology is evolving at an unprecedented pace. The traditional version of the Web, known as Web 1.0, possessed only the ability to display static information, preventing users from creating or modifying content. With the advent of Web 2.0, a new form of Internet-based interaction emerged, allowing users to actively engage with websites and generate their own content. This paradigm shift transformed the Web platform from a static state to a dynamic ecosystem. Currently, the third generation of the Internet, termed Web 3.0, has emerged with the ambition of transforming the digital space into a massive, intelligent, and decentralized database. Since the concept of the third-generation Web remains unfamiliar to many individuals and global market stakeholders, this article adopts a descriptive-analytical approach to examine the evolutionary trajectory of the Web from its first to third generations. In this research, while reviewing the fundamental characteristics of Web 3.0—such as the Semantic Web, Artificial Intelligence, and three-dimensional environments—the structure and technological trends are thoroughly analyzed. Furthermore, the close relationship between Web 3.0 and blockchain technology is investigated, specifically focusing on how intermediary removal and the creation of a decentralized economy alter business models and global markets. The ultimate objective of this paper is to achieve a deeper understanding of the nature of Web 3.0 and its structural impacts on future digital interactions, data ownership, and international markets, thereby providing a clear vision of the next generation of the Internet.
Keywords
Web 3.0
Internet
Technology
Semantic Web
Blockchain.
Subjects
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  • Receive Date 25 August 2023
  • Revise Date 10 November 2023
  • Accept Date 07 December 2023