The third-gen web is about public good

Subject: Science and technology

Section: Awareness of IT

Concept:

A 2021 report by the U.S.-India Strategic Partnership Forum states that the third-gen web will be crucial for India to realise its $1.1 trillion digital asset opportunity by 2032.

Web 3

Web3 is decentralised, privacy-oriented, blockchain-driven and crypto-asset friendly.
Decentralised data storage systems: Web3 seeks to radically transform the manner in which data is generated, monetised, shared and circulated. Further, it advocates decentralised data storage systems with the objective of unshackling the oligopolistic grip of technology behemoths over data.
Overcome the data storage barriers: Web3 has file-sharing systems such as the Inter-Planetary File System which are cryptographically protected, more secure and capable of functioning off Internet and off blockchains. In this manner, Web3 seeks to overcome the data storage barriers of blockchains.

Web 3.0

Web 3.0 upholds the property of the ‘semantic web,’ which is powered by Artificial Intelligence (AI).
Authentic and creative information: The real point about the semantic web is its ability to recombine information available on different websites to generate new content and knowledge resources that are more authentic and creative.
Better search engines: Followers of Web 3.0 claim that their version is endowed with robust capability on the data analytics front. This way, it is argued that Web 3.0 will create far better search engines.

How India can benefit ?

Helping Craftsmen: Web 3 platforms would enable handcraft enterprises to secure their innovations. Web 3-based instruction tools enable the rapid dissemination of grassroots innovations from master artisans to fellow members, which would improve the economic fortunes of craftsmen and artisan communities in north-east, western and peninsular India.
Exploiting community Data: In recent times there has been the rapid rise of community data. The Atal Bhujal Yojana is an important source of data on groundwater utilisation practices. However, this data is untapped, which can be exploited by Web 3.0.
Benefiting Rural community: One constraint today is the inability of data analytics capabilities to catch up with the pace of data generation in rural areas. By providing incentives for decentralised analytics and tokenising them (as envisaged in Web 3), it is possible to draw upon the talent pool for the benefit of rural communities.