[OPLIN 4cast] OPLIN 4Cast #778: Web3: Is the fanfare premature?

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OPLIN 4Cast #778: Web3: Is the fanfare premature?
November 24th, 2021

[image: Man's hands holding a virtual earth] When it was born, the World
Wide Web wasn't called "Web 1.0." That designation came along later, when a
new, more participatory internet experience began to flourish, with users
generating their own content on blogs, in groups, within online social
networks. This "Web 2.0" has been with us for 20 years, and now the buzz is
about what's next: the metaverse, an experience built on what's being
called "Web3." Besides encouraging us all to buy things that aren't real,
what's all the hype really about?

   -
   - How 'Web3' could evolve from a trendy buzzword to a better internet
   <https://www.fastcompany.com/90696192/what-is-web3> [*Fast Company*]
   "The blockchain may give users a way to carry their social content (and,
   perhaps, their reputation) with them between social sites instead of having
   it locked to Meta, Twitter, or TikTok. It might form the foundation of a
   new kind of marketplace for people selling physical or digital goods, as
   NFTs (nonfungible tokens) are already doing."
   - What Is Web3 and Why Are All the Crypto People Suddenly Talking About
   It?
   <https://slate.com/technology/2021/11/web3-explained-crypto-nfts-bored-apes.html>
   [*Slate*] "A number of large companies and venture capital firms are
   already investing huge sums to build Web3, and it’s hard to imagine that
   their involvement wouldn’t amount to some kind of centralized power...
   Given how hard Facebook has fought to maintain its dominance in the social
   media landscape, it seems likely that it will strive to be a powerful
   institution even in a potential Web3 era."
   - People are talking about Web3. Is it the Internet of the future or
   just a buzzword?
   <https://www.npr.org/2021/11/21/1056988346/web3-internet-jargon-or-future-vision>
   [*NPR*] "In a Web3 world, people control their own data and bounce
   around from social media to email to shopping using a single personalized
   account, creating a public record on the blockchain of all of that
   activity... If part of the impetus is to resist giving up personal data to
   Big Tech companies, then the blockchain is not the solution, since that
   will make even more data public."
   - Web 3 Social Media Needs Dedicated Blockchains
   <https://www.coindesk.com/tech/2021/11/17/web-3-social-media-needs-dedicated-blockchains/>
   [*CoinDesk*] "While today’s general-purpose blockchains have worked well
   for storage-light applications like decentralized finance (DeFi), they
   cannot scale to handle storage-heavy applications like social apps and
   marketplaces. Imagine a world in which every 'like' or follow on a
   decentralized app costs $1.00+ in storage fees."

*From the Ohio Web Library <http://ohioweblibrary.org>:*

   - Wile, Rob. “NFTs for Kids? These Longtime Miami Tech Players Are
   Launching Digital Toys for Tots
   <https://search-ebscohost-com.proxy.oplin.org/login.aspx?direct=true&db=pwh&AN=2W6629005223&site=ehost-live>
   .” *Miami Herald, The (FL)*, 25 Oct. 2021.
   - Cumming, T.  "Using Technology to Prepare 21st Century Educators
   <https://oxfordre-com.proxy.oplin.org/education/view/10.1093/acrefore/9780190264093.001.0001/acrefore-9780190264093-e-1257>
   ." *Oxford Research Encyclopedia of Education.* 27. Oxford University
   Press. Retrieved 22 Nov. 2021.
   - LaPorte, Nicole. “Sphere of Influence
   <https://search-ebscohost-com.proxy.oplin.org/login.aspx?direct=true&db=buh&AN=153573106&site=bsi-live>
   .” *Fast Company*, no. 248, Winter 2021/2022 2021, pp. 72–95.

------------------------------
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