At first, to understand what web 3.0 is, you have to know what the previous versions refer to, that’s why we invite Pablo Betrano Innovation Coordinator of Grupo STT who will tells us how this evolution has been. 

• Web1: It refers to the Internet of the 1990s and early 2000s. It was the internet of blogs, message boards, and the first portals. In general, what people did on the web1 was read static web pages passively.

• Web2: People started creating and publishing their own content, actively participating on the internet. But most of that activity ended up being distributed and monetized by large companies.

• Web3: It will replace these centralized corporate platforms with open protocols and decentralized community-managed networks, thus combining the open infrastructure of web1 with the participation of web2 public.

What is web 3?

Web3 has become a general term for a new and better vision of Internet. Web3 is primarily based on the approach and use of blockchain, cryptocurrencies and NFT to restore energy in the form of property.

Benefits of web 3

• Web3 is decentralized: instead that much of the internet is owned and is controlled by a centralized entity, ownership is shared between its creators and users. 
• Web3 does not have permissions: everyone has the same permissions to join Web3 and nobody is excluded. 
• Web3 has native payment options: spend and send money online using cryptocurrencies instead on relying on an outdated infrastructure of banks and payments processors. 
• Web3 not based on trust: it works through incentives and economic mechanisms, instead of depending on trusted third parties. 

It is important to point out that the cryptocurrencies and NFT´s offer the ideal environment for ownership and payment in the web3 world; also, non-expendable Tokens (NFT) have many blockchain features that make them useful and integrable. As unique block chain tokens, NFT´s making it possible to transparently provide proof of ownership of digital art, music, data, game assets, personal records and much more

How does web 3 relate to artificial intelligence and metaverse?

This new paradigm allows the development of new business models, new products and services, new ways of relating to society, and of course deepen in the recognition of a new reality that is indissoluble mixture of the physical and the digital, the “phygital”. 

The ultimate goal of AI and metaverse is Web 3.0. for example, today in the Web 3.0 era we already see how it is possible to use blockchain technology and smart contracts to automate repetitive actions, free up time and resources for more creative and strategic tasks.

Many technologies are currently being tested with the objective of promoting automation of most tasks. This includes for example, artificial intelligence, big data or blockchain. How has Grupo STT adapted to the technological evolution?

“Web3 is a new and growing ecosystem. Hence, as part of these growth and avant-garde processes since last year in Grupo STT there was a significant increase in interest in cryptocurrencies and their use from the Simple Pay application, developed under these new standards, improvements in Layer 2 scalability solutions and a revolution in digital identity, what is coming for 2023 Pablo Betrano tells us.

Without doubt, with Simple Pay wallet it is possible to buy and exchange cryptocurrencies easily and safely; and more now when the future of internet will be with blockchain technology.

Paola Alexandra Urrutia

Regional Community Manager