Three Reasons Why Your Business Should Switch To Web3

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Daniel A. Keller, CEO and President of InFlux Technologies Limited. Co-Founder of Flux. Read Daniel Keller's full executive profile here.

Web 2.0 was the version of the internet that unlocked a virtual world of social interaction and collaboration on the Web. For the first time, the internet went beyond basic, static HTML pages to dynamic websites with user-generated content . Then, search engines and social media applications like Google, Facebook, YouTube, Instagram and more emerged, and users could interact, sharing photos and videos with their friends, co-workers and family members.

Pages were censored, cybersecurity attacks skyrocketed and some corporations began to sell user data to advertisers for monetary gains. Providers could kick websites deemed not to conform with their policies off the internet or restrict them from appearing in Web results. In many cases, tech giants became both judge and jury.Russia Is Running Low On Tanks.

In a classic example of"If you're not paying for the product, you are the product," many Web 2.0 social media platforms actively encourage users to share data like personal information, preferences and more in return for the free use of the platform. This information and other data like buying patterns and website visits are tracked, recorded and then sold to advertising companies, which use it to create targeted ads.

In addition, data and transactions can be securely recorded on the blockchain. At the same time, developers can take advantage of technologies such as IPFS , where data is distributed across a network of servers , with each node only retaining a portion. This way, there's no single point of failure, making it significantly more challenging for malicious actors to compromise the system’s integrity.

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