Is web3 the future of the Internet? Microsoft thinks so

It’s well known that Microsoft has been at the forefront of AI, ever since the subject gained popularity. Nowadays, the Redmond-based tech giant is a usual sight in all AI matters. Let’s take a look at Llama 2, which is the LLM AI product of the partnership between Microsoft and Meta.

Even more, Microsoft is also a founding partner at the Frontier Model Forum, and together with Anthropic, Google, and OpenAI, the company pledges to safer AI development.

So when it comes to AI, Microsoft is there. This is why the company has forged a partnership with Aptos Labs (not to be confused with Microsoft’s new default font, however), with the aim of bringing the web3 technology into the mainstream.

In a press release, Aptos Labs will collaborate with Microsoft on an AI assistant called Aptos Assistant, to help people understand the benefits of onboarding into web3.

Artificial Intelligence and blockchain technologies are quickly converging for one important reason: they are both generational breakthroughs that profoundly impact the evolution of the internet and shape society. Together with Microsoft, our shared vision is to ensure that this technology is accessible to more people and organizations than ever before.

Aptos Labs

However, it’s very important to know what web3 is, and then we could make informed decisions on whether we like to onboard on it or not. So what is web3 technology? And why it is considered the future of the Internet?

What is web3 technology?

A mere search on the Internet describes web3 as an idea of a new iteration of the World Wide Web which would include decentralization blockchain technologies as well as token-based currencies and economics.

While there is a lot to say about web3, you need to know that the main goal of it is to decentralize the Internet. For now, all the big tech companies, including Google, Amazon, Meta and Microsoft, and the most recent TikTok, have a monopoly on user’s data.

Web3 would decentralize this data, and it would change the Internet’s architecture to such a degree that it would radically change the way we, as users, interact with it and financially benefit from it.

Some of the most important features about the web3 technology include:

• AI – artificial intelligence is an important key in web3 technologies because it can be used to curate and generate content tailored to each user.
• Blockchain technologies – which would allow for a faster, encrypted, and more authentic share of data.
• Cryptocurrencies – virtual tokens that can be used to purchase virtual and physical goods without being tied to a financial authority.

What would web3 mean to you, as a user?

Well, it’s hard to pinpoint exactly the advantages and disadvantages of using web3 since the technology is just at the start of its era, but there are some important points to remember.

Web3 advantages would include:

• Privacy and security.
• Transparency.
• Financial decentralization.
• Personalized internet experience.

However, the disadvantages so far are also numerous:

• Lack of regulations and laws which can leave you defenseless in case of a bad point.
• The complexity of web3 technology will be a real challenge for IT managers and admins.
• Security is also a drawback, even it if’s theoretically stronger here. It will be also harder to solve or intercept cybernetic attacks.
• And for now, the web3 technology requires a lot of hardware power.

Why would Microsoft want to bring web3 technology into the mainstream?

The Redmond-based tech giant has been investing a lot of resources in AI, and currently, the company is probably the best AI developer in the world. The web3 technology would require a lot of AI assistance, and generally, it will be an AI-driven Internet.

So Microsoft could see an opportunity here, to become the most important player on the market. Considering the other giants, such as Google, Amazon, or Meta, already have a sort of monopoly in their respective fields, Microsoft sometimes struggles with it, and the competition in the OS market is fierce.

But the company has found a fascination with AI products, and so far it has been very proficient at delivering the best AI solutions on the market. So in many ways, Microsoft is ready to embrace web3.

Not to mention, the web3 technology would greatly destabilize the tech market, and companies such as Meta and Google, which thrive on users’ data, would quickly be heavily affected by it.

So in this regard, it’s easy to see why Microsoft thinks web3 is the future.

But what do you think about it? Are you excited about the web3 technology or not? Let us know in the comments section below.