Nejc Lepen, iPROM's CTO, shed light on the evolution of Web 3.0 – a developing digital environment that presents market players with a rare opportunity every 10 to 15 years. As the development of Web 3.0 advances, it is expanding beyond current capabilities such as dynamic web content like social networks and apps. With decentralization becoming more prominent, users are now at the center of the Web, with an emphasis on their values.
The next level of web development?
Web 3.0 marks a major milestone in the evolution of the Internet, ushering users into an entirely new era full of collaboration and data transparency. With its focus on providing greater value to consumers, Web 3.0 brings decentralization capabilities as well as unprecedented levels of interaction between advertisers, media companies, and customers.
Web 3.0 is presenting advertisers with a revolutionary opportunity to maximize potential and engage their audiences in an entirely new manner, setting it apart from similar periods that have occurred roughly every decade or so. Businesses can already use DAAPs (decentralized applications) to reward engagement through tokenization. The greatest benefit of Web 3.0 might be its protection of data collection as well as the sharing of information with competitors via advertising and analytics. It also delivers improved general transparency when it comes to data management.
Advertisers can now use innovative techniques for their marketing strategies and unleash the data creativity of their campaigns. Additionally, they can break away from major internet companies’ dominance of advertising – the so-called big tech walled gardens – enabling them to gain a competitive edge over other businesses.
Key challenges of Web 3.0
As we transition to Web 3.0, the most significant change will be in terms of user privacy and transparency, which is a crucial development for this new phase of web technology. In contrast to Web 2.0 which was heavily centralized by the dominant tech companies (FAANG), there is now an emphasis on giving power back into the hands of consumers and safeguarding their data from potential misuse or abuse from advertisers. This marks a return towards Internet philosophy as originally intended when it first began decades ago by putting respect for individuals’ rights over personal information at its very core!
Web 3.0 holds the potential to deliver an unprecedented level of decentralization to digital advertising and analytics, increase transparency for online publishers and provide them independent control over their monetization strategies. To accelerate progress towards this goal, iPROM has developed iPROM Private DMP (Data Management Platform), a set of advanced technological solutions that can help advertisers secure competitive advantage through insights derived from captured and secure first-party data while also building a solid foundation for future digital marketing efforts.