Most of Web3 is based on blockchain, which includes Ethereum, Bitcoin, and ideas like decentralization and economies based on tokens. This is a new digital universe. It will change how eCommerce works, so let’s look at how eCommerce will change after web3.
Web3’s decentralized nature, which can hide Big Tech and any middleman, was one of its most interesting parts.
Wolfram Alpha and Siri from Apple are examples of web3. As we all know, Siri can talk and answer questions. This is made possible by speech recognition and artificial intelligence, which are used to search and find answers.
Web3, also called Web3.0, lets you take part without making money off of your personal information.
As we all know, blockchains and cryptocurrencies are the most popular terms. Because of this, the e-commerce industry will go through a lot of important changes that will lead to new shapes and settings.
The first version of the internet, called Web1, was mostly made up of links and homepages that didn’t let users do much.
Then Web2 came along, which gave users a whole new level of service. With read and write, users can also publish their own content for others to read. It offers a lot of services that can be broken down into personal information, which makes the public more worried.
The main difference is that you can read and write on Web2, but you can read, write, and own on Web3.
With the help of web3, the lack of trust we have in the current state of the internet can be fixed by constantly checking the identities and goals of users.
Centralized versus Decentralized
Blockchain also helps Web3, which is the next generation of the Internet, grow. It gives the data a new way to be stored and managed. Blockchain can manage a unique set of data as a whole (a universal state layer).
This unique layer makes it possible for the Internet to have a value settlement layer. The files can be sent in a way that makes it hard to copy them. This makes it possible for true P2P transactions to happen without a middleman, and it all started with Bitcoin.
Web3 keeps the information in more than one copy on a P2P network. In the protocol, the management rules are made official, and the majority consensus of all network participants is protected by rewarding their activities with native network tokens.
With the help of Blockchain, which is known as the backbone of web3 shopping website development, the data structure on the back end of the web is changed.
A governance layer is added, which makes it possible for two people who don’t know or trust each other to come to an agreement and settle it over the web. This layer sits on top of the current Internet.
The following headings will help you understand how Web3 can change eCommerce from different points of view:
Using Web 3.0 to work on eCommerce
If you want to buy a good sound system for your room, you could put on your AR/VR headset and go to a store that sells sound systems. There, you could use NFT or a scanner for a room to make your own model of your room.
After that, you’ll look for a unique sound system by testing its sound quality. If you like it, you can buy it with Crypto, and it will be sent to you by drone. Then, the blockchain log will show that you are the owner and
You can only find out if a product is real with the help of blockchain. With the help of Web 3.0, all of these things will be possible in the future.
How Web 3.0 affects e-commerce
In the real world and on the internet, the quality of the content is very important. Web 3.0 is different from Web 1.0 and Web 2.0 because it connects information and data. It also makes information out of data.
No matter what an e-commerce customer is looking for, Web 3.0 works for it. Its search engines work by pointing out the topics and search tools that are needed.
It also gives its eCommerce community access to the Cloud’s unlimited data, personal ideas for third parties, and a protocol for connecting to data and customizing web content.
Plans for the business model
Strategic thinking has been added to e-businesses. The business models for e-commerce on Web3.0 are very advanced. Strategies are like building plans.
- Some better ways to do business with Web3.0.
- Access to customer data for e-business purposes
- Putting together the client-customer chains
- Getting into high positions
Providing Licenses and Subscriptions
Web 3.0 lets its customers do things from different places. It does this by giving you a paid license that you can trust. Data can also be used for free inside the app. Only data from outside the app has to be paid for.