With its decentralized architecture and emphasis on security, web3 provides an ideal platform for businesses of all sizes to thrive. In this blog post, we will discuss the benefits of web3 technologies for small businesses and explore how this innovative technology can help you achieve success in the years to come!
Where we are now
We’re solidly in the web 2.0 era – otherwise known as the “participative social web”. The rise of social media has allowed more people than ever to create and contribute to the world.
While web 2.0 has driven advancements in technology and allowed us to expand our knowledge and reach, we’ve all seen the negative effects it can create.
Corporations have exploited people, mining personal information and user data, using it to manipulate consumers.
Did you ever get that creepy feeling Facebook is listening to your conversations?
They’re not – it’s even more sinister.
They mine so much information about you, your interests, the people you interact with, the things your friends like, etc. that they know you better than anyone else, and know exactly what content to feed you to make you buy.
How can we build a better web?
The great thing about web technologies is that they can be used for good as well as evil.
And that’s where Web3 comes in.
Web3 is the next evolution of the internet. At the core is decentralization – it puts the power back into the hands of individuals.
It’s designed to be secure, private, and efficient. And it’s this combination of features that make it perfect for small businesses.
When we talk about Web3, it’s not any single new technology, it’s an ideal and a desire to drive towards something greater for society.
Here are the core characteristics of Web3:
- The Semantic Web – The web evolves into a tool that allows people to better create, share, and connect. It’s built upon the comprehension of words and value, not numbers and keywords designed for the machine (Google).
- The Artificial Intelligence (AI) Revolution – It makes AI and natural language processing (NLP) more accessible, helping computers become smarter and more responsive to people’s needs.
- Connecting to the real world – It seamlessly connects the digital with the physical by leveraging the Internet of Things (IoT). It makes technology more accessible, allowing people to connect anywhere, anytime, without necessarily needing a computer or smartphone.
- Permissionless – It removes the need for authorization from a governing body. Making the ability to create a share more accessible.
- Decentralized Blockchain Technology – This use includes payment Blockchains, peer-to-peer digital financial transactions, blockchain based smart contracts, and cryptocurrency.
- Decentralized Autonomous Organizations – Web communities built with a goal in mind. Every member within a DAO shares that common goal and attempts to act in the best interest of the entity as a whole.
Benefits of web3 for small business
There are many benefits of Web3 for small businesses. Let’s take a look at some of the most important ones:
Security: With data spread across a decentralized network, it is much more difficult to hack or manipulate. This is especially important for businesses that handle sensitive customer data.
Privacy: Web3 provides individuals and businesses with the ability to control who has access to their data. Data moves away from large corporations and social networks. Instead, only data that’s vital is collected and stored privately. That data is used for the good of the consumer, to improve products and services, and not used to manipulate or coerce.
Decentralized Community: A small business can become more than a profit machine. By creating a decentralized community, a business can encourage people to come together to build a single vision, allowing consumers to feel more empowered and connected to the products and services our communities need.
Ethical Marketing: I’ve written about ethical marketing before, and Web3 can act as the catalyst we need to promote ethical marketing techniques. People are tired of being manipulated. We’ve become cynical, and often question the authenticity of businesses we interact with. Web3 is a marker that allows us to change that.
A vision for the future of the web
The digital landscape today is truly scary. Corporations, brands, and con artists, leverage deep-rooted psychological and manipulative techniques, backed up by big data and technology to take advantage of consumers and maximize profits.
My vision for the web is different. Yes, the internet has a global reach, but many small businesses operate locally, and within their communities. They’re sincere in their desire to help others – of course, while making a profit – but generally, small businesses are run by folks who are passionate about what they can provide to society.
How can we leverage technology for the greater benefit of our community? Instead of using marketing to manipulate consumers?
What we do today to build a better web
- We start by building ethical products and services. We think about how our products will impact society and the environment, not just our bottom line.
- We’re united by our values and a desire to build something different. Something that we can all be proud of.
- We avoid unethical marketing techniques and support movements like the ethical move.
- We don’t collect private or personal information. We avoid invasive analytics services like Google Analytics (ever wonder why it’s free?).
- Instead, we opt to use privacy-focused analytics services like Fathom Analytics (affiliate link).
We have big plans for the future. But we’re taking it one step at a time. Our goal is to build a better web, and that starts with each of us doing our part.
What can you do to help build a better web?
There are many things you can do to help build a better web.
- You can start by being more aware of the brands you support and the companies you buy from. Do they share your values? Are they using ethical marketing techniques
- You can also vote with your wallet – support businesses that are building a better web. And when you have a chance, tell them why you’re supporting them! We need to let businesses know that we’re paying attention to how they’re impacting the world.
- You can spread the word about Web3. Talk to your friends and family about why you think it’s important. The more people that are aware of Web3, the more likely we are to see change.
- As a small business, work with partners who are Web3 focused and help promote other Web3 businesses within your community.
The benefits of Web3 are many and varied. But for it to truly succeed, we need buy-in from small businesses.
That’s why I’m so excited about the potential of Web3 for small businesses. It provides a level playing field, where businesses of all sizes can compete on a fair basis and be a force for good. No longer will the big corporations have an advantage.
I believe that Web3 has the potential to change the way we do business for the better. And I can’t wait to see what the future holds.
What are your thoughts on Web3? Do you think it has the potential to revolutionize small businesses? Let us know.
Want to partner with a digital agency with your best interests at heart? Give us a shout, we can help craft authenticity into your brand, and guide your journey with ethical digital marketing.
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