AN OVERVIEW OF THE EXPECTED INFLUENCE OF WEB 3.0 ON e-COMMERCE AND ALLIED DOMAINS

Abstract

The Web has come a long way since the creation of the first web by Tim Berners -Lee in 1990 and Web 3.0 which is the next big thing in e-commerce, offering a more user-friendly shopping experience. Web 3.0 makes it easier for consumers to find what they're looking for and complete transactions quickly and easily. For decades, the global economy has thrived on the internet, and for the better part of that time, it has been subjected to web2.0 which is a centralized system. Presently the world is in the transition to web 3.0 which is a more decentralized system. Web 3.0 combines some of the best static and dynamic elements from Web 2.0 and Web 1.0, with an abundance of new features to deliver a user experience that's more intuitive, enjoyable, and engaging for consumers as well as more efficient and cost-effective for retailers. One of the special features of Web 3.0 is that clients themselves can customize business-related web content anytime anywhere with a highly developed web 3.0 data blockchain. Web 3.0, though it is in the development stage, promises far-reaching impacts on the way e-commerce works in the future. This review provides a brief idea of how the journey of the web has so far transitioned from web 1.0 through Web 2.0 and now onto Web 3.0, and several layers of technical innovations which are housed in the web 3.0 platform are also discussed