What is Web3 and what does it mean for logistics

If you have been following any of the technology news lately, then there is no surprise you have heard about Web3, but do you actually know what it means? What is the difference between Web1 and Web2? 

If you do, then congratulations you are on top of the news, if you don’t then let me explain it to you. It’s easy. 

Web1 basically gave us access to information by connecting our computers to the world wide web. Now Web2, gave us social media and e-commerce platforms. It revolutionized human interaction. 

Now comes Web3, the backend revolution that is now changing how we will exchange agreements and assets, and how we will manage credentials, attributes, and access rights.

So now that we have some background, what does it mean for logistics?

While it might not look like a lot, Web3 will be able to enable a higher level of trust when executing online transactions since the interactions are immutable over the blockchain. What this means is a huge reduction in fraud, returns, and most importantly theft. Furthermore, Web3 intends to reinvent how the Internet is wired in the backend, combining the logic of the Internet with the logic of the computer.

Right now, we are already seeing a rapid increase in supply chain and logistics startups built on decentralized ledgers, the backbone of cryptocurrencies. Some of these solutions are to help manage and track the shipment of everything from large containers on ships to computers in e-commerce around the world. 

Now this change from Web2 to Web3 won’t happen overnight just like it did not from Web1 to Web2. Even though some aspects of Web3 can already be seen such as the wider acceptance of crypto as a payment method or increased funding into blockchain and metaverse-based startups, the wider application of Web3 is still far off.

What do you think? How fast will we transition to Web3?