Introduction
Everyone seems to be talking about the so-called Web3. But, as was the case with the Multiverse, the entire concept of what #Web3 is is widely misunderstood.
And in this situation, understanding what Web3 is and how it will radically disrupt the laws of the internet as we know it is critical. Particularly for #ecommerce.
To be honest, one of the key foundations of #Web3 is to create a considerably more secure, faster, and more efficient ecosystem to ensure worldwide #ecommerce without the present security or currency conversion issues.
How will Web3 affect eCommerce?
To cut a long story short, at all levels. However, it will have an impact on eCommerce in the following ways:
SEO Ranking and online marketing
Payments and Security
Accessibility and Logistics
Let us try to explain the possible changes that Web3 will bring to each one of these categories.
Will Web3 be the end of SEO?
Does this imply that Web3 will discontinue the use of search engines? No, search engines are required to make the entire web-accessible. However, Web3 will completely revolutionize the way search engines operate. Obviously, this will render present SEO strategies completely worthless, as the ranking criteria would change.
The best way to describe this is that all of Google's decisions to rank a page are currently dependent on Google's own algorithm. Web3 argues that this will be handled by a "collective" decision-making process rather than a single "source" or database.
What will happen to my online marketing?
The new search engine results will be more diverse than those provided by existing search engines such as Google. The amount of traffic will decrease in the future, and banners on traffic sites will most certainly increase in price.
Unfortunately, no one will be able to address these questions until we have practical experience with the new search systems. The only thing we can say is that it will almost certainly change the way online marketing is currently done.
Is Web3 more secure?
Multiple ledgers, held by several separate and unrelated databases at the same time, keep Web3 on track. This makes it virtually impossible to hack or modify.
A buyer within Web3 who uses Web3 payment methods will have their money accounted for without mistakes possible and in real-time.
Ethereum and other tokens will be the economy of Web3
Web3's economy will be based on Ethereum and other tokens.
The Web3 will have a base architecture that is native to the crypto world - in fact, it is based on Ethereum, a cryptocurrency - and all payments made within the Web3 environment will generate tokens that can later be used to buy physical items such as food, clothing, and anything else that e-commerce can sell and deliver.
Conclusion
Finally, it is certain that the implementation of Web3 - which is expected to begin in 2022 - will be the first step toward a sustainable permanent online environment, the Metaverse's last stage. And, thus far, several businesses have pledged to promote and deploy Web3.
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