As you’ve probably noticed, interest in Web 3.0 is soaring. Meaning it’s probably time for enterprises to learn more about it and the potential opportunities if they haven’t done so already.
At Torsion, we’re interested in how it could help democratise the data that business users own within the enterprise – something that lies at the core of the Torsion data access security platform.
And to quickly set the scene, Web 1.0 was the www version invented in 1989 by Tim Berners-Lee and Web 2.0 was the version announced around the millennium, in essence an upgraded, more interactive www.
What is Web 3.0?
Web 3.0 refers to the next generation of the World Wide Web. It is still being developed so it’s a bit of a moving target, but the consistent headlines are how it will decentralize applications and make more use of blockchain, AI, semantic web, metaverse and NFTs.
This article by Tech Target goes into the topic of Web 3.0 in a great amount of depth.
How will it help democratise data access?
At the moment, most business applications rely on a centralized database but in Web 3.0, the applications will run on decentralized data storage. It is thought that this will give users more control over the web and their data (both personal and business) as it will be more intelligent at controlling and securing the huge amount of data now on the web.
In fact, Gartner predicts that 25% of businesses will have decentralized apps as early as 2024 (but may place them inside centralized applications to begin with).
Another difference is that AI and machine learning (the technology behind Torsion) will have a much more prominent role in Web 3.0. The automation and intelligence that Torsion already provides will be even more integral to data access security and governance.
Just like Self-sovereign Identity (SSI), business users will be in more control of what information to give, with whom, and for what reason.
Conclusion
We’re watching the Web 3.0 space closely and will bring you more updates on how we see it impacting more specific elements of data access governance and security. The emphasis of placing control back in the hands of the data owner is what’s standing out for us right now though and this is the entire premise that Torsion is built on (Torsion moves the responsibility for file sharing and permissions away from the IT team and gives it back to the business users).
To see Torsion in action watch our 2 minute demo.