The Internet’s Shift From Information to Ownership

For most of its history, the internet's core advancements have come through greater access and availability of information. Users could instantly retrieve searchable information that had once been scattered across books, institutions, and private archives. Over time, however, the internet has expanded beyond just information sharing, and today, users can not only access and publish information but also own certain types of digital assets, protect aspects of their personal data, and even earn value through their online participation.

One of the key areas the internet has facilitated and, in turn, been transformed by, is Blockchain technology. Bitcoin, networks such as Ethereum, and non-fungible tokens (NFTs) have been made possible due to the internet and have simultaneously influenced how online value is created and transferred, sometimes in quite unexpected ways.

From Web1 to Web2, and Web3

The evolution of the internet mirrors the wider pattern of technological progress seen in other industries, and its improvements are clear.

Web1: The Information Web.

The internet operated as a "read-only" system during the 1990s and the early 2000s. The internet provided users with digital information through static webpages, essentially operating as virtual libraries and restricting users to browsing content only because they were unable to create substantial contributions.

Web2: The Social Web.

The internet evolved into a "read-write" system, allowing users to create and edit content in the mid-2000s. Social networks, along with blogs and user-generated content, saw rapid expansion during this time. Users gained content-creation and social-interaction capabilities through commenting and collaborative tools, but they surrendered their independence to centralized organizations. Users saved their personal details on these platforms, but this data was often used for advertising revenue and to track user activity, sometimes rather surreptitiously.

Web3: The Ownership Web.

Web3 technologies enable users to access a "read-write-own" framework that allows them to own digital tokens, control certain aspects of their online presence, and engage with platform economics through decentralized networks that grant users ownership rights. Users today can exercise stronger control over their digital assets thanks to Blockchain technology. However, the exact degree depends on how those assets are structured and stored, which isn't always entirely intuitive.

Blockchain as the New Architect of Value

Blockchain technology is the foundation of this ownership-focused internet. Instead of relying on a single authority, a blockchain operates as a distributed digital ledger maintained by many participants. Its shared, tamper-resistant nature makes trusted record keeping possible without centralized control.

Bitcoin demonstrated the power of digital scarcity by introducing an asset that cannot be endlessly replicated. For the first time, people could possess a purely digital item recorded in a way that others could not alter at will. This breakthrough established the principles of secure digital property and contributed to the foundation for a new online economic model that still feels somewhat embryonic.

As blockchain platforms expanded, smart contracts and token systems emerged through Blockchains such as Ethereum, Solana, and others.

These features allow developers to create digital items that users can store in personal wallets independent of any single platform. For example, an in-game item saved on a blockchain as an NFT continues to exist even if a company shuts down its servers. However, the functionality or associated media may still depend on off-chain systems. The asset itself remains outside any one platform's direct control, replacing temporary access rights with a more durable and, one might say, more tenacious form of digital ownership.

Transforming Creativity and Identity with NFTs

NFTs introduce a new approach to owning digital content. These tokens verify ownership of specific digital items, such as artworks, music, collectibles, virtual real estate, and more, and can provide proof that a particular wallet holds a given token.

NFTs also enable creators to access additional opportunities. Artists, for example, can sell their work directly and may receive royalty payments when it resells, depending on the marketplace's enforcement. In addition, instead of creating separate accounts across multiple platforms, users can authenticate with identities linked to their own wallets, which offers a somewhat more coherent sense of digital continuity.

From memberships, certificates, and event tickets to credentials, these items can all exist as NFTs owned by the user rather than residing solely in corporate databases.

Why Ownership Matters

Web3 technology operates through complex networks, which have produced significant changes in how people behave. Users generate substantial value through their online activities, yet current platforms retain complete control over user data, moderation rules, and revenue generation.

Individuals rarely benefit directly from the value they help generate, but ownership changes this dynamic. By holding digital tokens, users gain access, decision-making power, and economic participation in the platforms they support. Some emerging communities reward contributions with tokens that can be traded or used to vote on key decisions through Decentralized Autonomous Organizations (DAOs), which function almost like experimental civic organisms.

Data ownership is of equal importance. Users need complete control over their personal data storage and distribution. Users in decentralized systems typically maintain full control over their data storage and access permissions, which allows them to keep their information private until they decide to share it, providing better privacy protection and control.

Conclusion

The internet's progression from information-based to ownership-based is still unfolding, but its direction is increasingly apparent. Blockchain and NFTs introduce digital scarcity, provenance, and value.

Creators retain ownership of their work, users control key aspects of their identities and data, and communities can build economic systems that reward participation.

About Chain

Chain is a blockchain infrastructure solution company that has been on a mission to enable a smarter and more connected economy since 2014. Chain offers builders in the Web3 industry services that help streamline the process of developing, and maintaining their blockchain infrastructures. Chain implements a SaaS model for its products that addresses the complexities of overall blockchain management. Chain offers a variety of products such as Ledger, Cloud, and NFTs as a service. Companies who choose to utilize Chain’s services will be able to free up resources for developers and cut costs so that clients can focus on their own products and customer experience. Learn more: https://chain.com.

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