Following Finance Minister Miftah Ismail’s admittance of being unaware of the third generation internet, or Web 3.0, Pakistan Tehreek e Insaf (PTI) leader Zulfikar Bukhari offered him “free consultation and training” on Web 3.0.
“We’ll give you free consultancy services & coaching on Web 3.0 Miftah, but please don’t embarrass Pakistan like that next time,” Zulfi Bukhari said in a tweet quoting a video of the Atlantic Council.
In the viral video, Miftah is asked about the rise of Web 3.0, which the questioner believes will be a $100 billion dollar export opportunity for Pakistani talent in the next 20 years.
He also inquired what he felt about providing new economic prospects for Pakistanis, citing the potential of digital currency.
“Let me simply declare that I genuinely don’t know what Web 3.0 is,” Miftah said bluntly and “shamelessly..I don’t know much about this, but I do know that Pakistani fintech and new technology businesses garnered a lot of money last year and from a very low starting point”.
He added that we want them to thrive as much as possible, I’m not sure how much we can do to assist them.
What is Web 3.0?
Web 3.0 is a new kind of internet that not only accurately translates what you type, but also understands what you say, whether through text, voice, or other media, and where all of the content you consume is more personalised than ever before.
There are a few early-stage Web 3.0 applications that exist today, but their true potential cannot be seen until the new internet is fully integrated into the web infrastructure.
Web 3.0 refers to the next generation of the internet, in which websites and apps will be able to handle data in a clever human-like manner using technologies such as machine learning (ML), Big Data, and decentralised ledger technology (DLT), among others.
Tim Berners-Lee, the inventor of the World Wide Web, dubbed Web 3.0 the Semantic Web, with the goal of creating a more autonomous, intelligent, and open internet.
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Data will be interconnected in a decentralised form, which would be a big leap ahead from our present generation of the internet (Web 2.0), where data is largely housed in centralised repositories.
Users and machines will be able to engage with data as well. However, programmes must be able to comprehend information both conceptually and culturally in order for this to happen. With this in mind, the semantic web and artificial intelligence are the two cornerstones of Web 3.0. (AI).
