Web 5 — a New Platform Built on Tokenization
In our previous article, we explained that the Web 3.0 concept comes in two different flavors: Web3 and Web 3.0. While Web 2.0 is a broadband internet of social networking and blogging that is readable by humans, the Semantic Web, often known as Web 3.0, is intended to enhance how machine systems process information from the Web.
Based on the idea of decentralization using blockchain, cryptocurrencies like bitcoin and ether, coins, and tokens, Web3 addresses a number of issues at once, including data security, Internet legislation, the incorporation of cryptocurrencies into all Internet services, and the use of smart contracts to do away with a middleman and a centralized authority.
However, in this article, we are going to move forward and speak about web 5, tokenization, and much more.
So what is Web 5?
In order to enable developers to build decentralized web apps with verified credentials and decentralized web nodes, Web 5.0 is intended to be a decentralized web platform.
The current consensus is that Web 5.0 will combine elements of Web 2.0 and Web 3.0 and will put an emphasis on building an interconnected web that is both intelligent and emotive. This entails having direct communication with its users, just as individuals have direct communication with one another.
When Web 5.0 is complete, it should be completely functional and extremely potent. This initiative aims to develop emotional relationships between humans and computers. The concept also aims to provide consumers complete control over their identity and data at the same time.
The current situation is that user data is owned by third parties and that the internet is impersonal when it comes to emotions because it cannot tell how a user is feeling. Web 5.0, on the other hand, ought to be revolutionary in this sense.
How it’s Work?
Consider how virtual assistants can forecast users’ requirements by observing their behavior to have a clearer idea of what Web 5.0 is. Virtual assistants can accurately identify what users need even when there are few hints.
Web 5.0 is essentially a more comprehensive version of a predictive virtual assistant. This upgraded version of the internet will be able to read various bits of data on far more intricate levels, resulting in interpretations that combine emotion and logic.
As such, Web 5.0 should function in a way that is symbiotic with a person’s daily life that is, it should be organically linked to everything a person does. Artificial intelligence (AI) enables machines to converse in human-like ways. This technology allows computers to reason, think, and finally respond to user input, implying that Web 5.0 is far closer than many people believe.
Key Features of Web 5.0
While Web 5.0 should have many capabilities that will benefit users once it is fully actualized, there are two fundamental characteristics that this platform is now focusing on: the ability to control your identity and the ability to own all of your data.
With today’s web, companies and other third parties effectively own your identity and data. Being in control of your own identity is one of the key features for Web 5.0, while widespread tokenization is another one.
Tokenization is the process of substituting sensitive data with unique identification symbols that maintain all of the material’s vital information while ensuring its security. Tokenization, which seeks to reduce the amount of data a company must keep on hand, has become a popular way for small and medium-sized businesses to improve the security of credit card and e-commerce transactions while reducing the cost and complexity of complying with industry standards and government regulations.
In theory, tokenization technology can be utilized with any type of sensitive data, including financial transactions, medical records, criminal histories, car driver information, loan applications, stock trading, and voter registration.
Tokenization can help almost any system that a surrogate may use as a stand-in for sensitive information, and is frequently used to safeguard credit card information, bank account information, and other sensitive information held by a payment processor.
Thus, since 2018, companies have raised nearly 24 billion dollars through token-based fundraising with ICO’s and STO’s, giving enterprises access to capital like never before in a way that is more liquid, transparent, and secure, thanks to the Tokenization revolution.
TOZEX — Tokenization as Service
Tozex is a crowdfunding platform that combines a token issuance module called “Tokenpad” that allows you to establish a token based crowdfunding campaign (ICO, STO, or BRO), and an asset tokenization platform that functions essentially as a conduit for transforming physical assets into digital tokens.
Its revolutionary crowdfunding and tokenization platform allows businesses to fund their growth by borrowing crypto assets from donors all over the world. With its Decentralized issuance mechanism, it is simple to use, transparent, and complies to the greatest security requirements.
Almost any type of real-world asset may be tokenized using Tozex’s asset tokenization platform. Token pad firms can immediately issue tokens, choose a fundraising mechanism, and be listed on crypto exchanges. Start building your own tokenized future right now at Tozex.