You may have heard Telcos of Web3 . Little by little people are talking about it as something that will change everything , as happened with 5G, Big Data, artificial intelligence, the metaverse or the blockchain . Interestingly, Web3 has a bit of all of this. And like everything that has to do with the Internet, how important are the telcos in the arrival of Web3?
Telecos or telecommunications companies are what make possible what we know as the Internet. Both the physical and the virtual part. We may be more familiar with Google, Microsoft, Apple or Meta (formerly Facebook), since we consume their services and products on a daily basis. But the telcos also play their cards beyond their role as facilitators or providers of fiber optics, WiFi or 5G.
Web3 promises changes, for the better, in our way of relating to an important part of the Internet. Applying blockchain technology to the Web itself, beyond its current applications, especially cryptocurrencies such as Bitcoin or Ethereum. Precisely, Web3 emerges as an evolution linked to the Ethereum blockchain protocol , one of the most popular.
New Services On A New Website
Although it remains to be seen what Web3 will really be like, that is, what we bought off plan, the promises made by its promoters will be liked by practically everyone. On the one hand, to those who miss a more democratic, open and participatory Internet . And on the other hand, to those who search the Internet for an infinite space where they can trade and exchange products, services and benefits.
To please both parties, Web3 promises to return to the origins of what the Internet should be. And that in part already is. A decentralized network of networks . However, Web3 seeks to go beyond the current physical infrastructure. Infrastructure that Internet providers and telecoms in general are in charge of, both globally and regionally.
On the other hand, to access this Web3 we must have a digital wallet . Something controversial from the point of view of those who are committed to an open and disinterested Internet, beyond the commercial Internet with which we currently live. However, this concept of wallet promises to give privacy and security to Internet users, since instead of being a name or a profile with personal data, you will simply be an alphanumeric code whose personal information is encrypted.
And in practice, individuals, companies and public bodies will be able to enjoy services such as the metaverse, artificial intelligence, cryptocurrencies and other crypto products such as NFTs, the exchange of information without intermediaries, virtual reality and much more. This without leaving behind the services and products that we already enjoy on the Web 2.0 with which we deal daily and in more and more areas of our lives.
Telecos And The Foundations Of The New Web Providers
Telefónica already have blockchain services in order to be present on Web3 . Its Telefónica Tech division, for example, has long had its own blockchain platform called TrustOS . Its services have to do with traceability, tokenization and certification focused on companies. Specifically, they provide “solutions based on hybrid technologies to take advantage of both private networks (scalability, performance, privacy, support, etc.) and public ones (transparency, ease of creating open markets, interoperability, etc.)”.
It is clear that Web3 will work on the same physical infrastructure as the current Internet. Servers, cabling, Internet providers… A world-wide ecosystem that has been operating for several decades and that currently allows providing services to all kinds of devices through wired or wireless connections .
The changes will come more for the virtual part. Current protocols will coexist with new protocols that will facilitate interactions between Web3 users. Basically, through the blockchain . Encrypted and decentralized connections that require a virtual infrastructure that is already being created.
Providers such as Telefónica already have blockchain services in order to be present on Web3 . Its Telefónica Tech division, for example, has long had its own blockchain platform called TrustOS . Its services have to do with traceability, tokenization and certification focused on companies. Specifically, they provide “solutions based on hybrid technologies to take advantage of both private networks (scalability, performance, privacy, support, etc.) and public ones (transparency, ease of creating open markets, interoperability, etc.)”.
In March, Telefónica Tech announced its association with Polygon , “one of the most relevant public blockchain ecosystems, to use its network and tools to develop Web3 solutions”, as its press release indicates. In practice, this means that “by taking advantage of Polygon’s scaling solutions , Telefónica Tech’s clients will be able to facilitate higher volumes of transactions with predictable costs and settlement times.”.
In short, Web3 aims to give the user more decision-making power through technologies that, for the moment, seem very complicated to us. However, to be able to use them, we will have a new ecosystem of services, companies and brands . An ecosystem based on encryption of everything we do on the Web. An ecosystem in which, naturally, we will find the current Internet giants, new players, and the telecoms or telecommunications companies that have provided us with Internet access for years.