Digital resilience: Web3, the future of the Internet

Web3 is presented as a Web of trust, based on key principles (decentralization, community sovereignty, new ownership models, etc.).

In our "Digital Resilience" thematic dossierwe offer you 6 articles to define the framework of our Digital Resilience as well as its stakes and components. 2nd article on the challenges of Web3 development.

digital resilience

What does Web3 really change?

In France, according to a study carried out in 2021 by Markess by Exaegis, the giants Microsoft, Amazon and Google hold 71% of the market share in the Cloud sector. So, what about European digital sovereignty? The digital landscape is changing: the centralized Internet, developed over several decades, is gradually coming to an end in favor ofa more decentralized, autonomous universe, where sovereignty issues are at the heart of concerns. The Digital Services Act (DMA) adopted in September 2022 testifies to Europe's determination to put an end to the domination of the net giants. At the same time, the development of Web3 is turning a corner. It offers the opportunity to emancipate ourselves from these major market-leading digital platforms and regain control over the real value of the information offered by users.

Web3 is based on a number of key principles:

  • decentralization (Blockchain),
  • community sovereignty (DAO - Decentralized Autonomous Organization)
  • new ownership and value models (NFTs, crytomoney, etc.). 

The metaverse

The metaverse is one of the responses to Web3 and its decentralized operation. Spearheaded by Meta (formerly Facebook), its ambition seems to be to push back the boundaries of the physical world, allowing the real and the virtual to merge.

Unsurprisingly, the major Tech groups have appropriated the subject and are investing massively in the metaverse and the Internet: so finally, could the future of the Internet look more like a Web 2.5, more transparent and more intelligent, but still in the hands of the same groups?

Read more in our previous article on the metaverse >>.

Digital sovereignty for France and Europe in Web3

Europe and France can take action to anticipate the challenges of sovereignty and ensure that the digital environment functions properly.

Europe's leading digital companies

First of all, Europe has a number of engines (Scaleway, OVH, Outscale...) that could compete with American companies. It is therefore necessary to analyze today's technical stack to detect extra-European dependencies and adopt a more local strategy.

France needs to support start-ups in developing Web3 topics

Today, France has local champions(Sandbox, Ledger, Sorare Coinhouse, etc.), but there are still few French investors in the financing rounds of blockchain projects (only 2 French funds specializing in Web3), due to a lack of knowledge and a regulatory vacuum not conducive to innovation. The market is teeming with initiatives, but they are often based on basic concepts, with no roadmap and no real vision other than selling NFTs.

Regulatory measures to facilitate investment in Web3

Regulatory measures need to be put in place to facilitate investment (e.g. changing the public procurement code) , to build tomorrow's Web3 "Made in France", and to reinforce the cybersecurity of these new systems.

Economic and legal efforts alone will not suffice. Society as a whole must evolve. Access to key skills is a major determinant of the growth of Europe's technology ecosystem. It is therefore essential that European universities and faculties include Blockchain modules in their curricula.

All articles in the "Digital resilience" section

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