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The internet is constantly changing, which means various aspects of the web are changing as well. As online activity evolves, those who rely on the internet have to adapt accordingly. That's why vendors with an eCommerce site must be cognizant of Web 3.0 and what it could mean for the future of online transactions.
Web 2.0 turned the internet from a collection of static pages to an interactive environment and users went from content consumers to content creators. Web 3.0 is taking this concept a bit further by integrating the social aspect of the internet into every user's online activity. In the future, every page we click on will be specifically tailored to meet our specific social preferences.
So what does this mean for online vendors?
When customers buy online—whether they are an average consumer shopping at home or a business procurement specialist using a company purchasing card to buy for his or her organization—they will receive a shopping experience that is tailored to their needs. Big data is allowing companies to create content and design eCommerce pages that cater to the way each site visitor wants to shop. This is done to improve the likelihood the customer ultimately buys.
So what's the problem?
Customer information will help build catered shopping experiences in the Web 3.0 era. There are benefits to this strategy, but many customers can become wary of having that much data out in cyberspace.
This was addressed in a recent Silicon Angle article that asked what the future holds for eCommerce with Web 3.0. The article promotes the convenience offered by a customized shopping experience, but stresses the importance of user privacy.
"Where I'd like to see 3.0 go is an internet that can come to terms with the value that shared data brings, without harming their sense of privacy," the article's author wrote. "This is idealistic, as privacy is surely important, and the value and security must be proven before the pitchforks will be put down."
This puts pressure on vendors, particularly those processing B2B payments, to ensure customer security. Payment tokenization will keep information protected from targeted attacks while still offering customers the benefits of Web 3.0 eCommerce.
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