“We are still early” is one of the mantras of the web3 movement. What is web3? Sometimes called Web 3 or Web 3.0, it is the term to describe the third generation of the internet. Web 1 was the static era of the 1990s and 2000s, defined by email and rigid websites. Web 2, which some believe is coming to an end now in the 2020s, was defined by mobile internet, social media, data, and Big Tech.
The web3 movement calls for a complete disruption of the previous models, aiming to create a decentralized, peer-to-peer internet that is more equitable and profitable for users. Proponents claim they will achieve this through the use of blockchains, cryptocurrency, smart contracts, and dApps (decentralized applications). And they believe the next wave of entrepreneurs and businesses – capable of supplanting Amazon, Apple, Google, et al. – will emerge through the harnessing of this new technology.
So, when web3 enthusiasts say “we are still early”, it is in reference to the fact they believe they are only at the beginning of this journey. In fact, many proponents contrast the adoption of web3 in a timeline with internet adoption, and they put it as somewhere in the mid-to-late 1990s at the moment – a long way off from the world of ubiquitous iPhones, 5G, and Netflix we have today.
Entrepreneurship is about anticipation
However, there is a firm belief that those who are “early” have the opportunity to get ahead of the curve if – and probably, when – web3 eventually supplants Web 2. If you consider what entrepreneurship truly means, you can understand the allure of the sentiment. From Bezos to Jobs to Gates to Musk, their success was defined by anticipating what their industries could be in the future, not where they were at the time.
What, then, does a web3 entrepreneur look like? What do they offer? And can anyone get into this new technology and start building for the future? The answers to those questions are not so simple due to a range of factors, not least because some of the technologies are disparate or – for want of a better term – controversial.
First, we need to go back again and elaborate on what we mean about web3. We used the term “decentralization”, which means there is no central point of control. Google/Alphabet is a centralized business, with C-suite executives, employees, shareholders, etc. But some of its core products – Google Search, Chrome browser – would arguably do just as well if they were decentralized. After all, these products are essentially just lines of code and algorithms.
Already, we are seeing web3 alternatives to Chrome and Search, including the web3 browser Brave. What’s the difference? Well, Google makes money by targeting you with adverts, whereas Brave pays you (in its native BAT cryptocurrency) when you see advertisements using its browser. There are also benefits when it comes to data sharing and privacy. Brave has flaws, sure, and we’d remind you that we are still in the Wild West phase of web3 adoption, but it’s the perfect example of a web3 upstart that could update the status quo.
Indeed, what web3 is perfect for is the supplanting of companies that are effectively networks. Take, for example, Uber. The biggest taxi firm in the world, which famously owns no cars. Or Airbnb, the world’s biggest property rentals site that famously owns no properties. These are companies, and successful ones at that, but they are also, at heart, networks. What if the next Uber was built on a decentralized network, one that was potentially able to offer better conditions for drivers and passengers alike? That’s exactly what web3 entrepreneurs are working on now. Using blockchains, smart contracts, and dApps, the next Uber could be more efficient, safer and cheaper for passengers, and more profitable for drivers and investors. It might sound fanciful, but it is possible.
A decentralized product can still be profitable
Of course, the elephant in the room here is the meeting of profits with the concept of decentralization. The pursuit of the former is always going to be one of the main drivers of entrepreneurship, but profits and decentralization are not mutually exclusive – far from it. Moreover, your new business can use some of the architecture of web3 without being fully decentralized.
As to the last point, harnessing web3 without being fully decentralized, many established and centralized companies are already exploring that option. Consider Starbucks, which has recently decided to rebrand its Rewards program (one of the most successful in corporate history) into Starbucks Odyssey, a web3 platform that uses blockchain and NFTs (Non-Fungible Tokens), and perhaps later, cryptocurrency. If Starbucks sees its future rewards program being built on blockchain, shouldn’t up-and-coming retail chains?
Again, we go back to anticipation. Today, subjects like cryptocurrency and NFTs are not without controversy, and thus, it might seem like a risk for Starbucks and many others, including Meta (NFTs on Facebook and Instagram) and Nike (the .Swoosh web3 platform) to embrace them. But that controversy is down to their reputation of being speculative assets. Starbucks is not thinking about the price of tokens; it’s thinking about utility. Understanding the difference should be a key driver of web3 entrepreneurship.
We can also point to some clear, tangible benefits for entrepreneurs considering the pivot to web3. Today, the Apple App Store remains the prime destination for many products. But to access that platform, you’ll need to give Apple its infamous 30% cut, which often includes in-app purchases. Businesses, big and small, loathe this payment, with many believing Apple is abusing its position as one of the web’s main gatekeepers. In a future decentralized app (dApp) store, no such fees will exist. There might be a small fee (probably in cryptocurrency) that goes toward maintaining the network, but the payments to a for-profit centralized entity behind the dApp store will be a thing of the past.
Big names have flooded into web3 in 2022
Earlier, we spoke of web3 supplanting Web 2, thus giving opportunities to entrepreneurs to anticipate future markets in the same way that Jeff Bezos, Steve Jobs, and many others did in the 1990s and 2000s. But a supplantation does not necessarily mean the demise of traditional companies. We have already mentioned the likes of Meta, Starbucks, and Nike investing in web3, but we can add to that Adobe, Disney, NFL, NBA, Stripe, DraftKings, Twitter, and many, many more. And the biggest investor in blockchain technologies? Google’s parent company, Alphabet Inc.
For entrepreneurs, the point is that web3 seems to be inevitable. It might not necessarily mean changing every aspect of your company, but it could mean making some changes to ride the wave of what’s company. The companies that flourished in the Web 1 and Web 2 eras were those that anticipated the need for websites, having social media accounts, apps, mobile-friendly websites, and so on. The same kind of foresight is required for the entrepreneurs of today. It might be a bumpy ride, but so too was the building of the modern web (lest we forget the Dot-Com bubble). The rewards are there for those who anticipate.
The federal government is ordering the dissolution of TikTok’s Canadian business after a national security review of the Chinese company behind the social media platform, but stopped short of ordering people to stay off the app.
Industry Minister François-Philippe Champagne announced the government’s “wind up” demand Wednesday, saying it is meant to address “risks” related to ByteDance Ltd.’s establishment of TikTok Technology Canada Inc.
“The decision was based on the information and evidence collected over the course of the review and on the advice of Canada’s security and intelligence community and other government partners,” he said in a statement.
The announcement added that the government is not blocking Canadians’ access to the TikTok application or their ability to create content.
However, it urged people to “adopt good cybersecurity practices and assess the possible risks of using social media platforms and applications, including how their information is likely to be protected, managed, used and shared by foreign actors, as well as to be aware of which country’s laws apply.”
Champagne’s office did not immediately respond to a request for comment seeking details about what evidence led to the government’s dissolution demand, how long ByteDance has to comply and why the app is not being banned.
A TikTok spokesperson said in a statement that the shutdown of its Canadian offices will mean the loss of hundreds of well-paying local jobs.
“We will challenge this order in court,” the spokesperson said.
“The TikTok platform will remain available for creators to find an audience, explore new interests and for businesses to thrive.”
The federal Liberals ordered a national security review of TikTok in September 2023, but it was not public knowledge until The Canadian Press reported in March that it was investigating the company.
At the time, it said the review was based on the expansion of a business, which it said constituted the establishment of a new Canadian entity. It declined to provide any further details about what expansion it was reviewing.
A government database showed a notification of new business from TikTok in June 2023. It said Network Sense Ventures Ltd. in Toronto and Vancouver would engage in “marketing, advertising, and content/creator development activities in relation to the use of the TikTok app in Canada.”
Even before the review, ByteDance and TikTok were lightning rod for privacy and safety concerns because Chinese national security laws compel organizations in the country to assist with intelligence gathering.
Such concerns led the U.S. House of Representatives to pass a bill in March designed to ban TikTok unless its China-based owner sells its stake in the business.
Champagne’s office has maintained Canada’s review was not related to the U.S. bill, which has yet to pass.
Canada’s review was carried out through the Investment Canada Act, which allows the government to investigate any foreign investment with potential to might harm national security.
While cabinet can make investors sell parts of the business or shares, Champagne has said the act doesn’t allow him to disclose details of the review.
Wednesday’s dissolution order was made in accordance with the act.
The federal government banned TikTok from its mobile devices in February 2023 following the launch of an investigation into the company by federal and provincial privacy commissioners.
— With files from Anja Karadeglija in Ottawa
This report by The Canadian Press was first published Nov. 6, 2024.
LONDON (AP) — Most people have accumulated a pile of data — selfies, emails, videos and more — on their social media and digital accounts over their lifetimes. What happens to it when we die?
It’s wise to draft a will spelling out who inherits your physical assets after you’re gone, but don’t forget to take care of your digital estate too. Friends and family might treasure files and posts you’ve left behind, but they could get lost in digital purgatory after you pass away unless you take some simple steps.
Here’s how you can prepare your digital life for your survivors:
Apple
The iPhone maker lets you nominate a “ legacy contact ” who can access your Apple account’s data after you die. The company says it’s a secure way to give trusted people access to photos, files and messages. To set it up you’ll need an Apple device with a fairly recent operating system — iPhones and iPads need iOS or iPadOS 15.2 and MacBooks needs macOS Monterey 12.1.
For iPhones, go to settings, tap Sign-in & Security and then Legacy Contact. You can name one or more people, and they don’t need an Apple ID or device.
You’ll have to share an access key with your contact. It can be a digital version sent electronically, or you can print a copy or save it as a screenshot or PDF.
Take note that there are some types of files you won’t be able to pass on — including digital rights-protected music, movies and passwords stored in Apple’s password manager. Legacy contacts can only access a deceased user’s account for three years before Apple deletes the account.
Google
Google takes a different approach with its Inactive Account Manager, which allows you to share your data with someone if it notices that you’ve stopped using your account.
When setting it up, you need to decide how long Google should wait — from three to 18 months — before considering your account inactive. Once that time is up, Google can notify up to 10 people.
You can write a message informing them you’ve stopped using the account, and, optionally, include a link to download your data. You can choose what types of data they can access — including emails, photos, calendar entries and YouTube videos.
There’s also an option to automatically delete your account after three months of inactivity, so your contacts will have to download any data before that deadline.
Facebook and Instagram
Some social media platforms can preserve accounts for people who have died so that friends and family can honor their memories.
When users of Facebook or Instagram die, parent company Meta says it can memorialize the account if it gets a “valid request” from a friend or family member. Requests can be submitted through an online form.
The social media company strongly recommends Facebook users add a legacy contact to look after their memorial accounts. Legacy contacts can do things like respond to new friend requests and update pinned posts, but they can’t read private messages or remove or alter previous posts. You can only choose one person, who also has to have a Facebook account.
You can also ask Facebook or Instagram to delete a deceased user’s account if you’re a close family member or an executor. You’ll need to send in documents like a death certificate.
TikTok
The video-sharing platform says that if a user has died, people can submit a request to memorialize the account through the settings menu. Go to the Report a Problem section, then Account and profile, then Manage account, where you can report a deceased user.
Once an account has been memorialized, it will be labeled “Remembering.” No one will be able to log into the account, which prevents anyone from editing the profile or using the account to post new content or send messages.
X
It’s not possible to nominate a legacy contact on Elon Musk’s social media site. But family members or an authorized person can submit a request to deactivate a deceased user’s account.
Passwords
Besides the major online services, you’ll probably have dozens if not hundreds of other digital accounts that your survivors might need to access. You could just write all your login credentials down in a notebook and put it somewhere safe. But making a physical copy presents its own vulnerabilities. What if you lose track of it? What if someone finds it?
Instead, consider a password manager that has an emergency access feature. Password managers are digital vaults that you can use to store all your credentials. Some, like Keeper,Bitwarden and NordPass, allow users to nominate one or more trusted contacts who can access their keys in case of an emergency such as a death.
But there are a few catches: Those contacts also need to use the same password manager and you might have to pay for the service.
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Is there a tech challenge you need help figuring out? Write to us at onetechtip@ap.org with your questions.
LONDON (AP) — Britain’s competition watchdog said Thursday it’s opening a formal investigation into Google’s partnership with artificial intelligence startup Anthropic.
The Competition and Markets Authority said it has “sufficient information” to launch an initial probe after it sought input earlier this year on whether the deal would stifle competition.
The CMA has until Dec. 19 to decide whether to approve the deal or escalate its investigation.
“Google is committed to building the most open and innovative AI ecosystem in the world,” the company said. “Anthropic is free to use multiple cloud providers and does, and we don’t demand exclusive tech rights.”
San Francisco-based Anthropic was founded in 2021 by siblings Dario and Daniela Amodei, who previously worked at ChatGPT maker OpenAI. The company has focused on increasing the safety and reliability of AI models. Google reportedly agreed last year to make a multibillion-dollar investment in Anthropic, which has a popular chatbot named Claude.
Anthropic said it’s cooperating with the regulator and will provide “the complete picture about Google’s investment and our commercial collaboration.”
“We are an independent company and none of our strategic partnerships or investor relationships diminish the independence of our corporate governance or our freedom to partner with others,” it said in a statement.
The U.K. regulator has been scrutinizing a raft of AI deals as investment money floods into the industry to capitalize on the artificial intelligence boom. Last month it cleared Anthropic’s $4 billion deal with Amazon and it has also signed off on Microsoft’s deals with two other AI startups, Inflection and Mistral.
