Web 4.0 as an innovation opportunity
What is Web 4.0?
A key innovation of Web 4.O is the introduction of digital twins on cloud level —virtual counterparts of individuals, products, services, or organizations. Each digital twin can be assigned a unique digital identity and wallet, allowing software to automatically manage data- and token exchanges between them.
Software deployment in Web 4.0 is governed by digital contracts that require valid signatures before any code is executed. This approach ensures transparency and accountability, giving stakeholders confidence in how their data and applications are handled.
Why is it an opportunity?
Web 4.0 provides an infrastructure for giving people, organizations, products, and services their own digital twins, complete with digital wallets and identities. For individuals, having a digital twin allows for the conscious, controlled sharing of personal data. Assigning digital twins to products, services, and organizations introduces an innovation space for new models of value creation.
The deployment by contracts of software in Web 4.0 adds a layer of transparency and accountability, ensuring that any software or service handling data is deployed only after meeting pre-defined conditions. By defining the procedures to agree on conditions for deployment software with contracts, we can hold people and organizations accountable for introducing software that processes data and tokens.
Individuals and people from different organizations can be part of the circle of people who need to sign off the digital contract before the software deployment starts. In that way, we can redefine the digital processes within and between organizing parties of a value creation chain.