How to Leverage Web5 Technology in Real Estate?

Can it enhance real estate like Web 3.0? Let’s find out!

The Web/internet started as a web of Content in early 1993, which later turned into the Web of Communication in 2000, and then into the Web of Content in 2008, and then into the Web of Things in 2012, and finally into the Web of Thoughts in 2020, and it keeps flourishing. It now inculcates collective intelligence, an artificial brain, a convergence of humans and technology, direct brain link, digital aura, brain wave control, 5 sense immersion, AV implant, and Active Contact Lense - falling into three main categories of (1) Business, (2) Communication, and (3) Entertainment.

Web 1.0 was known as the shopping carts and static web. Web 2.0 was known as the writing and participating web. Web 3.0 was known as the semantic web. Web 5.0 was known as the open, linked, and intelligent web. In more detail,

What are the benefits of Web 5.0?

Web 5.0 is the new stage of the Internet. It aims to decentralize the data and offer complete control over data. It came into being as Web 3.0 was not able to rectify its limitations. Now web 5.0 allows flexibility and resources for developing decentralized web applications, facilitating enormous real estate app ideas.

Web 5.0 is an amalgamation of Web 2.0 and Web 3.0. It is being developed by Dorsey’s Bitcoin business unit, The Block Head (TBH). It is also known as The Telepathic Web or the Symbionet Web. It is called telepathic because the chips in a user’s brain could instruct devices on what action to take after reading emotional cues in terms of electric signals in the user’s brain. Web 5.0 aims to build an extra decentralized web that puts users in control of their data and identity. Web 5.0 is Web 3.0 plus Web 2.0 that will allow users to ‘own their identity’ on the internet and ‘control their data’. To access the decentralized Web 5.0, users will have a digital wallet that stores their identity, data, and authorizations.

When the user logs on to a decentralized social media app, she or he will not have to build a profile, because the digital wallet already has her verified identity. Both Web 3.0 and Web 5.0 envision an Internet without the threat of censorship - from governments or big tech, and without fear of significant outages.

Web 5.0 is the next step in the evolution of the Internet, which aims to provide a decentralized platform to users while also incorporating human emotions through the use of artificial intelligence.

The limitations of previous versions of the internet include a lack of control over data and a lack of emotional intelligence. It promotes complete decentralization and transparency while ensuring complete control of user data remains with the user.

We 5.0 enables computers to respond to emotional prompts based on a person’s electric signals in their brain, which is not possible with Web 3.0.

How does Web 5.0 work, especially in Real Estate?

The use of Web 5.0 in real estate acquisition can bring in some emotional intelligence on the Internet along with real-time connections. You think about a feature and Web 5.0 can bring it to fruition. It can be understood by the example of internet assistants that are present on mobile devices. They take the information from the users and then search the internet according to the user preferences to give the most optimal output.

This implies that the internet can interpret data itself with the use of logic and gives much more efficient output. Web 5.0 works with the help of Blockchain, Artificial Intelligence, Deep Learning, and a lot many technologies. In Web 5.0, the users have to hold a digital wallet that securely manages their identity, data, and authorizations for external connections and apps.

A user can use their wallet to log into a decentralized app. They may not have to create fresh profiles and sign into new applications, as Web 5.0 gives decentralized identity allowing users to seamlessly switch from one application to the next. The app data will not be stored with third-party products and services but will be controlled by users and will only be exposed with their permission.

Web 5.0 is still in its nascent stages and we do not know how it will turn out. It is being controlled by a number of venture capitalists and limited partners, so it is not completely decentralized. With numerous, thousands of passwords, it is pretty difficult to save login credentials.

Is web 5.0 technology in Real Estate sustainable?

Web 5.0 is the emotional web which means that users can wear their headphones or VR headsets. The computer with the internet will catch their emotions, or recognize their facial expressions to give relevant results.

Web 3.0 was in the news last year for being useful in fulfilling real estate transactions. Users can buy and sell properties virtually by making use of virtual reality, augmented reality, and metaverse. Visualizing a fully constructed property virtually is easy, but you can also enable modifications according to your liking virtually. A big window, a flower vase, a kitchen sink, a terrace with the plantation, a parking area, a washing area, a study room with a computer, anything can be visualized and a purchase deal can be finalized without actual human intervention, by exchanging bitcoins in metaverse environment.

Top mobile app development companies in India have a reason to adopt Web 5.0 as it can make the transfer of real estate assets seamless for all buyers, sellers, and agents. It offers a click-and-close experience for the users, unlike the traditional home-buying process, which involves a never-ending documentation process and legal hassles.