Monthly Archives: February 2013

A Web 2.0 Bank?

Web 2.0 tools and ideas have been instrumental in changing the internet over the past 10+ years. This is undeniable. But there are other areas of the internet outside of social media where Web 2.0 tools and ideas have simply never penetrated. Some people are recently asking, “Why is that?”.

One of those people is a man named Simon Redfern, the CEO of a Technology Solutions firm in Europe. He has recently proposed an idea to turn Web 2.0 tools and ideas loose on banks and banking. Yes, you read that right: banks.

In a new article on TheNextWeb, Paul Sawers reports that Redfern is looking to “bring some financial transparency to organizations’ activities, courtesy of open source Web 2.0 tools.” That means that Redfern wants to use an API designed to bring more transparency to banking transactions and accounts, especially those heavily involved in charity or public activities.

Imagine being able to see all of the transactions a charity organization makes with donated money with a few clicks of the mouse. Of course, privacy and varying levels of access will be implemented to keep information safe. The main point is to provide more transparency and ease of access to data when it comes to banking, something which has traditionally been very closed to the public.

Ten years ago, not many people could have thought that it would be possible, or even worthwhile to apply Web 2.0 tools and ideas to the banking industry, but this might turn out to be a very interesting innovation. After all, one of the main premises and guiding philosophies of the internet and its development is being open source and providing as much access to information as possible.

This idea certainly has some creative potential as its still in its early stages. There’s no telling what could develop from it though. It will be interesting to keep an eye on it.

Big Changes in What Tech People Are Using

When the Web 2.0 term was conceptualized in the late 1990s, technology was extremely different from what we have on the market today. Laptops weren’t even that common when the ideas for Web 2.0 started to work their way into the internet. In a matter of a little over 10 years, our technology has drastically changed.

The internet improved in speed, computers got cheaper, and laptops became more abundant. Then along came the smart phone which revolutionized the way people interact online. Of course, all of these changes helped boost social media to web dominance. Social media and user-generated content are a big part of the Web 2.0 movement, and they’ve certainly done their own part to make those years-old predictions true.

Recently, the internet is experiencing a new change. As Adrian Kinglsey-Hughes reports for ZDNet, “37 percent of consumers who used to access content on their PCs have switched to using their tablets and smartphones.” We’re now entering an even more mobile and more accessible internet age than ever before.

New sections of the population will find it easier to use phones and tablets to access the internet. No doubt these people will find their way to social media, helping the user-generated side of the net grow even more significantly.

As this trend continues, there will be plenty of opportunities for businesses and services to take advantage of the new technology that people are accessing content on the web with. Tablets and phones will only continue to get more advanced and more capable of experiencing the internet in the same manner as a powerful desktop PC can. In fact, most of them already can do that.

With all of these new technology changes, it’s no surprise that there is already information appearing online based on the idea of Web 3.0. No one is quite sure where the web will head next, but no one is certain just yet that the web has made the most out of the ideas which form the Web 2.0 movement. There might still be more to come.