Development of Web3 Awareness Scale as the Next Evolution of the Internet

Year 2024, Volume: 11 Issue: 1, 247 - 265, 01.01.2024

Mevlüt Uysal , Mutlu Tahsin Üstündağ , Ahmet Çelik , Mustafa Tanrıverdi , Onur Ceran , Zafer Ayaz

https://doi.org/10.17275/per.24.15.11.1

Cited By: 1

Abstract

Web3, characterized by its decentralization, user autonomy, and integration of blockchain technologies, introduces a novel ecosystem that is rife with both opportunities and complexities. While these advances are rewriting the conventional norms of digital interaction and data management, they are also ushering in a new set of challenges and learning curves. We introduce the "Web3 Awareness Scale" as a main element through the current study. This carefully designed scale assesses university students' understanding and readiness for the emerging landscape of Web3. Whilst the article provides detailed insights into the technical, real-world applications and challenges of Web3, the inclusion of the scale emphasizes the practical assessment of awareness and readiness among key digital natives - students. As a result of the EFA, 6 items were removed from the scale, and the total explained variance of the two-factor structure consisted of 31. The final version of the scale showed a total explained variation of 64.16%. Specifically, the first factor, Opportunities, accounted for 46.94% of the variance, while the second factor, Risks, accounted for 17.21% of the variance. It is found that the coefficients of all factors indicate a very highly reliable measurement. The interpretation is that both the total scale and each factor have a high level of reliability. The findings from the scale are critical and have the potential to provide invaluable insights. These insights are expected to shape future educational curricula and policy-making, ensuring that the next generation is well-equipped to navigate and exploit the opportunities of Web3.

Keywords

Web3, blockchain, decentralization, awareness scale

References

• Alabdulwahhab, F. A. (2018). Web 3.0: The Decentralized Web Blockchain networks and Protocol Innovation. 1st International Conference on Computer Applications and Information Security, ICCAIS 2018. https://doi.org/10.1109/CAIS.2018.8441990
• Alkhudary, R., Belvaux, B., & Guibert, N. (2023). Understanding non-fungible tokens (NFTs): insights on consumption practices and a research agenda. Marketing Letters, 34(2), 321–336. https://doi.org/10.1007/S11002-022-09655-2/TABLES/2
• Bambacht, J., & Pouwelse JWBambacht, J. (2022). Web3: A Decentralized Societal Infrastructure for Identity, Trust, Money, and Data. https://doi.org/10.48550/arxiv.2203.00398
• Baumgartner, H., & Homburg, C. (1996). Applications of structural equation modeling in marketing and consumer research: A review. International Journal of Research in Marketing, 13(2), 139–161. https://doi.org/10.1016/0167-8116(95)00038-0
• Beavers John W Lounsbury Jennifer K Richards Schuyler W Huck Gary J Skolits, A. S. (2013). Practical Considerations for Using Exploratory Factor Analysis in Educational Research. Practical Assessment, Research, and Evaluation, 18(6). https://doi.org/10.7275/qv2q-rk76
• Buldas, A., Draheim, D., Gault, M., & Saarepera, M. (2022). Towards a Foundation of Web3. Communications in Computer and Information Science, 1688 CCIS, 3–18. https://doi.org/10.1007/978-981-19-8069-5_1/FIGURES/3
• Carpenter, S. (2018). Ten Steps in Scale Development and Reporting: A Guide for Researchers. Communication Methods and Measures, 12(1), 25–44. https://doi.org/10.1080/19312458.2017.1396583
• Chen, C., Zhang, L., Li, Y., Liao, T., Zhao, S., Zheng, Z., … Wu, J. (2022). When Digital Economy Meets Web3.0: Applications and Challenges. IEEE Open Journal of the Computer Society, 3, 233–245. https://doi.org/10.1109/OJCS.2022.3217565
• Chen, Y., & Bellavitis, C. (2019). Blockchain disruption and decentralized finance: The rise of decentralized business models. https://doi.org/10.1016/j.jbvi.2019.e00151
• Cohen, L., Manion, L., & Morrison, K. (2007). Research Methods in Education. Research Methods in Education. https://doi.org/10.4324/9780203029053
• Comrey, A. L., & Lee, H. B. (1992). A First Course in Factor Analysis (2nd ed.). Lawrence Erlbaum.
• Çelik, T. (2021). Web 2.0 Araçları Kullanımı Yetkinliği Ölçeği Geliştirme Çalışması [Web 2.0 Tools Usage Competence Scale Development Study] . Pamukkale Üniversitesi Eğitim Fakültesi Dergisi [Pamukkale University Journal of Education], (51) , 449-478 . DOI: 10.9779/pauefd.700181
• DeVellis, R. F., & Thorpe, C. T. (2021). Scale development: Theory and applications. Sage publications.
• Ding, W., Hou, J., Li, J., Guo, C., Qin, J., Kozma, R., & Wang, F. Y. (2022). DeSci Based on Web3 and DAO: A Comprehensive Overview and Reference Model. IEEE Transactions on Computational Social Systems, 9(5), 1563–1573. https://doi.org/10.1109/TCSS.2022.3204745
• Field, A. (2009). Discovering Statistics Using SPSS (3rd ed.). In England: SAGE Publications Ltd. (Vol. 264). Sage Publications Chennai, India.
• Fuchs, C. (2010). Web 2.0, Prosumption, and Surveillance. Surveillance & Society, 8(3), 288–309. https://doi.org/10.24908/ss.v8i3.4165
• Gao, H., Chong, A. Y. L., & Bao, H. (2023). Metaverse: Literature Review, Synthesis and Future Research Agenda. Journal of Computer Information Systems. https://doi.org/10.1080/08874417.2023.2233455
• Harrington, D. (2009). Confirmatory Factor Analysis (Pocket Guides to Social Work). Oxford University Press, 122.
• Hartley, J. (2014). Some thoughts on Likert-type scales. International journal of clinical and health psychology, 14(1), 83-86.
• Horzum, M. B., & Aydemir, Z. (2014). Web 2.0 Tools and Educational Usage Self-efficacy: A Scale Development Study. Procedia - Social and Behavioral Sciences, 116, 453–458. https://doi.org/10.1016/J.SBSPRO.2014.01.239
• Jamieson S. (2004). Likert scales: how to (ab)use them. Medical education, 38(12), 1217–1218. https://doi.org/10.1111/j.1365-2929.2004.02012.x
• Jollife, I. T., & Cadima, J. (2016). Principal component analysis: a review and recent developments. Philosophical Transactions of the Royal Society A: Mathematical, Physical and Engineering Sciences, 374(2065). https://doi.org/10.1098/RSTA.2015.0202
• Joshi, A., Kale, S., Chandel, S., & Pal, D. K. (2015). Likert Scale: Explored and Explained. Current Journal of Applied Science and Technology, 7(4), 396–403. https://doi.org/10.9734/BJAST/2015/14975
• Kaiser, H. F. (1958). The varimax criterion for analytic rotation in factor analysis. Psychometrika, 23(3), 187–200. https://doi.org/10.1007/BF02289233/METRICS
• Kaiser, H. F. (1974). An index of factorial simplicity. Psychometrika, 39(1), 31–36. https://doi.org/10.1007/BF02291575/METRICS
• Kaplan, A. M., & Haenlein, M. (2010). Users of the world, unite! The challenges and opportunities of Social Media. Business Horizons, 53(1), 59–68. https://doi.org/10.1016/j.bushor.2009.09.003
• Lascu, D. N., & Clow, K. E. (2008). Web Site Interaction Satisfaction: Scale Development Considerations. Journal of Internet Commerce, 7(3), 359–378. https://doi.org/10.1080/15332860802250476
• Liu, H. X., Chow, B. C., Liang, W., Hassel, H., & Huang, Y. J. W. (2021). Measuring a broad spectrum of ehealth skills in the web 3.0 context using an eHealth literacy scale: Development and validation study. Journal of Medical Internet Research, 23(9). https://doi.org/10.2196/31627
• Liu, Z., Xiang, Y., Shi, J., Gao, P., Wang, H., Xiao, X., … Hu, Y. C. (2022). Make Web3.0 Connected. IEEE Transactions on Dependable and Secure Computing, 19(5), 2965–2981. https://doi.org/10.1109/TDSC.2021.3079315
• Lodico, M. G., Spaulding, D. T., & Voegtle, K. H. (2006). METHODS IN EDUCATIONAL RESEARCH From Theory to Practice. John Wiley & Sons.
• MacCallum, R. C., Widaman, K. F., Zhang, S., & Hong, S. (1999). Sample Size in Factor Analysis. Psychological Methods, 4(1), 84-99. https://doi.org/10.1037/1082-989X.4.1.84
• Momtaz, P. P. (2022). How Efficient is Decentralized Finance (DeFi)? SSRN Electronic Journal. https://doi.org/10.2139/SSRN.4063670
• Murray, A., Kim, D., & Combs, J. (2023). The promise of a decentralized internet: What is Web3 and how can firms prepare? Business Horizons, 66(2), 191–202. https://doi.org/10.1016/J.BUSHOR.2022.06.002
• Murray, A., Kuban, S., Josefy, M., & Anderson, J. (2021). Contracting in the Smart Era: The Implications of Blockchain and Decentralized Autonomous Organizations for Contracting and Corporate Governance. Academy of Management Perspectives, 35(4), 622–641. https://doi.org/10.5465/AMP.2018.0066
• Nishi, F. K., Shams-E-Mofiz, M., Khan, M. M., Alsufyani, A., Bourouis, S., Gupta, P., & Saini, D. K. (2022). Electronic Healthcare Data Record Security Using Blockchain and Smart Contract. Journal of Sensors, 2022. https://doi.org/10.1155/2022/7299185
• O’Reilly, T. (2007). What is web 2.0?: Design patterns and business models for the next generation of software. The Social Media Reader, (65), 32–52.
• Oosthoek, K. (2021). Flash Crash for Cash: Cyber Threats in Decentralized Finance. Retrieved from https://arxiv.org/abs/2106.10740v1
• Shadbolt, N., Hall, W., & Berners-Lee, T. (2006). The semantic web revisited. IEEE Intelligent Systems, 21(3), 96–101. https://doi.org/10.1109/MIS.2006.62
• Sheridan, D., Harris, J., Wear, F., Cowell Jr, J., Wong, E., & Yazdinejad, A. (2022). Web3 Challenges and Opportunities for the Market. https://doi.org/10.48550/arxiv.2209.02446
• Srnicek, N. (2017). Platform Capatlism. 1–170. Retrieved from https://www.wiley.com/en-us/Platform+Capitalism-p-9781509504862
• Swan, M. (2015). Blockchain: Blueprint for a New Economy. O’Reilly Media, Inc.
• Tabachnick, B. ., & Fidell, L. . (2013). Using multivariate statistics:Pearson new international edition. Pearson Education Limited, 375–411.
• Tavşancıl, E. (2010). Tutumların Ölçülmesi ve SPSS ile Veri Analizi [Measurement of attitudes and data analysis with SPSS]. Nobel Yayın Dağıtım [Nobel Publication Distribution].
• Tezbaşaran, A. A. (2004). Likert Tipi Ölçeklere Madde Seçmede Geleneksel Madde Analizi Tekniklerinin Karşılaştırılması [A Comparison of Conventional Item Analysis Techniques to Construct Likert Type Scales]. Türk Psikoloji Dergisi [Turkish Journal of Psychology], 19(54), 77–89.
• Tucker, L. R., & MacCallum, R. C. (1997). Exploratory factor analysis. Unpublished Manuscript, Ohio State University, Columbus, 1–459.
• Wang, H., Ning, H., Lin, Y., Wang, W., Dhelim, S., Farha, F., … Daneshmand, M. (2023). A Survey on the Metaverse: The State-of-the-Art, Technologies, Applications, and Challenges. IEEE Internet of Things Journal. https://doi.org/10.1109/JIOT.2023.3278329
• Wang, Q., Li, R., Wang, Q., & Chen, S. (2021). Non-Fungible Token (NFT): Overview, Evaluation, Opportunities and Challenges. https://doi.org/10.48550/arxiv.2105.07447
• Wiles, J. (2022). What Is Web3? Retrieved September 24, 2023, from https://www.gartner.com/en/articles/what-is-web3
• Zheng, P., Jiang, Z., Wu, J., & Zheng, Z. (2023). Blockchain-Based Decentralized Application: A Survey. IEEE Open Journal of the Computer Society, 4, 121–133. https://doi.org/10.1109/OJCS.2023.3251854
• Zheng, Z., Xie, S., Dai, H., Chen, X., & Wang, H. (2017). An Overview of Blockchain Technology: Architecture, Consensus, and Future Trends. Proceedings - 2017 IEEE 6th International Congress on Big Data, BigData Congress 2017, 557–564. https://doi.org/10.1109/BIGDATACONGRESS.2017.85
• Zuboff, S. (2019). The Age of Surveillance Capitalism: The Fight for a Human Future at the New Frontier of Power. Journal of Digital Media & Policy, 10(2), 229–243. https://doi.org/10.1386/jdmp.10.2.229_5