As Web3 becomes a major new industry in the startup technology sector, the question is increasingly asked, as it has been with each prior cycle of digital innovation: How it will involve business and IT?
With all the innovations in the world, it can be difficult to separate the signal from the noise when it comes to often controversial subjects like cryptocurrency, blockchain, or NFTs. While not getting much respect in certain quarters, there is also little doubt that the technology innovations underpinning these trends have formed a major bow wave of innovation under the general rubric of Web3.
Cryptocurrency, blockchain, and NFTs have undergone numerous hype cycles and investment rounds already. Despite travails, the industry has steadily grown year after year, even as significant parts of it are currently undergoing one of the largest downturns to date. But these cycles now appear inevitable in a world where exponential technologies tend to accelerate and magnify major events. The question now is if Web3 has become important to the enterprise.
I now believe that the evidence is in: Web3 is an important category of technology to the business world. Should the average organization be investing in understanding and realizing Web3's dense layers of highly sophisticated ideas and technologies? Is it significant and inevitable enough now to warrant concerted investment and innovation? Let's take a closer look at what's happening in the space.
Web3 has grown up
One test of a technology trend is its venture capital activity, which attracts the current generation of up-and-comers and leading talent to fresh, green-field opportunities. Here is where Web3 currently has some impressive proof points: The respected venture capital firm Andreessen Horowitz is already into its fourth and largest-ever Web3-related fund, Crypto Fund 4, which raised an unprecedented $4.5 billion last month for a gamut of blockchain-related investments that will flesh out "the next generation of computing." Another proof point is the number of decentralized apps or 'Dapps', which are used in Web3 ecosystems. These recently crossed the 4,000 mark and are growing fast, according to the State of the Dapps industry tracker. There are other proof points.
Continue reading: https://www.zdnet.com/article/how-decentralization-and-web3-will-impact-the-enterprise/
With all the innovations in the world, it can be difficult to separate the signal from the noise when it comes to often controversial subjects like cryptocurrency, blockchain, or NFTs. While not getting much respect in certain quarters, there is also little doubt that the technology innovations underpinning these trends have formed a major bow wave of innovation under the general rubric of Web3.
Cryptocurrency, blockchain, and NFTs have undergone numerous hype cycles and investment rounds already. Despite travails, the industry has steadily grown year after year, even as significant parts of it are currently undergoing one of the largest downturns to date. But these cycles now appear inevitable in a world where exponential technologies tend to accelerate and magnify major events. The question now is if Web3 has become important to the enterprise.
I now believe that the evidence is in: Web3 is an important category of technology to the business world. Should the average organization be investing in understanding and realizing Web3's dense layers of highly sophisticated ideas and technologies? Is it significant and inevitable enough now to warrant concerted investment and innovation? Let's take a closer look at what's happening in the space.
Web3 has grown up
One test of a technology trend is its venture capital activity, which attracts the current generation of up-and-comers and leading talent to fresh, green-field opportunities. Here is where Web3 currently has some impressive proof points: The respected venture capital firm Andreessen Horowitz is already into its fourth and largest-ever Web3-related fund, Crypto Fund 4, which raised an unprecedented $4.5 billion last month for a gamut of blockchain-related investments that will flesh out "the next generation of computing." Another proof point is the number of decentralized apps or 'Dapps', which are used in Web3 ecosystems. These recently crossed the 4,000 mark and are growing fast, according to the State of the Dapps industry tracker. There are other proof points.
Continue reading: https://www.zdnet.com/article/how-decentralization-and-web3-will-impact-the-enterprise/
