Web3 may seem too new for usability, but here are five ways it can transform your business.
Technological developments have always had profound effects on the way businesses operate. The proliferation of the internet led to the introduction of digital marketing. The development of artificial intelligence changed how businesses interact with their customers. And now, Web3 is set to revamp how the internet works as a whole.
Web3 is touted as the turning point of the modern internet and is expected to rehaul cyberspace as we know it. What should a business expect from the successor of Web2.0, the internet we have grown accustomed to?
What is Web3?
Before we dive into how Web3 is expected to influence small businesses, let's first talk about what Web3 really is. It is a blockchain-driven internet that offers a decentralized alternative to the web as we know it.
While still in the early stages of development, Web3 solves what seems to be the most difficult problem with the internet today. It offers better data privacy by eliminating central organizations and allowing users to keep their data stored in their personal crypto wallets.
So, while Web3 may not entirely replace today's internet, it may offer a safer alternative and may trigger an exodus of users from the second to the third generation of the internet.
Benefits of Web3
Web3 is still in the making. So all its benefits are currently rooted in theories and the potential of blockchain technology. If the technology develops like Big Techs have assumed it would, these benefits might be realized, leading to a massive shift in business processes.
Continue reading: https://www.entrepreneur.com/science-technology/how-web3-will-transform-small-business/436351
Technological developments have always had profound effects on the way businesses operate. The proliferation of the internet led to the introduction of digital marketing. The development of artificial intelligence changed how businesses interact with their customers. And now, Web3 is set to revamp how the internet works as a whole.
Web3 is touted as the turning point of the modern internet and is expected to rehaul cyberspace as we know it. What should a business expect from the successor of Web2.0, the internet we have grown accustomed to?
What is Web3?
Before we dive into how Web3 is expected to influence small businesses, let's first talk about what Web3 really is. It is a blockchain-driven internet that offers a decentralized alternative to the web as we know it.
While still in the early stages of development, Web3 solves what seems to be the most difficult problem with the internet today. It offers better data privacy by eliminating central organizations and allowing users to keep their data stored in their personal crypto wallets.
So, while Web3 may not entirely replace today's internet, it may offer a safer alternative and may trigger an exodus of users from the second to the third generation of the internet.
Benefits of Web3
Web3 is still in the making. So all its benefits are currently rooted in theories and the potential of blockchain technology. If the technology develops like Big Techs have assumed it would, these benefits might be realized, leading to a massive shift in business processes.
Continue reading: https://www.entrepreneur.com/science-technology/how-web3-will-transform-small-business/436351
