Bill Gates once said, “The internet is becoming the town square for the global village of tomorrow.” Yes, most of us these days cannot imagine a day without web access.
Thanks to ISPs for making our lives easier! Web technology has progressed from Web 1 in its infancy to Web 3 now.
Web 1, the first-generation web technology, offered basic HTML and email. But Web 2.0 is information-centric. Now, Web 3 is already user-centric. With time, user-centricity will improve to further levels.
Thanks to AI and Machine Learning possibilities are assured by Web 3! You can understand the growth of web technology from the picture below:
Are you wondering whether your small business can benefit from Web 3? If your answer is affirmative, you should know about the role that web 3 and its applications can play in your business:
A Decentralised Web:
Do you know that web 3 aims to make peer-to-peer cryptographic data transfers normal? Yes, with Web3, you can manage cryptographic data transfers yourself. Most importantly, you can do it without having big technology and financial organisations by your side.
A Brighter Scope:
You might wonder, Web 2 is presently used widely and where does the need for Web 3 arise? But you should remember that over the next few years, Web 3 services are going to be part of everyday business operations.
Streamlined Collaboration:
In your business, you will have to work with other parties. For instance, you might need some raw materials or services from third parties for your business.
With the help of applications like Smart Contracts, Web 3 will streamline the process of working with third parties. Even, when you have distant associations, Web 3 can provide the foundation for trust.
As a business owner, you are well aware of the importance of trust in any business relationship.
Improvement in User Journeys:
Your potential business clients will get a simple and friendly onboarding process. Thanks to blockchain technology in Web 3 that makes this possible. Due to the hectic and long sign-up process, your business should not lose prospective clients.
An excellent example is how to use your Google or Facebook credentials to sign in to other websites. But, the good thing about blockchain is that it does not store the login details of your prospective clients.
With Web 3, your prospective clients will find plenty of ways to sign up on your website. They can accomplish this with no or minimal difficulty. They will appreciate your efforts to make the onboarding process easier and hassle-free for them.
Enhances Cyber Security:
Many of us have dealt with cybersecurity issues in the past. This is the most serious threat in the online shopping arena.
People hesitate to share their information on any site due to a fear of cyberattacks. Let us consider that your business fails to safeguard the sensitive data of your clients. In this case, the risk of lawsuits is higher.
An excellent example is a loss suffered by British Airways. The company faced a huge $26 million fine in 2018 as it failed to safeguard the sensitive data of consumers. But Web 3 will eliminate this issue due to blockchain technology.
Conclusion:
Now, you know that Web 3 has lots to do for your business; what are you waiting for? Web 3 is undoubtedly the most trusted way to add value to your business. Buckle up to see your business grow with the latest web technology, WEB3
