Web 3.0 Blockchain, the Decentralized Web, Defined
In the meantime we are seeing limited but noteworthy pockets of success in enterprise blockchain primarily in supply chain (asset tracking and provenance) and payment (mainly stablecoin, fiat token) use cases. The main reason why enterprise blockchain success is limited – aside from technology immaturity – is that the governance models are still basically centralized. They typically replace central authorities with task force/committee/consortium authority where a couple of players exert the most influence. The state of enterprise blockchain today is akin to EDI 3.0 and not much more than that, though it does have significant evolutionary value by leveraging a combination of transforming technologies including AI, IoT, and blockchain.
Blockchain’s Big Bang
The big bang with for enterprises, when it comes blockchain, will not occur until businesses learn to participate in a truly decentralized model. That won’t happen until we move to Web 3.0 Blockchain Market, and the technologies that support it are mature and scalable. At that point, users won’t have to worry about blockchain protocols, just like today they don’t worry about underlying Internet protocols.
Users and consumers, who in many cases will be their own application and content developers, will just have to worry about their decentralized applications and processes. The rest will just work. We may even get to a point of ‘government for the people by the people’ but that’s for the libertarians to figure out.
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Web 3.0 Blockchain Market Research Report: By Blockchain Type (Public, Private, Consortium, and Hybrid), By Application (Cryptocurrency, Conversational AI, Data & Transaction Storage, Payments, Smart Contract, and Others), By Vertical (BFSI, E-commerce & Retail, Media & Entertainment, Healthcare & Pharmaceuticals, IT & Telecom, and Others), By Region (North America, Europe, Asia-Pacific, Middle East & Africa, and South America)—Forecast till 2030