The adoption of web3 technologies today is where the Internet was in the late 1990s. Both excitement for and adoption of web3 are growing rapidly. Monthly active developers in web3 have increased 297% since 20181; a surge mirrored by a significant boost in web3’s mainstream momentum. In fact, Gartner® predicts that “By 2024, 25% of enterprises will use centralized services wrapped around Decentralized Web3 applications."2
Despite the excitement for and movement towards web3, many of our customers are cautious when considering new technologies such as this one. There is, of course, always risk involved when adopting emerging technologies. And businesses cannot afford to lose their customers’ and investors’ trust.
As such, enterprises looking to move into the next generation of the internet must set clear objectives and define a web3 adoption strategy that aligns with priorities from both business and technology perspectives.
What follows are notes from conversations I have with customers to help them begin to identify roadblocks and map out a plan.
The term “Web 3.0” is often meant to be the third stage of the web. Web3 moves us from the static pages of the first generation of the web in the 1990s, and the user-created-content centric second wave of the 2000s, to a decentralized internet. Web3 is owned and run by users without relying on a central governing authority or third-party platforms.