What is Web 3.0 and How It Can Boost Your Business?
Web 3.0 is a revolution to the internet providing a blockchain based decentralized atmosphere. Likewise, there will be customized insights on search engines as per the context you have searched for. The centralized data stored on different servers will be replaced by information stored on several computer devices. In short, it will act like a peer to peer network with no authority on a single user.
Feature of Web 3.0
- Semantic Web
It uses Artificial Intelligence to be able to understand the purpose of the user and the computer. It will allow web technologies to generate and connect content with the help of meaningful words instead of keywords.
3D Graphics and Spatial Web
Blockchain and Cryptocurrency
Prevents involvement of middlemen and allows direct transactions between two users. The blockchain technology helps web 3.0 to carry secure transactions while Cryptocurrency helps in removing middle man including financial institutions.
Sometimes, with no proper keyword research, the user may face difficulties in getting proper results. With the help of Artificial Intelligence technology, the user searches can be improved and the user will get more relevant search results.
Benefits of Web 3.0 On
Below are the benefits that Web 3.0 will have on Business:
Eliminates Third Party
Third parties will be eliminated by blockchain technology and decentralized applications. Likewise, Cryptocurrency reduces requirements of banks and other sources of financial transactions. Eliminating the third party will lead to reduction of cost and encourage business to be able to compete.
Every transaction occurring within the blockchain domain will be tracked, making it easy for customers to have trust in business and purchase their products.
With higher security, the hackers won’t be able to access any sensitive information. There is no chance of failure or corruption with the help of decentralized blockchain technology. As we already know, the data stored in blockchain can be changed or it can be owned by a single person.
As all the transactions are recorded in the decentralized ledger account having been accessed by all the parties, the company will be directly accountable to its users. It helps businesses to maintain good relationships with their customers. The customer is very well aware that the data stored can not be changed, thus making it authentic information.
Supply Chain Management
On Web 3.0, the businesses can easily track the status of the supply chain. By proper monitoring of the supply chain, any sort of hindrance can be reduced during manufacturing and delivery of the product. The delivery of the product can be further improved by sharing delivery schedule, deadlines of the contract with the suppliers.
Also Read: How To Create An NFT Marketplace In 2022-23 And How Much Does It Cost?
Impact of Web 3.0 On Business
Web 3.0 will impact business in such a way that will allow them to act user centric and help them work with transparency. Talking about user data, everything will be transformed, especially the way companies use to operate.
All of the businesses either traditional or new formed will adopt the blockchain technology and the opportunities it would bring.
Every application businesses are using will receive a blockchain update and make everything accessible to all. Other than public networks, there will be private networks which can only be accessible to selected individuals. Let’s take a look at the impact that Web 3.0 will have on Business.
Complete Authority Of Customers over their Asset
Web 3.0 will impact business by changing the way networks operate and focuses on user’s privacy. It is safe to store user’s data and prevents hacking and fraudulent activity.
Easy Login with Higher Security
With higher security, the user will be satisfied with the login experience. Just like you login in different Social media websites, the blockchain technology follows the same approach of storing user data. Being the only owner of your data in blockchain space, you can still allow your clients to login easily on your website.
Agnito Technologies is trusted Web 3.0 Development company. We have years of experience in Web development and mobile applications. With a team of over 200 developers, our company has managed to deliver around 150 projects. Our dedicated developers also hold expertise in services like cryptocurrency app development, metaverse development, blockchain game and Solana blockchain development.