The tech world is seriously preparing for the revolution that is Web3. For the past few years, the tech industry has been buzzing with excitement over what many believe to be the next wave of the internet’s evolution. It seems clear now – more than ever – that we are witnessing perhaps one of the most pivotal moments in the history of the internet.
Given the impact that Web3 is expected to have, it is clear that it won’t just be a change that is restricted to the tech pace. As we all know the internet has successfully penetrated every facet of human life and now affects everything we do. This means that Web3 itself will have implications for companies in every field. So, it is worth noting how Web3 will affect your company’s ability to interact with the internet and what you need to do to put yourself in place for it.
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The Technologies In The Web3 Stack
For now, it seems too early to know all of the technologies that will make this innovation of the internet possible. Even with the development already seen, Web3 remains an enigma to many people.
However, what we know is that this innovation is sure to bring changes to the backend of many technologies. Unlike its predecessors, Web3 will focus on technologies like blockchain and the Internet of Things. There will also be a focus on machine learning and artificial intelligence – both of which promise to make computers faster and more adept at learning.
With a focus on peer-to-peer technology, Web3 promises to improve the sharing of knowledge and control of data by individuals. We will move from an era where information and data are controlled by a few companies that can essentially do whatever they want with it. Instead, Web3 will offer people the opportunities to control their data and maintain its safety.
These same benefits will extend to companies. The fundamental technologies behind Web3 have already proven to be effective when it comes to invading different aspects of company operations, and we expect to see the same happen on a broader scale.
For a perfect example of this, look no further than the Super Protocol. This tool combines blockchain technology with confidential computing to create a cloud computing platform that is focused on user control and data safety.
With the Super Protocol cloud computing promises to be decentralized and more data-friendly. Users get to control the flow of their data and who even sees the data in the first place. The platform also focuses on bolstering confidentiality, so no one can access your data if you don’t want them to.
The Promises Of A Web3-Driven World
With all of these in mind, it is also worth noting some of the ways that Web3 aims to help companies improve their operations.
Improving User Journeys
We already covered blockchain and how it can improve cloud computing with the Super Protocol. However, blockchain also provides an opportunity for companies to incorporate a simpler onboarding process for their customers.
Today, we already see companies using their customers’ Facebook logins to onboard on their platforms. Blockchain technology can do something similar, except that it won’t store users’ information. Under blockchain, every user owns and controls their data.
Ultimately, this means that businesses benefit because their customers will be able to sign in easily. Companies won’t also need to store any piece of data on their end. So, you’re taking out potential security issues and providing nothing but a seamless user onboarding experience.
Besides onboarding, the blockchain stack can also help companies to create effective customer journeys for their clients. And, the application of artificial intelligence ensures that the process can be as automated and stress-free as possible.
Companies can embrace this by adopting blockchain for their signup flows. This is a backend issue, of course, and the right blockchain engineers will be able to help incorporate this.
Optimizing Customer Trust
Recently, there has been a spike in customer distrust of companies and their data collection processes. Consumers want their companies to do better when it comes to data collection, and some also believe that companies might be using their data in the wrong way.
This growing trend shows the importance of businesses focusing on data safety and confidentiality. Blockchain and artificial intelligence can help your company to gain the edge over its competitors – and build a strong trust between your company and its customers.
By storing data on a blockchain, you’re decentralizing it and making it transparent. Users also maintain control of their data, so they can keep it private if they want or provide consent for you or anyone else to make use of it.
With blockchain, your company will be able to provide the two things that customers want the most when it comes to data – safety and control. Some experts even believe that providing control to customers can fundamentally change the tech landscape – the tech giants that have been accustomed to holding most of the data would be forced to lose it, and by extension, lose their edge.
Better Customer Knowledge
While you might think that giving customers control of their data means you won’t be able to know more about them, you’d be wrong.
Web3 allows companies to collect less “hard” data on their customers. However, it allows you to also build new systems to engage with them and collect valuable information about them. Instead of using stored data, you can apply a decentralized model to create a proper alignment between multiple user economics.
With Web3, you can engage a user-generated content library and interact with them. Instead of taking data, why not let your customers give it to you freely?
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