Web 3.0 Is Coming, and Here's What That Really Means for You

In a decentralised network, transactions become slower because every transaction has to move through the entire peer-to-peer network, or it requires high "gas fees" to speed up transactions.

The leading microchip manufacturer in Intel states that we'll be at 5 - 10 times our current computing power over the next five years. For Web3, we need to be at 1000 times. Software innovation is also occurring faster, but the gap is still huge.

There is a very steep learning curve involved in Web3. Your existing web browsers don't support direct access to Web3 experiences. Instead, you need several browser extensions or plug-ins for the essential benefits.

Web3 needs to become much easier to access and navigate for mass adoption. And then educational content and training about getting started are still needed.

Elon Musks' Starlink is still trying to bring internet connectivity, i.e. Web 1.0 and Web 2.0, to the developing world.

We also need mass-scale hardware upgrades to servers and end-user devices as the current mobile and IoT devices are not ready for the Web3 revolution.

• Educate yourself. Figure out how you want to ultimately position your brand as a Web 3 player so that you don't have to play catch up. Set up Google Alerts and track "Web3" as a keyword.
• Study the pioneers. Brands like Nike, Adidas, Pepsi, Zara, Snoop Dogg have already started making their Web3 and metaverse bets. What can you learn from them?
• Start small. You will need exposure to decentralised finance, or DeFi, to stay relevant and send and receive payments in Web3. Start small by setting up your wallet and purchasing a Web3 domain.