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.

User experience 

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.

Accessibility

When blockchain was first envisioned, one key attraction was costless transactions. It turns out to be very expensive and energy-intensive.  However, there is a huge shift towards using more eco-friendly methods of natural gas, hydroelectric, wind and solar projects rising to power crypto mining. At a granular level, there is a shift toward decentralised apps that use very little code on the blockchain to restrict transaction costs, and startups work on ways to monetise the network to offset those costs.

Cost

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.

Scalability

<ul><li>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.</li><li>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?</li><li>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.</li></ul>

How to position your business for the future

Most people behind the hype of Web3 are trying to make a quick dollar. However, Web 3.0 is a certainty although it is still a distance off. If you want to participate long-term and strategically, it is important to understand the challenges of the underlying infrastructure upon which the new virtual world is being built.

The challenges facing Web 3.0 

While there are still serious issues to be solved in the building of the blockchain-based future of the internet, you've got to begin dipping your toes in it, and you've got to do it now.