Learn more about crypto with this collection
How to make rational decisions
The role of biases in decision-making
The impact of social norms on decision-making
Cost
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.
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User experience
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. ...
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Accessibility
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.
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How to position your business for the future
- 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, Snoo...
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The challenges facing Web 3.0
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 ne...
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Scalability
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 computi...
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