Now is the right time for entrepreneurs to embrace Web 3.0?

This new technology started to make people unhappy, but now almost all companies trust it and it will become a vital part of the business.

New technologies are almost always dangerous, from animal traction to in-house electronics, from texting to the phone. Change takes a lot of confidence. Thus, it is worth recalling the initial state of the Internet 25 years ago, with Web 2.0 evolving and extending to Web 3.0 (now a distributed layer at the top of the network infrastructure).

If you are old enough, you will remember our fears and doubts. It might sound obvious, but send your credit card information to an unknown location, hoping to get a book or other freebie, or check your bank account online for a bit. Today we will no longer think about this question. Web 2.0 has become an integral part of our lives and businesses and makes it easier to manage in two thoughtless ways.

Web 3.0, developed by blockchain technology, will follow the same pattern. Web 2.0 has created an administrative framework that we believe in and rely on. However, this centralization ultimately led to the emergence of the technological oligarchy which monopolized the world market and made it very difficult to dismantle its owners. Blockchain enables us to overcome these limitations, and the technology that supports Web 3.0 allows innovative ideas and business models to flourish. Web 3.0 democratizes the ability to build profitable businesses, enabling entrepreneurs to deliver services such as financial, insurance, and corporate solutions that were previously only available to large businesses. By eliminating untrusted intermediaries and allowing users to directly interact with untrusted intermediaries, Web 3.0 provides businesses and consumers with all new applications that could not be included in previous models.

For example, in the best of the world, users can transfer money to other people or to international companies without delay, and there are often costs associated with using the bank. . The new Web 3.0 infrastructure supports unprecedented commercial friction solutions, improved focus and performance, and managed evidence and flexibility. Now blockchain campaigns have been carried out to solve the problem of friction, speed and liability by eliminating third parties.

The same logic can be applied to chains, and through concentration, blockchain can eliminate additional costs in the chain and improve partner integration. The chain's products are also easy to follow, adding additional functionality.

“Businesses can build applications with distributed logic across thousands of blockchain nodes. "

The decentralized architecture of blockchain technology will bring value to next generation businesses. Depending on the location of operations or the use of servers owned and managed by a centralized organization, companies can build applications where logic is spread across thousands of blockchain nodes, providing insight and immutability.

Transparency and auditability may not seem affected, but their lives solve business problems that many entrepreneurs ignore.

Full transparency means that changes in logic and data can be seen and tracked over the network, so everyone knows where the changes are coming from, cannot be changed. , and can verify the accuracy and location of the information. Of course, most businesses rely on accurate financial information. In the normal process, a person in the device who does not recognize the data or makes a mistake can have a serious impact. On the other hand, if the newsletter is blockchain-based, it is easier to identify who is responsible and change the process.

The auto industry in particular has seen huge benefits since the advent of this technology. By keeping blockchain products in place, automakers can see inefficiencies and increase productivity. It's time for the healthcare industry to improve blockchain technology by providing information on patient protection, patient privacy, and data protection. Insurance is another booming industry. Businesses can use industry standards and smart contracts to make their invoicing process smoother and more efficient.

This also applies to parameterized insurance, where a smart contract can maximize its benefits when an emergency occurs and events are over. For example, a passenger who has booked a flight and has insurance on the plane will receive automatic payment if the flight is canceled. No other document is required and there is no delay. A simple smart contract solution that takes the complexity out of the payment process.

"Application distribution integrates across Web 3.0 to provide a comprehensive framework that makes them more efficient."

When describing future applications, it is important to keep in mind that although these applications are used on the blockchain, they will not work on their own. Just like today, all of these justice applications will work together in Web 3.0 to provide better integration and efficiency. For example, the insurance contract described above can receive feedback information from the health application and then send the signal to the contract monitoring equipment. With the same capabilities of Web 2.0, APIs will become the "glue" that binds these independent applications.

Key points. In blockchain, the off-chain network API should be different. Because consensus is at the heart of Web 3.0, external data cannot be downloaded without network permission. API3, responsible for passwords such as Chainlink. However, unlike traditional oracles, API3 writes this difference in the simplest way, allowing API providers to send applications directly, one side at a time, the solution used by third-party oracles. These solutions promise to open Web 3.0 to the next generation of blockchain applications.

Finally, we are using Web 3.0 orblockchainWe will solve all the world's problems, even your business problems. You can take to Twitter to see how everyone is discussing the activities. What we mean is, don't be afraid to test your water with this new tool. The benefits of being clear, precise, efficient and reliable are worth trying. Ignoring Web 3.0 today is as bad as not using the Internet 25 years ago.