Watch Adam's talk at Zebu Live in September 2022, where he presented a talk to help businesses realise where to use web3, where it can add the most value, and how to fit it into a product.
As he explored, below are the main reasons to use Web3 and where it can add the most value to your business or product:
- Cutting off the intermediaries like Google or Facebook and building a true verification system using blockchain.
- Moving from "Trust that you own something" to truly owning digital assets.
- Moving from "Could be true data" to absolutely accurate data.
- Introducing crypto payments to move away from cash-based payments.
- Using NFTs and rentable tokens, businesses can turn one-off customers into recurring customers and receive lifetime value.
- Moving from static to dynamic markets - everything becomes tradable, and so everything becomes a market.
- In the Web3 world, people are no longer brand followers; they shape a community around a brand through participation.
- Moving from a commercial relationship to an aligned interest and meaningful relationships between brands and their communities.
- Web3 can work as a backup platform or as a disaster recovery mechanism by moving from centralised data storage to decentralised data storage.
- Moving from manual to automatic decision-making, some of the most critical decisions businesses need to make shouldn't rely on humans to trigger them.
- Maintaining security in Web2 software is a complex and ongoing process, whilst blockchain is secure by default.
And finally, let's answer our question: Should every product be a Web3 product?
In pure terms, no, but where we're going to end up is that every product will either be a native Web3 product or contain Web3 features and components.
Want in? Let's get started.
As Web3 is in a developmental stage, businesses that are now starting to build their Web3 strategy will be the first to capitalise on its countless opportunities and future-proof their business.
Contact our team to discuss:
- Web3 Strategy
- Smart contracts