Last Updated on May 18, 2023
- First, web3 tech giants like Google and Apple must be convinced to build on the blockchain to improve user experience and handle scale.
- Second, the web3 builder community must focus on creating world-changing dApps for multiple use cases.
- Third, the community must use public forums like CES and the World Economic Forum to communicate the benefits of web3.
Mo Shaikh believes the future is still bright for Web3. The Aptos CEO penned a blog post “Web3 Deserves a Permanent Place on the Global Decision-Maker Agenda” for CrunchBase explaining what needs to happen for web3 to realise its full potential.
According to Shaikh, web3 represents more than crypto. We have already seen it in gaming, social media, finance, sports, entertainment, education and commerce among others. These are the areas where companies can derive use cases for the next iteration of the web. Therefore, it should not be viewed as volatile as crypto itself.
However, to move to the next frontier, the industry requires three things to happen, which Shaikh lists in one paragraph as follows.
First, the industry needs to convince the likes of Google, Apple and Amazon, to jump on the web3 train and build on top of highly scalable blockchains focused on improving user experiences.
Second, Shaikh believes that it is important to empower and encourage web3 developers to create decentralised apps for multiple use cases.
And third, he also urged the community to use thought leadership platforms like the World Economic Forum, the Consumer Electronics Show (CES), and the United Nations General Assembly (UNGA) to advocate for the benefits of web3 with a select group of global decision-makers.
Although Shaikh understands it is not an easy task trying to ask everyone to make the shift to web3, he believes improving user experience, security and entertainment can play a big role in the onboarding process.
“I’ll be among the first to say the last seven years or so have been spent testing Web3 and blockchain limitations in a relative vacuum. Significant gaps in user experience, security and entertainment need to be filled in order for Web3 to enter daily routines across the globe,” he wrote.
Shaikh believes that over the next few years, more people will be able to access web3, with more sophistication bringing improvement to the ecosystem.
The Aptos head also thinks it will be important to bring business and government leaders on board.
“I’m optimistic about what the near future of Web3 holds if we can use forums like Davos or UNGA to guide governments, companies and society toward forging a more transparent, inclusive and experience-driven digital community,” he wrote.
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