![]() It also covers the legalization of cryptocurrencies and different approaches countries are taking towards digital currencies. The special report also covers central bank digital currencies (CBDCs), something making waves across the world. In addition, the report covers some of the most exciting and gamechanging Web3 startups and projects, while also reviewing various governments' adoption of blockchain and Web3, as well as the global trends in regulating this new industry. The Opportunities in Web3 report thus covers the top 10 trends in Web3 today, including how real gamers are being brought into Web3, how NFTs are becoming utility-focused, the revival of decentralized exchanges, the impact of artificial intelligence on blockchain, the increased tokenization of real-world assets, and the rise of DAOs. Many forecast that there will be 3.7 billion crypto users by 2030. It is conservatively estimated that there are over 420 million crypto users worldwide as of the beginning of 2023, meaning that there is a 4.2% global crypto ownership rate. Though it may sound like it's still in its nascent stages, the speed of crypto, blockchain, and Web3 adoption is nearly 2.5x faster than the speed at which the internet was first adopted in the 1990s. Whether it's creating non-fungible tokens (NFTs), building collections of them, developing decentralized applications (dApps), participating in decentralized asset organizations (DAOs), shaping policies, or designing protocols, we all contribute as builders to the next generation of the Web." In Web3, we are not just passive consumers, or worse, products monetized by social media companies we are active builders. ![]() 2022 is largely heralded as the year Web3 had its coming of age, where this "decentralized web" was garnering significant mainstream adoption, and truly introducing a technological paradigm shift for our global digital economy.Īs the visionary Joseph Lubin, co-founder of Ethereum and CEO of Consensys, puts it: "Web3 empowers communities with economic, social, and political agency, while enabling individuals to exercise self-sovereignty. Many of the core concepts surrounding Web3 such as decentralization, openness, and greater user utility, were introduced in the 1990s as the World Wide Web came into being, but it wasn't until the advent of blockchain technology in 2008 that Web3, as we now know it, began its formulation. ![]() This next wave of the digital revolution is all about decentralization, and moving away from the top-down command and control principles that we've largely built society on to date. It is also being described as the great new frontier in the internet landscape, where pioneers tap into their quest for freedom and autonomy, empowered by cutting-edge technology and some serious coding chops. Web3 is being hailed as "the future of the internet," and the next big technological revolution. ![]()
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