Let's Discuss About The Future Of Web3

With the world advancing daily, and the transition in the digital world taking place at a very fast when it comes to the topic of web3, which has always generated a whole lot of interest and also speculation. It is not big news that web3 has promised to give so much in the future as it will be a renowned tool that will emphasise the benefits of why the digital world should live on decentralisation.

Even though the potential it has to offer is huge as that can't be denied, even though it is going to be offering a whole lot of opportunities, there are a whole lot of challenges that still need to be settled out, and that is the reason we need to pay attention to it. There are obstacles that we must overcome.

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But before then, let me briefly talk about the evolution of the digital world from web2 to web3. Let me first of all talk about Web1. This is the first level of the Internet. Currently, the world of the internet is in web2 as this really brought a whole lot of dynamics, but even with that, it is still centralised by the giants that control the internet space, and that is where web3 comes web3 helps to achieve what I will say decentralisation as it helps to give users on the internet space the opportunity to be able to control their data and even their digital identities such as making use of the blockchain technology and also decentralised applications and even smart contracts. As I said earlier, the foundation of Web3 is in decentralisation as it helps to give control to the users involved in the space, and that is making use of blockchain technology.

There is so much that the world of decentralisation can cause and change and that is the fact that it can impact our industries and world positively. Of course, if you are reading this, you will agree with me about the positivity that the world of the DeFi platform has brought, as it has created a platform which will allow users to be able to borrow and even trade assets and tokens by eliminating some intermediaries. One of the things that I have come to discover is the fact that it can help to monetise their work easily.

Let me also touch on the aspect that Web3 can help to achieve technological advancements and scalability. The future of web3 is dependent on the technology Advancements also. Those technological advancements are needed as they can establish the amount of data and transactions, and this is what I feel is an internet space that is based on decentralisation needs and should be built on.

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The future that Web3 will offer to us which I am eager to see is the fact that it will help in the security challenges that web2 showcases and not only that I have come to discover that web3 gives this massive transparency that it deserves and there have been advanced technologies tools in the digital world which I believe web3 will apply that will help to increase the security of the space.

One of the reasons that I have learnt is the fact that the decentralised nature of web3 has some regulatory challenges, which I am also afraid of. The issue is that the government has not yet fully accepted the decentralised nature till now, and this might pose a significant risk to digital assets. this might create a whole lot of uncertainty for businesses and users, and this might threaten the adoption of web3 technologies.

Well, if we should look at it the other way around, the regulation aspect can help the Web3 future, and that is the fact that the regulation will help to actually protect the consumers and even, in the long run, sustain the financial systems. That is why regulations must help to protect users. At the end of the day, I must establish that. Trust me, one of the things I love about the Blockchain world is the fact that it gives this regulation aspect that helps to increase collaboration between regulators and stakeholders.

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Even though Web3 have a future and a great prospect, I am so sure that there will be massive adoption but even with that, it will still depend on a whole lot of factors. The major factor I fear that might want to hinder the massive adoption of Web3 in the future is the user experience. What do I mean by that? You will agree with me that the world of blockchain technology, at times, can be complex to understand for users, es even need technical knowledge to be able to interact with the dAp, ps, which I believe might be a significant threat and barrier.

The other factor that I would like to talk about is the fact that there is still a need for proper awareness of Web3 because I will say a whole lot of people right now are not yet even aware of what Web3 is talkless of how it works or how it can benefit them. There is a need to raise more awareness and even create proper education for people to see the importance of decentralised technologies as it will be crucial for massive adoption. This needs to be walked upon.

As I conclude, I will say that even though there is so much Web3 will have to offer in the future; I will say there is still a whole lot of uncertainty that surrounds it. Like I always say, the transition of moving from the generation of web2 to Web3 will not happen overnight as many of us think but it is a gradual phase which I believe will still face a whole lot of challenges all along the way if finally successful, trust me it will go a long way in creating the standard of how we should interact with the internet and it will bring us to the world of decentralised nature.