Looking ahead into Web 3.0
The web has rapidly evolved in the past three decades. From the early days of web, where internet was
primarily used for sharing text information to today’s Web 3.0 which enables individuals to share and
interact via audio, video, and images, the web has come a long way.
Web 3.0, also known as Web3 is the upcoming 3rd generation of web evolution where apps and websites
will be able to process information through advanced technologies such as big data, machine learning,
and decentralized ledger technology. The ultimate goal of this technology is to create more
intelligent, user-friendly, connected, and open websites. Web 3.0 is based on blockchain technology
that combines concepts such as token-based economies and decentralization. Though still in the early
development stage, web 3.0 is rapidly gaining traction with the rising popularity of cryptocurrencies
and blockchain systems.
Web 3.0 is an advanced version of 1.0 and 2.0 with enhanced data security, privacy, and more
human-like interaction. One of the key advantages of web 3.0 technology is that the end users can take
full ownership of the data and can choose which information they want to share with other
businesses.
The global Web 3.0 market is expected to reach USD 81.5 billion in 2030 and register a robust revenue
CAGR of 43.7% during the forecast period. Factors such as rapid advancements in blockchain
technologies, high demand for web 3.0 services across various sectors including BFSI, e-commerce &
retail, media & entertainment, IT & telecom along with healthcare.
However, lack of well-developed infrastructure for deploying web 3.0 technology, dearth of IT
expertise, rising concerns of data security etc., are a cause for big concern.
We at Ideal Tech Labs believe that Web3 will continue to play a key role in enabling innovative
change by creating faster, safer, and more convenient solutions for all. We would be focusing our
operations on Web3 based technologies to purely create and offer digital options to solve the rapidly
changing landscape. Our main focus with regards to Web3 technologies will be on AI, ML, Decentralized
Technology (Blockchain, Smart Contracts), Big Data etc. Industries we could like to make an impact
with our products / services include Retail, Logistics, Healthcare, Banking & Finance. Businesses
– both traditional and new, will open the gates for Blockchain and the capabilities the technology
brings alongside. The world will see our apps getting a Blockchain upgrade, where everything will be
made transparent and open to access for all. Businesses will also have to look into new ways to
conduct their business in an era where everything from banking to data will be open and
transparent.
We feel that small businesses will be the most to gain in the whole Web 3.0 scenario, ITL’s expansion
of its US based operations will ensure that we will be there alongside your businesses for a smooth
transition during this phase.