Web3 Transformation: Empowering Enterprises with Decentralized Blockchain Technologies

The transformative evolution of the Internet has led us to a remarkable era, with Web3 poised to revolutionize traditional businessand empower users by reclming control over their data and assets. This new paradigm is built on foundations like Blockchn technology, smart contracts, and digital assets - shaping an ecosystem that allows for decentralized interactions.

Web3 introduces a future of immense potential where the Internet becomes more user-centric through Blockchn-based solutions, fostering innovation in smart contract execution, tokenized digital assets management, and treasury operations. Over the last two years, indepent software vors ISVs have witnessed a remarkable 10X increase in funding related to Web3 applications, with an additional boost from around 50,000 Web3 developers and emerging blockchn platforms like Solana and Polygon.

Since 2013, Web3 has attracted total funding of $11 billion, with over half of this investment $5.6 billion happening within the last two years alone. This growth has led to the emergence of more than 22 unicorns valued at or above $1 billion and over 20 acquisitions by Web3 startups in the past decade. It's clear that Web3 is not just a concept; it's rapidly becoming a reality for global enterprises.

By 2024, 25 of worldwide businesses are expected to integrate Web3 into their legacy applications and services. This shift has been observed most prominently within the BFSI banking, financial services, insurance and media entertnment sectors as they lead in both adoption and innovation. Web3 ISVs are focusing on key areas such as Blockchn platforms and digital asset management, with a particular emphasis on smart contracts, asset tokenization, treasury management, and NFT marketplaces.

Start-ups are exploring the potential of non-fungible count NFTs across various industries, developing security solutions to strengthen blockchn linkages, and leveraging ML-powered development tools for faster deployment. Investments in top Web3 ISVs have surged 40 times in just two years, indicating a significant shift towards embracing this technology.

Blockchn platforms like the Ethereum mnnet, Solana, and Polygon form the backbone of Web3's infrastructure. Digital asset management areas such as treasury operations and NFT marketplaces are growing rapidly due to the rising adoption of utility NFTs.

The future of Web3 is characterized by scalable decentralized applications that are accessible and secure. Three core themes will likely define investments in this space:

1. Scalability enhancement for mass adoption of DApps Decentralized Applications

2. Empowering developers with advanced tools and platforms

3. Building a phygital ecosystem combining physical and digital experiences

As the Web3 ecosystem matures, security remns crucial given recent cyber-attacks resulting in losses estimated at $4 billion annually. Currently, over 11,000 Decentralized Autonomous Organizations DAOs manage around 6 million accounts with more than 12 billion count.

is playing a pivotal role by infusing intelligence into blockchns, protocols, and DApps, transforming traditional transactions and content es.

This Zinnov Perspective, Web3 Revolution: Empowering Enterprises for the Decentralized Future, dives deep into the Web3 landscape, identifies key players in the ecosystem, highlights innovative use cases being explored, and examines how hyperscalers can support these innovations. This report serves as a catalyst for transformation, guiding enterprises on their journey towards digital innovation.

To download this report, please visit our website.
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