Get All Access for $5/mo

4 Key Trends in Web3 Enterprises Should Watch Out For Markets and Markets report that the global Web 3.0 market will touch USD 5.5 billion by 2030, growing at a CAGR of 44.9 per cent.

By Entrepreneur Staff

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Web3, particularly the blockchain technology, is slowly rising to become an integral part of businesses in 2024. Markets and Markets report that the global Web 3.0 market will touch USD 5.5 billion by 2030, growing at a CAGR of 44.9 per cent.

While speaking at Entrepreneur India's Tech and Innovation and W3 Summit in Bangalore on the transformative potential of Web3, industry expert Amit Mehra from venture capital firm 'Borderless' shared insights into the world of decentralized capital, where the power of Web3 is reshaping the future.

According to his estimates, Bitcoin's value is projected to rise significantly from USD 100k to USD 150k by the end of 2024. "Now I think we broke an all-time high. That was actually better than what we had anticipated," Mehra said.

Here are four trends enterprises can bet on for the future-

Decentralized Physical Infrastructure (Deepin):

Decentralized infrastructure has great transformative potential- Helium is one of the leading examples that is working in collaboration with telecommunications giants to enhance network coverage and get more community participation. Additionally, Borderless is significantly investing in companies like Render and Hive Mapper to shake up industries that heavily work on centralized systems, like animation rendering and mapping. "Three other use cases which are quite interesting. Which I feel might add value. Which a lot of people know that we are seeing. So the first one of them is Deepin. Which is Decentralized Physical Infrastructure. Now the ethos of Web3 is basically taking power away from the 1 per cent and giving it to the 99 per cent. So what happened a couple of days back Google Play Store blocked Naukri. They blocked Bharat Matrimony. All these apps. So that is the power which Centralization has. And Web3 allows you to take that power away from centralized entities. And make it decentralized. That is the whole concept of decentralization," Mehra further added.

Artificial Intelligence Integration with Web3:

Integrating AI technology with blockchain, especially in using unused GPU power for decentralized computing tasks, holds a lot of potential. Companies using AI-driven solutions such as safety measures and fractional AI labeling, show how users can be motivated to help train AI models. "NVIDIA has surpassed Facebook and Microsoft due to a supply-demand gap in GPUs needed for AI generation. The idea here is to utilize the surplus GPU power available through laptops, desktops, and data centers, rewarding users for contributing. The second stream involves training AI models, which requires labeling data. Some companies are innovating in safety and fractional AI, rewarding users for labeling data through gamification, essentially bridging the gap between AI and Web 3," Mehra emphasized.

Tokenization of Real-World Assets (RWAs):

Borderless envisages a future where we can easily convert our real-world assets like carbon credits, art, and wine into digital tokens. It will help a larger audience to buy, sell, and trade their assets. It will also open up investment opportunities for a larger section. Companies like Centrifuge and GeoNet are leading the way in using blockchain technology to tokenize assets. "By tokenizing assets, we're essentially creating liquid markets, particularly for debt products. Beyond that, we're heavily invested in companies like Centrifuge that are pioneering asset tokenization. Some of these companies are focused on tokenizing carbon credits, art, and even wine and whisky. This tokenization process makes it easier to trade these assets, ultimately facilitating the creation of liquid markets. These trends in tokenizing real-world assets, along with advancements in AI and Web3, are shaping the future of blockchain, especially within the enterprise sector."

Institutional Adoption and Market Liquidity:

Borderless expects and suggests that traditional Web2 asset managers should show more interest, especially after big events like the SEC approving the Bitcoin spot ETF paving the way for widespread participation in Bitcoin by pension funds, banks, and other financial institutions worldwide. This approval means that teachers, pension funds, and others can now easily buy and gain exposure to Bitcoin. It is a milestone that will increase mass adoption of cryptocurrency, moving users from Web2 to Web3 platforms.

"I believe the most significant moment in our lifetime, I'll tell our grandchildren about, is when the Bitcoin spot ETF was approved. This pivotal moment opened the doors for all major banks like BlackRock and Vanguard to join the Bitcoin and Web3 ecosystem. What we're witnessing now is a surge in participation from these institutions. We've already seen some instances of real estate tokenization and other asset tokenization back in 2017-18," he added.

Entrepreneur Staff

Entrepreneur Staff

Editor

For more than 30 years, Entrepreneur has set the course for success for millions of entrepreneurs and small business owners. We'll teach you the secrets of the winners and give you exactly what you need to lay the groundwork for success.
Business News

Amazon Is Thinking About Charging Extra for AI Alexa

"Hey Alexa, how much are you going to cost?"

Business News

SoftBank CEO Says AI 10x Smarter Than Humans Could Be Here in a Matter of Years

SoftBank CEO Masayoshi Son spoke to shareholders during the company's general meeting on Friday.

Business News

Amazon Is Making a Major Change to Its Packaging: 'Easier to Work With'

Opening an Amazon box is about to look a lot different.

Starting a Business

3 Essential Skills I Learned By Growing My Business From the Ground Up

Discover the most effective (and cheapest) way for founders to learn team management, efficient decision-making and other essential leadership skills.

News and Trends

PhonePe in Talks With Major Smartphone Makers for Mobiles to Come With Pre-installed Indus Appstore

PhonePe is in talks with smartphone brands to have their Indus Appstore pre-installed in the mobiles.

Side Hustle

Top Secrets to Starting a 6-Figure Etsy Side Hustle That Earns Passive Income, According to 3 People Who Did It

Etsy remains a popular ecommerce platfrom for sellers — and can be incredibly lucrative for those who know how to use it.