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Aug 24, 2022

Web3: Trends, Challenges, and Future

The Web3 space is such a complex environment with increasing barriers to entry. Thankfully platforms like Curios are actively alleviating barriers for users and creators to enter the space.

Most important trends in Web3, crypto, and finance right now:

The most important trends in Web3 are centered around ownership. This is where NFTs and decentralization really shine - the most powerful utility of NFTs is the ability to publicly and immutably prove ownership of anything. This means that we get to reimagine ownership of things such as digital art, equity ownership in companies, copyrights, real estate, car titles, among many many other things. Ownership of high value assets are usually tied to archaic paper trails at government entities as means of proof. These archaic methods are subject to falsification, are error prone, extremely onerous to change and lack the proof and transparency that Web3 technologies offer. NFTs are a technological solution that will bring vast improvements to tracking ownership of all things. 

Biggest challenges and opportunities in the industry:

The biggest challenges for Web3 are the technical barriers. Only approximately 1% of the human race has a crypto wallet and knows how to use it properly, this is the "Web3 one percent". The space is riddled with terminology and confusing steps required for entry, with crypto wallets being one of many hurdles. 

At Curios, we're building easy-to-use tools and apps that make Web3 accessible to anyone, without any knowledge of crypto or blockchains. Tools such as fiat payment rails, custody wallets, and easy NFT deployment tools  abstract the complexities away for your everyday user, and empower them to participate in decentralized ecosystems.

Future of crypto, tech, and finance:

Blockchain and cryptocurrencies are here to stay, as is evident from the large number of policies being drafted by politicians. These technologies will ultimately become regulated, which is a good thing because it sets the guidelines for governments to interact with decentralized ecosystems. Most decentralization purists are anti-regulation, but regulations will improve infrastructure, consumer confidence and ultimately drive adoption to the technologies. 

Another future of these technologies is interoperability. Right now, each blockchain or marketplace or metaverse is its own "walled garden". But in the future, technologies will exist to move and control assets across each space - this is absolutely critical. Curios is working on driving this movement forward, we call it "Open Meta™".