Web3

Blockchain technology has often been touted as a game changer for the security of transactions in different fields.

However, many organizations still don't full appreciate its value or how to incorporate it into their applications. We spoke to Lee Jacobson, senior vice president business development Web3 at video game commerce company Xsolla to find out about how blockchain implementation can be made easier.

A new enterprise-grade, native cloud storage solution aims to deliver increased speed, affordability and security thanks to its use of decentralized Web3 technology.

Impossible Cloud supports almost unlimited capacity, and its Object Storage solution offers a scalable, cost-efficient alternative for organizations that require reliable and secure storage.

It’s time to redefine what has come to be known as the metaverse -- a reimagined internet, integrating both established and new technologies (think mixed reality) -- to Web3. Though possibilities appear to be plentiful, the 'digital reality' perception of the metaverse is too far off in the horizon and not currently widely relevant.

Rather than focusing on the metaverse, then, businesses need to consider the real-life use-cases for Web3 -- including decentralization, blockchain, and token-based economics -- including crypto and non-fungible tokens (NFTs), to gauge their true value, sustainability, and future. Web3 has given us an incredible tool -- the ability to create a 'digital value economy', whereby something can have value in and of itself online, without a trusted intermediary.

Web3 platforms have surged in popularity over the years and continue to catch headlines with billion-dollar investments as well as significant downturns. According to McKinsey, despite early funding issues, adoption of Web3 applications has occurred at an exponential pace, which has led to many industry professionals questioning how safe and stable these platforms are.

Web3 platforms are designed to make content hosting more available to individuals, evade censorship, guarantee access to the published content and avoid technical problems like server management, making these platforms attractive for threat actors seeking to host malicious content.

A large majority of consumers in the UK say they have never heard of or are bored by Web3 (89 percent) and the Metaverse (84 percent), according to a new study.

Research from digital agency Studio Graphene surveyed 2,000 UK adults and finds technologies that hit the market more than a decade ago have high levels of consumer understanding and use, but this drops off sharply when looking at more recent innovations.

The virtual world of the Metaverse is already attracting people to attend virtual events and play games. It also has the potential for businesses to make money -- research from McKinsey suggests it could be a $5 trillion industry by 2030.

However businesses are still wary of the additional challenges, particularly with regard to security. New research carried out by YouGov for app security company F5 shows six out of 10 respondents say the Metaverse has introduced security complexities that their organization may not be equipped to address.