CHALLENGES AND OPPORTUNITIES IN IMPLEMENTING WEB 3.0 STRATEGIES
##plugins.themes.bootstrap3.article.main##
##plugins.themes.bootstrap3.article.sidebar##
Abstract
This article examines the problems and opportunities that organisations face in implementing a Web 3.0 strategy. It explores the decentralised and transparent characteristics of Web 3.0 technologies, including blockchain, smart contracts and decentralised apps (dApps), and their future impact on business operations. Methodology. The article applies a qualitative methodology using case studies of Fortune Global 500 companies to offer practical advice on Web 3.0 adoption, the obstacles they face and recommendations for overcoming these challenges. Results. Research shows that while the adoption of Web 3.0 offers significant promise for improving operational efficiency, transparency and customer trust, significant obstacles such as regulatory uncertainty, integration costs and technological complexity still need to be overcome. Overcoming industry-specific challenges and implementing customised solutions is crucial to the effective use of Web 3.0 technologies. Practical implications. The article offers practical solutions for businesses to effectively integrate Web 3.0 technologies, which will help increase operational efficiency, strengthen trust with consumers and open up new revenue opportunities through tokenisation and decentralised finance. Value/Originality. The article offers practical solutions for businesses to effectively integrate Web 3.0 technologies, which will help increase operational efficiency, strengthen trust with consumers and open up new revenue opportunities through tokenisation and decentralised finance.
How to Cite
##plugins.themes.bootstrap3.article.details##
Web 3.0, blockchain, decentralised finance, smart contracts, Fortune Global 500, business strategy, operational efficiency, case analysis
Fan, Y., Huang, T., Meng, Y., & Cheng, S. (2023). The current opportunities and challenges of Web 3.0. Cornell University.
Gatomatis, P., Bogonikolos, N., & Chatzichristos, I. (2022). Towards the era of Web 3.0 and the marketing 3.0. International Journal of Business &Amp; Management Studies, Vol. 03(12), p. 76–83.
Halil Efendioğlu, İ. (2023). The change of digital marketing with artificial intelligence. Proceedings of the 7th International Conference on Applied Research in Management, Economics and Accounting.
Kansal, K. (2024). Exploring the prospects and challenges of artificial intelligence in shaping the future of Web 3.0. International Journal for Research in Applied Science and Engineering Technology, Vol. 12(3), p. 1048–1053.
Krishen, A S., Dwivedi, Y K., Bindu, N., & Kumar, K S. (2021). A broad overview of interactive digital marketing: A bibliometric network analysis. Elsevier BV, Vol. 131, p. 183–195.
Kumar, S. D., Rani, N., & Upadhyay, P. (2022). Towards blockchain led decentralized autonomous organization (DAO) business model innovations. Benchmarking: An International Journal, Vol. 30(2), p. 475–502.
Mohammed, A., Potdar, V., & Quaddus, M. (2023). Exploring factors and impact of blockchain technology in the food supply chains: an exploratory study. Foods, Vol. 12(10), p. 2052.
Taherdoost, H. and Madanchian, M. (2023). Blockchain-based new business models: a systematic review. Electronics, Vol. 12(6), p. 1479.
Wan, S., Hong, L., Gan, W., Chen, J., & Yu, P S. (2023). Web3: The Next Internet Revolution. Cornell University.
Apple. (2024). Available at: https://www.apple.com
Fortune. (2024). Available at: https://fortune.com/
Meta Platforms, Inc. (2024). Available at: https://investor.fb.com
Microsoft. (2024). Available at: https://www.microsoft.com
Nike, Inc. (2024). Available at: https://investors.nike.com
Starbucks. (2024). Available at: https://www.starbucks.com
Visa Inc. (2024). Available at: https://www.visa.com
This work is licensed under a Creative Commons Attribution 4.0 International License.