Sarah Giannelli

Web3 introduces a revolutionary digital model designed to return control of data and interactions to users through decentralized technologies like blockchain and smart contracts. These tools guarantee transparency, security, and automation, eliminating intermediaries and creating a more equitable, user-centric Internet.

The global blockchain market, valued at $10 billion in 2022, is projected to reach $163 billion by 2029, with an annual growth rate of 56.3%. This surge highlights the rising interest in Web3, fueled by sectors like decentralized finance (DeFi), NFTs, and the metaverse, alongside a growing demand for secure and transparent solutions compared to the traditional web.

This evolution is not just technological, it marks a cultural shift as businesses and institutions recognize Web3 as a key to innovation and competitive advantage in the digital future.

The 2024 U.S. elections are also shining a spotlight on the world of cryptocurrencies, particularly Bitcoin, which has increasingly been recognized as an institutional asset. With debates on regulations and digital innovation taking center stage in the political agenda, there is a growing consensus on the importance of Web3 as a cornerstone of digital transformation. This is not just about decentralized finance but an entire technological infrastructure poised to redefine the management of data, contracts, and global transactions.

Why Web 3 is relevant for business

Web3 combines innovations like blockchain, smart contracts, IoT, and artificial intelligence, unlocking new opportunities for businesses. Industries such as retail, logistics, and finance are already leveraging these technologies to enhance transparency, operational efficiency, and data management. For example, immersive virtual reality experiences are transforming customer interactions, while 5G networks facilitate seamless communication between devices.

Adopting Web3 empowers businesses to stay competitive, addressing market demands more effectively and ensuring resilience in a rapidly changing digital landscape. Companies that embrace this transition today will set themselves apart as tomorrow’s digital leaders.

How Trakti Helps Companies Bridge Their Systems to Web3

Trakti is a unified smart contract platform built on blockchain technology, offering essential tools for businesses transitioning to the Web3 ecosystem. Its user-friendly interface and contract automation capabilities simplify workflows, reducing manual intervention and errors.

With Trakti, companies can improve transparency and security in their operations. The platform enables the creation and management of tamper-proof smart contracts that automatically enforce agreements, reducing disputes and speeding up execution.

As the Web3 ecosystem evolves, early adopters of blockchain and smart contracts will have a competitive edge. Trakti bridges traditional business practices and the decentralized Web3 environment, enhancing efficiency and enabling businesses to better serve their customers.

Web3’s Future for Businesses

Adopting Web3 technologies is one of the most critical challenges for businesses seeking to stay ahead. While the European Union investigates regulatory measures for these innovations, it’s vital to move past skepticism and embrace the opportunities offered by digitalization through blockchain and smart contracts. These tools not only boost efficiency but also prepare businesses for a global market that increasingly values transparency and control.

Companies integrating Web3 today are positioning themselves as future leaders, gaining an edge over those hesitant to evolve. Ignoring this transformation risks falling behind in an economy increasingly dominated by decentralized technologies.

Web3 is not a passing trend, it’s a structural shift in how we manage data, contracts, and digital relationships. Platforms like Trakti provide practical solutions to navigate this transition, turning perceived risks into tangible benefits. Embracing Web3 is not just innovation; it’s the strategy for thriving and leading in the digital era.

To dive deeper into the power of smart contracts, explore our white paper on creating flexible and efficient solutions.

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Business is going digital and digitisation has spread throughout all areas of private law, including inheritance law. “Digital inheritance” is a term in law, and refers to the transfer of rights to digital assets.
A Digital asset can be defined as a personal property owned by an individual which is stored in a digital form, therefore any digital data that a person leaves, after his death, stored on diverse types of digital devices and in the cloud. This includes a multitude of digital formats and their respective metadata: from your online accounts, including banking information, to social media passwords.

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The no-code movement is a trend that can also offer a lot of potential benefits for the legal and administration sectors.
According to Gartner, no-code and low-code application development will be responsible for more than 65% of application development activity by 2024.
No-code platforms can revolutionise the way legaltech approaches its internal innovation and automation of key tasks.
No-code tools and technologies can help lawyers to efficiently drive their business.
This is certainly a challenge with regards to user experience, as no code applications transform and simplify the way we can all interact with the interface of an app or software.

Reading time: 3 min

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