How to improve your Web2 business with blockchain

The private sector is only scratching the surface of blockchain technology’s transformative potential. Traditional businesses need to start adapting to Web3 or risk getting left behind.

The new internet has arrived

Web3 isn’t just a buzzword — it’s a radical new paradigm where everyday people can not only experience and contribute to the digital world, but also directly and securely own part of it. Beyond Web3 native startups, this technology offers a range of benefits to Web2 companies that can help ensure their continued relevance.

While many major Web2 corporations are already exploring how to best integrate the blockchain, it remains early days for private sector Web3 adoption. With less hype and more serious building, the bear market is the perfect time for companies to implement Web3 features that level up their customer relations, security and trust between stakeholders.

Keep things simple

Web2 companies should look for specialized blockchain solutions that can improve their business in tangible ways. Throughout this process, it’s important to focus on accessibility and avoid any unnecessary complexity for end users.

Web3 technology can be a valuable part of your tech stack without necessarily being visible to your customers or requiring blockchain experience. For example, the Starbucks Odyssey experience utilizes on-chain collectibles but allows users to purchase ‘stamps’ within the Starbucks web app with just a credit card and no previous crypto knowledge required.

To streamline the onboarding process for Web3-powered products, traditional businesses should also understand the concept of account abstraction. By customizing how individuals interact with the blockchain, account abstraction means that companies can offer an improved customer experience. One potential use case is paying transaction fees on behalf of users so they can quickly and seamlessly start performing actions on chain.

Run an efficient operation

Additionally, it’s important to keep your business’s internal processes straightforward and accessible when transitioning to Web3. It can be worthwhile to have your own in-house blockchain specialists, but you should also consider specialized Web3 contractors or white-label service providers to help reach your goals.

Go to Source to See Full Article
Author: Wolfgang Rückerl

Did you like this?
Tip BTC Newswire with Cryptocurrency