14 lines
1.8 KiB
JSON
14 lines
1.8 KiB
JSON
{
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"HubID": "2177",
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"Date": "3/16/2023",
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"HubTags": [
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"External Platform Posts"
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],
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"Contacts": "",
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"Companies": "",
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"File": "",
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"Image": "",
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"Summary": "Some thoughts on the future time period when #consumerbrands should deploy #web3.",
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"Notes": "<p>Some thoughts on the future time period when #consumerbrands should deploy #web3. </p><p>For most brands, web3 is still too early with immature technology and low consumer uptake. While there's a ton of stuff to track in web3, I've really stripped my watchlist down to three key things that really have to happen before brands deploy web3 for their customers.<br /></p><p>1. Improve web3 wallet UX and UI for consumers. This is now possible with account abstraction on Ethereum (released March 2023), so look for web3 wallets to start incorporating this standard. </p><p>2. Synthetically remove cryptocurrency from the equation for consumers to reduce complexity in them dealing with cryptocurrency. This is now possible with account abstraction (released March 2023), so look for web3 wallets to start in incorporating this standard. But it won’t help consumer brands, who will have to be the ones to manage the cryptocurrency transactions for consumers on the back end. Some are already doing this. </p><p>3. Falling #blockchain costs. It is still way to expensive on the ETH and MATIC blockchains (recommended and preferred by consumer brands), but infrastructure improvements should see costs on the ETH L2 blockchains (like MATIC) drop tens to hundreds from where they are now, which hopefully will get costs to ~ one hundredths of a cent for a blockchain transaction, which is about the cost to send an email. </p><p>If we start to see these improvements filter in by 2024, I would tentatively recommend that brands deploy web3 on or after second half 2024. </p>"
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}
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