Web3.0 will replace many technology structures: CertifiedTrue-CEO

 

Web 3.0 is gaining momentum in the business world and many expect it to revolutionize numerous technologies.

CertifiedTrue CEO Stephen Graves believes that blockchain technology will revolutionize numerous technologies in the coming years. CertifiedTrue is a software-as-a-service that provides a secure method to immutably bind the time, place, and ownership of data at its origin.

In a recent interview, Graves explained that despite the hype surrounding Web3.0, there is still a long way to go before companies adopt it:

“So there is a lot of excitement and investment in the push for Web3 technologies (decentralized, blockchain). At the same time, many enterprise and business applications are still struggling to fully integrate, even Web 2.5 (cloud). Certain industries that depend on information processing systems, such as legal, insurance and real estate, are still astonishingly paper consuming and have legacy human processes beyond technical integration where it can be difficult to advocate for real change.”

Graves explained that real growth would come from merging Web 3.0 with Web 2.5, rather than replacing it. He provided an example of how his company used both to develop its photo verification app. Graves explained:

"When we started building our own blockchain platform in 2018 to support our main photo verification application, we finally realized that to escape the 'Zamfir Triangle' of scalability, security and decentralization, we needed a hybrid system with Cloud and would need to create blockchain technologies. We end up having the best of both worlds and I suspect that's where the real action will be over the next 5 years.”

CertifiedTrue's CEO isn't a fan of non-fungible tokens (NFTs), adding that he believes they won't last in the long run. He said:

“The current state of NFTs is a bubble that will eventually crash to earth. I mean how much do Crypto Kitties want now? But as with previous technology waves like blockchain, cloud and e-commerce, I believe the true value of NFTs lies in the underlying technology applied to real-world problems, and that value should only grow over time.”

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