Introduction
Web 3.0 promises to decentralize the internet and return power to users, but reality shows a fragmented, speculative ecosystem with limited adoption outside crypto circles. After analyzing real Web3 projects and observing their practical challenges, we share an honest perspective on where we really are in this supposed decentralized internet revolution.
Market Analysis
Based on sector data and our observation of Web3 projects, the current landscape reveals a significant gap between vision and practical execution:
Real Adoption vs. Media Hype
While Twitter and Discord buzz with Web3 enthusiasm, mainstream adoption faces fundamental barriers. In our analysis we observed that:
- Less than 5% of internet users have interacted with real Web3 applications
- Technical complexity (wallets, gas fees, private keys) drives away normal users
- Speculation dominates over genuine use cases
- Scalability problems make many applications unviable
Market Players
Established platforms like Ethereum and Polygon struggle with high fees and congestion. Their challenge: scale without compromising decentralization.
New chains like Solana and Avalanche promise speed sacrificing decentralization. The blockchain trilemma remains unsolved convincingly.
Key Opportunities
We identify three areas where Web3 can provide real value beyond speculation:
1. Sovereign Digital Identity
The context: Digital privacy is increasingly valued. Decentralized identity solutions allow real control over personal data without depending on Big Tech.
Why it may work: Real problem, technically viable solution, favorable regulations emerging (eIDAS 2.0 in EU).
2. Micropayments and International Remittances
The real problem: International transfers remain expensive and slow. Web3 can reduce costs from 7% to 0.5% and time from days to minutes.
Viable model: Stablecoins in specific corridors where traditional banking is weak or expensive.
3. Verifiable Digital Ownership
Key observation: Beyond speculative NFTs, digital ownership of real assets (titles, certificates, licenses) has clear business value.
Example: Universities issuing verifiable degrees on blockchain, eliminating academic fraud. ROI in reduced verification costs.
Implementation
Common Mistakes We Observe
Decentralization by ideology, not utility: Many projects prioritize extreme decentralization sacrificing usability and efficiency.
Ignoring user experience: If you need a 20-minute tutorial to use your dApp, you have already lost 95% of potential users.
Tokenomics before product: Designing the token before validating someone wants to use your application is a recipe for failure.
Our Approach with Web3
In our explorations with Web3 technologies, we adopt a pragmatic approach:
- Progressive centralization: Start semi-centralized, decentralize gradually
- UX first: If the user notices it is blockchain, we have failed
- Specific use cases: Solve real problems, not seek applications for the technology
- Interoperability with Web2: Bridges, not walls with existing systems
- Economic sustainability: Real business models, not dependence on speculative tokens
Current status: Researching digital identity solutions for specific enterprise use cases. We prioritize regulatory compliance over decentralized purity.
Conclusions
After analyzing the Web3 ecosystem, our conclusion is sober: decentralization has value in specific cases, but Web3 will not replace Web2, it will selectively complement it.
What will work:
- Hybrid solutions combining the best of both worlds
- Use cases where decentralization solves real problems
- Enterprise applications with clear ROI in efficiency or security
- Invisible infrastructure that improves existing experiences
- Projects with sustainable business models without tokens
What probably will not work:
- «Decentralized versions» of applications that work well centralized
- Projects requiring normal users to manage private keys
- Applications whose only value is «it is decentralized»
- Models depending on infinite token appreciation
- Solutions that ignore existing regulations
For us, this means exploring Web3 with constructive skepticism, looking for that 10% of cases where decentralization provides real value. The Web3 revolution will be more selective evolution than total replacement.
