Ben Aizik and Ryan Klooger: Will Web3 have a Significant Impact on the Future of E-commerce?
As co-directors of RB Commerce, Benjamin Aizik and Ryan Klooger have been involved in the WEB 3. They believe that cryptocurrency and WEB 3 is the future of e-commerce.
So, what is Web 3.0?
Web 3.0, the next stage in the evolution of the internet, promises a decentralized, permissionless, and open-source alternative, transforming the computers, data storage, and peer-to-peer interactions.
For starters, it will remove freeloading third parties, restore individual data ownership and allow users to sell it as a product.
Second, Web 3.0 will empower fractionalized and mutual digital property ownership, assets, organizations, and anything in-between, ushering in a trustless global macroeconomy where people can collaborate toward common goals.
Third, Benjamin Aizik and Ryan Klooger view tomorrow’s ownerless businesses and organizations more robust. Each stakeholder acts as a partial owner.
Ecommerce’s Outlandish Future
Do you believe you control the content you upload on Facebook, Instagram, or Tiktok?
To be clear, this is how it used to work, but there are now alternatives. Continue reading if you don’t trust the way the internet works nowadays and feel The Social Dilemma is correct. There is another option: Web3.
Everyone seems to be talking about the so-called Web3. But, as was the case with the Multiverse, the entire concept of what the Web3 is is widely misunderstood. And in this situation, understanding what Web3 is and how it will radically disrupt the laws of the internet as we know it is critical. Particularly for e-commerce.
One of the key foundations of Web3 is to create a significantly more secure, faster, and efficient ecosystem to provide worldwide e-commerce without the current security or currency conversion issues.
So, All in all, Benjamin Aizik and Ryan Klooger describe Web3’s capabilities as having the potential to deliver long-term and efficient answers to many of the present Internet e-commerce difficulties.
What impact will Web3 have on e-commerce?
To cut a long story short, at all levels. To be more specific, it will have an influence on e-commerce in the following areas:
- Online marketing and SEO ranking
- Security and Payments
- Logistics and accessibility
Let’s explore some of the potential changes that Web3 may bring to e-commerce.
Web3-based Ecommerce will be driven by Ethereum and other tokens
The Web3 will have a base architecture native to the crypto world. In fact, it is based on Ethereum, a cryptocurrency — and all payments made within the Web3 environment will generate tokens that can later be used to buy physical items: food, clothing, and anything else that e-commerce can sell and deliver, which nowadays is pretty much everything legal.
Furthermore, if the transaction is completed with Ethereum tokens, it will be native to the blockchain technology that underpins Web3. It implies there’s no reason why it shouldn’t be immediate and completely safe without the requirement for a banking institution to check and certify the monetary exchange.
Tokens can and will undoubtedly be “self-generated” by the system. It is programable, allowing Ethereum to establish incentives for programmers or developers — anyone assisting in maintaining the ledger accountability system or data systems — connected with Web3 to get a token in exchange for their work.
In a Multiverse future, these tokens might quickly become the first and most efficient payment method.
Web3 will alter the way e-commerce businesses operate
As everything will be properly accounted for online at the same time in various records — the blockchain technology — Benjamin Aizik and Ryan Klooger believe that it will be possible to work any industry inside the Web3 — including those that require physical operations — remotely.
Drone factories and even drone farms will be significantly less vulnerable to cyberattacks or hacking. And with these skills and added security, the ability to build a drone factory anywhere in the world and then operate that factory from anywhere else will undoubtedly transform the way industries are created.
For example, countries that support industry may receive many drone factories. However, those enterprises’ headquarters and fiscal addresses may be located in other countries.
Working remotely is the only reasonable way to operate within a Web3 environment because the benefits of remote work outweigh the operating costs of having physical workstations.
Finally, it becomes certain that the implementation of Web3 — which is expected to begin in 2022 — is the first step toward a sustainable everlasting online environment, the Metaverse’s last stage. And thus far, several businesses have pledged to promote and deploy Web3. There is a clear alliance against companies viewed as the internet’s “guard dogs”: Google, Bing, Microsoft, and the other present internet behemoths.
Regardless of how much support it receives, Web3 will take time to deploy completely. Even if certain test environments can be seen as early as 2022, the entire deployment of a robust huge Web3 environment would most likely take more than three years.
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