ThinkTWENTY20

According to Market Research Future, the value of the Web3 blockchain technology sector will exceed $6 trillion in 2023, and from 2023 to 2030, Web3 will expand at a CAGR of 44.6%.

It’s seems clear where Blockchain is on the hype cycle. We already went through the initial hype. Then for many, the collapse of cyber currencies this year has brought on a trough of disillusionment. However, after that we have in the Gartner Hype Cycle a period of enlightenment, which may be represented by the Web3 phenomenon as well as a host of other emerging applications of Blockchain. Finally, the new technology settles into a period of productivity, when the usefulness of it is established and it is used in a growing and vibrant new field. This also seems to be where Web3 is taking us.

The latest Newsletter from the Blockchain Council, available on linkedin, sets out the future of Web3 in more detail.