FAQs related to Why is Web3 Not Mainstream By Now?

1. How long will it take for Web3 to become mainstream globally?

As per Dan Hughes, a UK-based cryptographer and Web3 startup founder, Web3 will take 3-7 years to become mainstream globally.

2. How long will it take for Web3 to become mainstream in India?

Although a Forbes article states that India can lead the world in the Web3 revolution, it will take around a decade for Web3 to become mainstream in India, keeping in consideration that India is today the most populated country in the whole world, and a huge portion of the people are not technically literate.

3. How much significantly will Web3 change my digital life?

Although Web3 user interfaces can be trickier to get used to, Web3 will give everyone more ownership over their content than ever before due to its decentralized model which curbs tech giants’ control over user data.

4. What is the global economic worth of Web3?

The global economic worth of Web3 was USD 2.25 billion in 2023 as per Grand View Research, and is projected to rise more in the future with accelerated developments and innovation, with an estimated compounded annual growth rate of 49.3% per year from 2024 to 2030.

Web3 is the most advanced version of the World Wide Web in existence and has a lot of hype and potential usefulness globally. It is acclaimed to be the next big revolution in the history of technology, a game-changing milestone that will change the lives of billions around the globe. Unfortunately, Web3 is not used mainstream on a large scale even today, although it’s been a whole decade since this term gained recognition & traction in mainstream media. This article will explore the key challenges behind why Web3 is still not used by around 76% of the global population, in today’s era.