Over the past few decades, the internet has undergone significant changes, from static web pages to interactive content and social media platforms. In the context of an emerging era, IT companies are paying close attention to the emergence of this new era and exploring the possibilities and opportunities that it presents.

Between January 30 – Feb 10, 2023, TechBehemoths conducted a survey among 988 IT companies across 35 countries to find out how IT companies see both the Web3 concept and its adoption on a larger scale.

Key Takeaways:

• Only 64.2% of IT companies know what Decentralization means
• Social Media is still the main Web2 feature IT companies use
• 24.5% of IT Companies already adopted decentralized technologies in their service and product offering
• 26.5% of IT companies already face issues related to Web3 (both in implementation and competition)
• It may take up to 5 years until Web3 is massively adopted across the web, IT companies say
• ChatGPT, LinkedIn, and Asana – the tools IT companies are most excited to use in 2023.

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Who would benefit the most from Web3 mass adoption?

According to the survey results, all internet users and large enterprises and corporations will be the ones to benefit from Web3 mass adoption.

• 54% think that all internet users
• 48% voted for Enterprises and Corporations
• 34.7% picked Small Businesses
• 28.1% consider artists as the main beneficiaries of Web3

How Web3 Will Impact Traditional Institutions?

Tech Leaders have different opinions on how Web3 will impact centralized institutions, especially considering that Web3 to some extent means decentralization.

Walter Steelman, the CEO of 11 Marketing+Design told that “To date, it (Web3) appears to be a dream that is just beyond our reach.”
On the same note, Jeane Sumner, WebsiteHQ CEO comes with the following idea – While Web3 is still in its early stages of development and adoption it’s easy to imagine if it will have the potential to disrupt these more traditional institutions because of more transparency and accountability.

In contrast Leticia Mendonca, Pengreen Design Founder stated the following: It’s a threat for them (centralized institutions) because they lose control of the people, and I would include banks there too, the ones that fear the most. They are already rushing to have web3 incorporated into their process, but it’s not decentralized. An example is Ripple, part of web3 but still a centralized ecosystem.

TechBehemoths is a German made platform that connects projects with reputable IT service providers from all over the world.

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