In this episode of Emerge Dynamics, we’re wrapping up our discussion about Web 3.0. You can be sure that Web 3.0 is going to be impacting business owners everywhere in a very real way, especially when it comes to creating contracts, decentralization of technology, and other digital expansions.

What is a smart contact? A smart contract sets specific parameters to account for things that might happen, and they can even anticipate the next action that needs to be taken. One example would be the popular application DocuSign. Because they are a trusted party, the experience works very well, and the evolution of this technology is expected to continue to grow.

This brings into question the process of validation. Is it better to have this validation be centralized, or decentralized? Without question, creating contracts using new technology in a decentralized way is easier to use—especially with the rising “gig economy” where many individuals are choosing contract work over traditional employment opportunities.

Moving forward, it’s important to consider how this technology could be further used to tokenize other industries, from real estate properties to buying portions of companies. This would improve the liquidity of businesses. However, documenting these transactions digitally may lead to roadblocks, especially during the initial phases.

So, why should you care about this new technology? Because in all likelihood, it will be impacting your business very soon. Anticipating disruption in the marketplace will help you get and stay ahead of the game, especially for intermediaries. Web 3.0 is on its way, and it will change business transactions in many ways.