WEB 3.0: An inevitable change

WEB 3.0= An evolutionary revolution +Web 2.0

Evaluation of Industries that can Soar up in WEB 3.0

The evaluation process is rigorous and transparent.

It would measure both project implementation and sustainable business impact. It identifies the best examples of cooperation between financial institution and their strategic IT service providers, and how these cases exemplify industry-leading innovations.

An audit-based approach in the evaluation process. This involves a comprehensive data sheet where the basic quantitative figures will be collated and compared with your peers in the industry who are unicorns but still WEB 2.0, to establish a comprehensive understanding of best practices and benchmarks that the industry can use on a generic base without compromising the confidentiality and competitive data.

Reason why WEB 2.0 Industries should shift to WEB 3.0, It would bring a unified user experience:

Reduced Costs

Greater Conveience

Speed

Faster Rate of Approval

Robo Advisors.

Efficiency

Financial, Governance, Risk Management, And Compliance Expectations.

From text- and voice-enabled payments to fraudulent alerts and credit score notifications, virtual assistants can be moved to Web 3.0 and fintech parlance of working.

Keeps users aware of changes in their finances while taking care of simple tasks like sending money or paying bills.

3. Tracking account balances, viewing available credit, and checking transactions processed can be brought to Web 3.0 It shall ensure fast processing of transactions per sec.

4. Updates and receive breakdowns of recurring monthly payments like mobile, electricity, or streaming services over Blockchain will be the transparent and unbiased way of working ensuring a good increase in income earned by the government.

5. Multi-channel fraud protection for issues like account takeover, transaction fraud, and new account verification.

6. Two-step authentication, device integrity screening, geo-location lookups, and transaction monitoring to enhance mobile banking, increase security and reduce fraud losses.

CREDIT: IBM Technologies
Faster processing under WEB 3.0 Credits: IBM
One digital ID!

WEB 3.0 will make financial markets globally more efficient, less friction and cost, more transparent and compliant”.

Source: Moody’s Analytics
Credits : TRADE LEDGER OLD WAY OF LOAN DOCUMENTATION
CREDITS: NEW WEB 3 WAY OF LOAN PROCESSING
Pic credit: prasannalohar
Fintech challenges in Web 3.0

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Chartered Accountant in the Cryptocurrency space evolving with world, Financial Tax advisory, Content writer by choice, Fin-tech, Researcher, Learner!

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CA RIDDHI JAIN

Chartered Accountant in the Cryptocurrency space evolving with world, Financial Tax advisory, Content writer by choice, Fin-tech, Researcher, Learner!