From Revolution to Real-World Value: How Companies Can Benefit from Web3 in 2024

Web3 is not dead, but it is different. The grand metaverse dream may have faded, but beneath the disillusionment a quieter, more purposeful shift is underway: stablecoins now top $130 billion in global circulation, blockchain is tracking diamonds, carbon credits and airplane parts across complex supply chains, and Citi estimates that $5 trillion in central bank digital currencies could be circulating by 2030.

This Fortune piece argues that companies need to update their thinking about Web3 in three fundamental ways: treating it as an accelerator of existing capabilities rather than a replacement for them, focusing only on specific use cases where it genuinely adds value beyond Web2, and shifting ecosystem strategies away from dominance toward networked partnerships. The era of revolutionary ideology is over; the era of real-world value is just beginning.

Read here.

Authors: François Candelon, Michael G. Jacobides, Urs Rahne, and Katie Round