Web3 has the potential to drive an equitable and decentralized internet. It can also drive exponential business models and unlock new revenue streams for enterprises. While Web3 is gaining adoption and scaling in enterprises, its productization at scale has several barriers. Many enterprises view Web3 as a nuance they must come to terms with, while others view it as innovative and disruptive. Layer-1 blockchains consider it a solution to everything in the world and the media considers it a hype of a lifetime.
There is some hype and truth in each perception. Observed reality indicates that enterprise-grade productization has been hard with rudimentary use cases being experimented with and pure Web3 protocols and companies failing to understand the enterprise rhythm. The bottlenecks are attributed more to issues with Web3 which have not made it easy to drive adoption and many have taken the view that Web3 will rip and replace Web2 — a fallacy.