Interoperability: Our exciting and terrifying Web3 future

Andrew Park, Matthew Wilson, Karen Robson, Dionysios Demetis and Jan Kietzmann

Business Horizons, 2023, vol. 66, issue 4, 529-541

Abstract: This article introduces the next major generational evolution of the web: Web3. We review the fundamental evolution of the internet and the web over the past 3 decades, including a brief presentation of the publications in Business Horizons that are important in a discussion of the emergence of Web3. We then discuss what these recent developments mean to organizations, consumers, and the public. Though the degree to which Web3 will be widely adopted is uncertain, these technologies are already creating both exhilarating and terrifying implications for e-commerce, digital media, online social networking, online marketplaces, search engines, supply chain management, and finance, among others. We propose the consideration and management of technical, organizational, and regulatory interoperability for Web3 to deliver on its promises of value and that failure to consider these interoperability components may destroy economic value, consumer confidence, or social issues online. We also call on our fellow researchers to focus on these interoperability issues and how they might impact the positive and negative sides of Web3 technologies to help us understand and shape our Web3 future.

Keywords: Web3; Blockchain technology; Metaverse; DeFi; Cryptocurrencies (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:bushor:v:66:y:2023:i:4:p:529-541

DOI: 10.1016/j.bushor.2022.10.005

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