Web3 and Decentralization: A 2023 Review

Web3 and Decentralization: A 2023 Review

Web3.0, seen as the future of the digital landscape, is expected to shape 2024 based on developments in 2023. The year witnessed regulatory strides, moving from skepticism to frameworks, and clarity in the crypto and blockchain space. In terms of investments, Web3.0 attracted $549 million in September 2023, with a total of 118 deals. Notably, Web3.0 startups secured $1.8 billion in Q2 2023, compared to $7.5 billion in 2022. Despite the bear market, India remained active in Web3.0, with a focus on transparency and regulatory compliance.

In terms of smart contracts, major blockchains experienced varying growth in Q2 2023. The Web3.0 industry in India engaged with the government to address regulatory concerns. According to Alchemy, Web3.0 startups securing funding in 2023 included 26% in decentralized finance (DeFi), 25% in developer tooling, and 16% in account abstraction. The Web3.0 gaming sector saw substantial growth, with investments exceeding $800 million in Q3 2023, and a predicted global revenue of $29 billion in 2024.

Looking ahead, global revenue from Web3.0 is anticipated to reach $5.5 billion by 2030, with a compound annual growth rate (CAGR) of 44.9% for 2023-30. The industry hopes for continued government support and measures to protect consumers in the Web3.0 space, emphasizing the need for awareness of potential risks associated with Virtual Digital Assets (VDAs).

Tags

Related Posts

View All
Beware! Top Oxford Professor Is Warning You Against Sharing Personal Info With AI Chatbots

Beware! Top Oxford Professor Is Warning You Against Sharing Personal Info With AI Chatbots

2023 has been the year of generative AI chatbots and the Large Language Models (LLMs) behind them. These models have been growing exponentially, and some AI experts are worried that this could be dangerous for humanity. They argue that things shouldn’t be progressing at this rate, especially without supervision. That said, experts have voiced their […]

Dec 29, 2023 3 Mins read
ChatGPT will get video-creation powers in a future version – and the internet isn’t ready for it

ChatGPT will get video-creation powers in a future version – and the internet isn’t ready for it

The web’s video misinformation problem is set to get a lot worse before it gets better, with OpenAI CEO Sam Altman going on the record to say that video-creation capabilities are coming to ChatGPT within the next year or two. Speaking to Bill Gates on the Unconfuse Me podcast (via Tom’s Guide), Altman pointed to […]

Jan 17, 2024 3 Mins read
Crafting your low-code-powered roadmap for digital transformation

Crafting your low-code-powered roadmap for digital transformation

India’s digital landscape is undergoing a profound transformation, mirroring the global shift towards digitization and technological advancement. Businesses across sectors, from established enterprises to government departments and startups, are recognizing the imperative of digital transformation to not just survive but thrive in today’s competitive market. A report by IDC sheds light on this trend, revealing […]

Apr 22, 2024 3 Mins read
Social media X is back online after hour-long global outage.

Social media X is back online after hour-long global outage.

Social media platform X suffered an outage for over one hour on Thursday, with users complaining that they could not access posts on the platform. The services were back and posts became visible after sometime, but some users were unable to see several of their recent posts on the platform. According to Downdetector, complaints started […]

Dec 28, 2023 3 Mins read
Blockchain’s Role in Building Trust in AI

Blockchain’s Role in Building Trust in AI

AI (Artificial Intelligence) has been progressing at a steady rate, but it has come under fire for the lack of transparency behind its programming. In the past few years, however, we’ve seen a wave of AI-powered services that are transparent and verifiable, meaning that users can trust that they are getting what they want. There […]

Apr 24, 2024 3 Mins read
Luma AI’s Dream Machine: A Game-Changer in AI Video Generation

Luma AI’s Dream Machine: A Game-Changer in AI Video Generation

Luma AI has introduced a groundbreaking AI-powered tool called Dream Machine, revolutionizing the way videos are generated from text and image prompts. This innovative technology enables users to create high-quality, realistic videos by simply typing a description or uploading an image. Dream Machine stands out in the rapidly evolving AI video generation market by offering […]

Jun 19, 2024 3 Mins read
Responsible AI: Three tools to help businesses

Responsible AI: Three tools to help businesses

Artificial Intelligence (AI) is one of the most powerful tools developed in recent decades. And, as the saying goes, with great power comes great responsibility. This power raises concerns about bias and the spread of misinformation through AI-generated content. For businesses, those are just some of the risks they need to address when using AI products. Businesses that fail […]

Mar 29, 2024 3 Mins read
Widening disparities, growing threats cloud global cybersecurity outlook.

Widening disparities, growing threats cloud global cybersecurity outlook.

An average of eight in ten top business executives globally feel more or as exposed to cybercrime than they did last year, a new survey showed on Thursday. The World Economic Forum’s Global Cybersecurity Outlook 2024 report, prepared in collaboration with Accenture, also flagged threats posed by AI-generated deepfakes to spread false information about candidates […]

Jan 17, 2024 3 Mins read
AI’s Death Prediction Tool Claims Remarkable Accuracy. Know The Details

AI’s Death Prediction Tool Claims Remarkable Accuracy. Know The Details

Danish scientists developed an AI chatbot, life2vec, that can predict potential life events, including health issues and financial success, based on individuals’ data. However, it has been misinterpreted as a ‘death calculator’, leading to privacy concerns. Lots of people are curious about how they’ll die, even though it’s not a fun topic. Some have looked […]

Mar 19, 2024 3 Mins read
How AI features may ‘revive’ a declining PC market in 2024

How AI features may ‘revive’ a declining PC market in 2024

The PC market has had quite a few tough quarters in a row. According to a report by IDC, there has been an “unprecedented trend” in the PC market — two consecutive years of double-digit year-over-year drops. However, the research firm is optimistic about the market’s recovery. “Despite the short-term challenges, IDC continues to expect […]

Dec 28, 2023 3 Mins read
UK court bans patents for two AI-based inventions.

UK court bans patents for two AI-based inventions.

The UK’s supreme court has ruled that AI cannot be named as an inventor and secure patent rights. It follows earlier decisions from lower courts that reached the same conclusions. On Wednesday, US computer scientist Stephen Thaler lost his attempt to register patents for inventions he says were created by his AI system, DABUS. Thaler […]

Dec 28, 2023 3 Mins read
AI Determines Authenticity of Branded Items: Here’s How

AI Determines Authenticity of Branded Items: Here’s How

In a move set to revolutionize the battle against counterfeit luxury items, tech company Entrupy is harnessing the capabilities of artificial intelligence (AI) to provide consumers with a definitive answer on the authenticity of designer handbags and sneakers. The company, established in 2012 and supported by industry giant Louis Vuitton, asserts its ability to accurately […]

Dec 28, 2023 3 Mins read
Microsoft’s new Copilot Pro brings AI-powered Office features to the rest of us.

Microsoft’s new Copilot Pro brings AI-powered Office features to the rest of us.

Microsoft first launched its AI-powered Office features for businesses in November, but just two months later the company is already offering them to consumers. Copilot Pro is launching today as a $20 monthly subscription that provides access to AI-powered features inside Office apps like Word, Excel, and PowerPoint alongside priority access to the latest OpenAI […]

Jan 17, 2024 3 Mins read
Google fires Python team: Are Python devs still relevant in AI era?

Google fires Python team: Are Python devs still relevant in AI era?

All the Big Tech companies along with others like Intel, IBM, Netflix, Facebook, and Spotify use Python as their primary language.   Google has reportedly handed pink slips to its entire Python team in the US. But should it cause fear among Python developers across the industry? Studies suggest otherwise. As per a 2023 Developer […]

Apr 30, 2024 3 Mins read
Apple Halts Sales of Apple Watch Series 9 and Ultra 2: Here’s Why

Apple Halts Sales of Apple Watch Series 9 and Ultra 2: Here’s Why

Apple is on the verge of a ban on two of its latest smartwatches in its home country. The ban could impact the American brand’s $17 billion business. However, the company is working on software fixes for the Watch Ultra 2 and Watch Series 9 to prevent this, according to a report by Bloomberg. Apple […]

Dec 28, 2023 3 Mins read
Pulitzer-Winning Authors Sue OpenAI and Microsoft for Copyright Infringement

Pulitzer-Winning Authors Sue OpenAI and Microsoft for Copyright Infringement

A group of 11 nonfiction authors have joined a lawsuit in Manhattan federal court that accuses OpenAI and Microsoft (MSFT.O) of misusing books the authors have written to train the models behind OpenAI’s popular chatbot ChatGPT and other artificial-intelligence based software. The writers, including Pulitzer Prize winners Taylor Branch, Stacy Schiff and Kai Bird – […]

Dec 28, 2023 3 Mins read
After WhatsApp, Meta AI could soon show up in your Instagram DMs. Here’s how the chatbot will work

After WhatsApp, Meta AI could soon show up in your Instagram DMs. Here’s how the chatbot will work

Meta is testing a new generative AI -based feature on its social media platform, Instagram. The newly rolled-out feature is Meta AI, which is the company’s general-purpose, AI-powered chatbot. Similar to Bing Chat, it can answer questions, write poetry, and generate images with a simple text prompt. Meta unveiled Meta AI in September 2023 and […]

Apr 5, 2024 3 Mins read
Google, Meta, and Tech Giants Adapt to New EU Regulations

Google, Meta, and Tech Giants Adapt to New EU Regulations

From overhauling online platforms to backroom engineering, Google, Apple, Amazon, Microsoft, Meta, and TikTok owner ByteDance have scrambled over the last six months to comply with landmark EU tech rules that come into force on Thursday. The Digital Markets Act (DMA) is one of the most comprehensive regulatory actions to rein in so-called “Big Tech” […]

Mar 7, 2024 3 Mins read
Claude 3.5 Sonnet: Redefining AI Excellence

Claude 3.5 Sonnet: Redefining AI Excellence

In a significant advancement in AI technology, Anthropic has unveiled Claude 3.5 Sonnet, the latest version of their sophisticated AI model. This release brings several enhancements that position Claude 3.5 Sonnet as a strong competitor to OpenAI’s ChatGPT 4. Here’s an in-depth look at Claude 3.5 Sonnet, its new features, and a comparison with ChatGPT […]

Jun 27, 2024 3 Mins read
The White House Puts New Guardrails on Government Use of AI

The White House Puts New Guardrails on Government Use of AI

The US government issued new rules Thursday requiring more caution and transparency from federal agencies using artificial intelligence, saying they are needed to protect the public as AI rapidly advances. But the new policy also has provisions to encourage AI innovation in government agencies when the technology can be used for the public good. The White […]

Mar 16, 2024 3 Mins read
ChatGPT 5 Release Date Announced? – Here’s What’s New!

ChatGPT 5 Release Date Announced? – Here’s What’s New!

ChatGPT 5 is on its way, and it promises to be a game-changer. Sam Altman, CEO of OpenAI, recently made some significant statements about the upcoming release, shedding light on what we can expect. Let’s dive into the details with a comprehensive look at the features, advancements, and what this means for everyone. Key Highlights […]

Jun 5, 2024 3 Mins read
Google’s Enhanced Generative AI in Search: A Deep Dive

Google’s Enhanced Generative AI in Search: A Deep Dive

Google has significantly upgraded its search engine using generative AI. These updates aim to make search results more useful, detailed, and easier to understand. Let’s take a closer look at these new features, how they work, their benefits, and any potential downsides Key Features of Google’s Enhanced Generative AI in Search AI Overviews Quick Summaries […]

Jun 10, 2024 3 Mins read
Google’s Legal Setback Threatens $200 Billion App Store Market

Google’s Legal Setback Threatens $200 Billion App Store Market

The recent legal defeat of Google against Epic Games Inc., the creator of Fortnite, poses a significant threat to the dominant position of Google and Apple in the lucrative app store market, generating nearly $200 billion annually. The San Francisco jury’s verdict delivers a setback to the business approach of imposing high commissions, up to […]

Dec 28, 2023 3 Mins read
Why adoption of AI may be critical for businesses to tackle cyber threats and more

Why adoption of AI may be critical for businesses to tackle cyber threats and more

Data security concerns are proving to be a substantial impediment to the widespread deployment of AI. Consequently, companies are unsurprisingly leveraging AI itself to tackle these apprehensions. As businesses in various sectors increasingly adopt AI to enhance processes and ensure more precise decision-making, the utilisation of AI-powered security technologies becomes crucial. These technologies can rapidly […]

Dec 28, 2023 3 Mins read
Why code-testing startup Nova AI uses open source LLMs more than OpenAI

Why code-testing startup Nova AI uses open source LLMs more than OpenAI

It is a universal truth of human nature that the developers who build the code should not be the ones to test it. First of all, most of them pretty much detest that task. Second, like any good auditing protocol, those who do the work should not be the ones who verify it. Not surprisingly, […]

Apr 19, 2024 3 Mins read
Meet World’s First AI Software Engineer ‘Devin’, Here’s What All It Can Do

Meet World’s First AI Software Engineer ‘Devin’, Here’s What All It Can Do

Bay area startup Cognition today revealed Devin, a revolutionary AI software engineer that could transform the way we build software. Devin has achieved groundbreaking success on the SWE-bench coding benchmark, demonstrating its ability to execute complex tasks and even surpass top human engineers. Devin’s unique abilities set it apart from your typical coding assistant. With […]

Mar 13, 2024 3 Mins read
ChatGPT Faces EU Privacy Complaint Over ‘Hallucination’ Issues

ChatGPT Faces EU Privacy Complaint Over ‘Hallucination’ Issues

OpenAI is facing another privacy complaint in the European Union. This one, which has been filed by privacy rights nonprofit Noyb on behalf of an individual complainant, targets the inability of its AI chatbot ChatGPT to correct misinformation it generates about individuals. The tendency of GenAI tools to produce information that’s plain wrong has been well documented. […]

Apr 27, 2024 3 Mins read
PM Modi says India to lead the world in AI, asks startups to work on Indian solutions for global challenges

PM Modi says India to lead the world in AI, asks startups to work on Indian solutions for global challenges

Prime Minister Narendra Modi recently said India will lead the world in AI capabilities and exhorted young entrepreneurs and startups to work on “Indian solutions for global applications” to solve challenges faced by nations worldwide. Addressing the Startup Mahakumbh, Modi said the three missions on AI, semiconductors, and quantum, launched by the government earlier, will […]

Mar 26, 2024 3 Mins read
Check Point Partners with NVIDIA to Enhance AI Cloud Infrastructure Security

Check Point Partners with NVIDIA to Enhance AI Cloud Infrastructure Security

Check Point Software Technologies Ltd. today announced its collaboration with NVIDIA to enhance the security of AI cloud infrastructure. Integrating with NVIDIA DPUs, the new Check Point AI Cloud Protect solution will help prevent threats at both the network and host levels. “AI provides great benefits across healthcare, education, finance and more. At the same […]

Apr 2, 2024 3 Mins read
Exploring Llama 3.1: A Comprehensive Guide

Exploring Llama 3.1: A Comprehensive Guide

Artificial Intelligence (AI) has made significant strides, bringing us models that are more powerful and capable with each iteration. One such model that’s making a big impact is Llama 3.1. Let’s dive into what makes Llama 3.1 special, compare it with other major AI models like ChatGPT and Claude, and explore how businesses can leverage […]

Jul 26, 2024 3 Mins read
Microsoft expands its presence in the UK, announces new AI hub in London

Microsoft expands its presence in the UK, announces new AI hub in London

Over the past few years, we’ve seen Microsoft shift its focus to generative AI and its advances, especially after making a multi-billion investment into the technology, further extending its relationship with OpenAI. Microsoft, a global leader inartificial intelligence (AI) technology, has announced its plans to establish a groundbreaking AI hub in London. This strategic move underscores […]

Apr 9, 2024 3 Mins read
LinkedIn Tests Premium Company Pages with AI Content Creation

LinkedIn Tests Premium Company Pages with AI Content Creation

LinkedIn — the social platform that targets the working world — has quietly started testing another way to boost its revenues, this time with a new service for small and medium businesses. Spaculus Software has learned and confirmed that it is working on a new LinkedIn Premium Company Page subscription, which — for fees that appear […]

Apr 16, 2024 3 Mins read
Kyutai’s Moshi: A New Era for AI and Business Growth

Kyutai’s Moshi: A New Era for AI and Business Growth

Kyutai has launched Moshi, an advanced AI model that’s set to revolutionize the AI landscape. Moshi is built on a 7-billion-parameter model, Helium-7B, which processes both text and audio data simultaneously. This allows for a more natural and fluid interaction, akin to conversing with a human. Moshi isn’t just about understanding text; it’s designed to […]

Jul 11, 2024 3 Mins read
A New GPU and Now, a New AI Chatbot? Nvidia is on a Roll, Launches ‘Chat with RTX’

A New GPU and Now, a New AI Chatbot? Nvidia is on a Roll, Launches ‘Chat with RTX’

Nvidia is on a roll! Yesterday, the company unveiled a whole new GPU, the RTX 2000 Ada. Now, the company has just come out with an early version of a new app called Chat with RTX, and it’s pretty exciting for anyone with a newer Nvidia graphics card. This app is all about letting your computer do […]

Feb 14, 2024 3 Mins read
Nvidia enters correction territory as stock falls 10% from all-time highs

Nvidia enters correction territory as stock falls 10% from all-time highs

Nvidia entered “correction territory,” after shares briefly fell 10% from their most recent all-time closing high. Shares had recovered by Wednesday’s close when they were only about 8% off the high. The company, which makes graphics processing units — or GPUs — has been a key beneficiary of the artificial intelligence boom, which boosted demand […]

Apr 12, 2024 3 Mins read
Meta’s Instagram back online for most users after outage, Downdetector shows

Meta’s Instagram back online for most users after outage, Downdetector shows

Meta Platforms’s Instagram appeared to be back online for most users after an outage disrupted services for the photo-sharing platform for more than three hours on Thursday, according to Downdetector.com. The number of outages has come down to around 400 after more than 5,000 users reported issues with accessing Instagram in the United States around 2230 GMT, […]

Mar 23, 2024 3 Mins read
Microsoft adds AI backed ‘Voice Clarity’ feature to Windows 11. What is it and how does it work?

Microsoft adds AI backed ‘Voice Clarity’ feature to Windows 11. What is it and how does it work?

Microsoft has announced a Voice Clarity feature that uses artificial intelligence technology to improve the video calling experience on Windows 11. The feature, which was previously only available on Surface devices, is now available to all users and made its debut in the latest Canary build for Windows 11. The new Voice Clarity feature is […]

Jan 30, 2024 3 Mins read

Get a Free Consultation Today!

Contact Us