Web 3.0- What it means for upcoming Fintech | TRC Consultancy
                     Web 3.0 and You 
What it means for upcoming Fintech? 
 
Over time, the global FinTech evolution wave underwent a significant transformation to become 
a scorching opportunity on Wall Street and in Silicon Valley. The potential of FinTech has grown 
from version 1.0 to version 3.0, forcing existing banking institutions and financial service 
providers to take a radical new direction that ushers in a new era of the digital world. Web 3.0, 
fueled by technologies like artificial intelligence and machine learning and prompted by the huge 
changes to the World Wide Web, reshaped the financial services industry and operating model 
generally and decentralized it. 
 
The first two waves accelerated the development of FinTech 3.0 and expanded the use of 
machine learning (ML) and artificial intelligence (AI), allowing for the flourishing of intelligent and 
autonomous processes. The evolution of the Web was essential in the development and 
advancement of the new wave of innovation, which was fueled by numerous secular influences. 
By democratizing access to information, Web 1.0, the first phase of the development of the World 
Wide Web, allowed people to share information internationally in a static manner. Following the 
collapse of the dotcom boom, Web 2.0 revolutionized the digital age and placed an emphasis on 
social networking, user-generated content, and cloud computing, giving rise to social networks 
like LinkedIn, Facebook, Twitter, Instagram, and many more. 
 Web 3.0, commonly referred to as the decentralized web, is a hypothetical future in which 
computers and technology will provide pertinent and valuable insights through the intelligent 
interpretation of data and transactions. The cornerstone of how businesses are delivering goods 
and services to the next generation of unicorns must be built on the Web 3.0 revolution, which 
is required by the new cashless and virtual economy in FinTech 3.0. 
 
 
Web 3.0's advantages for the fintech sector include: 
The third generation of internet services will transform how people, companies, and regulatory 
bodies plan to cooperate, enabling a more connected and smarter world for the financial services 
sector. The following are the main advantages of the convergence between Web 3.0 and our new 
decentralized operating model: 
 
TRUSTWORTHINESS 
Users will benefit from an easier and more user-friendly onboarding experience using Web 3.0. 
Web 3.0 will guarantee that end users always have full ownership and control over their online 
data by employing decentralized networks. By removing the security concerns associated with 
retaining any data, every single evolution of the Web from this point on will guarantee further 
more reliability for the enterprises. 
 
REACHABILITY 
The ability for users to access information as much as possible from anywhere in the world is one 
of Web 3.0's most important advantages. It will enable companies engaged in loan origination 
and servicing, BNPL (buy now pay later), and other operations to easily access information about 
the amount of money that is currently accessible in an account or information that verifies a 
person's identification. 
 
A BETTER CLIENT JOURNEY 
FinTech companies will be better equipped to comprehend the changing demands and 
expectations of their clients thanks to Web 3.0. Businesses can automate procedures to 
undertake customer journey mapping and allocate resources more effectively with the help of 
Web 3.0's list of contributing technologies in order to better satisfy customer expectations, 
promote improved engagement, and foster steadfast loyalty. 
 
MORE QUICK TRANSACTIONS] 
Real-time, safe, and transparent transactions for FinTech companies around the world will be 
made possible by artificial intelligence, the Internet of Things (IoT), and blockchain technology. 
With the use of automation and safe peer-to-peer transactions for digital payments, loan 
origination and servicing, BNPL, digital lending, etc., enterprises will be able to increase their 
efficiency. 
 
CONTINUOUS SERVICE 
Due to decentralization, data will be kept on dispersed nodes, which will drastically reduce 
account suspensions and denial of distributed services in Web 3.0. Additionally, this will assist 
FinTech companies in lowering the cost of managing server outages or seizures. 
 
Today's FinTech industry is developing at such a rapid rate that there is a huge demand for 
partners in digital lending technologies from businesses all over the world. Next-generation 
enterprises need a trustworthy partner who is knowledgeable about the current FinTech sector, 
which is being driven by Web 3.0, in order to unleash innovation and scale quickly. These kinds 
of partnerships make it possible to differentiate your company in a highly competitive market!