In a session at Blockchain Expo Europe, Max Ndaboka, Global Enterprise Data Management Transformation Manager at PepsiCo, delved into the world of Web3 and how it’s modernising enterprises.
Speaking to a packed audience, Ndaboka shed light on the shift from Web2 to Web3 and highlighted the transformative potential it holds for businesses.
“Web2 is what we are all familiar with: the applications that we had in the past, running over the internet. Web3 is just referring to the next generation of the internet—where we have applications running on blockchains and where we’re using intelligence and artificial intelligence to create trustless applications,” explains Ndaboka.
The three core benefits of Web3 that Ndaboka highlighted were:
Trustless interactions: Web3 eliminates the need for intermediaries between users and applications, enabling trustless interactions. This means seamless, direct transactions and interactions without relying on third parties.
User control: Users gain control over their data, content, and applications in the Web3 landscape. This empowers individuals to personalise their online experiences.
Token economy growth: Web3 ushers in the era of token economies, reducing reliance on traditional currencies. This shift opens up exciting opportunities for businesses to explore new financial models.
Looking ahead, PepsiCo sees immense potential in the metaverse, especially when combined with generative AI. They aim to engage younger generations and adapt to evolving consumer preferences by meeting them where they are.
“Web3 is a very huge field of multiple opportunities. As a beverage company, we explored only a few areas, but you have opportunities in finance, banking, telecoms, and so on,” explains Ndaboka.
“We still have a lot to do, but we are going in the right direction.”
With Web3 on the horizon, the possibilities for innovation and transformation are near-limitless. Companies like PepsiCo are embracing the change and ensuring they are not left behind.