The appearance of web3 in the www. space have changed a lot of things by improving the Internet, shifting power to end users, having great utility for end users and it's impressive decentralised nature. Unlike centralised Web thus the web2, web3 is opensourced thus allowing a board range of intellectual communities to build on the initial design and even build other amenities on the platform. Notwithstanding all the good sides Web3 still lags behind with reasons being stated and explained below:
Uncertain Regulation
In recent years, crypto enthusiast have been torn into groups with some who believe asserts should be regulated and those who agree with the opposite. There is also the regular interferrence from central bodies like the SEC who like to stick their noses into the industry and want to make decision for the whole crypto community. These intereferrences has lead to tension and sometimes market downtrend which makes the market unattractive to the vast majority.
Web3 is still under the bushels (Unpopular):
Unlike other centralised businesses, Crypto industries does not have the attention as major centralized platforms do probably because there is not much exposure to it. Along the line, more advertisements and sponsorship programs just like what the ghanaian community is doing with sharing of hive branded books, the drilling of boreholes in deprived communities and many other projects will put crypto on the maps.
Limited Use Cases
As we all know, crypto and web3 have been around but only for a short while and it limited use cases has contributed to people staying completely away from it space. It is sometimes challenging to connect the the real world. For instance, can I get pizza or McDonald's at any joint with crypto? And can I buy a car at a retail shop with crypto? The answers to this questions are very limited if not impossible, but as a growing ecosystem, I am sure a lot of inspired innovative ideas will come which will make it web3 and all that comes with it be more readily accessible to the larger groups.
Bottom line
Every good thing takes time to build and to cement it foundations for lasting adventure and so will web3 and it potential be in the near future. Just as Meta then Facebook jump has jumped on it and currently Blackrock investing into it, so will others come swimming in it pools.
Thank you for your attention.