2022 Web3 predictions from Vendia

Shruthi Rao is co-founder and Chief Business Officer at Vendia, a serverless, distributed data application platform. Previously, she founded the Blockchain category at AWS, where she launched and grew Amazon Managed Blockchain and Amazon Quantum Ledger Database, and was the lead Business Development for AWS’ Serverless portfolio of services including Lambda, API Gateway, Cognito, and 11 other services. In 2011, Shruth set up India’s first crypto mining operation and has since been an early investor, contributor, and advisor to the likes of Ethereum Project, Ripple, Mobility Open Blockchain Initiative (MOBI), Linux Foundation, and World Economic Forum.

2022 Web3 predictions from Shruthi Rao at Vendia

In 2022, Web3 is going to become a reality, but the real value will be in enterprise business applications where securely sharing data, in real-time across departments or companies is a key requirement.

Why? Beneath the hype of NFTs and crypto is an architectural revolution much more exciting than images of smoking monkeys. The distributed ledger capabilities that make NFTs immutable, trusted, and traceable can be applied to any kind of sensitive data. This is particularly powerful with the critical data occurring in the supply chain, logistics, finance, and other enterprise applications; these require a single source of truth that is shared, protected, and irrefutable.

There are three converging data technology trends that are making this Web3 future possible: decentralized and cross-cloud infrastructure, smarter infrastructure, and the convergence of traditional databases with blockchain technology. These create a data architecture approach that provides greater transparency, data lineage, auditability, and creates trustworthy data sharing and computation among business partners. Enterprises will gain capabilities like transactions, ACID semantics, and read consistency models with distributed ledgers, creating an “uber blockchain” with all the speed and capabilities of a classic SQL or NoSQL database, so organizations can trust their data wherever it comes from.