What was once a futuristic concept is quickly becoming a more concrete reality, even at a time when Web2 still dominates. Six out of ten Fortune 500 companies are exploring blockchain-based solutions, most taking a hybrid approach that combines traditional Web2 business models and infrastructure with the decentralized technologies and principles of Web3. Popular use cases include cloud services, supply chain management, and, most notably financial services. In fact, at one point, the daily volume of transactions processed on decentralized finance exchanges exceeded $10 billion. Gaining a Web3 edge Among the advantages of Web3 for the enterprise are greater ownership and control of sensitive data, says Erman Tjiputra, founder and CEO of the AIOZ Network, which is building infrastructure for Web3, powered by decentralized physical infrastructure networks (DePIN), blockchain-based systems that govern physical infrastructure assets. More cost-effective compute is another benefit, as is enhanced security and privacy as the cyberattack landscape grows more hostile, he adds. And it could even help protect companies from outages caused by a single point of failure, which can lead …