In a world where Web3 technology is steadily gaining interest, the metaverse, virtual assets, crypto coins, blockchain and NFTs may soon become everyday household terms. Together, they have the potential to become part of a new decentralized global infrastructure that will impact world economies, finance, eCommerce and more.

Based on decentralization and the blockchain ecosystem, Web3 is expected to significantly facilitate existing Web2 processes and create highly efficient new ones. The transition to virtual payments and community control will eliminate the dependency on costly third parties such as banks, government agencies and other centrally controlled institutions, and level the playing field for small and medium businesses.

Some trendsetting companies are already working on advanced BaaS platforms that will facilitate the transition to Web3 and offer efficient end-to-end systems capable of managing various services and products.

Giftoin has developed an A to Z blockchain-based solution for virtual gifts, which covers every stage of the gifting process including gift creation, registration on block chain, payments, greetings, gift wrapping, and rapid transfer via email.

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