KiwiTech’s Web3 Center of Excellence – A Recap of 2022

Only if you had been living under a rock had you dared to ignore the Web3 space in the year that has been. With 2021’s Web3 euphoria on everyone’s heads, it was hard to believe how things unraveled by the end of 2022, not that the rage ever stopped; it just took a turn nobody was expecting.

While the concerns for security and legalization were always at the back of the heads, nobody bothered to take it to center stage until something massive like the recent FTX collapse happened.

It questioned all the aspects of cryptocurrencies from top to bottom and wiped out the trust it previously boasted. However, despite it being a year of unpredictability and setbacks for the entire industry, a few developments and advancements in the space have clearly taken the shine off crypto. 

And consequently, one thing became crystal clear from the revelation that Web3 is not just crypto and crypto is not the ONLY application of Web3. 

It could have begun with crypto as its riding hood, but today Web3 has manifested itself in a diverse form, with decentralized applications and protocols standing out from the rest.

As a result, the space today has a lot more to offer, much to conquer, and a whole lot to be explored regarding Web3. From the outset, this year has been one full of surprises and growth for our Web3 team, who had only set their eyes and kept building onwards and upwards.

Powering the Progress

This year, we saw a lot of progress in Web3 technology as we witnessed some amazing projects, protocols, and applications built on the blockchain. 

Our team of experts and advisors has worked tirelessly to help different projects bring their visions to life while supporting some of the most innovative ones. 

Inculcating a Culture of Excellence

• Continual upskilling, cross-training, & securing accredited certifications, be it permissioned distributed ledger technology like R3 Corda or public EVM-based Blockchains.

• Adding versatile skills to our arsenal – whether it is different protocols, e.g., Polygon, Palm, Algorand, XRPL, Binance, etc., or leveraging the latest tools & technologies like Infura, Pinata, IPFS, Exchanges, etc.

Bringing the Vision Into Reality

In the true spirit of collaboration, we worked closely with our partners to help them turn their product vision into real consumer-serving platforms. With a varied range of products and domains, our experts were able to assist in delivering products ranging from essential digital token-based solutions to complex DeFi solutions. 

Some of them are:

• An NFT Launchpad Solution – A co-brandable NFT marketplace integrated with blockchain networks like Ethereum, Palm, Algorand, Polygon, XRP ledger, etc.

• Decentralized Payment & Reward Ecosystem – Utilizing a reflection-based token in the Complementary & Alternative Medicine (CAM) industry.

• Digital Representation of Physical Goodies – A platform that sells exclusive physical art and collectibles featuring authentication for collectors.

• An MVP Syndicate Lending App – On permissioned blockchain networks like R3 Corda and AWS Managed Blockchain leveraging Hyperledger Fabric

Ideation & Discovery 

We engage with our partners right from the beginning to understand their needs and dig deep with them to enable an efficient discovery. Whether there is a need for validation or guidance, our experts have always been there to assist. We’re glad we could participate and add value to the following projects:

• A match-making application/ecosystem for home buyers to co-own houses based on fractional shares of Tokenized Real Estate assets, incentivizing real estate investments to build equity and yield farming through a lending protocol.

• A PropTech company that connects land developers and investors, our collaboration led them to crystallize their requirements to enhance their existing application and leverage the available and trustless Web3 principles.

• A sustainable Bitcoin mining platform that aims to connect regular investors to renewable energy mining facilities. Their business model included an elastic supply-based token to digitize the value of the platform & community to enable “real yield” for their customers.

• Ideating for enhancement of a Web2, In-Game rewards exchange platform to enhance inclusivity with a blockchain-based solution for Tokenizing, Engage2Earn, On-ramp & Off-ramp solutions.

• A cross-border payment solution is a DLT-based platform for cross-border remittance that can act as a revolutionary alternative to traditional solutions.

Collaborating to Succeed

At KiwiTech, we are actively working to build the Web3 community in several ways. One such community was our Web3 Society of New York in partnership with Silicon Society, where we held meetups to develop and empower people across the board on the actual use cases of this powerful technology.

Empowering Web3 Education

Our webinars have proven to be a gateway for many entrepreneurs, developers, and enthusiasts to get to know the ground-level developments in Web3 rather than just fostering the hype. A few of our recorded webinars include:

• Web3- What is it & Why it matters?
• Evolution of an NFT Launchpad
• Decode Cross-border payments with Stellar

Key Highlights of the Year

NFTs Were at an All-time High

They continued to deliver value with more creative ideas, taking the lead in the industry.

The Emergence of Ethereum Merge

Though delayed, a remarkable development in the Ethereum mainnet unlocked the true potential of Web3 in the sustainability sector.

Crypto Crash 

The 2021 crypto euphoria halted, and what looked like a crypto winter for the initial 8 months transformed into the worst nightmare for Web3 investors by the end of the year. 

Consequently, many problems surfaced that called for a foolproof plan for Web3 of the future to secure the Web3 community from fraud and money laundering cases and develop into industries with a lot of potential in store for Web3. 

Web3 Seeking Crypto Regulations 

People across the board are looking for crypto legalization to secure them from any future frauds and reinstate their trust in crypto.

All Game for Gaming

Gamers are also getting involved in the Web3 game as we saw notable developments in the gaming industry, with blockchain-based games popping up everywhere.

It’s Time for Defi

Being the talk of the town, Defi has many projects and protocols on the way to optimize the finance industry at its best. 

Goodbye 2022, HELLO 2023! 

What remains in the space are passionate pioneers and builders developing and growing the Web3 industry, and we can’t wait to see what the blockchain future holds. 

We are excited about the new year and have some exciting plans and projects for the future. If you want to build or transform your business with future tech, KiwiTech is here to help you navigate this changing landscape and provide the best solutions. Contact our Web3 experts today!