Importance of technology in shaping business environment – News

It’s safe to say the UAE is at the forefront of innovation and technology and have welcomed Web 3 with open arms



Now, we move into a new age of technology which is commonly known as Web 3. This technology is heavily dependent on the blockchain, as we move to a virtual reality, where your digital presence is seen to some as more important than your real life presence. — File photo

By Mohamed Khalid/Viewpoint

Technology has been the cornerstone of business for generations and is the key component for the global economy to continue to grow. As technology grows, so does the economy.

In the early 2000s, with the early adoption of the internet it’s hard to believe that business’s once operated without the internet as now almost every business in one way or another has become heavily dependent on this technology.

Now, we move into a new age of technology which is commonly known as Web 3. This technology is heavily dependent on the blockchain, as we move to a virtual reality, where your digital presence is seen to some as more important than your real life presence.

A common example of this is many will prioritise how they look on Instagram over how they appear going to their local supermarket. There has been a lot of hype about the metaverse and virtual reality which takes this to the next level, the future where people will be spending more of there time in virtual worlds. This new aged technology will shape how the world will do business with each other as there will be no need to jump on a plane and have a meeting across the other side of the

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