In the rapidly evolving world of the internet, transitioning from Web2 to Web3 has become imperative for businesses around the globe. However, this transition poses significant challenges, such as identity interoperability, technical security, and user experience.
KryptoGO, a player in the regulatory technology space, has recently launched KryptoGO Studio (KG Studio), an AI-powered cloud solution designed to address these challenges and accelerate enterprise enablement in the Web3 market.
During the launch event, KryptoGO identified three main challenges deterring Web2 businesses from entering the Web3 domain.
Firstly, there is the issue of identity and data interoperability between Web3 on-chain and Web2 off-chain, which KryptoGO addresses through its KYC/AML compliant technology.
Secondly, the high technical barriers surrounding cryptocurrency management for Web2 businesses interested in transitioning to Web3.
Lastly, the necessity for a better user experience in Web3 compared to Web2, which sets higher challenges for brand owners facing user retention and acquisition.
Kordan Ou, Founder and CEO of KryptoGO, believes that the fusion of AI and blockchain can offer stronger efficiency, trust, and management across different industries.
He stated that AI and applications based on large language models (AIGC) are accelerating the digital transformation of all enterprises, enhancing security, compliance, and market alignment.
KG Studio has formulated five major modules that address the three major challenges in enterprise transformation and upgradation: User 360, AssetPro, Compliance, NFT Boost, and Wallet.
These modules provide solutions for user understanding and analysis, asset management and operations, transactional compliance and security, NFT collection management and multi-chain support, and multi-chain wallet complexity and inconvenience.
KryptoGO also introduces bundled solutions for both GameFi and DeFi industries, KG Studio Lite and KG Studio Pro, which offer lightweight, modular design for rapid deployment and comprehensive one-stop solutions based on diverse client needs, respectively.
After its brand upgrade, KryptoGO focuses on three core businesses: offering KYC/AML compliant tech services for the financial and banking sectors, providing a one-stop solution for businesses transitioning from Web2 to Web3, and offering wallet services to end Web3 users.
According to data from Emergen Research, the global Web 3.0 market reached $3.2 billion in 2021 and is expected to grow rapidly, possibly reaching $81.5 billion by 2030.
The rapid growth is mainly due to advancements in AI and blockchain technologies, increased usage of cryptocurrencies, and a demand for more secure transaction methods across various industries.
By 2030, the market combining blockchain and AI could reach $9.807 billion. Companies pioneering new business models using these two technologies have the opportunity for rapid growth.