Traditional finance vs. web 3: A comparative analysis of key features and characteristics for better readability purposes
- Title
- Traditional finance vs. web 3: A comparative analysis of key features and characteristics for better readability purposes
- Creator
- Jha B.; Giri P.; Jha D.; Dhanya D.
- Description
- Web3 is a ground-breaking invention that has the ability to address the shortcomings of web1 and web2. The industry witnessing its major impact is the finance sector. A wave of innovation in traditional finance has been inspired by the introduction of Web3. It is also referred to as the decentralised web and is a developing movement that is upending conventional finance by providing a more open, safe, and decentralised substitute. Traditional banking should work to adopt the features that Web3 offers, including stability, scalability, interoperability, security, performance, extensibility, management, and openness. In order for TradFi to maintain its relevance and expertise in the face of the widespread adoption of digital financial modes, it is now necessary to embrace several Web3 capabilities. Keeping into consideration the relevance and importance of Web3 in finance, this chapter will basically focus on analysing the key features and characteristics of Web3 in comparison to traditional finance. 2023 by IGI Global. All rights reserved.
- Source
- Concepts, Technologies, Challenges, and the Future of Web 3, pp. 33-46.
- Date
- 2023-01-01
- Publisher
- IGI Global
- Coverage
- Jha B., CHRIST University (Deemed), Manipal University, Centurion Institute of Professional Studies, India; Giri P., CHRIST University (Deemed), India; Jha D., CHRIST University (Deemed), India; Dhanya D., CHRIST University (Deemed), India
- Rights
- Restricted Access
- Relation
- ISBN: 978-166849920-7; 978-166849919-1
- Format
- Online
- Language
- English
- Type
- Book chapter
Collection
Citation
Jha B.; Giri P.; Jha D.; Dhanya D., “Traditional finance vs. web 3: A comparative analysis of key features and characteristics for better readability purposes,” CHRIST (Deemed To Be University) Institutional Repository, accessed February 23, 2025, https://archives.christuniversity.in/items/show/18274.