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Web 3.0 consultants work with businesses to improve their performance by providing expert advice to solve problems and encourage growth. It’s not just private firms – many public institutions use Web 3.0 consulting to improve their practices and efficiency.

In basic terms, the role of the consultant is to provide their client with an audit of current procedures, their recommendation for improvement, and an action plan for implementation. They can be brought in by a business to advise senior management on a specific project or more broadly on the structure and practices of a firm. 

Instead of investing heavily in costly technologies or contingent staff, most businesses employ the services of consulting firms. Consultants are usually hired for their specialized skills and their access to digital tools and infrastructure. These firms provide businesses with the expertise and resources they need in a more cost-effective setup.

A survey by Clutch shows that 44% of small business respondents have hired consultants in the past. It also indicates that 29% of those who haven’t been hired have plans to hire one in early 2022.

The Internet has evolved over the years and gotten better and better. This evolution is commonly referred to as Web 1.0, Web 2.0, and Web 3.0. Web 3.0 is the third generation of web technology, and it’s here to stay. Technology is still new, and there is no standard definition of what it is or what it means, but it’s one of the most critical technologies for businesses. 

The rise of technologies such as distributed ledgers and storage on blockchain will allow for data decentralization and create a transparent and secure environment, overtaking Web 2.0’s centralization, surveillance, and exploitative advertising. Decentralized infrastructure and application platforms will displace centralized tech giants, and individuals will be able to rightfully own their data.

Indeed, one of the most significant implications of decentralization and blockchain technology is in the area of data ownership and compensation. As we move toward Web 3.0 and the technologies that support it mature and become scalable, I believe the web will reflect its original intent.

Why do we need Web 3.0?

With so much of the world’s data channelled through so few cables, the inconvenient truth is that unless we put in place open software protocols, our increasingly digital society will continue to be at risk from malicious “authorities” both within society and (as in the case Russian tampering of our elections) from outside. Those who wish to protect the peaceful, liberal post-war world order need to realize: Our present digital architecture will magnify society’s maladies, not limit them.

Web 3.0 is an inclusive set of protocols to provide building blocks for application makers. These building blocks take the place of traditional web technologies like HTTP, AJAX, and MySQL, but present a whole new way of creating applications. These technologies give the user solid and verifiable guarantees about the information they are receiving, what information they are giving away, what they are paying and what they are receiving in return. By empowering users to act for themselves within low-barrier markets, we can ensure censorship and monopolization have fewer places to hide. Consider Web 3.0 to be an executable Magna Carta — “the foundation of the individual’s freedom against the arbitrary authority of the despot.”

How to choose a Web 3.0 consulting firm?

1. Determine the type of service you need.

The kind of consulting service you need depends on the issues you need to resolve. So the first step in choosing a consulting firm is setting a clear definition of the specific work you want them to undertake. 

2. Check the profile of the consulting firm.

Whether you choose a large consulting firm or a boutique consultancy, it is important that they have the right profile that can help you achieve your business goals. Identify what they specialize in, their competencies, the specific services they offer, and the market they cater to.

3. Decide on the type of firm you want to work with.

Do you want to work with a general consulting firm or a specialized one? Do you prefer a large firm or a small one? A general business consulting firm can offer holistic services for wide-scale transformation throughout the entire company. However, a specialist advisory firm, such as Cosdec Alpha that is dedicated to Web3 only, may be more suitable for a particular project or a single area of business.

4. Check their presence in the community.

Many consulting firms showcase their portfolios and highlight their expertise. While these may give them an edge, it’s more important to check their reputation in the industry. 

5. Weigh their cost-efficiency.

One of the common reasons for hiring a consulting firm is to reduce costs on infrastructure, technology, and staffing. So it makes sense to factor in the cost structure of the firm you are considering. Check if they offer competitive rates that match your own budget and pricing models that give you the best value.

6. Check for culture fit.

Before you sign a contract with the consulting firm you have chosen, check first if their work style and culture align with your own company culture. Schedule a consultation to get a sense of their vision and approach to work.

7. Read the fine print.

It’s essential to go through the contract and read the fine print, especially if you are making a long-term commitment with a consulting firm. Check the inclusions, turnaround time, payment terms, and other details. Read the contract carefully to completely understand what you are getting into. This prevents unwanted surprises of hidden costs or unfinished projects.

Who Are The Leading Web 3.0 Consulting Firms?

1. Accenture

Accenture Strategy and Consulting provide business strategy, technology strategy, and operations strategy services, as well as technology, business, and management consulting services. Accenture Song (formerly Digital and Interactive) provides digital marketing, analytics, and mobility services. Accenture is known for its diverse service offerings and five main practice areas. These include: strategy, management, digital, technology, and operations consulting. The firm is consistently ranked as one of the top firms in the world

2. IBM

IBM Consulting is a new partner for the new rules of modern business. We embrace an open way of working by bringing a diverse set of voices and technologies together. We collaborate closely, ideate freely and swiftly apply breakthrough innovations that drive exponential impact to change how business gets done. Transformation is being transformed —from one-off initiatives to an urgent, purpose-driven imperative. Modern companies must move faster, but also with more empathy and openness.

 3. Deloitte

Deloitte Consulting is the world’s largest consulting firm and one of the big four accounting firms and has one of the largest professional networks worldwide. Helping organizations innovate, transform, and lead. By looking more deeply into your business, Deloitte Consulting helps bring bold strategies to life in unexpected ways. Through disruption and innovation, our clients are able to transform from market followers to market leaders.

4. Cosdec Alpha 

Cosdec Alpha is a Global Web 3.0 Consulting & Innovation company. It helps organizational leaders navigate and build their firm’s future in Web 3.0, backed by our research, network, and domain expertise to drive deeper consumer relations and enterprise value. Cosdec Alpha evaluates technology service and solutions companies based on the quality of work, thought leadership, and client reviews.

As we conclude, The idea of Web 3.0 will engender a new global digital economy, creating new business models and markets to go with them, busting platform monopolies like Google and Facebook, and giving rise to vast levels of bottom-up innovation. Cheap governance attacks on our privacy and liberty like widespread data trawling, censorship, and propaganda, will become more difficult. As with the development of the internet before it, the timeline could be measured in decades rather than months. Although when Web 3.0 emerges, it will bring a whole new meaning to the phrase “the Digital Age.”

Vanshika Verma

Consultant Analyst - Publishing

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