Vendia’s Web3 2022 predictions

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Shruthi Rao is co-founder and chief commercial officer of Vendia, a serverless distributed data application platform. Previously, she founded the Blockchain category at AWS, where she launched and developed Amazon Managed Blockchain and Amazon Quantum Ledger Database, and was responsible for the business development of AWS’s serverless service portfolio including Lambda, API Gateway, Cognito and 11 other services. In 2011, Shruth set up the first crypto mining operation in India and has since been an early investor, contributor, and advisor to Ethereum Project, Ripple, Mobility Open Blockchain Initiative (MOBI), Linux Foundation and World Economic Forum.

Shruthi Rao’s Web3 2022 predictions in Vendia

In 2022, Web3 will become a reality, but the real value will be in enterprise applications where the secure sharing of data, in real time between departments or companies, is a key requirement.

Why? Under the NFT and crypto hype lies an architectural revolution far more exciting than the images of smoking monkeys. The distributed ledger capabilities that make NFTs immutable, reliable and traceable can be applied to any type of sensitive data. This is especially powerful with critical data occurring in supply chain, logistics, finance, and other business applications; these require a single, shared, protected and irrefutable source of truth.

There are three converging trends in data technology that make this Web3 future possible: decentralized and inter-cloud infrastructure, smarter infrastructure, and the convergence of traditional databases with blockchain technology. These create a data architecture approach that offers greater transparency, data lineage, auditability and creates reliable data sharing and computation between trading partners. Companies will acquire features such as transactions, ACID semantics, and read consistency models with distributed ledgers, creating an “uber blockchain” with all the speed and capabilities of a classic SQL or NoSQL database, in order to that organizations can trust their data wherever it comes from.

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