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Web3 could seize on the decades-old software-as-a-service business model

Published 02/01/2023, 10:59 AM
Updated 02/01/2023, 12:40 PM
© Reuters.

In the era of services like Netflix (NASDAQ:NFLX), Dropbox (NASDAQ:DBX) or Amazon (NASDAQ:AMZN) Prime, it’s quite easy to forget about the times when customers were getting in line to acquire boxed digital products, like software or entertainment media, with one-time purchases. The age of annual fees started when consumer products turned into subscription-based services.

The same transformation happened approximately a decade ago in the enterprise world when businesses reimagined ages-old solutions like enterprise resource planning or customer relationship management as ongoing services monetized via recurrent billings. Hence, the business-to-business (B2B) software-as-a-service (SaaS) model was born in the 2000s and disrupted the way enterprise technologies have worked over the last two decades.

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