David Treat, senior managing director at Accenture the renowned IT services and consulting firm is betting big on the revolutionary potential of Web 3.
World Economic Forum’s “First Mover” event in Davos 2023. Treat asserted that new metaverse-enabled features. However, these features include augmented reality (AR), virtual reality (VR), and tokenizing. “identity, money, and objects” can reshape business models while unlocking potential income sources.
According to the Dublin-based consulting firm’s survey from earlier this year, by 2025. Furthermore, businesses worldwide are predicted to generate upwards of $1 trillion in revenue due to the metaverse.
Ultimately, Treat underscores the essentiality of constructing “architectural patterns” To ensure user confidence, even in times of adversity.
“That requires some governance, audit control, and ability to think through the hybrid structures that we’re working with. This will enable us to do that in different creative ways,” Treat proclaimed.
Treat explains that portability is the primary step. However, consumers can acquire a movable device that will be useful in multiple blockchains.
According to Treat, it would be a dystopian outcome if he was unable to take an object. Furthermore also identity associated with it or his funds from one digital context and transfer them into another ledger with its own wallet.
Treat believes that portability is the future of crypto self-custody. He also believes that it will be essential in driving the adoption of blockchain technology on a global scale. He says this is the way forward into the new metaverse-enabled world.
Without portability, it is impossible to achieve the full potential of blockchain technology and Web 3 applications. As such, it is no surprise that Treat’s forecast for the future of crypto self-custody is one with an emphasis on portability. With this in mind, companies must begin their preparations for a portable future now. Doing so will allow them to reap the rewards of the technology in its full glory. However, it will also ensure they remain competitive in a changing digital landscape.
Conclusion
Accenture’s commitment to developing solutions that respond to this new era is a concrete sign of belief and trust toward blockchain technology and its potential. Treat’s foresight into how portability is essential for the future of crypto self-custody should be taken seriously by all companies that wish to remain competitive and reap the benefits of blockchain technology. It’s clear: portability is the key to the future.
