The future of Web3 lies in portability: Accenture Executives[Davos Conference 2023]| coindesk JAPAN | Coindesk Japan

Consulting giant Accenture is betting on Web3’s potential, according to senior managing director David Treat.

At CoinDesk TV’s special studio set up to coincide with the World Economic Forum (WEF) Annual Meeting (Davos), Treat will explore augmented reality (AR), virtual reality (VR), and “identity, money, objects, etc.” Metaverse’s capabilities, including the ability to tokenize “, can simultaneously shift business models and open up new revenue streams.”

A study published by Accenture in early January found that the metaverse could drive a $1 trillion business opportunity by the second half of 2025.

Still, Treat said, it’s important to have some kind of structure that allows you to establish trust with your users when things go wrong.

“That requires the ability to think through governance, audit management, and hybrid structures that approach those things in a variety of non-traditional ways.”

An important step is portability, which should allow users to use blockchains without being aware of the differences.

“We need to be able to bring[the different objects we use in the metaverse]the identities we build, and the money into different digital contexts[=metaverse]. If we are going to use different blockchains and different wallets, It’s a pretty dystopian ending,” Treat said.

｜Translation: coindesk JAPAN
｜Editing: Takayuki Masuda
｜Image: CoinDesk TV (capture)
｜Original: Accenture Exec Says Future of Crypto Self Custody Will Be Portability