Davos 2023: Accenture Executive David Treat says future of Crypto self custody will be portability - Moneycontrol

January 17, 2023 / 08:36 AM IST

Accenture, the IT services and consulting firm, is leaning heavy towards the imaginable of Web 3, according to the company's senior managing director, David Treat.

Speaking astatine the World Economic Forum (WEF) astatine Davos 2023, Treat said that metaverse-enabled capabilities, including augmented world (AR), virtual world (VR) and the quality to tokenize “identity, wealth and objects,” tin simultaneously displacement concern models and pat into caller gross streams, according to a study by CoinDesk.

Treat further said that it comes down to gathering 'architectural patterns' that establishes spot with users successful the lawsuit thing does spell wrong.

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“That requires immoderate governance, audit power and quality to deliberation done the hybrid structures that we’re moving with to bash that successful antithetic originative ways,” he added.

According to Treat, the cardinal measurement is portability, wherever users should beryllium capable to person a portable instrumentality that tin beryllium utilized crossed quality blockchains, the study further added.

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“I request to beryllium capable to bring that object, and the individuality that I've received oregon my wealth and instrumentality it to a antithetic integer context,” Treat said. “And if that's a antithetic ledger with a antithetic wallet, that's a beauteous dystopian outcome,” helium further added.

In a survey earlier this year, the Dublin, Ireland-based consulting steadfast said that by precocious 2025, the metaverse is apt to substance a $1 trillion accidental for businesses.