According to David Treat, senior managing director of Accenture, the company is substantially invested in the promise of Web 3.
According to a CoinDesk report, Treat stated at the World Economic Forum (WEF) in Davos 2023 that metaverse-enabled capabilities such as augmented reality (AR), virtual reality (VR), and the ability to tokenize “identity, money, and objects” can simultaneously shift business models and tap into new revenue streams.
Treat went on to say that it all comes down to creating “architectural patterns” that generate trust with people in the event that something does go wrong.
“That requires some governance, audit control, and the ability to think through the hybrid structures that we’re working with to do that in different creative ways,” he added.
According to the article, the most important step is portability, which requires customers to have a portable device that can be used across multiple blockchains.
“I need to be able to bring that object and the identity that I’ve received or my money and take them to a different digital context,” Treat said. “And if that’s a different ledger with a different wallet, that’s a pretty dystopian outcome,” he added.
According to a poll conducted earlier this year by the Dublin, Ireland-based consultancy company, the metaverse is anticipated to create a $1 trillion potential for enterprises by late 2025.