- As per Accenture Executive, portability is the future of self-custody in crypto.
- Treat said that Metaverse will enable the business’s features.
Accenture’s senior managing director, David Treat, highlighted why users should be able to move their data and crypto from one location to another at the World Economic Forum in Davos, Switzerland. According to Treat, portability is the future of self-custody in crypto, and one should give the option to transfer their data and cryptos to other regions.
Treat also noted that he needs to be able to transport the object and the identity that would get his money to a different digital space. And if that’s a separate ledger with a different wallet, that’s a fairly grim scenario.
Following the self-custody episode at the end of 2022, following the collapse of the FTX, wallet tokens began to rally bag, with a rapid in-flow of capital and interest. Crypto supporters have long advocated for self-custody, and it looks like Accenture exec shares their viewpoint. Furthermore, Treat’s point of view is quite valid. Users should be able to fully control their assets, identities, and other resources.
Accenture Executive Views on Metaverse
Treat has suggested that digital world features may disrupt company strategies while also opening up new revenue streams. AR (augmented reality), VR (virtual reality), and the ability to tokenize identity, money, and items are instances.
However, Treat says that the objective is to develop “architectural patterns” that increase user confidence in the event that something goes wrong.
Treat has also said that
“That necessitates some governance, audit control, and the ability to think through the hybrid structures that we’re dealing with in various creative ways.”
Based on a recent survey, the Metaverse as a creative economy and tool to improve chores is predicts to drive up to $1 trillion by 2025. Almost 9000 users were polled, and 55% believe that the metaverse has an economic potential for making and selling information.