At the World Economic Forum in Davos, Switzerland, David Treat, the senior managing director of Accenture, talked about why users should be able to move their data and crypto from one place to another. Treat says that portability is the future of self-custody in crypto and that people should be able to move their data and cryptos to other sites.
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 another book with a separate wallet, that’s a bad situation.
After the self-custody episode at the end of 2022, when the FTX collapsed, wallet tokens started to rally bag, with a lot of money and interest coming in quickly. Self-custody is something that crypto supporters have been pushing for a long time, and the Accenture exec agrees with them. Also, Treat’s point of view makes a lot of sense. Users should have complete control over their resources, assets, and identities.
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 all examples.
Treat, on the other hand, says that the goal is to create “architectural patterns” that give users more confidence if something goes wrong.
A recent survey shows that the Metaverse will bring in up to $1 trillion by 2025 as a creative economy and a way to make tasks easier. Polls were given to almost 9,000 users, and 55% of them think that the Metaverse could be an excellent place to make and sell information.
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