Latest Thoughtworks Looking Glass Signals Caution to Businesses Exploring Web3
Thoughtworks (NASDAQ: TWKS), a global technology consultancy that integrates strategy, design and engineering to drive digital innovation, today released Looking Glass, a guide to the critical technology-driven shifts set to shape business in 2023 and beyond. Based on Thoughtworks' unique approach to delivering cutting-edge innovation to businesses before new technologies reach mass adoption, this report offers industry leaders recommendations on how to best compete and become disruptors themselves.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20221206005209/en/
Thoughtworks' Looking Glass is updated on an annual basis. Here are the technology-driven shifts set to shape business in 2023 and beyond. (Graphic: Business Wire)
For many, Web3 is virtually synonymous with cryptocurrencies, NFTs and other blockchain technology. Yet Web3 is best understood as a collection of building blocks that could serve as the foundation for a more distributed future of the internet. As governments and organizations adopt concepts such as decentralized identity, businesses should carefully evaluate Web3 technologies through the lens of tangible value for customers, to be ready for potential brand and commercial opportunities.
"For many businesses, the biggest Web3 opportunities are likely to emerge around reducing friction and digitalizatio," said Dr. Rebecca Parsons, chief technology officer at Thoughtworks. "For some, Web3 has become synonymous with volatility and 'get rich quick' schemes. If the security and privacy aspects of blockchain are realized, the gain in distributed identity and greater end-user control could open up new ways for businesses to maintain customer data privacy while earning customer trust and loyalty in Web3."
The six lenses in today's Looking Glass report are:
Thoughtworks' Looking Glass is updated on an annual basis, to keep pace with the constant shifts in technology priorities and applications for businesses. Visit thoughtworks.com/insights/business to stay up to date with the latest business and industry insights for digital leaders.
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