target audience: TECH SUPPLIER Publication date: Nov 2022 - Document type: IDC Survey Spotlight - Doc Document number: # US49855222
How Important Is Web3 and Decentralization to Industry Ecosystems?
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Abstract
This IDC Survey Spotlight shares data from the recent IDC Future Enterprise Resiliency Survey (FERS), focusing on the key considerations of industry ecosystem technology strategy and comparing this with the actual technology investment today. IDC defines Web3 as a collection of open technologies and protocols supporting the trustless use and storage of decentralized data, knowledge, and value. Content is decentralized on DAOs (decentralized autonomous organizations), with control and value retained by users. Blockchains, NFTs, and smart contracts will play a critical role in establishing immutable transaction, communication, and collaboration that is seamless and does not have to be validated every time (i.e., "trustless").
We think as industry ecosystems evolve to include a varied set of partners, customers, suppliers, service providers, and public entities, that Web3 will be leveraged as a complement to classic enterprise business networks to provide new sources of data, innovation, applications, and expertise. IDC's 2022 Future of Industry Ecosystems Global Survey, July 2022, and IDC's Future Enterprise Resiliency Survey, October 2022, show that interest in Web3, as well as DAOs and metaverse, is strong. While it is still in the early, experimental days, organizations see how Web3 can provide a foundation, a fabric if you will, that can assure trust, enable innovation and, perhaps most importantly, scale activity.
For additional research and analysis on the opportunity for Web3 and industry ecosystems, we recommend reading the following documents: