{"id":412625,"date":"2022-03-06T05:04:00","date_gmt":"2022-03-06T02:04:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/the-post-consortia-era-how-enterprises-are-embracing-web3-structures\/"},"modified":"2022-03-06T05:04:00","modified_gmt":"2022-03-06T02:04:00","slug":"the-post-consortia-era-how-enterprises-are-embracing-web3-structures","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/the-post-consortia-era-how-enterprises-are-embracing-web3-structures\/","title":{"rendered":"# The post-consortia era: How enterprises are embracing Web3 structures"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a2e5f9ac9eb9\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a2e5f9ac9eb9\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/the-post-consortia-era-how-enterprises-are-embracing-web3-structures\/#%E2%80%9D_The_post-consortia_era_How_enterprises_are_embracing_Web3_structures_%E2%80%9C\" >&#8221; The post-consortia era: How enterprises are embracing Web3 structures &#8220;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/the-post-consortia-era-how-enterprises-are-embracing-web3-structures\/#Enter_the_consortium\" >Enter the consortium<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/the-post-consortia-era-how-enterprises-are-embracing-web3-structures\/#The_justification_for_the_industry_silos_is_dwindling\" >The justification for the industry silos is dwindling<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/the-post-consortia-era-how-enterprises-are-embracing-web3-structures\/#Will_DAOs_replace_consortia_in_the_enterprise_space\" >Will DAOs replace consortia in the enterprise space?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/buradabiliyorum.com\/en\/the-post-consortia-era-how-enterprises-are-embracing-web3-structures\/#So_where_can_consortia_serve_best_Defining_the_standards_not_the_network\" >So, where can consortia serve best? Defining the standards not the network<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_The_post-consortia_era_How_enterprises_are_embracing_Web3_structures_%E2%80%9C\"><\/span>&#8221; The post-consortia era: How enterprises are embracing Web3 structures &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-128018ef>Now that the initial hype surrounding blockchain <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>lications and the prolonged blockchain \u201cwinter\u201d that followed are left behind, we now find ourselves in the middle of a \u201cspring\u201d that is helping organizations reimagine how they deliver value. So much so that blockchain is expected to add $1.76 trillion to the global economy by 2030, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.pwc.com\/timefortrust\">according<\/a> to PWC.\u00a0<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-03\/2d1dd3cb-a778-4d02-ad55-d0e3dc87e4bb.png\"><\/figure>\n<p>A significant chunk of this uptick is expected to come from business-to-business (B2B) implementations, which stand to gain the most from the security, immutability and streamlining opportunities afforded by blockchain-based transactions and relationships. With processes that involve multiple partners, dozens (if not hundreds) of products and cumbersome bureaucracy for almost any business process, it\u2019s hard to overstate how much enterprises stand to gain, especially when considering the emergence of more agile competitors. <\/p>\n<p>But, while small and medium businesses (SMBs) are faster and more nimble in adopting new <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a> and products, enterprise adoption is slow. Sale cycles are long, there are more gateways and there remains strong incentives for multiple internal stakeholders to keep things as they are. <\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Enterprise blockchain of today: While some fail, others show potential value<\/em><\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Enter_the_consortium\"><\/span>Enter the consortium<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Part of the ascendancy of enterprise blockchain has come from a growing desire by corporate decision-makers to join forces with others to develop and work on similar solutions. All hoped that the more entities working together in developing and managing proof of concepts, or pilot phases, could make developments more valuable. These efforts have been performed via membership to larger collaborative organizations, or the \u201cold world\u201d consortiums. We started seeing the foundation of various designated blockchain consortia for specific industries such as RiskStream and B3i. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-03\/b70fa218-cec3-43dc-9c4b-57367d561277.png\"><\/figure>\n<p>Existing industrial consortia and governance bodies also started setting up designated networks for their members like the attempt done inside the GSMA for the mobile space. In 2019, 92% of executives who responded to Deloitte\u2019s Global Blockchain Survey <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www2.deloitte.com\/content\/dam\/Deloitte\/us\/Documents\/technology\/us-cons-blockchain-consortium.pdf\">said<\/a> they already belong to a consortium or planned on joining one.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Private, public and consortium blockchains: The differences explained<\/em><\/strong><\/p>\n<p>But, looking back, it seems that production deployments of enterprise blockchain have a thing in common: very few of them are actually led by consortia. Sure, some companies have created ad-hoc consortia, usually representing the interested players of a given ecosystem in order to drive early adoption and reach initial consensus (Mediledger and Tradelens being two examples of this). But, the bottom line is that solutions were developed and deployed by for-profit providers and adopted by for-profit companies without being approved or greenlit by industry-wide consortia every step of the way for implementation.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"The_justification_for_the_industry_silos_is_dwindling\"><\/span>The justification for the industry silos is dwindling <span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Enterprises wanting to experiment with the technology, build use cases and gain traction are often deferred from doing so on public chains because of their limitations, particularly those who were inclined to keep their operations internal and private. Before interoperability became an industry focus, developers were understandably forced into developing blockchain in siloed ways. They were permissioned, owned or governed by consortia. <\/p>\n<p>But, it\u2019s now a decade later and consortia are still tied to private-permissioned implementations. The enterprise blockchain space simply can\u2019t ignore evolution. Greater interoperability and the incoming wave of Web3 mean that we need to reassess the pivotal role played by blockchain consortia in the equation.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Will_DAOs_replace_consortia_in_the_enterprise_space\"><\/span>Will DAOs replace consortia in the enterprise space? <span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>For enterprises, new incoming infrastructures and the role played by decentralized autonomous organizations (DAOs), leveraged by smart contracts and governance protocols, might as well replace the blockchain consortia as the industry focal point. DAOs have even grabbed the attention of more conventional investors including billionaire Mark Cuban who <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/mcuban\/status\/1399498072623927301\">called<\/a> them \u201cthe ultimate combination of capitalism and progressivism.\u201d \u201cThe future of corporations could be very different as DAOs take on legacy businesses,\u201d he <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/mcuban\/status\/1399498071873134592\">tweeted<\/a> in May, \u201cif the community excels at governance, everyone shares in the upside.\u201d <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">The future of corporations could be very different as DAOs take on legacy businesses. It\u2019s the ultimate combination of capitalism and progressivism. Entrepreneurs that enable DAOs can make $. If the community excels at governance, everyone shares in the upside. Trustless can pay<\/p>\n<p>\u2014 Mark Cuban (@mcuban) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/mcuban\/status\/1399498071873134592?ref_src=twsrc%5Etfw\">May 31, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Venture capital firm Andreessen Horowitz, or a16z, has also led multimillion-dollar fundraising rounds in both individual DAOs and companies that support DAO creation. But, DAOs make sense only in specific contexts and not all fields of enterprises seeking alignment can actually execute this notion. Look out for very exciting <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> in this field in 2022.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>DAOs are the foundation of Web3, the creator economy and the future of work<\/em><\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"So_where_can_consortia_serve_best_Defining_the_standards_not_the_network\"><\/span>So, where can consortia serve best? Defining the standards not the network <span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Agreeing on a unified data model, for instance, would represent a huge leap forward for most ecosystems. And, it\u2019s certainly not impossible. When Contour and GSBN (thought to be competitors) collaborated on a model to drive digitization across the global shipping industry, this positively drove interoperability for the users of both Contour and GSBN\u2019s solutions. This is where consortiums play their part to provide corporations and businesses with the ability to work collaboratively and achieve a common goal.<\/p>\n<p>Industry consortia, with great efforts, have no real way of competing with the insane pace of the tech industry constantly creating solutions, platforms and networks. If they choose to stick to defining exactly what the stack should look like, they are bound to remain irrelevant very quickly. If they choose to define standards that could make adoption of any stack for transformation, they will drive value for the enterprises they serve. Voting and achieving a consensus on features or a joint roadmap will happen without inter<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>ries in the Web3 era.<\/p>\n<p class=\"post-content__disclaimer\"><em>This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.<\/em><\/p>\n<p class=\"post-content__disclaimer\"><em>The views, thoughts and opinions expressed here are the author\u2019s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.<\/em><\/p>\n<div>\n<div style=\"background: rgb(239, 239, 239); border: 1px solid rgb(204, 204, 204); padding: 10px;\"><strong>Ruth Levi Lotan<\/strong> is a vice president of sales and marketing at ClearX. She is a partnerships enthusiast with a background of more than five years in business intelligence and strategic consulting, working with leading enterprises with a global footprint. Her experience also includes over three years in financing and impact investment including business development efforts with institutional investors and the government sector. Ruth was also involved in the work around Israel\u2019s first Social Impact Bonds (SIBs), a mechanism for unique cooperation between sectors that don&#8217;t typically align. <\/div>\n<\/div>\n<p><template data-name=\"subscription_form\" data-type=\"crypto_biz\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/the-post-consortia-era-how-enterprises-are-embracing-web3-structures\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; The post-consortia era: How enterprises are embracing Web3 structures &#8220; Now that the initial hype surrounding blockchain applications and the prolonged blockchain \u201cwinter\u201d that followed are left behind, we now find ourselves in the middle of a \u201cspring\u201d that is helping organizations reimagine how they deliver value. So much so that blockchain is expected&#8230;<\/p>\n","protected":false},"author":1,"featured_media":412626,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDMvZWJkMjA0ZWYtOGY3ZC00MDVhLTkzYmEtMWQ2Mjc5ZTAyYTMyLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74894,75186,75885,93542,117,4965],"class_list":["post-412625","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-blockchain","tag-dao","tag-enterprise","tag-web3","tag-business","tag-technology"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/412625","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=412625"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/412625\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/412626"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=412625"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=412625"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=412625"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}