The post-consortia era: How enterprises are embracing Web3 structures

cointelegraph.com:

Now that the initial hype surrounding blockchain applications and the prolonged blockchain “winter” that followed are left behind, we now find ourselves in the middle of a “spring” 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, according to PWC. 

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’s hard to overstate how much enterprises stand to gain, especially when considering the emergence of more agile competitors.

But, while small and medium businesses (SMBs) are faster and more nimble in adopting new technology 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.

Related: Enterprise blockchain of today: While some fail, others show potential value

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 “old world” consortiums. We started seeing the foundation of various