Trust emerges as the path forward for digital assets in 2023

Even as the Disruptive technology is left behind. the Future of digital assets — or any asset minted and exchanged on a blockchain — is yet to be decided. But after the chaotic year that crypto saw, there’s at least one certainty: Trust It is now more important than ever the The advancement digital assets. Almost half (49%) of consumers state they will start or increase purchases from a company based on trust alone, and companies need consumers’ trust to create new business opportunities for blockchain.

However, how can businesses build strong trust to deliver results?

Half of all consumers believe that accountability is essential the most important factor for Businesses must build trust between them and employees. Customers expect that businesses will admit to mistakes and provide consistent communication to help regain their trust. Rebuilding trust is possible with digital assetsCompanies that are able to plan, implement, and keep their customers safe will win their trust. 

Building trust in digital assets

After a turbulent 2022, businesses need to rebuild trust by investing in compliance, security, transparency, and other measures. This is not an unusual cycle. for The public is often interested in emerging technologies, but they are not always able to be proven. 

Companies that bloom as Leadership in digital assets Those who quickly implement third party validation will win. Secure custody and transfer will be demonstrated by companies who demonstrate this ability. digital assets Reengage customers who are tired of being ignored the technology. 

This is why companies need to learn from the Books of traditional financial institutions These books come with an approval seal from the public making the Integration digital assets Comfortabler for Customers are looking to expand their reach into the space. 

Traditional asset management and custodial companies, for example, are reaping the benefits of their good reputation as Look out for investors for You can store them in a secure location digital assets. Traditional banks also use proprietary blockchains in order to decrease cross-border transaction cost for They are their customers. 

You can find more information here the Contrary to popular belief, traditional financial institutions may also seek trust. in digital assets You can absorb technologies and talent. digital Asset natives These steps will help companies build trust. for digital assets It will be wide open. 

Here’s what else is in Store for digital assets in the Coming year, so much to come as Companies ensure trust the Fundament for These are some examples.

Social media as a catalyst for digital Asset use

There are many social media companies. the Chance to make a difference path Wide acceptance digital assets. We’ve seen social media companies evolve their platforms to meet consumer needs and gain users with unprecedented speeds in the The past several years.

To stimulate digital assets’ acceptance, we can expect to see social media companies become payment platforms and process cryptocurrency transactions in the in the near future. This is a great opportunity for these companies to manage cryptocurrency transactions. for Customers to use digital assets With more fluidity

Digital assets Also, they offer what consumers want for It will be a while: A greater ability to manage online identities and data. For example, a secure identity token that allows users to own their online identities may soon become an integral piece to social media companies’ and digital assets’ growth alike.

A user may want to see ads from a specific retailer. They have the ability to control the These ads will be delivered to your email address. digital identity. And, when they don’t want them anymore, they simply pull their identity info back from that retailer. 

These are just a few examples digital assets Users can expect to become better integrated with social media and will be more adept at transferring digital assets More often, I like NFTs in Years to come.

NFTs are a new way to develop business strategies

The NFTs are available. the Unique ability to combine physical and virtual digital objects which can be opened the door for the Business enhancements can be made possible by technology

Accelerated rate for the NFTs will enable businesses to exchange data, allowing them to develop and improve new business models. Many of the following will be available in 2022 the focus was on certain NFTs’ values, which skyrocketed above reasonable prices.

2023 we’ll see an expansion of NFT use cases, as NFTs are expected to increase the Providing a business-to consumer experience through operating in A seamless, invisible method to facilitate data exchange. This will increase the security and authenticity of your data.

Almost half U.S.-based businesses have roles that focus on NFTs, or cryptocurrency. 20% of CEOs state that NFTs can be implemented. as It is an integral part of their business strategy. These numbers will increase. in the Year ahead When a company identifies itself, it is able to plan for the future. the NFTs will support the best areas. digital assetsThese strategies are easy to incorporate into your daily life. the A larger business plan. 

This was the most successful year in recent years the Potenzial of digital assets It is a disruptive, powerful technology. This is why blockchain will not disappear, although trust must be restored. It will evolve as businesses and consumers demand it. Companies that anticipate consumer concerns and needs. in This digital They will stand out from their competition in space.

John Oliver co-leads PwC’s FinTech trust services practice.