More APIs = loss of control
On the journey towards decentralized compute, businesses face a critical challenge: loss of control. The more you open up your compute, the less control you have over where it runs. Additionally, the more you rely on third-party APIs and shared data between partners, the less control you have over the code and data that runs your business.
But just because you can’t control something, doesn’t mean you can’t mitigate risk. Welcome to the trustless world.
Similar to Bitcoin, trustless means you can trust a decentralized compute platform without having previous trust on any of its participants. This enables a gain in transparency and provenance for data used in AI and other automated processing, without actually knowing or trusting the other parties involved.
Transparent, Web3 protocols allow you to trust the code, data, and results provided by your compute infrastructure. The growing need for trustless compute is already evident in areas where risk exceeds the ability to trust, such as public APIs, regulated industries, and core financial controls. As demands on businesses to work collaboratively with trading partners and customers increase, Web3 can provide the trust and transparency needed.
The next 5+ years for enterprise: reframing trust for the enterprise
The cloud has transformed the way we build systems inside organizations, and the next 5-10 years will see a massive acceleration in systems built outside organizations. According to IDC, within the next 5 years, 80% of enterprises will be part of industry ecosystems that will need to rely on decentralized Web3 code.
Source: IDC FutureScape: Worldwide Future of Industry Ecosystems 2023 Predictions
As APIs become more central to business functionality, technology teams will need to encapsulate the value adds of their company into microservices (APIs) that can be offered externally, as well as consume the microservices offered by other organizations.
As the APIs provided today become central to the widespread functionality of other businesses, the concept of trust will need to evolve. In this world, trustless compute is foundational to long-term business continuity and security. Web3 provides a layer of trust built into the design and operation of the APIs that is transparent, immutable, and self-evident.