Enterprise blockchain has come a long way since its inception in 2017. Blockchain for enterprise use initially began as a technology built on private, permissioned networks, primarily used for supply chain management. As blockchain matured overtime, enterprises began to leverage public, permissionless networks like Ethereum to conduct business.
Fast forward to 2021 — enterprises are now applying decentralized concepts to create more efficient workflows in the Metaverse. William Herkelrath, head of business development at Chainlink Labs — a decentralized oracle network — told Cointelegraph that while the Metaverse is hard to define, he believes that it’s a collection of ecosystems that are growing naturally out of decentralized finance, or DeFi: