How Metaverse can flip your Digital Transformation?
Prologue: This article is not about the Metaverse fact-checker or myth buster.
Irrespective of any version of Metaverse such as Microsoft Metaverse, Facebook Metaverse, Decentraland, Roblox corp, Apple, etc, this article is for the “early adopters” to know what will be changing in their existing Digital operations, and what needs to be considered to prepare for their business in a Metaverse universe.
Knowingly or unknowingly running Digital Transformation laid several paths for technology and operational “Centralization”. The key elements are apps, data, knowledge, and user experience. So far running Digital Transformation has transformed several successful organizations’ business models to save cost, enable ease of access, and seamless business execution.
For Metaverse, “Decentralization” is the core, here enterprise apps are not developed locally with the focus on straightforward user requirements, as well as apps are not merged in any centralized repository, integrated, and packaged to deploy on any predefined single servers. Importantly, apps are not designed to store data in the designated database, either locally or in the cloud.
In an ideal 3D virtual world of Metaverse, apps are built on blockchains as secured decentralized networks with several peer-to-peer nodes, mostly in a hybrid environment to enable high-quality services for a stable operating environment that depicts the “dematerialization of physical entities”. These apps are known as decentralized apps “DApps”. Most financial transactions are performed with a “non-fungible token”, that securely stores digital data on a blockchain, in the form of a distributed ledger. The ownership of an NFT is recorded on the blockchain and can be transferred by the owner, allowing NFTs to be sold and traded.
Where is the starting point for a major change?
“Connected Technologies” to run the entire ecosystem. Connected Technologies is nothing but the existing technologies like 3D, blockchain, virtual reality, artificial intelligence, augmented reality, mixed reality, IoT, human interfaces, wifi6, geo-mapping, NFT mining, and cryptocurrencies in a new way of working together for Metaverse, mostly with the foundation of Web 3.0
Web 3.0 is the Semantic Web, designed to empower users to access their data through trust, i.e. rightfully control of their data, security, and privacy. As Web 3.0 favors a decentralized web, it could serve as the basis for connectivity in the Metaverse. This enables individuals to provide services to each other and control the entire aspects of the internet without needing help from other technology companies.
These modern apps are self-capable of reading, writing, and executing codes in a distributed decentralized environment, Machine Learning and decentralized protocols enable computers to analyze data like how human does today and generate intelligence to distribute valuable actionable content to peer nodes according to a user’s/organization’s specific needs. The best example for Web 3.0 is Apple Siri, designed with the 4s model (Skills, Staff, Structure, and Strategy); the AI assistant in Siri brings more expanded capabilities.
A Bolt from the blue
For any common user, Metaverse is a new way of using the internet with the transformation from 2D to 3D. Instead of users browsing web content by clicking and moving different website menus on standard 2D monitors, this web content is transformed into 3D objects. The webpage is transformed into a 3D space where users can walk around inside, buy, sell, collaborate with others, and even work over the web. With the power of virtual reality, users can even have an immersive experience visually and physically.
What is unfortunate?
Companies like Meta, and Microsoft are creating their Metaverse in a closed centralized way to keep themselves as a governing body or identity providers; i.e. users who created digital identities and content on their platforms are stored on their centralized servers and users don’t have any control over their data. These companies are trying to become a monopoly, technology provider, and decision-makers as well as wants to own user’s data all at the same time.
Applications
Metaverse is still under development and the potential domain areas are still under scrutiny, but applications of Metaverse can be foreseen.
§ Virtual shopping
§ Digital currency transaction
§ Physical reality workplace
§ Virtual Infrastructure
§ Digital Asset
§ Virtual collaboration
§ Digital Commerce
The metaverse of Web 3.0 will shape the future with a decentralized digital environment that combines a digitally enhanced physical reality universe. Whatever the case, when your time comes to get into the Metaverse universe, don’t forget to take your digital wallet for shopping!!
