Stefan Xhunga’s Post

1. People and businesses are now doing more In digital world than ever before….. 2. Initiatives like the EU identity wallet and equivallent developments globally will take our digital footprints to new levels ….. 3. AI and AI agents/worlers will play an increasing role in our digital interactions, and they will be intelligent enough to communicate with us using images and personas which will have the most impact…… 4. The global population is now over 8 billion and resources like land are scarce… what if supply of scarce resources could be extended in the digital world? What would the economics of infinite digital supply be on things like education? 5. A recent survey in Europe estimated that over 44% of the working population did some work at home…. The office and workplace is moving to online with digital collaboration environments which can service worlers from global locations is talking over… and laying the foundations for AI workers to be part of these workforces and collaborations… Is this (1-5 above) the beginning of ‘The Business of the Metaverse’ ? How important is the metaverse to incorporating ‘AI on earth’ ? Will Web3 and tokenization be the new form of digital ownership, valuation and will peer-to-peer be the transaction method ? And will blockchain provide the trust and solve the double spend problem? In my book “The Business of the Metaverse”….I explore the evolution of the digital world and the role of Web3 and AI for businesses, and it is clear that like the internet and e-commerce eras… the new digital metaverse will change the business landscape…. #metaverse #koganpage #web3 #ai #davidpalmer https://lnkd.in/eK8v4_9Z

📍 Even building avatars needs a map. 84% of industry experts think that having clear rules is super important for bringing top talent into the metaverse. This report looks into the requirements and impact of the #metaverse, especially on financial services. Here are my takeaways: 🔶 The metaverse is creating new ways for financial services to engage with customers and deliver services. 🔶 Hong Kong is emerging as a leader in metaverse development due to its supportive regulations and strong financial infrastructure. 🔶 Over 90% of Hong Kong's financial institutions are aware of the metaverse,. 65% are actively exploring it. 🔶 Current metaverse applications in finance focus on marketing, internal use, talent recruitment, and workplace events, but less on investment tools, and sales channels. 🔶 The metaverse needs advances in network, display, computing, and blockchain technologies to really take off. 🔶 The metaverse will increase customer engagement. But there are hurdles like data privacy concerns, limited features, and a shortage of skilled talent. 🔶 Education and training programs are important for developing the skills needed in the metaverse. 🔶 Ongoing tech and infrastructure advancements are needed to support the metaverse's growth and integration into financial services. Public and private sectors need to collaborate to make it easier for businesses to enter the metaverse and grow the ecosystem. #Fintech #Metaverse #Web3 

Dive into the Metaverse: A New Economic Frontier Beckons Imagine a world where you can work, learn, shop, and socialize, all within immersive, interconnected virtual spaces. This is the metaverse, a potential future fueled by extended reality (XR) technologies like VR, AR, and MR. But beyond the hype, what are the real economic implications of this digital frontier? 1. Blurring the Lines: The metaverse could break down barriers between tradable and non-tradable sectors. Think Indian teachers virtually tutoring students in Argentina, or doctors in Bangalore conducting consultations across Europe. This globalized marketplace could unlock new opportunities and redefine how we work and learn. 2. Seamless Borders: As physical limitations fade, the metaverse could foster greater cross-border integration. Imagine tapping into a global talent pool for specialized work, or selling your services to clients worldwide. This economic interconnectedness could boost productivity and efficiency. 3. Governance Challenges: But with opportunity comes complexity. How will we regulate cross-border activities in these virtual worlds? What about privacy, liability, and consumer protection? Open dialogue and collaboration will be crucial to ensure the metaverse benefits everyone. 4. Payment Revolutions: Seamless virtual transactions require a robust payment infrastructure. While cryptocurrencies like stablecoins have limitations, central bank digital currencies (CBDCs) and real-time payment systems offer promising solutions. Imagine instant, secure payments across borders, no matter where you are. 5. Guardrails for Innovation: As the metaverse evolves, we must establish ethical guardrails around identity, privacy, and data protection. This will prevent walled gardens and exploitation, ensuring the metaverse remains a force for good. The metaverse is still in its early stages, but its potential impact is undeniable. Will it be a utopia of opportunity or a dystopian nightmare? The answer lies in our choices today. Let's embrace the possibilities while shaping a responsible future for this exciting new frontier. P.S. What are your thoughts on the metaverse and its economic implications? Share your insights in the comments below! #metaverse #futureofwork #economics #innovation #web3

Excited to share insights from the latest BIS Papers on the 𝗲𝗰𝗼𝗻𝗼𝗺𝗶𝗰 𝗶𝗺𝗽𝗹𝗶𝗰𝗮𝘁𝗶𝗼𝗻𝘀 𝗼𝗳 𝘀𝗲𝗿𝘃𝗶𝗰𝗲𝘀 𝗶𝗻 𝘁𝗵𝗲 𝗺𝗲𝘁𝗮𝘃𝗲𝗿𝘀𝗲 by Carlos C., Cecilia Franco Mejía and Jon Frost from the Monetary and Economic Department. 𝗛𝗲𝗿𝗲'𝘀 𝗮 𝗯𝗿𝗲𝗮𝗸𝗱𝗼𝘄𝗻: 1️⃣ 𝙄𝙣𝙩𝙧𝙤𝙙𝙪𝙘𝙩𝙞𝙤𝙣: Despite initial hype, doubts persist about the credibility of metaverse claims. This paper explores the economic impact, suggesting potential macro effects and the need for efficient payment systems and clear standards on data privacy. 2️⃣ 𝙊𝙧𝙞𝙜𝙞𝙣𝙨 𝙖𝙣𝙙 𝙂𝙧𝙤𝙬𝙩𝙝: Originating from Neal Stephenson's novel Snow Crash, the metaverse requires immersion, real-time interaction, and user agency. Despite low VR adoption, alternatives like AR and virtual worlds (e.g., Roblox) gain traction. 3️⃣ 𝙎𝙚𝙧𝙫𝙞𝙘𝙚𝙨: VR offers promising applications in online learning, telemedicine, and gaming. Revenue estimates could reach $490 billion by 2030, with gaming and e-commerce leading. Challenges include technological barriers and educational inequalities. 4️⃣ 𝙋𝙖𝙮𝙢𝙚𝙣𝙩𝙨: Payment methods vary, with cryptocurrencies preferred in blockchain-based applications. Challenges include token stability and emerging methods like CBDCs and cross-border initiatives. 5️⃣ 𝙄𝙢𝙥𝙡𝙞𝙘𝙖𝙩𝙞𝙤𝙣𝙨: Metaverse adoption could blur sector lines, increase international integration, and drive demand for cross-border transactions. Public policy considerations include data privacy, competition, and governance frameworks. 6️⃣ 𝘾𝙤𝙣𝙘𝙡𝙪𝙨𝙞𝙤𝙣𝙨: Despite the distance from full potential, gaming, education, and healthcare applications could address real needs. Public authorities must assess development direction, considering principles like competition and data privacy. Source: https://lnkd.in/eqzm9vkd #Metaverse #VirtualReality #AugmentedReality #Economics #DigitalTransformation #Innovation #Research

🌐✨ Demystifying the Metaverse: Unveiling Three Transformations 🚀🔍 Apple's Vision Pro is reigniting the metaverse conversation, bringing us back to the forefront of technology's next frontier. Let's revisit the metaverse, a concept that stole the spotlight before GenAI's rise, and Web3 took center stage in 2022. 🔮 McKinsey's Projections: In 2022, McKinsey projected a USD 5 Trillion metaverse market by 2030. A bold prediction that missed the mark. However, Apple's Vision Pro and a recent BIS report shed light on three transformative ways the metaverse will reshape our world. 🚀 Key Transformations: Blurring Boundaries: The metaverse will break down barriers between tradable and non-tradable sectors, transforming education and enabling realistic interactions between users across distant locations. Cross-Border Integration: Geographical constraints inhibiting service exchange may dissolve. Institutions, teachers, healthcare providers, and more could effortlessly offer services globally, fostering greater cross-border economic integration. Payment Revolution: Metaverse services will drive a surge in demand for real-time and cross-border transactions. The competition for dominance includes traditional payment cards, digital providers, cryptocurrencies, CBDCs, and FPS. Winners stand to witness increased adoption, impacting both the virtual and real worlds. 🌎 Straight Talk: Apple's Vision Pro sparks renewed interest in the metaverse's potential impact. Despite dystopian images, the metaverse holds real-world transformative power. Payment dynamics in the metaverse may reshape real-world transactions. Contrary to BIS, dominance in real-world payments could dictate metaverse success. 💡 Insightful Perspective: Payment systems ruling the real world are likely to dictate the metaverse landscape, challenging the belief that the metaverse is a launchpad for success in reality. 🚀 Final Thought: As we witness the evolution of payment methods in the metaverse, "old school" approaches are currently taking the lead. The metaverse's impact on payments may be transformative, but the real world's influence remains a driving force! Join the discussion on the metaverse's real-world implications! 💬🌐 #MetaverseInsights #TechTransformation #PaymentRevolution

Metaverse is confusing. It is often interchangeably used with #web3, Web 3.0, semantic web, #spatial web, #3D internet... Bloomberg predicts it will reach $800bn in 2024. World Economic Forum highlights it will be accelerated by #GenAI, and Statista foresees user penetration growing three-fold, hitting 18% and exceeding 1.4bn by 2030. Citi also predicts that the market could reach $8-13tn by then. The compound annual growth rate (CAGR) from 2023 to 2027 is predicted to be staggering 69.2% by Fortune Business Insights™. This surely is a bullish case, but in any case, the market should probably be taken seriously. I currently prefer to call it Web 3.0, but here is a good and easy-to-follow 2020 report by Deloitte, where they refer to it as the spatial web with three layers: physical, digital information, and spatial interaction. It certainly outlines things well visually and helps establish the fundamentals to build commercial awareness on. - ➤ Metaverse may be $800 billion market, next tech platform https://lnkd.in/ecnpidRg ➤ Metaverse - Worldwide https://lnkd.in/eD73_evq ➤ Metaverse and Money – 2022 Citi Report https://lnkd.in/eSvP7er5 ➤ Fortune Business Insights https://lnkd.in/ehwqcUTr - Authors: Allan Cook, Mike Bechtel, Sandy Mathews, Siri Anderson, David R. Novak, Nicole N., Jay Parekh.

🌐 Unlocking the Industrial Metaverse: A Paradigm Shift in Business and Society 🚀 The industrial metaverse, a groundbreaking sector poised to revolutionize how we interact with real-world systems, transcends traditional virtual realms. Fueled by technologies like digital twins, AI, extended reality, blockchain, and cloud computing, the industrial metaverse promises fully immersive, collaborative, and trusted experiences. 🌐 Key Insights: Immersive Collaboration: The industrial metaverse goes beyond being a digital world—it's immersive, collaborative, and open for seamless interactions, creating an interface that mirrors and enhances the real environment. Technological Convergence: Digital twins, AI, extended reality, blockchain, and cloud computing converge to create a powerful interface, enabling real-time simulations and representations of complex systems. Transforming Work Processes: The industrial metaverse is set to transform work methodologies. Businesses can model, prototype, and test designs in a virtual, physics-based environment, optimizing decision-making before committing physical resources. Real-World Problem Solving: By facilitating real-time, immersive problem-solving, industrial metaverse tools allow businesses to tackle real-world challenges digitally, driving innovation and efficiency. Cleaner Connection: The metaverse serves as a bridge between the messy, complex real world and the cost-effective, efficient virtual world, facilitating a cleaner and more accessible connection. 🔮 Future Impacts: Constant Information Exchange: The industrial metaverse enables a continuous exchange of information, transforming how organizations operate and unlocking societal benefits. Digital Twin Advancements: Photorealistic, physics-based, AI-enabled digital twins form a core building block, revolutionizing design, engineering, testing, operations, and training. Radical Changes in Everyday Life: From work and living to manufacturing and travel, the industrial metaverse will reshape everyday experiences, solving real problems and promoting sustainability. 🌐 Challenges and Opportunities: Emerging Capabilities: Connectivity, computational power, digital twin fidelity, interoperability, privacy, and security are critical for metaverse development. Ecosystem Building: Marketplaces, payment systems, and regulatory frameworks need careful design to support metaverse tools and applications. Partnership Necessity: Cross-industry collaborations on standards and infrastructure are essential, encouraging partnerships among organizations, suppliers, competitors, and governments. 🚀 Embrace the Future: The industrial metaverse signifies a paradigm shift, offering unparalleled opportunities for innovation and collaboration. Stay tuned for the transformative journey ahead! 🌐🤖 #IndustrialMetaverse #Innovation #DigitalTransformation #FutureTech

Hello 👋 my dear connections I am here to share about the article related to management and administration and the topic is... Topic:Exploring Management and Administration Concepts in the Metaverse Introduction: The concept of the Metaverse, a virtual reality space where users can interact with a computer-generated environment and other users, is rapidly gaining prominence. As this digital realm evolves into a parallel universe with its own economy, social dynamics, and governance structures, it becomes essential to explore management and administration concepts within this virtual domain. Challenges and Opportunities in Metaverse Management: 1. Virtual Economy Management: In the Metaverse, virtual currencies, assets, and transactions form the basis of a complex economy. Administrators must navigate issues such as inflation, market regulation, and fraud prevention to ensure a stable and prosperous virtual economy. 2. Community Governance: As virtual communities thrive within the Metaverse, administrators face the challenge of maintaining order, resolving conflicts, and fostering inclusive environments. Effective community governance strategies involve establishing rules, dispute resolution mechanisms, and systems for community engagement. 3. Content Moderation: With user-generated content shaping the Metaverse landscape, content moderation becomes crucial to uphold community standards, prevent harmful behavior, and protect users from exploitation. Administrators must implement robust moderation policies while balancing freedom of expression and user safety. 4. Virtual Asset Management: Managing virtual assets, including digital real estate, avatars, and virtual goods, requires administrators to address issues such as ownership rights, asset valuation, and asset protection against theft or manipulation. 5. Data Privacy and Security:Protecting user data and privacy in the Metaverse is paramount. Administrators must implement stringent security measures, encryption protocols, and data protection policies to safeguard user information from breaches and unauthorized access. Strategies for Effective Metaverse Administration: 1. Transparent Governance Frameworks: 2.Collaborative Decision-Making: 3. Innovative Technology Solutions: 4. Educational Initiatives: 5. Ethical Considerations: Conclusion: As the Metaverse emerges as a transformative digital frontier, effective management and administration are essential to ensure its growth, sustainability, and positive impact on society. By addressing the unique challenges and opportunities inherent in virtual environments, administrators can cultivate vibrant communities, foster innovation, and uphold ethical standards, thereby shaping a Metaverse that enriches the lives of its inhabitants and transcends the boundaries of the physical world #snsinstitutions #snsdesignthinkers #designthinking

A book like no other! "THE BUSINESS OF METARVERSE" Secure your copy: https://lnkd.in/e_MMN-RP David Palmer has written this amazing book which can only be described as a book like no other and a MUST read. A tour de force into the future - David Palmer is able to connect the dots of the metaverse, painting a picture of how a multitude of emerging technologies will form our joint digital future. A clear must-read for anyone interested in learning about today's technologies and how business and people will be affected by it.

Hot take: While a true metaverse doesn't exist yet, many of its concepts are already relevant to businesses. Here are the 6 actionable steps companies can take to prepare for this digital frontier: Near-term actions: 1. Get up to speed: Assign resources to understand key concepts like cryptocurrencies and decentralized autonomous organizations. Stay informed about the evolving metaverse landscape. 2. Develop a strategy: Identify gaps and long-term opportunities. Consider recruiting digital natives and focus on technical measures like making services extensible and developing security plans. 3. Test the waters: Start with low-risk opportunities. For example, sell digital versions of physical goods, offer virtual tours, or launch NFTs to enhance brand awareness. Some companies might even consider buying or leasing digital real estate for sales and customer support. Long-term foundations: 4. Focus on trust: Address new challenges in cybersecurity, privacy, and regulatory compliance. Communicate your metaverse initiatives and risk mitigation strategies to stakeholders. Consider using blockchain and AI for authentication. 5. Rethink core competencies: Assess what offers a competitive advantage in a shared, decentralized digital environment. You may need to upskill, recruit new talent, or develop new approaches to data and business relationships. 6. Align physical and digital: Ensure a consistent brand experience across both physical and digital realms. Your metaverse presence should complement your physical and existing digital experiences. Innovation is accelerating to transform the digital economy, enhance interoperability, create ownable digital identities, set new governance rules, and create more immersive and persistent digital experiences. What are your thoughts on the metaverse? Is your company taking any steps to prepare? #metaverse #digitaltransformation #businessstrategy