TBtech March Edition

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STORIES INSPIRED BY MODERN LIVING.

MARCH 2023

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FOCUSING ON THE METAVERSE & WEB3.0.

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The era of software-defined everything is pushing the pace of innovation and transforming market segments ranging from aerospace to industrial, defense to medical, and networking to automotive.

DELIVERING EV CHARGING INFRASTRUCTURE TO MEET 2030 NEEDS.

Those responsible for the deployment of EV infrastructure need to understand their user’s needs, which should inform long-term roll-outs, and design procurement processes that incentivise charging point providers to deliver quality long-term deployments.

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Meet your tbtech team.

Joe has vast experience and knowledge accumulated and honed as a New Business Development Manager and Relationship Manager. Responsible for generating new business opportunities, looking after the growth of the company and strategy, sourcing new ventures and managing the company.

Luke is Digital Editor at TBTech and has history working closely with the worlds biggest tech brands to deliver campaigns. Luke is an advocate of tech across business and commercial applications.

Paul stops at nothing to innovate and create value for our customers. His mission is help those we work with to win in their markets. Passionate about delivering customer success and have had the pleasure of supporting many of the world’s leading technology brands for over 15 years.

JOE ALLEN

LUKE CONRAD

PAUL WHITTALL

We have been working behind-the-scenes to elevate the readers experience.

Erin’s love for advertising and design has led her to Tbtech as a Media Marketing Apprentice. As a new member of the team, she is looking forward to exploring new skills and learning more about the tech sector .

Driven by storytelling, Jessie’s writer-designer duo allows her to combine the power of synergy across different mediums. She believes a strong marketing strategy begins with understanding the brands mission and audience, together with the market, in order to position yourself as a leading brand, speaking directly to your clients and customers desires.

William’s passion starts and ends with design, timeless aesthetic and creative solutions. Having worked on numerous creative campaigns ranging from car manufacturers, leading tech companies, property investors as well as local artisans, the goal is to create the ultimate brand experience between the client and the consumer.

Matt is Operations Manager at TBTech, he has spent the last 15 years working with multinational IT companies building campaigns, GTM strategies, leading both Sales and Marketing teams to achieve organisational goals. With a love of computer science, history, and psychology he is an advocate for change, operational efficiency and automation. Value across the business for all our customers.

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Retail in the metaverse: The role of dispute resolution in a virtual world.

The metaverse has been billed as a game-changer that will transform the way we work and live, and it has endless possibilities to meet our shopping needs too. While initially dispelled by some as a gimmick, metaverse platforms have already proven to be thriving settings for commerce. But as more people virtually flock to the metaverse to spend their hardearned cash, retail disputes may become more commonplace. As the metaverse is likely to become a long-term fixture in our lives, dispute resolution services may need to evolve to be able to provide their real-world services in the virtual world too.

By Ciarán Harkin, Managing Director at Dispute Assist.

Retail in the metaverse: The role of dispute resolution in a virtual world.

THE SCOPE OF RETAIL IN THE VIRTUAL WORLD

Shopping is a popular pastime for many metaverse users, and several major retailers have set up shop in this virtual arena. Sportswear giant Nike acquired RTFKT, a brand that creates sneakers that can only be worn in the metaverse. Clothing brands like Zara and Balenciaga have also planted their flags in the metaverse, as have home improvement brands like Lowe’s. In 2022, the US company launched its Open Builder service, a library of 3D assets representative of Lowe’s real-word offering which can be used in the metaverse for a variety of building and construction purposes.

But, as is the case in the real world, disputes can occur in the metaverse’s retail sphere over issues like product quality or the delivery of goods. There may also be issues surrounding virtual property too. Platforms on the metaverse can establish their own policies which, in theory, can help create a fair and ordered systems for users to adhere to. But if these policies are broken, such as if properties do not adhere to the stipulated rules, that is when dispute resolution services may need to get involved.

While the metaverse may appear to be fun and games on the surface, the potential for genuine dispute is very real. The metaverse is a major financial platform, and through the use of cryptocurrencies and other virtual means of payment, many coins are exchanged every day. According to McKinsey, the metaverse has the potential to generate up to $5 trillion in value before 2030.

HOW MIGHT RETAIL DISPUTES BE SETTLED IN THE METAVERSE?

It stands to reason that disputes can be handled in the metaverse similarly to how they are handled now in the real world. Many think court action is the only option open to them to solve retail disputes, but alternative dispute resolution (ADR) can be more effective in most cases.

Those affected by disputes in the real world often find court waiting times and fees weigh heavily on their minds. As a result, many customers and businesses are turning to one of the many ADR methods available to them to resolve their cases. On the softer end of the ADR scale is mediation, where a conversation is facilitated between the parties in dispute – for example a home improvement retailer and their customer. Conciliation sees someone facilitate a conversation and ask questions, with the goal of both mediation and conciliation being that parties can reach a resolution on their own. At the more serious end of the scale is arbitration. If someone chooses to settle their dispute via arbitration, the arbitrator will usually be a legal specialist and the outcome is legally binding. This process can also be lengthy, in part because the reasons behind an arbitration decision will be laid out to both parties in dispute.

Dispute resolution service Dispute Assist offers a range of alternative dispute resolution (ADR) methods, including expert determination. A legal expert who usually has extensive experience in the field of the dispute will review the evidence and make a decision on how it should be resolved, making expert determination very similar to arbitration. But in the interest of saving time, the decision will not be presented to either party in writing. Due to this element, and the fact that an expert in the industry reviews the case, Dispute Assist has an average turnaround time of 5.2 days to reach resolution. Just like the outcomes of arbitration and court action, the result of expert determination is legally binding, and already swathes of businesses and organisations are embracing this trailblazing method to resolve disputes that emerge during their operations.

So with people’s real money on the line, how could dispute resolution work in the metaverse if disagreements arise? At the moment, legislation surrounding this topic has a lot of catching-up to do, and know one can predict exactly what commerce in the metaverse will look like years down the line. But companies that offer dispute resolution should start preparing, if they aren’t already, to extend their service offering to virtual customers too.

Is your business ready for WEB 3.0?

Web 3.0 is about to revolutionise the way businesses operate online: enabling new offering different monetisation opportunities. Up until now the internet has been centralised – Web 2.0 has been all about control by the big tech corporations (think Apple, Meta, Google, TikTok, Twitter and so on). These tech giants have had all the control in their hands – they have had the capability to delete users’ content without warning sometimes, and introduce new rules to how users engage with a particular app. They have been able to collect data and use it to create advertising spend – the monetisation coming not from the choice of users to spend but from putting unwanted ads in users’ way.

By Gary Knight. CEO at WOLF.

Is your business ready for WEB 3.0?

Now, Web 3.0 is here to offer an iteration of what we already have, but this development is going to put more control into consumers’ hands where they, until now, have been passive. For businesses across many sectors, this is an incredibly exciting area to develop. However, while Web 3.0 will give the power back to the consumer the question to ask is whether your business is ready for a move which will decentralise the system?

Here are four key questions about Web 3.0 which will help business leaders prepare for the next evolution of the internet as we know it:

1. HOW DO YOU ACHIEVE INTEROPERABILITY IN WEB 3.0?

Achieving interoperability in Web 3.0, as a digital business, is about introducing a common standardised ownership model that digital platforms such as websites and apps can enable.

This allows users to bring their personalities and owned digital belongings into a variety of different platforms, seamlessly.

The perceived wisdom among technology companies now is that it may be five to 10 years before these kinds of standard login methods are routine and commonplace – but Web 3.0 is a start. Existing tech companies, governments and decentralised organisations that are leading the way in Web 3.0 will need to sit down together and establish how it will work. And there are certain newcomer Web 3.0 native businesses that they can look to. Businesses such as Decentraland are likely to lead the way here.

The other consideration for enabling interoperability is around assets that are bought virtually. When someone has invested in owning virtual goods – owning them so they can sell them on, not just ‘renting’ them – it tells people a lot about their online persona. Consumers want to be able to display who they are and what belongs to them, across multiple online platforms.

The Web 2.0 equivalent would have been social sign-ons –for example, logging in with Facebook on different websites which brings over profile pictures and one’s network so Facebook friends can be invited to a new platform. With Web 3.0 this would be taking a digital wallet with cryptocurrency to spend, NFTs to potentially sell and a 3D customised avatar to display. The user finds these platforms interoperable and can use them to their benefit and enjoy a positive online experience.

2. HOW SHOULD A BUSINESS MANAGE USER DATA IN WEB 3.0?

Data, and the use of it, is a big focus in Web 3.0. The principle of Web 3.0 when it comes to data is that it is no longer about monetising people’s eyeballs by showing them adverts of things they might like to purchase – it’s about giving consumers control. Consumers will have more power over their data and how it’s used. Control over what businesses know about their browsing and spending preferences, and that revenue in Web 3.0 is more

driven by people able to purchase things and sell them on. Tech businesses, like ours, that really have a community and give that community control of their data and how it’s used, in a friendly and easy-to-use way, are likely to accelerate ahead of rivals who fudge how data is collected, still trying to monetise with adverts, or at least having that option.

Consumers will see through that so businesses must adapt to how they manage the user data they have access to.

3. WHAT ARE THE KEY CONSIDERATIONS FOR APP DEVELOPMENT IN WEB 3.0?

For centralised companies with advertising, affiliate marketing or ecommerce revenue models using fiat currencies, to incorporate interoperable logins, enable users to buy and sell things using cryptocurrencies and record everything on the Blockchain, all while making the experience seamless and well-supported for users, is no easy task.

It’s a big shift, and in Darwinian terms, those best at adapting are most likely to survive and thrive in the decade ahead. From the perspective of us at WOLF, our goal is to listen to our community as much as possible, to understand how they want take control of the festival experience that we offer, to own as much of it as possible and then we must deliver on that and offer different ways for event creators and producers to make money from it themselves.

4. WHAT WILL CHANGE ABOUT HOW BUSINESSES MAKE MONEY IN WEB 3.0?

This is all about platforms and users teaming up to create valuable experiences together, wherein they can mutually generate revenue.

The creative economy will continue to grow, with people making money from online activities as both a side-hustle and increasingly as a main source of income. Web 3.0 is already allowing people to buy virtual properties or artworks, let them appreciate and then sell them on for a profit.

If we use WOLF as an example. Web 3.0 allows mutual moneymaking by providing innovative experiences that consumers love and value while building in a variety of ways for those users to access and interact that require spending money.

The platform makes money this way – and community members acting as producers of these experiences will also be able to share in the money-making too. Amazing new experiences in mobile apps, websites and VR and AR that really entertain people and have them talking about it will drive enough value to have people spending money in the future.

While making money is of course important, from the users’ perspective it’s about a lot more than just that, so businesses must always remember that. There’s a degree of pure enjoyment of using cool technology. For us, it’s about our community getting instant gratification from live audiences and getting feelings of selfconfidence and self-esteem from being recognised and respected by their peers.

Web 3.0 is an exciting evolution and it’s time to start thinking about your customers and your business can adapt and benefit.

What is the Metaverse? What are the possibilities of what it can be in 2,5 and 10 years’ time?

The metaverse has been one of the hottest topics of discussion in the tech world for several years now. But with recent developments by tech giants like Meta, Google, and Epic Games, it’s becoming clear that the metaverse is no longer just a concept - it’s a reality. The Metaverse can have a substantial impact on our lives both in the short and long term.

By Albert Dalal, Managing Director, Data & Web3 Strategy at Publicis Sapient.

What is the Metaverse?

So, what exactly is the Metaverse?

In simple terms, the metaverse is a shared virtual space where people can interact with each other and digital objects in real-time. Think of it as a 3D version of the internet, where you can walk around, explore, and engage with others in a completely immersive environment.

In the next two years, we can expect the metaverse to become more mainstream and accessible to the average person. We’ll probably see more metaversebased games, social experiences, and even virtual marketplaces popping up. The technology will become more user-friendly, and the hardware and software required to enter the metaverse will become more affordable. As a result, more people will be able to experience the metaverse, and it will start to become a part of our daily lives, much like social media is today. The metaverse will also become a hub for entertainment and creative expression. We’ll see the emergence of new forms of art, music, and performance that are designed specifically for the metaverse. The metaverse will offer new ways for people to express themselves, and for artists to reach wider audiences.

As technology, affordability & in market experimentation advances, in five years, we can expect the metaverse to have significant presence in our everyday lives. For starters, we’ll likely see much more advanced graphics, improved haptic feedback, and more intuitive interfaces that allow for greater immersion. We could also see the emergence of a universal metaverse protocol, much like how the internet operates today. This would allow for greater interoperability between different metaverse platforms and would make it easier for developers to create experiences that can be shared across multiple platforms. By this time, we can expect to see more metaverse applications beyond gaming and social experiences. For example, we might see virtual conferences, training sessions, and even virtual tourism experiences. The metaverse will become a viable alternative to physical experiences in many cases.

The metaverse will also become a hub for commerce. We’ll see virtual marketplaces where people can buy and sell virtual goods and services. These could range from virtual clothing and accessories for avatars to digital assets like virtual real estate and artwork. The metaverse-based economy could become a lucrative industry, offering new opportunities for entrepreneurs and content creators.

Now, let’s fast forward to 10 years. By this point, the metaverse will likely be an integral part of our daily lives. We might see virtual assistants that help us navigate the metaverse, much like how Siri or Alexa helps us navigate the internet today. We’ll see more advanced AI and machine learning algorithms that allow for more realistic and dynamic virtual environments. And we might even see the emergence of a metaverse-based economy, where people can earn a living by creating or selling virtual goods and services.

The metaverse will also offer new opportunities for education and training. We might see virtual classrooms and training programs that are designed specifically for the metaverse. These could offer new ways for people to learn and acquire new skills. In addition, the metaverse will offer new opportunities for social interaction. We’ll see the emergence of new forms of social media that are designed specifically for the metaverse. These could allow people to connect with others from all over the world and engage in shared activities in virtual spaces.

Of course, there will be challenges along the way, such as issues around privacy, security, and access. But as the metaverse continues to evolve and mature, these challenges will likely be addressed, and the benefits of the metaverse will become more apparent.

One potential benefit of the metaverse is its potential to democratize access to information and experiences. The metaverse could offer new opportunities for people who might not have had access to certain experiences or resources in the physical world. For example, someone living in a remote area might be able to attend a virtual conference or concert in the metaverse, where they wouldn’t have been able to attend in the physical world.

Another potential benefit is the potential for the metaverse to foster greater empathy and understanding between people from different backgrounds. In the metaverse, people can interact with each other on a more personal level, regardless of their physical location or appearance. This could lead to greater understanding and connection between people from different cultures and backgrounds.

The metaverse is an exciting development that has the potential to change the way we live, work, and play in a digital world. In the next two years, we can expect the metaverse to become more mainstream and accessible, with more metaverse-based games, social experiences, and virtual marketplaces emerging. In five years, we’ll see the metaverse evolve significantly, with advanced graphics, improved haptic feedback, and a universal metaverse protocol allowing greater interoperability between different platforms. In ten years, the metaverse will become an integral part of our daily lives, with more advanced AI and machine learning algorithms, virtual assistants, and a metaversebased economy emerging. While challenges may arise, the benefits of the metaverse have the potential to be enormous, and it’s an exciting development to watch as it continues to evolve.

Stake Your Claim to Better Health: The Rise of Health-Data Staking.

Most people by now have heard of Web 3.0, which, in short, is formed on a foundation of blockchain technology,representing the future of the internet.. A significant trend that is set to revolutionize commerce and Web 3.0 over the coming years is data ownership and data-trading and staking, which have the potential to unlock Web 3.0’s full potential to both business and consumer.

By Bunmi Babajide, founder of CoralApp.

Stake Your Claim to Better Health: The Rise of Health-Data Staking.

Decentralized data marketplaces are the latest development in data trading. They use blockchain technology to enable secure, immutable transactions between buyers and sellers of data. This puts the user / consumer in charge of their own data, giving them both the freedom and control to keep it private, while offering them the option to monetize it by choosing who they share it with. Businesses, researchers and other individuals can bid to buy this valuable commodity, allowing them access to accurate and highquality data.

Benefits to business include: Data marketplaces provide access to exclusive datasets that are not available anywhere else, offering businesses a clear competitive edge

Data marketplaces offer quality assurance, the data you’re receiving is accurate and up to date.

Rather than spending weeks or months collecting and analyzing data, data marketplaces can provide an easy, hassle free way to gain the information you need - quickly.

Data marketplaces offer complete transparency regarding the sources and processes used, so the buyers can be sure they are receiving the highest quality data with a full disclosure of where it came from.

A great use-case for datamarketplace is with health-data staking and a solution CoralApp is currently developing. Undergoing a trial with BINANCE???????, the team at CoralApp is working with a community of 20,000 users to track their health and stake their data to better understand the process and what this looks like for both parties.

CoralApp was created because health data in particular is information that is often used against us. Everytime we exercise, go for a walk, jump on our bike we are being exploited; or rather our data is. There are millions of health data transactions taking place each hour, sold to the highest bidder to enable brands to market the latest fad diet or new range of leggings.

But, thanks to a brand new app, which is powered by blockchain and AI technology, the power is now back into the hands of the consumer

Central to CoralApp is the ability to motivate consumers and incentivize them to develop lifelong healthy habits, supported by cutting-edge technology and an inspiring healthy lifestyle community.

What makes CoralApp one of the most influential health apps in beta-testing currently is that it features a powerful and innovative data staking program. It allows users to stake their personal health data, such as fitness activity, sleep patterns, and nutrition, on the blockchain. By doing so, users can earn rewards for achieving their health goals, such as losing weight or hitting a certain number of steps per day. The rewards can be in the form of cryptocurrency, which can then be used to purchase health and wellness products or services.

But what makes this truly special is that a user can choose - and we emphasize the word choose, to activate the data staking feature. We don’t start tracking trends and selling this to the highest bidder. But choosing to stake their data, users of the app allow us access to their de-identifiable data.

We are then able to help our users monetize and make this data available on reputable marketplaces. The dataincentivization for their staked data will be powered by Ocean Protocol, a privacy-first protocol

that allows users to be rewarded for their tokenized data assets.

We believe that everyone has a right to privately collect and track their own health and activity data, not to mention own and control access to it– but also monetize the data if they so choose. On CoralApp, you’ll be able to stake your health data and tokens to earn more $CRL, while being part of a supportive and collaborative CoralApp network.

Digital natives – and ultimately the emerging generation Z –approach personal health in fundamentally different ways than their less digitally-savvy counterparts. They strive for a more holistic approach and a deeper understanding of their own health and wellness. Currently, these consumers are forced to rely on a global network of corporate organizations, centrally stored information, and data that then informs and influences their relationship with their own wellness.

We believe that our data staking program has the potential to revolutionize the health and wellness industry and we’re excited to be at the forefront of this new wave of innovation.

CoralApp is committed to moving Web 3.0 towards its next phase: an inclusive, healthy Web 3.0 for all. We’re building an accessible platform that harnesses Web 3.0’s transformational capabilities to propel you towards physical and mental health in your real body, while giving you true ownership over your data

Decentralized data marketplaces are still in their infancy, but they have great potential to revolutionize the way we trade data across many sectors. For CoralApp, health is a significant opportunity. Data-staking is a trend which is expected to grow over the coming months as businesses and brands recognise the value in this solution.

Why no business can afford to overlook the potential of WEB3.0.

It’s no secret that the Web is critical for businesses intent on scaling their operations and innovating. Web3 is the latest iteration of the Web – and it is the businesses that take advantage of its potential that will create new revenue opportunities and enhance operational efficiencies. For those that are not immersed in the tech world, let’s first define Web3. Web1 was ‘READ’, access data that was hosted on a network. Web2 added ‘WRITE’ – which enabled usergenerated content to be shared via apps like Facebook, Instagram, and Twitter. Web3 has added ‘OWN’. This offers users the ability to truly own in a digital context and not just have a digital representation of physical ownership.

By Alan Vey, CEO and Founder, Aventus.

Why no business can afford to overlook the potential of WEB3.0.

DAOS, NFTS, AND POSSIBILITIES FOR BUSINESS

With the definition dealt with, let’s explore the practicalities of Web3 and how businesses can benefit from it.

The key here is Decentralised Autonomous Organisations (DAOs). What separates DAOs from traditional corporate structures is that, as the name suggests, they are decentralised and completely autonomous. Rules and protocols of any given DAO are encoded as algorithms, represented by Smart Contracts (i.e., computer programs that run on the blockchain), and set by members of the DAOs.

If you are finding this a little jargon-heavy, let’s look at a case study to help explain things. The Bored Ape Yacht Club (BAYC) is hugely popular among crypto aficionados – it’s a set of 10,000 limited NFTs that resemble images of commercial apes, each with different traits.

BAYC has achieved success both in the crypto and in the mainstream, generating a total trading volume of $1.6B so far. Yuga Labs, the company behind BAYC, is valued at $4B.

The large-scale NFT DAO project continues to attract talent away from smaller blue chip projects and retain its user base, demonstrating the robustness of its community-led organisation.

Because NFTs are built on a blockchain ledger as one-of-akind assets, the exclusivity and scarcity are inherent, attaching value to them. NFTs are here to stay, and businesses will find new ways to utilise them to encourage further interactions and investment from their consumers.

Traditional companies can learn a lot from BAYC’s success. Although DAOs are set up in a way to remove complete control from a few select people in an organisation, this act is immensely empowering to those who contribute to the DAO as it gives them a firm stake in the organisation, fostering true loyalty within an engaged community.

This concept can be taken even further in the future , as Network States amass sufficient resources and individuals enter negotiations with Nation States to achieve high-level objectives around legislation, regulation and more.

DECENTRALISATION: A TOOL FOR BUSINESS TRANSFORMATION

NFTs have been an amazing showcase for blockchain and Web3 potential for businesses – but it should not overshadow the many other ways that Web3 technologies can be applied. Blockchain technology is a general-purpose tool with many functionalities and a strong facilitator of creating digital scarcity or providing secure value exchange.

The distributed ledger technology, which is the core component of a blockchain and enables items that live in the ledger to be truly immutable, can solve a multitude of pain points. Anything from improving audit traits for things like cargo and supply chain tracking to securing ticketing in the events industry to eradicate fraud and touting, blockchain enables organisations to become more secure, efficient and innovative.

But how would businesses benefit from decentralisation? While not every business will be naturally suited to adopting a decentralised model, for those that can implement it, it will allow them to share the functionality of the business across multiple points. For example, rather than having single data storage in one place, they can invest in multiple data storage points, reducing overreliance on a single data centre, and thereby improving efficiency.

Understandably, there will be some scepticism when it comes to adopting any nascent technology. But it doesn’t have to be all or nothing when it comes to adopting blockchain. Businesses can adopt ‘permissioned’ instances of networks - meaning they benefit from the speed, security and interoperability of a blockchain while maintaining full control over all transaction activity, and actually enhancing its anti-money laundering capabilities for example.

THE TIME FOR WEB3 IS NOW

The Web3 technology is developing at pace: NFTs are one of the strongest-holding assets in the current challenging economic landscape, countries are turning to CDBCs among global political turmoil and even the sustainability concerns around blockchain technology are eroding as major blockchains like Ethereum make significant reductions to their environmental impact. It is only a matter of time before businesses will be able to purchase ‘blockspace’ where businesses can rent flexible, interoperable, and secure space on the blockchain that is specifically tailored to their shifting needs for security, availability, and latency.

Businesses that don’t want to be left behind when the era of Web3 fully comes into its own, should already be exploring how blockchain technology could improve their operations. A smart business invests in its future and the future is most definitely Web3.

Transforming industries with the Metaverse; opportunities & challenges.

The Metaverse is a popular topic of discussion, yet many people are still unsure about its meaning. Dubbed the next frontier of the internet, the Metaverse is a virtual reality realm where users can engage with each other in an immersive, computer-generated environment. With numerous industries looking to integrate it into their long-term strategies, the definition of the Metaverse and its applications constantly evolve. What is clear though is that it can revolutionize the way we perceive the world and communicate with each other. Platforms such as Second Life, Roblox, and Fortnite have paved the way for the Metaverse by enabling users to create avatars and communicate with each other in 3D virtual spaces. However, the Metaverse is projected to be much more immersive, intuitive, and vast than these predecessors. It will offer a collective virtual realm that anybody can enter using augmented reality (AR), virtual reality (VR), and mixed reality (MR), which can immerse users in a more virtual environment using avatars and holograms.

By Komal Dilip SheteProduct Portfolio Consultant, Tecnotree.

Transforming industries with the Metaverse.

In addition, the Metaverse has the potential to revolutionize industry verticals by creating new business opportunities to engage with customers and offer unique experiences. By using digital twins, it can also provide a virtual representation of the physical world we live in, enabling organizations to recreate and redesign their products more efficiently and seamlessly.

However, as the Metaverse continues to evolve, there are growing concerns about ethical codes, government policies, and standards that need to be established to ensure user safety and protection. For instance, the Metaverse may need to address issues like data privacy, digital identity, and intellectual property rights. Although no single entity controls the Metaverse, it is anticipated to be open and available to everyone who wishes to participate, just like the internet.

THE USE OF THE METAVERSE IN VARIOUS APPLICATIONS:

The Metaverse offers exciting opportunities for creating immersive experiences, and companies are investing significant resources to develop its potential applications. One of the most promising uses of the Metaverse is in the development of AR/ VR games using the Metaverse SDK to fully exploit virtual reality. VR headsets provide highquality representations for an engaging experience, and users can trade digital assets using cryptocurrencies like ETP and NFTs.

While gamers are likely to be early adopters of the Metaverse, several challenges need to be addressed, such as inadequate internet connectivity and expensive hardware requirements. One potential solution is to bundle cloud gaming subscriptions with dedicated 5G connectivity to incentivize gamers to participate in the Metaverse

Other Metaverse applications include industries such as:

· Healthcare: In healthcare, AR/VR can be used to improve mental health or perform complex surgeries by using assistive surgical tools like HoloLens. Virtual reality can also aid in pain management by distracting patients from pain during medical procedures

· Manufacturing: The Metaverse has various use cases in manufacturing, including 3D design validation, remote inspections, and virtual operations. VR applications can aid employee training with safety and real-life simulations, resulting in fewer accidents and improved production processes. Additionally, the Metaverse can help companies develop new products and prototypes faster and more efficiently

· Education: Virtual reality can be a useful tool in education as it allows for immersive learning experiences. It can help students hone learning concepts through attractive visuals and real-life scenarios, making it easier to engage with the material

· Military: Tactical Augmented Reality (TAR) provides soldiers with precise locations during military combat, allowing them to make better decisions on the battlefield. It also helps them identify friendly forces and avoid friendly fire incidents

· Sports: The Metaverse can provide a unique platform for sports enthusiasts to engage in virtual sports experiences. Players can enter a virtual arena with a unique avatar, socialize, co-watch, train, work, purchase equipment, replay previous matches, and participate in sports leagues

· HR: Companies can create more human interactions and experiences by leveraging the Metaverse. For example, companies can conduct interviews, meetings, or walkthroughs virtually, even before someone starts working at a company. This can help streamline the hiring process and create a more personalized experience for job candidates.

INTEGRATING LOW CODE/ NO CODE AND REALWORLD OPEN API WITH THE METAVERSE

One of the latest innovations in the world of technology is the Real-world Open API Standards, designed to provide a common framework for building and integrating applications in the real world. By integrating with the Metaverse, it enables the creation of applications that can interact with both the real and virtual worlds, providing a new way for businesses to engage with their customers and increase revenue. This development is made even more accessible by implementing low code/no code. With these

tools, developers can create Metaverse applications without extensive coding knowledge, making them more accessible to a broader audience. Pre-built templates and drag-and-drop interfaces allow developers to create applications quickly and easily, reducing development time and costs The benefits of low code/no code implementation with the Metaverse extend beyond cost savings and efficiency gains. It also democratizes the development process, empowering businesses of all sizes and technical abilities to create their own Metaverse applications without relying on expensive developers. This opens up new opportunities for businesses to engage with their customers, experiment with new products and services, and drive growth

Transforming industries with the Metaverse.

In addition to reducing development time and costs, the use of low code/no code and Real-world Open API also opens up new possibilities for collaboration and innovation. With a more accessible and intuitive development process, businesses and individuals can work together to create new and unique applications that integrate with the Metaverse. This could lead to the creation of new industries and job opportunities, as well as increased user engagement and revenue for businesses.

Moreover, the integration of Real-world Open API with the Metaverse can also lead to the creation of more efficient and streamlined workflows. For instance, businesses can create applications that track inventory in real-time or provide virtual customer support, thereby reducing the need for physical staff and lowering operational costs

As the Metaverse continues to evolve, the role of Real-world Open API and low code/no code will become increasingly important. These technologies will allow businesses to stay at the forefront of innovation, delivering new and exciting experiences for their customers. The possibilities for the Metaverse are endless, and the integration of Real-world Open API and low code/no code tools is a critical step in realizing its potential

THE METAVERSE AND CONNECTIVITY

Connectivity is also crucial for the development and expansion of the Metaverse. With the help of 5G technology, consumers and businesses can enter the Metaverse with peak data speeds of multi-gigabits per second, ultra-low latency, and excellent reliability. In addition, telecom operators can play a more critical role in the Metaverse value chain by leveraging technologies such as 5G, Edge Computing, and AI whilst monetising new opportunities to enhance the customer experience.

Collaboration among partners such as Communication Service Providers (CSPs), private enterprise networks, and IoT developers is necessary to provide in-home connectivity packages that guarantee bandwidth, functionality, and security. As network technology advances to 6G, it is expected to further accelerate the development of the Metaverse with even higher bandwidth speeds and lower latency

However, like the internet, the Metaverse requires close monitoring for safety and privacy, competition, and open access to enable its evolution. Public policies for the Metaverse must be a collaborative effort involving industry leaders and policymakers, along with potential users in various communities. Businesses should consider the societal effects of the Metaverse, including psychological aspects related to addiction, application of law, trust, privacy, bias, and disinformation, before rushing in to develop new applications.

Nevertheless, the Metaverse will see the emergence of new technologies that will exploit these changes, making it an exciting time for technology, and businesses should not only look forward to witnessing its evolution but take part in it too.

What we can expect from the industrial metaverse.

According to ABI Research, the industrial metaverse is expected to grow into a $100 billion market by 2030. Set to transform the way we design, manage, and operate complex systems, some of the metaverse’s greatest potential lies in industrial applications – allowing users to interact in a realistic and immersive way. Fueled by technology-driven innovations such as algorithmic logic and cloud-based compute power and processing, the wholly virtualised and abstracted environment will change the way that many of us work – whether it be in the field, in factories, or even at our desks.

By Alessandro Chimera, director of digitalization strategy, TIBCO.

What we can expect from the industrial metaverse.

THE INDUSTRIAL METAVERSE

With the ability to reduce costs, improve safety, help towards sustainability goals, and drive innovation, it’s no surprise that there is interest from organisations across all industries – banking, energy, healthcare, and transportation – in how the metaverse can benefit them.

One sector where we can expect to see ongoing efforts in developing and implementing industrial metaverse solutions is manufacturing.

When you think of ‘traditional’ manufacturing plants, you probably think of heavy machinery, loud noises, and lots of people. Today’s manufacturing plants, however, are hubs of innovation with workflows across the factory floor digitised for efficiency, agility, and productivity.

With this greater use and reliance on technology comes an increased use of data. As we continue to embrace the Industry 4.0 era, manufacturers are collecting and using more data than ever before to make more intelligent, timely, and considered decisions. This is also an era where maintenance managers don’t have to spend time manually checking systems, workflows, and machinery for potential problems. Among other responsibilities, predictive maintenance detection, planning, and scheduling is a data-driven entity within the wider organisation. This is the manufacturing metaverse in action.

DREAMING BIGGER THAN VIDEO GAMES

AR technologies serve more than just Pokémon GO. Industrial metaverse applications have an extraordinary potential to connect both operational mechanisms – such as the supply chain, procurements processes, sales and after-sales – as well as the retailing process (down to where a product should sit on a shelf or be hosted on an online catalogue).

Organisations are spending an increasing amount of time looking at data quality and analytics so that managers can get accurate and actionable insights into every aspect of the operations that affect their business – from inventory reporting and product quality checks to workplace production bottlenecks.

Using insights from industrial metaverse applications can allow organisations to manage their stocks and efficiently move products between stores to account for natural peaks and troughs in buying cycles and the fluctuations in product demand based on seasonal customer trends or real world events.

Digital twins can also improve the efficiency of many different operations, while AI and AR can also train workers to complete even very complex tasks such as the maintenance of automotive vehicles.

When applying these technologies to recruitment, candidates that require a ‘university-plus-one’ level of experience can now access a year’s worth of immersive exposure to a role or project virtually, thanks to the industrial metaverse. Prospective employees can gain 12 months’ worth of experience in a virtual space –and if they start this from day one of their degree then students can learn the practical skills they need to function in a role while studying. Not only does this allow them to progress faster, organisations that

would ordinarily offer a year in industry do not end up losing their talent after the candidates’ term is complete, creating a win-win scenario for both graduates and employers.

A NO-HUMAN FUTURE?

As the industrial metaverse is built out, it’s possible to conceive of a future where products and services are assembled, moved, bought and sold with no input from human beings whatsoever. This ‘zero human’ future would see no shopping or procurement, just a higher level of data centric user and enterprise preference logging, which allows users to know what the supply pipe has to deliver.

While this is obviously a very dystopian scenario – and our appetite for such a change remains to be seen – the industrial metaverse will guarantee constancy and consistency in supply chains while improving the efficiency of processes across multiple industries.

The foundations have already been laid from a technological perspective, it will now be interesting to see how quickly we can transition to such a future and how we overcome the various obstacles along the way.

The good, the bad, and the ugly: predictions for the year ahead.

2023 has seen masses of tech innovation so far this year –and we’re only three months in. From Digital IDs, Chat GPT, connected cars, the metaverse, and the first rumblings on 6G (to name a few!), the tech landscape shows exciting promise as we see such technologies truly take shape and reach their full potential. But while there’s been exciting developments across many cutting-edge technologies, you can find the good, the bad, and the ugly in everything, and none of which come without associated risks.

By Todd Moore, VP of Encryption at Thales.

The good, the bad, and the ugly: predictions for the year ahead.

1. THE METAVERSE WILL OPEN UP A NEW FRONTIER FOR HACKERS AND EXTORTION

As the Metaverse and other virtual platforms become increasingly popular and well-developed, we’ve seen a greater importance placed on virtual services and resources – with users starting to value these assets just as much as physical ones, creating a new gateway for cybercriminals to exploit

Children in particular are early adopters of these platforms, often using their parents’ bank details to purchase virtual currencies, making them a vulnerable target for wider attacks.

These platforms have very quickly entered the mainstream, so ownership of these virtual assets needs to be brought under tight control with the same level of security and scrutiny as with other platforms. Indeed, as an emerging tech there are very few mandated or consistent rules and regulations yet, meaning that security, privacy, and consumer protections on these platforms are not always robust or guaranteed.

2. MASS LAYOFFS IN TECH WILL TRIGGER A MAJOR SECURITY BREACH

The news has already been flooded with stories about masslayoffs at some of the world’s biggest tech companies. Beyond these high-profile examples hitting the headlines, the recession and ongoing cost of living crisis means that many more companies may need to reduce their headcount in the year ahead.

This mass layoff of workers – many happening virtually – will no doubt create some major security vulnerabilities, whether that is the result of a disgruntled employee, or a diminished IT team, the right steps are not always being taken to remove access management rights. One way or another, in 2023, we expect to see a major security breach pinned on poorly managed redundancies.

3. SOVEREIGN DATA LAWS WILL GO TRAVELLING

The entire definition of data sovereignty is changing to stay relevant to the modern technological landscape. A year ago, sovereignty meant data not leaving the confines of that organisation. Now, some customers are treating sovereignty as the ability to control the location of their data by moving it to different locations on a periodic basis so it can’t be targeted by hackers.

In the year ahead, we expect this trend to continue with portability becoming the biggest priority for global organisations. To achieve this, companies need to ensure they have cloud-agnostic technologies in place so they can easily lift a workload in the cloud and move it to a different

location. DevOps approaches can also help by writing code that is cloud neutral, so workloads can be spun up anywhere.

4. THE RECESSION WILL ACCELERATE ORGANISATIONS’ VENDOR CONSOLIDATION STRATEGIES

Organisations will move away from point solutions and back towards data consolidation. In the face of the recession, cost of living crisis and looming skills gap, simplification and efficiency will be key priorities in 2023. Automation will help simplify, but organisations will need to work with the right partners to ensure that assets and data are adequately secured.

By combining robust encryption, policy-based access controls, centralised administration and enterprise key management, organisations can consolidate while keeping valuable assets protected and in compliance with regulatory mandates.

5.

‘CONSUMER’ISING RANSOMWARE

- CONNECTED CARS WILL BE THE NEXT BIG TARGET FOR HACKERS

The connected car market continues to grow and will become a bigger target for ransomware hackers and developers.

Connected cars operate on millions of computer codes which, if not secured properly, could easily be hacked. Installing malware into the operating system of a vehicle could cause severe consequences – whether it’s disabling brakes on a busy road, locking users out until a ransom is paid, or stealing personal or corporate data.

Additional attention must also be paid to electric vehicles. With Biden championing the electric car revolution, and the UK government targeting zero emission cars and vans by 2035, technology is advancing at pace. This speed of development – needed to reach important environmental targets –could create additional security risks. “Security by design is critical, and it’s imperative that car manufacturers bake in robust cyber security standards from the outset to avoid scenarios like this from occurring.

6. THE BUSINESS OF CYBERCRIME: EXTORTION RANSOMWARE WILL RISE

Attacks on critical infrastructures will continue in 2023 and the tactics these threat actors use will likely remain unchanged. The reality is that cybercriminals operate like a business, and if they’re remaining successful in their attacks, they won’t see a need to change their methods.

While ways of gaining access remain the same, we’re starting to see a shift (that will continue into next year) in how cybercriminals are extracting money. Double extortion and even triple extortion attacks against critical infrastructures will expand rapidly as they provide attackers with larger sums of ransom and multiple payment avenues – allowing them to put revenue back towards their own infrastructure.

Not dead yet: when it comes to supply chains, the Metaverse still has much to offer.

The metaverse has been part of the business conversation for almost a decade now, steadily gaining traction as technology catches up with the ideal. But while Mark Zuckerberg’s rebranding of his company to Meta has brought greater exposure to the concept, Meta’s lack of immediate success has emboldened the naysayers.

By Mark Morley, Senior Director, OpenText.

The Metaverse still as much to offer.

But the fusion of the physical and the digital is already showing signs of transformational benefit for the manufacturing industry. Renault Group, for example, is implementing the metaverse in its industrial operations and expects that, by 2025, it “will generate savings of €320 million, plus €260 million in inventory savings, a 60% reduction in vehicle delivery time, a 50% reduction in the carbon footprint of vehicle manufacturing and a contribution to the 60% reduction in warranty costs.”

Looking at these numbers, it’s clear that the metaverse can’t be written off just yet. Still, these are predictions, and it remains challenging for supply chain leaders to make a business case for making the move themselves while evidence of its commercial benefit is still thin on the ground.

For those who are currently reliant on Web 2.0, or else have been focused on cloud transition, looking closely at the metaverse might feel like tomorrow’s problem. However, to stay ahead of the curve, supply chain leaders need to assess use cases for its deployment within their own organizations that deliver strategic benefits.

So, how will the coming months and years see the relationship between the supply chain and immersive technologies evolve? And, more importantly, what are the considerations supply chain managers must keep in mind as they enter the metaverse?

LESS DISRUPTION, MORE DEFINITION

Readers will not need me to describe in any further detail the disruption that the supply chain industry has faced in the last three years. This industry is nothing if not resilient, and I expect we’ll see further innovation to help shore up supply chains against the potential for further disruption.

A likely move will be to reduce global sourcing of parts and products. Near-shore sourcing and production will grow in popularity to hedge against the likelihood of global economic and geopolitical turbulence. However, the advent of the metaverse and immersive technologies such as AR and VR tells us that near-shoring might not have to be the only tactic for resilience-building.

It’s likely that, in the near future, we’ll see some more large, companies begin to experiment with the metaverse, with the aim of discovering how it might be deployed across different areas of the business. As with any innovation, there needs to be

very good commercial reason for companies and consumers to adopt it en masse. This year could be the year we see that breakthrough, as supply chain leaders look to stay ahead of the curve when it comes to reinventing their operations.

The retail industry offers one extant example: some companies have begun to explore the idea of consumer-controlled digital avatars visiting metaverse clothing shops to make realworld purchases. Combined with manufacturers visualizing production processes by creating digital twins and 3D virtual assembly lines, such initiatives offer whole new routes from raw material to consumer which can be plotted out in more agile, resilient ways.

FUSION IS THE FUTURE FOR LOGISTICS

For now, the metaverse still exists for most as a place of future potential, rather than a benefit of the present. Still, there are some ways supply chain leaders can look to leverage it right now. The aforementioned digital twins, for example, can be used to produce digital transactions that mirror the physical movement of goods as they move across the supply chain.

By combining these transaction flows with IoT sensor data – for example, to derive insights around the condition and location of shipments across the globe –supply chain managers can build a more accurate picture of supply chain operations. That 3D picture can potentially be visualized within a supply chain metaverse, and bring new levels of visibility, additional planning capabilities and enhanced connectivity to enable new opportunities for collaboration.

It’s even possible to leverage the metaverse, combined with intelligent planning tools, to support warehouse design processes. This would deliver deep insights into performance, and the measurements could contribute to, amongst other things, upholding sustainability commitments.

By deploying AI and machine learning in metaverse environments, supply chain managers can also try out ‘what if?’ scenarios before applying actions to the physical supply chain. Take natural disasters, for example. Companies could simulate such disruptive events, and by doing so gain a risk-free understanding of how they might impact the rest of the supply chain. Similarly, they could also simulate the result of introducing new suppliers to replace any disrupted suppliers, and how this could impact logistics flows in the network.

It will require dedicated investment and proof-of-concepting by leading players to give the metaverse the momentum it needs to reach critical mass. I

personally believe it can – and will – completely redefine how we visualize supply chain operations in the long term. Of course, we should expect there to be teething problems, as with any new technology. But the potential benefits are huge and, with so many companies struggling to increase resilience and reduce costs, the business case is greater now than ever before.

A GAME-CHANGER IN WAITING

2023 is already shaping up to be yet another eventful year in the life of supply chains, and continued investments in the metaverse and other immersive technologies should see even more change in the not-too-distant future. But I believe it will be positive change, rather than the challenging disruptions of recent years, and there’s already a place for supply chain leaders to leverage within metaverse environments. The smart money now is on it becoming a core part of supply chain processes.

2023 – the year we will see the Metaverse’s full Potential.

The past few months have been something of a rollercoaster for the metaverse, at least when it comes to the news headlines. In its February 2023 earnings report, Meta revealed that its Reality Labs division, home to the company’s virtual reality technologies and projects, posted a $4.28 billion operating loss in the fourth quarter – almost a full billion more than in the previous quarter. Unsurprisingly, this has got many a negative tongue wagging, with naysayers now suggesting that the metaverse was always simply overhyped and we are now witnessing its costly demise. Among all the noise, it’s important we remind ourselves that the metaverse, in its truest sense, still does not really exist. The industry, and the big tech companies, still have multiple issues to resolve and protocols to establish before it can start forging its path to ubiquity.

By Mark Mamone, CTO of digital identity specialist, GBG.

2023 – the year we will see the Metaverse’s full potential.

Nobody knows whether the metaverse will truly live up to its current promise, but its potential is still thought to be capable of generating up to $5 trillion in value by 2030, Despite recent setbacks, at its core, it contains principles that are it’s too big for companies to ignore. I would argue that 2023 is going to be the year when at least components of the metaverse, if not the metaverse itself, begins to demonstrate its value. The truly game-changing issue will be addressing the oversight and controls we have in Web 2.0 and addressing these issues to ensure the durability of new ways of experiencing the Web, unsurprisingly called Web 3.0.

USER EXPERIENCE

So much of the value of the metaverse is tied up with the digital user experience. This is understandable when you consider the nature of what it enables. Its use cases are actually pretty varied, but most of us think about virtual events when we think about the metaverse. It offers, among other things, a virtual space for people to explore and interact with each another, as though they were in the real world. It’s this potential for spontaneity which makes the future of the metaverse particularly exciting for both businesses and consumers.

If we look at metaverse user experience from a business perspective and what digital means to a broad base of professionals, the metaverse starts to look a little different, however.

THE DISRUPTION OF WORK LIFE

As we know, during the disruption caused by the pandemic, businesses benefited from adapting quickly to a hybrid working model and remote working became the new normal. As the world opened-up again, however, hybrid working models began to present a new set of challenges, not least when it came to engaging and motivating staff. It’s here we can see a compelling business use case for the metaverse.

The metaverse’s potential for natural human interactions and spontaneity feels like a real opportunity for organisations, against the background of hybrid work struggles. The possibility of recreating the intimacy of a physical office in an online world, with the all the inherent possibilities of serendipitous conversations, creative sparks and watercooler moments is tantalising for business leaders.

But what about if, as a business user, you experience IT issues in the metaverse? IT issues are, of course, commonplace in the real world and evidence suggests they may still be an issue in the future. The process has already started, but we’re going to move away from a central helpdesk as a customer support model to fix issues. Now, I appreciate this may not sound like the most exciting facet of a virtual experience, but if you think about it, going about your business, and facing glitches and failures can be truly frustrating experience. In fact, I would go as far to say that it can be the single issue that will completely turn a user off a digital experience. To have customer support embedded in your user journey as standard, to catch issues before they become a problem and to intuitively fix problems users may be having as they journey through the metaverse is truly game-changing. Rather than having to step out of what they’re doing and, by definition, lose the sense of immersion, fixing problems will be far more based on the journey take and point in time interventions.

DATA AND ONTROL

The public’s growing awareness of data privacy issues has already seen countries introduce more stringent privacy laws. For example, the EU’s General Data Protection Regulation (GDPR) which sets out a legal framework for keeping personal data safe, compels companies to have robust processes in place for handling personal data. Between 2018 and 2022 tech companies have been fined over $2.9 billion under the GDPR. Emerging technologies such as the metaverse are making the enforcement of data privacy regulations much more challenging, however. People are now far savvier about their data than they were in the early days of the internet. Most people now want control of the data they share. So, when it comes to logging on, companies will be required to validate a user’s identity and facilitate the experience they want to have. Users will need to register their identity, but it will ultimately fall to individuals to decide how they use it.

The journey towards user identity validation needs to demonstrate all the attributes of a good customer journey. It must be secure, private, and trusted. identity verification will be at the centre of inspiring this trust, enabling companies to either grant or not grant access to certain spaces and experiences. This is going to change the relationship individuals and businesses have with the metaverse and is where we will also begin to see a shift in the maturity of the technology and its adoption.

Why automating digital certificate management is vital for the Metaverse age.

As Meta toils away at creating the Metaverse, in which organisations and consumers are expected to carry out swathes of their lives and business, security professionals turn an everwatchful eye to security and privacy practices. The consensus is clear: when it comes to ensuring a solid foundation, security must be rooted in strong digital identities.

By Tim Callan, Chief Experience Officer at Sectigo.

Why automating digital certificate management is vital.

DIGITAL TRUST MUST NOT BE TAKEN FOR GRANTED

Many IT leaders still focus on old computing and security paradigms which aren’t compatible with a cloud and Web3 world, and in the enterprise space, traditional security means firewalls and network security are the main lines of defence.

In the past, this approach was perfectly suitable, as users were mostly on-site and few needed to access external hybrid-multicloud resources remotely. As such, trust in users, their devices, and applications was assumed to be solved as long as they were directly connected to the network. Yet, the fact that trust was assumed by mere virtue of being in the corporate network perimeter is exactly what attackers preyed on to access sensitive corporate data.

All cyber security practices must be based on a strong notion of trust, applied to all forms of digital identities whether human, or machines (i.e. software, bots, and devices). However, in an era defined by remoteness, this has become even more crucial: identity is the new perimeter, and IT leaders must embrace new paradigms of security. Today’s IT environments should focus on establishing digital trust for the massive (and growing) amounts of human and machine identities.

MACHINE IDENTITIES COME TO THE FORE

Machine identities now outnumber human identities by nearly 50 times over, according to CyberArk. Enterprises face large operational challenges when managing the growing number of identities - a challenge which will only multiply tenfold when looking at the scale of human and machine identities that the metaverse will demand.

Machines are critical components of the digital world. When the metaverse becomes fully operational and mainstream, there will be a huge rise in the number of smart devices, apps, software, and bots. In parallel, human identities will need to be accurately verified. As per the security maxim, with more complexity comes added risk.

METAVERSE

AND WEB 3.0 IDENTITIES AND CHALLENGES

Access and interaction in the metaverse fundamentally come down to establishing and maintaining digital trust in humans and machines. In turn, this enables users and businesses to know who and what you are dealing with, so they can interact safely. The way to scale identity-first security to the levels that the metaverse and the Web 3.0 evolution will require is by leveraging cryptographic keys and digital certificates, the proven foundation to establish digital trust.

At the core of that digital trust are identity-first technologies such as cryptographic keys and certificates. Already extremely important in our daily digital usage, these will be critical infrastructure for the metaverse and Web 3.0 to ensure the billions of identities in play are trusted. This infrastructure will need to be impeccably monitored, as a single expired certificate or a vulnerable crypto element can result in catastrophic outages, breaches, and cyberattacks. As the metaverse and Web 3.0 become mainstream, IT leaders must prioritise open and interoperable means to manage and orchestrate digital certificates, by leveraging Certificate Lifecycle Management (CLM).

SOLVING FOR THE NEXT DECADE

The metaverse only exacerbates very real problems enterprises see today: thousands, sometimes tens of thousands of certificates, all of which must be constantly renewed and revoked faultlessly to prevent major breaches and outages. Managing them can be problematic. This is well known today, as manual certificate management has created huge risks within enterprise environments. One overlooked certificate expiration can have massive consequences, from opening vulnerabilities to criminal activity to compliance risks. The enterprise security market still has a lot of work to do in this area.

To add to the complexity, these certificates are commonly issued by different Certificate Authorities, which in the past could not manage each other’s certificatesand most still can’t.

This is why security professionals are placing Certificate Lifecycle Management (CLM) systems among the security essentials of the next decade. With these, they will be able to automate the management of all certificates, independently of Certificate Authority.

In a further hurdle, Google has declared its plans to deprecate TLS/SSL certificates with a lifespan longer than 90 days, drastically decreasing the existing timeline of one year. This means certificates which encrypt the vast swathes of data and information transfers involving Google products, will need to be managed four times as often as they used to. Managing certificates can no longer be a purely human job. Enterprises must immediately move to automate. Identity-first security must be placed at the heart of the metaverse. Without flawless digital trust, all the exciting advancements it could bring will be doomed to fail.

How metaverse virtual events are better for business and the planet.

As businesses have moved at pace towards remote and disparate workforces, there’s an urgent need to work together virtually and effectively. The advances in digital have put the spotlight on the limitations of passive webinars and the trend to move events and experiences online is gathering pace. Across all industries, assembling teams remotely to optimise participation, connection, and creativity has never been more important. While in-person events can have their time and place, they deny leaders the opportunity to maximise diversity and inclusion and to take sustainable action to meet net zero objectives. And with tighter budgets, it’s the ideal time to take business events to the next level, potentially saving 85% of the budget.

By Jaie Genadt, Co-founder at Flox.

How metaverse virtual events are better for business and the planet.

Now that metaverse virtual events are a reality, boards and C-Suites are scrambling to find ways to adopt these digital collaboration platforms to reduce their carbon impact and improve diversity in participation. According to GVR, the global virtual events market size is set to surge to USD 618 billion in 2030 from being valued at USD 114.12 billion in 2021.

Organisations across all industries are calling for more powerful connections in virtual and hybrid events and experiences. In fact, many have already or are preparing to adopt metaverse platforms, since Kaltura claims that 94% of event organisers were planning virtual events for 2022. Business leaders who haven’t already must start exploring how virtual and hybrid events can help to align their brand and their audiences in today’s digital market, whilst being better for the planet.

METAVERSE VIRTUAL AND HYBRID EVENTS

The most advanced metaverse virtual events platforms offer event managers, organisations and brands a three-dimensional web - or ‘metaverse’- experience to help create the most human virtual and hybrid live events. Participants set up their own avatar and access a virtual 3-D event experience where information can be easily experienced, captured, and shared for enhanced collaboration, in limitless languages as they move freely in the virtual space. By choosing an incognito or personal view, which can be 2-D or 3-D, the event is easily accessed anywhere through a mobile device or computer screen.

A virtual events platform has many use cases, including conferences, summits, exhibitions, trade shows, product launches, networking events, training, internal communications and concerts and performances. Beyond live events and experiences, any organisation can build a ‘digital twin’ – an exact replica of a corporate

headquarters, a retail environment or pop-up, a university campus, lab or surgery to make collaboration and education accessible and immediate.

Offering a perfect blend of physical and digital, hybrid events are also popular, where content is delivered through the platform to a real screen at the organisation’s event. Alternatively, a live feed from an in-person audience can connect remotely to relay content to a real-time or catch-up audience.

SUSTAINABILITY AND OTHER BENEFITS

There are numerous advantages for those ready to collaborate with their key stakeholders through the metaverse. For one, Accenture claims that companies that invest in experience see a 240% higher ROI than those that don’t. But overall, the cost benefits of hosting a 3-D virtual event amount to a significant 85% saving on an inperson event.

When considering business leaders’ evolving sustainability directives, a recent Cornell University study found that switching from in-person to virtual and hybrid conferencing has significant emissions reduction benefits. Moving to virtual can reduce the carbon footprint by 94%, and for hybrid, by 67% (while maintaining more than 50% in-person attendance). In fact, a virtual Flox Sustainability Summit with 3000 participants saved over 335 tonnes of carbon.

Speed and agility are two key motivations for business leaders in adopting new tech. In this regard, 3-D virtual events can be set up rapidly, within a few months and are fully scalable. With backgrounds in events and experiential marketing, the Flox team have created a platform that’s easy to use for event marketers by people who know what it takes to put on an event. Ease of use is paramount for event success and to enable teams to leverage event output and make more informed business decisions.

Opting for a metaverse event (either virtual or hybrid) instantly improves accessibility and inclusion for participants. Nature says audiences at virtual conferences are 40-120% greater than at in-person conferences. In fact, their research on scientific conferences showed that virtual events attract a significantly higher proportion of female attendees and attendees identifying as LGBTQ+. Nature says attendance by women at virtual events increases 60-240% when compared with in-person.

What most business executives really want is smarter ways to learn about their industry and to network effectively. With integrated translation software (available in multi-languages) added into the platform, worldwide participants can hear an almost instantaneous dubbed commentary and view immediate subtitled translation of content. Social connection is also in-built to encourage active participation, and AI helps attendees find the right people, create spontaneous breakouts, schedule one-on-ones, and message people instantly.

Best in class privacy and security is also built in to provide a trusted platform for all attendees.

CFOs are under more pressure than ever to prove rapid ROI of any tech investment. The Flox platform delivers events in a way that makes the user experience measurable, which provides essential feedback for CX, sales, marketing and HR teams. Reports can indicate which content was most engaging, how features were used, by whom, and what worked well. The easy-to-access analytics provide granular information that helps teams follow up on leads, identifies areas of interest, and demonstrates ROI. The data analytics can all be integrated into the platform, and as it’s agnostic, can feed into whatever CRM the host organisation uses.

FROM FIRST STEPS TO THE FUTURE OF BUSINESS

While metaverse virtual events are proliferating in all industries, it’s likely that these platforms which are in the domain of forwardlooking brands, will in just a few years become the way we do events.

Business and tech teams looking to fast track success must embrace new ways of harnessing their human expertise to benefit their audiences. As tech businesses and brands’ key stakeholderstheir employees and customers - become increasingly tech-native and eco-conscious, inviting them to join events, conferences or training through a digital platform is the first step to a deeper social connection which builds the broadest and strongest communities for real business success.

Nurturing an AI mindset.

As artificial intelligence develops in leaps and bounds, it is becoming common to compare it to our own human ability to perform subtle and complex work. AI has been powering background tasks like recommendation algorithms and fraud detection for some years, but we now increasingly expect it to perform well in public-facing roles like customer services interactions. With the current attention being given to generative AI, the media has often spoken in terms of how it is inspired by the structure of biological brains. It wouldn’t be wise to take such statements too literally: the truth is that, as things stand, AI works very differently and has much more clearly defined limitations than human minds. However, there is something useful in that comparison in terms of what it might teach us about what a successful approach to AI looks like. Different AI technologies work according to very different principles, and none of them are much like a human mind. What they all share though, is a reliance on huge amounts of information in order to function, and the need for a carefully managed context in order to put that information to its best use. From laying a healthy groundwork, to creating a constructive operating context, to drawing on a diversity of ideas, here are some of the key steps businesses should take when tapping into AI.

By Carolyn Prior, Director, Practice General Management, Applications, Data and AI, Kyndryl UK & Ireland.

Nurturing an AI mindset.

DAY ONE DATA STRATEGY

Perhaps the most important thing to understand is that every AI initiative is the product of the data it is fed. For humans, we think of their formative years as being formative for a reason: early experiences have a decisive impact on one’s progress and experience, and coursecorrecting later in life can be an extraordinary challenge.

So, it is with AI. For example, users expect AI to behave ethically and be fully explainable: if the data used in its training isn’t carefully understood and assessed for bias or misinformation, it will be very difficult to achieve that outcome. Likewise, users expect AI to be able to access all relevant information: if a data environment isn’t built to draw on those many resources in an effective way, filling the knowledge gaps later on might not always be possible.

And, users expect AI to be helpful in its functionality: if datasets aren’t cleaned of unnecessary or outdated material, the experience of using the AI outcome can be frustrating.

That all means that before even starting on training, refining, and deploying an AI strategy, businesses need to have a crystal clear idea of their underlying data strategy. The specifics of this will, naturally, vary according to the technologies being used and the desired outcomes. Generally, though, we are thinking in terms of identifying and connecting information silos, efficiently tagging and cleaning that data so that relevant and appropriate material can be reliably accessed, and putting governance systems in place so that data can be effectively reviewed for issues.

AI CAREER GUIDANCE

With people, no single influence will decide what they ultimately focus their energies on; while parents and guardians might have specific ideas, as we develop as people we react to a broad range of influences which collectively steer us towards a particular path.

A business deploying AI, of course, rarely has the luxury of waiting to discover what a platform’s best area of deployment might turn out to be: like any business technology, it is rolled out to solve a specified problem. That doesn’t mean, however, that a single person or even a single team should be handed exclusive decision-making power over how and where to use AI.

The fact that it relies on such a broad dataset drawn from across an organisation, and can apply that data in such nuanced and subtle ways, means that many voices are needed to properly identify the right design and application of AI. It might be best thought of as a process of co-innovation, in which non-technical teams like sales, finance, and marketing take part in iteratively specifying the AI solution, collaborating with technical specialists to refine that specification and ensure it is both possible and takes full advantage of the technology’s potential.

That final point is crucial, since AI needs to be carefully positioned in the workflow to create the greatest productivity and leveraged with business and ethical insight, like many technologies enabling digital transformation, the associated career opportunities are there not just for the technologists, but for those who can bring that insight and participate in or lead the coinnovation process.

And for those who can prepare the way by bringing robust data governance and operational data management to the enterprise.

LIFE-LONG LEARNING

There’s a saying that it takes a village to raise a child, but even as adults it takes the input of many communities to keep us at our best. From the developmental guidance of schooling, to ongoing professional training, to the many different stripes of professionals who help us through different parts of life, we’re never in a position where we have a single source for all the skills and knowledge we need. As a rapidly-emerging field, AI is moving from being a rare professional specialism to a relatively mainstream technologist role. Even so, it’s hard to see a future where organisations routinely house all of the capabilities needed to make an AI initiative sustainably successful.

That means that making the right partnerships is an essential step to successfully tap into AI. Skills need to be drawn on throughout the lifecycle of an AI initiative, starting

from the data strategy stage where an external lens can be invaluable in revealing oversights, omissions, and untapped potential. Consultative partners can also help to choose the right platform for AI, identify expertise in the market to build it, and guide the cultural change both within the business and among customers which will be required to take full advantage of it.

Tapping into artificial intelligence entails a significant investment. As solutions are increasingly commercialised and productised, there are low-code and no-code solutions emerging which promise to ease the burden of training and refining models, but the work of preparing data and the cost of running AI applications will remain and require ongoing resource and funding commitment.

At the same time, the promise of AI is compelling. Business just need to see it, like a person, as something worth dedicating real time, care, and attention to if they are to realise genuine benefit from it..

Making the Metaverse.

For all the hype around the emergence of a 3D, immersive internet, (think metaverse, augmented and virtual reality), there are signs that it could well deliver on its vast potential. Citi forecasts that the total addressable market for the metaverse could be between $8 trillion and $13 trillion by 2030, with total users numbering around five billion by the end of the decade.1 If delivered effectively, it has the potential to reshape the internet and upend entire industries. This sounds suitably impressive, but its success ultimately hinges on two critical factors: seamless user experience and affordability. Without these, the metaverse could fold, wiping away billions in capital expenditure in the process. If it is to deliver on its immense promise, then Edge computing has a vital role to play.

By Mark Sokol, Chief Technology Officer, AtlasEdge.

Making the Metaverse.

Now that metaverse virtual events are a reality, boards and C-Suites are scrambling to find ways to adopt these digital collaboration platforms to reduce their carbon impact and improve diversity in participation. According to GVR, the global virtual events market size is set to surge to USD 618 billion in 2030 from being valued at USD 114.12 billion in 2021.

Organisations across all industries are calling for more powerful connections in virtual and hybrid events and experiences. In fact, many have already or are preparing to adopt metaverse platforms, since Kaltura claims that 94% of event organisers were planning virtual events for 2022. Business leaders who haven’t already must start exploring how virtual and hybrid events can help to align their brand and their audiences in today’s digital market, whilst being better for the planet.

METAVERSE VIRTUAL AND HYBRID EVENTS

The most advanced metaverse virtual events platforms offer event managers, organisations and brands a three-dimensional web - or ‘metaverse’- experience to help create the most human virtual and hybrid live events. Participants set up their own avatar and access a virtual 3-D event experience where information can be easily experienced, captured, and shared for enhanced collaboration, in limitless languages as they move freely in the virtual space. By choosing an incognito or personal view, which can be 2-D or 3-D, the event is easily accessed anywhere through a mobile device or computer screen.

A virtual events platform has many use cases, including conferences, summits, exhibitions, trade shows, product launches, networking events, training, internal communications and concerts and performances. Beyond live events and experiences, any organisation can build a ‘digital twin’ – an exact replica of a corporate

headquarters, a retail environment or pop-up, a university campus, lab or surgery to make collaboration and education accessible and immediate.

Offering a perfect blend of physical and digital, hybrid events are also popular, where content is delivered through the platform to a real screen at the organisation’s event. Alternatively, a live feed from an in-person audience can connect remotely to relay content to a real-time or catch-up audience.

SUSTAINABILITY AND OTHER BENEFITS

There are numerous advantages for those ready to collaborate with their key stakeholders through the metaverse. For one, Accenture claims that companies that invest in experience see a 240% higher ROI than those that don’t. But overall, the cost benefits of hosting a 3-D virtual event amount to a significant 85% saving on an inperson event.

When considering business leaders’ evolving sustainability directives, a recent Cornell University study found that switching from in-person to virtual and hybrid conferencing has significant emissions reduction benefits. Moving to virtual can reduce the carbon footprint by 94%, and for hybrid, by 67% (while maintaining more than 50% in-person attendance). In fact, a virtual Flox Sustainability Summit with 3000 participants saved over 335 tonnes of carbon.

Speed and agility are two key motivations for business leaders in adopting new tech. In this regard, 3-D virtual events can be set up rapidly, within a few months and are fully scalable. With backgrounds in events and experiential marketing, the Flox team have created a platform that’s easy to use for event marketers by people who know what it takes to put on an event. Ease of use is paramount for event success and to enable teams to leverage event output and make more informed business decisions.

Opting for a metaverse event (either virtual or hybrid) instantly improves accessibility and inclusion for participants. Nature says audiences at virtual conferences are 40-120% greater than at in-person conferences. In fact, their research on scientific conferences showed that virtual events attract a significantly higher proportion of female attendees and attendees identifying as LGBTQ+. Nature says attendance by women at virtual events increases 60-240% when compared with in-person.

What most business executives really want is smarter ways to learn about their industry and to network effectively. With integrated translation software (available in multi-languages) added into the platform, worldwide participants can hear an almost instantaneous dubbed commentary and view immediate subtitled translation of content. Social connection is also in-built to encourage active participation, and AI helps attendees find the right people, create spontaneous breakouts, schedule one-on-ones, and message people instantly.

Best in class privacy and security is also built in to provide a trusted platform for all attendees.

CFOs are under more pressure than ever to prove rapid ROI of any tech investment. The Flox platform delivers events in a way that makes the user experience measurable, which provides essential feedback for CX, sales, marketing and HR teams. Reports can indicate which content was most engaging, how features were used, by whom, and what worked well. The easy-to-access analytics provide granular information that helps teams follow up on leads, identifies areas of interest, and demonstrates ROI. The data analytics can all be integrated into the platform, and as it’s agnostic, can feed into whatever CRM the host organisation uses.

FROM FIRST STEPS TO THE FUTURE OF BUSINESS

While metaverse virtual events are proliferating in all industries, it’s likely that these platforms which are in the domain of forwardlooking brands, will in just a few years become the way we do events.

Business and tech teams looking to fast track success must embrace new ways of harnessing their human expertise to benefit their audiences. As tech businesses and brands’ key stakeholderstheir employees and customers - become increasingly tech-native and eco-conscious, inviting them to join events, conferences or training through a digital platform is the first step to a deeper social connection which builds the broadest and strongest communities for real business success.

The Metaverse reality check that your business needs.

Gartner predicts that by 2026, a quarter of us will spend at least one hour a day in the Metaverse for work, shopping, education, social media and/or entertainment. Some brands are already there today, such as Nike and Coca-Cola, who are using it to drive brand awareness and the purchase of physical products. With so much buzz around the Metaverse, it’s easy to see why more and more companies will start to do business there. But are they thinking about the risks? We will certainly need a different approach to security in a virtual world compared to the physical, but what will that entail? Let’s take a look at what the risks are and how to start getting prepared (because you do need to start now).

By Deryck Mitchelson, Field CISO EMEA at Check Point Software

The Metaverse reality check that your business needs.

The biggest hurdle to the Metaverse being a secure environment is in its foundations. The Metaverse is built on blockchain technology and we have already seen serious security gaps in NFT marketplaces and blockchain platforms such as OpenSea, Rarible and Everscale. Due to the sheer amount of malicious activity that we already see exploiting services based on the blockchain, we believe it won’t be long before we start to see initial attacks in the Metaverse too. It will likely be based on authorization, and user accounts will get hijacked, so we expect that identity and authentication will sit at the heart of everything we want to do.

REDEFINING REALITY

Another key security challenge is in the safe spaces needed to conduct business. Imagine you’re on a Zoom or Teams call. It’s a private meeting space, right? But what will that be like in the Metaverse? How do we know that a chair someone is sitting on isn’t actually an avatar and we have an impostor in our midst?

When the Internet first came out, threat actors exploited the average human’s unfamiliarity with the tech by creating malicious sites that impersonated banks to obtain financial details. Phishing scams like this still occur, albeit we now see more sophisticated forms of social engineering. The Metaverse is like a whole new Internet, and you can guarantee that people’s unfamiliarity with it, both businesses and consumers, will be exploited.

Interestingly, every transaction that happens on the blockchain is fully traceable, so this will become far more important, especially when it comes to having an audit trail of what has been discussed and any decisions made in a business context. But that leaves a question over how that information is taken from the virtual world to the physical. Are contracts going to be legally binding in the Metaverse? Or will they need to be brought into the physical world to be signed and then pushed back in? How will that be done securely?

Researchers have discovered security gaps within blockchain and crypto projects which are part of the Metaverse. The vulnerabilities that been exploited by cyber crime are focused on vulnerabilities with smart contracts that allows hackers to exploit and drain crypto platforms and around application vulnerabilities inside blockchain platforms that allows hackers to attack through the platforms and hijack users’ wallets balance. There is a danger that we rush headlong into the Metaverse without considering these types of implications.

IS IT WORTH IT?

You might be reading this thinking well, why bother if there are so many risks involved? But it is absolutely worth putting the time in now, to get ready for moving across to the Metaverse. Unfortunately, any company (no matter the size) that doesn’t, may find itself in a place where it’s playing catch up and potentially losing out on business or engaging in processes that put the business at risk. You can transition slowly, just like many have done with cloud migration.

Organizations will need to be much more reliant on their partners around the world to help mitigate risk, as this is very much a global phenomenon. But there will always be some risk and for those that take them and get it right, there will be huge rewards. At the end of the day though, businesses won’t be able to do it themselves, it will take a great deal of partnering with organizations that work within that space. The Metaverse will hit everyone, and there’s no denying that mistakes will be made, similar to those that were made in the early days of the Internet.

Top Metaverse security considerations right now:

1. It’s coming. You can’t put your head in the sand and pretend that it isn’t. Business leaders and security professionals need to talk about it and understand what it might mean for them. Understand the landscape by looking at what competitors are doing in that space.

2. Have a look at how you are currently running services now in the physical world and understand if these services map in any way to the Metaverse. You may find that some of them don’t and aren’t even secure in this world, such as mobile devices, tablets, cloud and multi-cloud.

3. Understand how to get your identification and authentication done correctly. The answer to that isn’t just having a password or two factor authentication. Companies need to really start upping their game around these two issues. People tend to do things without thinking about security, whereas they should be thinking of security first.

Marketing in the metaverse: a whole new world of opportunity.

Despite the recent news of Meta layoffs, the reality is that the metaverse is coming and with it, a lot of questions on how it will change the consumer experience and redefine everything we already thought we knew about how to do business. Here, Paul Houston, co-owner and director of Catalyst, explores the metaverse, what it means for marketing and the opportunity it presents smaller businesses to compete on a global stage. Ever since Mark Zuckerberg announced his vision of a new interactive virtual world, it would seem that the metaverse has been everywhere. Of course, that’s not to say the metaverse is a reality yet, not even close. However, even though it is still very much in the early stages, there can be no doubting that the concept – whatever form it eventually takes – could spell the next evolution of the internet.

Marketing in the metaverse: a whole new world of opportunity.

For the uninitiated, the metaverse, put simply, is the internet but in 3D. It’s an emerging digital space that brings together virtual reality (VR), augmented reality (AR) and mixed reality to create a new type of ‘extended reality’ – providing a new medium for social and business engagement.

Importantly too, though Facebook may have spearheaded the ‘metaverse movement’ that is not to say its Meta interpretation is the only one. Rather than having one single metaverse, we’ll most likely have a collection of different offerings from games companies to brands and tech platforms. Just a quick look at the latest developments from Apple and Microsoft through to Gucci and Disney offers a revealing glimpse into the potential for the entire metaverse or rather ‘multiverse’ space.

For busy business leaders, of course, this raises all types of questions. Principally, what does it mean for my business, and how can I become part of it?

To answer the first question, the good news is the metaverse will bring with it – quite literally – a whole new world of opportunity, especially when it comes to the marketing category.

Take, for example, the digital customer experience. Amid the upsurgence of social media platforms for customer service, visual commerce and video sharing, today’s digital-first consumers continue to gravitate to those companies who command their interest with compelling experiences. More than ever its about hyper-virtualisation, customer-centricity, memorable content and a seamless transaction journey, as research shows those companies that master the digital advantage sustain growth.

Imagine then, the potential that the metaverse could afford brands to enhance the customer experience further. Take, for example, the typical retail journey. While Instagram, Facebook, blogs and the like are a great way of showcasing new trends and inspiring demand, customers will still need to visit a retailer or order

online to try on outfits. With the metaverse, it becomes possible for consumers to visit their favourite retailer, get real-time inspiration depending on their requirement (be it an upcoming wedding, a holiday), and make a purchase after virtually trying on a new look. The same goes for people using the metaverse at home to view products in 3D and true to scale in their home. The result is a new opportunity to create an exciting, hassle-free virtual shopping trip that transcends physical boundaries.

Another huge benefit, especially for smaller businesses, is that the metaverse could help level up the playing field with larger businesses and enable them to compete on a global scale. To understand why, we need only look at the advent of digital marketing. Amid the ongoing demise of the High Street, social media platforms such as Facebook, Tik Tok and Instagram have allowed small businesses to target, engage with and convert thousands of new customers without the expense attached to a physical store. The technologies driving the metaverse

offer similar – if not greater –scope. In this way, the metaverse could become an extension of a brand’s marketing toolkit or even replace more traditional and costly advertising methods entirely.

Equally interesting is the unlimited creative freedom afforded by a decentralised concept. This is because unlike other social media platforms which are owned by a company and subject to their content requirements and advertising costs, the metaverse offers a wide open door for brands to connect with customers in which way they want. This could include anything from creating their own world to creating environments and events that connect consumers with their products and ethos.

Thus, with the commercial benefits of joining the metaverse arguably conclusive, the question begs –how can SME business owners prepare for it?

One of the most basic ways you can get your business metaverseready is by revaluating and redefining your online presence.

Firstly, is your website up to par? It sounds obvious but as your business’ all-important digital shopfront, ensuring it not only looks good but is easy to navigate and enables a seamless transactional journey is a must.

Alongside this it’s time to look at your content strategy too. Does your current content excite, inspire and entice? The metaverse is essentially the future version of the internet so getting your content right now is vital to ensure people take notice of it over the deluge of ads littering the digital landscape. Regardless of whether your content is created or curated, make sure it is share-worthy so it spreads organically and is remembered. More than ever too, its about making sure what you send out is personalised, localised and consistent amongst all omnichannels for a more powerful digital experience.

If you aren’t already, alongside this you should ensure you are driving the right users to your site. With algorithms changing every day, a robust search engine optimisation (SEO) strategy is key

to claiming and maintaining your online presence. Without it, you miss out on opportunities to drive traffic to your site and attract your best potential customers.

With the basics in place it could then be a good time to test the waters. To begin with you could consider a few low-risk opportunities to ‘go virtual’, such as creating a 3D representation of a product, or introducing a virtual tour of a key facility. Customer feedback could then be used to validate your rationale for joining the metaverse and in what shape.

Indeed, the metaverse isn’t fully ready for prime time, not yet. But even though it is still in the early stages, by taking heed now businesses can already start to create real value today and set themselves up for a world of infinite new opportunities tomorrow..

Metaverse: Reshaping reality with digital twins.

Imagine having the ability to blur the boundaries between the physical and digital realms through a pair of glasses – XR glasses, that is. Imagine if data access was decentralized, and every individual had the opportunity to innovate and disrupt the world as we know it. What possibilities could we achieve by jumping from physical to digital realities and back –and are these possibilities limitless

By Dr. Prith Banerjee, Chief Technology Officer at Ansy.

Metaverse: Reshaping reality with digital twins.

Global challenges require universal collaboration, and the metaverse is the golden ticket to resolving these issues. Neither a dream, nor a mystical setting in a science fiction novel, the metaverse is a real innovation that has cemented itself as an integral part of our futures. As a digital universe, it isn’t constrained by boundaries or borders, but is instead community driven. It facilitates partnerships between engineers from every corner of the planet, ranging from industry experts to emerging talent brimming with new ideas.

For engineers – who are boundless in their imagination but restricted by reality – the metaverse unlocks an infinite number of possibilities in creating and developing new ideas. It’s no surprise that it currently has 400 million active monthly users. Through decentralized access to digital twins in this new and exciting world, the metaverse is only going to increase in popularity and usage – and will undoubtedly play a major role in reshaping the future.

ANOTHER UNIVERSE – OR ANOTHER BUZZWORD?

Engineers traditionally developed groundbreaking products using hardware prototypes, observing and analyzing their properties and behavior in the physical world. But this repeated cycle of design, build, test, and adaptation was time-consuming and financially draining, and a solution was required. Currently, engineers typically deploy virtual prototyping, which involves designing the product on a computer using Computer Aided Design (CAD) tools. They then use Computer Aided Engineering (CAE) simulations to digitally replicate the product’s behavior under various operating variables. Under these conditions, the cycle shifts to design, analyze, adapt, and build. So, how does this process change with the arrival of the metaverse?

The result of a simulated test is normally viewed on a computer screen in 2D, but with augmented reality and virtual reality (AR and VR), an engineer can now visualize and experience the

product in 3D. Therefore, the metaverse can bring the physical and virtual worlds together with AR/VR, CAD, and CAE simulations in the cloud. Engineers then have the ability to spin new ideas much further, whilst simultaneously implementing them in a very concrete way. Entire systems – and systems of systems – can be simulated, thus enabling the creation of virtual worlds for testing and optimizing new and tailored products.

One example would be the testing of autonomous vehicles. Simulation not only digitally recreates the vehicle, but mimics every other variable engineers need to assess how the product would behave. These include weather conditions, road types, and different countries with various road signs and markings. Simulation can also replicate how an autonomous vehicle interacts with other vehicles and pedestrians. Combining this assortment of information from various sources is much easier with the metaverse, as it is the largest unified database for digital twins.

ACCELERATING INNOVATION AND BOLSTERING COLLABORATION

Traditionally, a technical design is created by an engineer using a CAD tool on a single workstation. Once the design is completed, it is submitted to an analyst who uses CAE simulation on another workstation. Any feedback between the analyst and the engineer is then done sequentially after the changes are completed. By harnessing the power of the metaverse, AR/ VR, CAD, and CAE in the cloud, multiple engineers can design, analyze, and perform iterative improvements as if they were working on the tangible product in the physical world. They can also run “what-if” scenarios that are difficult or even impossible to physically test, such as extremely high temperatures or dangerous accelerations. Because the metaverse can merge data from multiple sources, the virtual test environment for the product becomes much richer in detail, and far more accurate compared to a physical test.

This can be demonstrated in the aforementioned autonomous vehicle example. If engineers possess the physical model of a vehicle, they can test its system. However, they are limited in their ability to test the vehicle’s behavior in a range of realworld conditions. Instead, the testing process can be simulated in the metaverse by using highly accurate digital replicas of other vehicles, road networks, weather conditions, and even 5G coverage. This would allow for the safe testing of autonomous vehicles, and engineers could then observe and understand how they would react in the physical world.

OPENING THE DIGITAL DOOR TO A NEW WORLD

Discussions around the metaverse have been circulating for some time, despite it only being in the initial stages of implementation and discovery. Unsurprisingly, the tech giants have been steering exploration, but this will undoubtedly change in the coming years.

Every industry, from automotive to art, is fighting to get a piece of the – albeit virtual – action.

Up until recently, advancements in engineering have been pioneered by only a few. Therefore, the metaverse not only appeals to the masses because it allows decentralized access – it offers the ability to innovate without constraints. Anyone and everyone has the power to collaborate, innovate, and redesign the world without limits. The metaverse won’t just help people to dream big – it will allow them to take action and rewrite history as we know it.

Women in Web3: It’s time to rewrite the code of innovation.

From the NFT boom of 2021 to the current crypto winter that has affected not only the blockchain industry but also the traditional markets, we are all facing the challenge of navigating our path forward and building resilience. However, the current gloomy market has also spurred innovation, prompting individuals and businesses to explore new ideas and approaches. For a woman CEO in the disruptive tech sector, fostering a pragmatic approach to innovation comes almost as a given, especially coming from the experience of facing headwinds navigating through this male-dominated industry. This involves a practical, solution-oriented mindset that focuses on finding efficient ways to overcome obstacles – something particularly valuable in the fast-paced Web3 world, where the ability to quickly adapt to new challenges, as well as opportunities is essential.

By Dr. Prith Banerjee, Chief Technology Officer at Ansy.

Women in Web3: It’s time to rewrite the code of innovation.

WE DELVED TOO DEEPLY INTO WEB3’S POTENTIAL DURING THE BULL MARKET

BABS has recently celebrated its one-year anniversary, during which we made significant investments in the business to establish a strong brand presence. We focused on various initiatives, including creating a compelling brand identity and fostering brand awareness through partnerships and events. These efforts have not only enabled us to scale our business but also helped us stay attuned to market trends and anticipate future opportunities. By leading a full-service Web3 communication and marketing agency, we come across a diverse range of projects that require support in various areas such as business modeling, go-to-market (GTM) strategies, and public relations (PR), among others. While reviewing these projects, we have noticed that due to changes in the funding landscape, founders must strive to create products that are not merely projects, but sustainable businesses that address specific market needs. It is imperative to develop solutions

that solve problems that people already recognize, rather than forcing our opinions on them. In other words, we need to adopt a user-centric approach and align our products with their demands to achieve success in today’s market. We have observed two significant trends in the industry: first, projects that are working on bridging the gap between Web2 and Web3, and second, those that are developing technology that can immediately address global issues. During the last bull market, the industry went deep into exploring the potential of Web3, which resulted in a variety of products being developed for a relatively small, blockchain-native audience. However, with the onset of the bear market, it became apparent that these projects, many of which lacked a proven business model or scalability outside of the Web3 world, were unable to sustain themselves. Furthermore, investors showed little interest in funding such projects, making it clear that there needs to be a greater focus on developing products that can appeal to a broader audience, while also having a proven business model and scalability.

IF THERE IS NO EASY WAY TO GET PEOPLE ON BOARD IT PROBABLY WON’T SURVIVE

If I had to choose three areas with plenty of opportunity to grow, I would focus on the creator economy. It’s easy to explain this pick if you understand why Facebook/Meta pulled back, and you’re aware of the growing desire of creators to have greater control and monetization options for their content. While Meta’s initial value proposition was connecting people, it’s no longer valuable to users as it doesn’t generate revenue. The focus has shifted to the creators who seek value in their content and are seeking ways to monetize it seamlessly. Innovative products that benefit both users and brands have the potential to revolutionize the industry and render traditional social platforms obsolete. Rather than getting caught up in the metaverse hype, we should prioritize creating practical use cases that allow people to earn money doing what they do best. Let’s keep it simple and meet the needs of creators and users. The second critical area to

consider is digital identity. As AI technology advances, it becomes increasingly challenging to identify individuals, making it essential to maintain complete control over our data and ensure its security. With globalization, data needs to be transferred between locations securely, with the owner having complete control over who can access it. Projects that develop solutions for secure data management, seamless onboarding, and comprehensive coverage of all touchpoints will be vital in the near future. Thirdly, let’s talk about infrastructure. While it’s currently a focus for most VCs, the approach to it seems misguided. Simply building another layer 1 solution won’t be the answer - if the big players haven’t figured it out yet, it’s unlikely that smaller, less-funded projects will. What’s needed are solutions that can improve transaction speed, as web3 must ultimately compete with traditional systems to achieve mass adoption. Banks process thousands of transactions per minute, which no current blockchain can match. We must focus on products that address

these immediate and widespread issues if we hope to see significant adoption of blockchain technology in traditional industries. The pressure of the crypto winter is driving more and more projects to focus on these pillars, as they offer tangible use cases and immediate revenue. Those clinging to a strictly Web3-native approach risk being left behind. When the bull market inevitably returns, these proven use cases will be all the market needs to embrace and adopt them. As always, it’s a matter of proving the model works first, then gaining momentum. In this market, no one wants to be a guinea pig, so we must develop products that can be easily implemented and solutions that can be easily proven. The market has demonstrated that if there’s no straightforward path for adoption, no easy way to get people on board it probably won’t survive.

AN OPPORTUNITY TO TACKLE SOME OF THE INDUSTRY’S PERSISTANT ISSUES

In the meantime, my team at BABS and websh3 remains focused on helping drive diversity, inclusion,

and collaboration, which are some of the industry”s persistent issues. As we see it, taking them on is a proven solution that leads to more innovative and successful outcomes for all. Many of the challenges facing women in high tech are rooted in systemic and structural issues, such as bias and discrimination in hiring and promotion, and a lack of diversity and inclusion in company culture. Funding is no exception. These issues can be difficult to address and require significant effort to overcome. Instead of reverting to outdated models, it’s time to embrace a new approach on data and growth segments while reaffirming our dedication to promoting genuine diversity and inclusion. Investors must recognize the value of funding companies with diverse leadership as a sound business strategy. While the entire market is feeling the pressure, it’s imperative to particularly pay attention on how funding squeezes affect diverse founders and projects focused on the female economy Tech is a traditionally male-dominated industry, and Web3 grew out of it as no exception. The funding

gap for female founders is a major concern, with only a small percentage of venture capital funding allocated to them. Such lack of diversity among investors is a significant factor contributing to this disparity, with a low percentage of decision-makers at VC firms being female. Moreover, the majority of VC firms still do not have any female partners. To address this issue, we must push for diversity at the partner and capital allocator levels.

Harnessing the potential of disruptive technologies is critical for creating a positive social impact. These technologies have the power to transform industries, change the way we work and live, and drive progress in areas such as healthcare, education, and sustainability. Despite the ongoing uncertainty, the potential of the female economy, valued at trillions of dollars, remains steadfast. Which stakeholders are equipped to leverage it to their advantage?.

Tapping into the global talent market to accelerate the transition to web3.

The rapid development and adoption of blockchain technology and cryptocurrency has led to the emergence of a new generation of internet, known as Web3. This new internet is focused on decentralization, security, and privacy and has the potential to transform the way we interact with each other and the digital world.

By Tom Price-Daniel, VP of Strategy at Teamed.

Tapping into the global talent market.

As the demand for Web3 technology grows, so does the need for talent with specialized skills to help accelerate the transition to this new internet. One way to meet this demand is by tapping into the global talent market, which offers many benefits for companies looking to accelerate the transition to Web3. There are, of course, doubters that say Web3 is nothing more than a euphemism, but the march of change has not slowed, and while progress is not linear, we are witnessing transformative times.

RAPID GROWTH

Roy Amara was an American scientist and futurist. He famously coined the adage that was to become Amara’s Law: “We tend to overestimate the effect of a technology in the short run and underestimate the effect in the long run.” Over the past 5 years, we have witnessed boom, bust, crypto bros’, corruption, and scandal. Bitcoin, the often-cited bellwether for Web3, has peaked and crashed. But behind this noise remains Amara’s law.

Web3 is much more than cryptocurrency and Bitcoin. It’s not just another technological innovation - it is an entirely new way of thinking about the internet. It will change the way companies and societal systems interact and behave. You don’t have to subscribe to the maximalist view that one is evil and the new good. You don’t have to believe that banks have no future in the world of digital currency. However, it would be wise to appreciate the ceaseless, relentless and dogged nature of Amaras Law.

Today, the Web3 space is growing at 45% CAGR, standing at c.$2bn currently and set to reach over $80bn by 2030. Making it one of, if not the fastest growing sector, over the next decade.

2ND WAR FOR TALENT

The sector relies on talent to enable this growth. However, talent is in limited supply and is itself decentralised. This means that companies transitioning from Web2 to Web3, as well as Web3 native startups and projects will need to think globally to meet their needs.

A 2022 survey by Indeed.com identified a 315% jump in demand for Web3 roles and the skills gap is often cited as a primary brake on economic growth, as a mismatch in the availability of digital skills required vs the skills available in the workplace population is inhibiting progress and growth. However, this gap has always been framed through the lens of the present day. Web3 makes this shortage look like a

global drought. The war for talent is a term first coined by Steven Hankin of McKinsey & Company in 1997, it went on to be a hot topic in HR circles for well over a decade. We are now entering the 2nd War for Talent. Despite the increasing demand for Web3 talent, there is a shortage of individuals with the necessary skills. This shortage is due to both high demand and low supply. The chronic lack of formal education programs illustrates the lack of joined-up economic and education policy-making that has characterised the last two decades.

GOING GLOBAL

This 2nd War for Talent will be characterised by the full adoption and benefits of tapping into the global talent market in response to the race for companies to identify, train and retain individuals with skills in areas such as:

Blockchain Development, with programming languages such as Solidity and Rust, as well as experience with blockchain frameworks like Ethereum,

Polkadot, and Cosmos. Smart Contract Programmingthis includes skills in writing and deploying smart contracts, as well as experience with smart contract platforms like Ethereum, EOS, and TRON.

Decentralized Application (dApp) Development - this includes skills in developing decentralized applications using blockchain technology, as well as experience with dApp platforms like Ethereum, EOS, and Truffle.

As with all change, there are early adopters and policy makers that will reap the rewards. Countries such as the UAE have sought to become the global cryptocurrency hub, implementing rules and regulatory frameworks to enable sustained growth. Dubbed Silicon Oasis, it seeks to reinvent itself as the next Silicon Valley - banking on Web3 to make it happen.

The rules of engagement for leadership, HR and talent to source, onboard and retain these individuals require a global mindset. The flexibility to hire employees in any country or territory on earth. It requires the use of Employers of Record to automate in-country payroll and compliance procedures to ensure correct local tax contributions. It needs an explorer mindset that accepts the challenges and meets them head-on.

Regulating the metaverse: How the UK can stay metaverse-ready.

Whether you’re the eternal believer or the dismissive cynic, there is no doubt the concept of the metaverse continues to be a hot topic dominating the technology industry right now. Meta, Sony, Microsoft - to name a few - are getting ‘metaverse-ready’, investing large sums of money in it. However, for now, it remains an imperfect science with its own vulnerabilities. As with any new cutting-edge technology, there are concerns around the security and privacy of the metaverse. In fact, it’s raising such concern, that international law enforcement agencies are preparing for potential new kinds of cybercrime to rise, and existing crimes to take place on a far larger scale.

By Mike Rhodes, CEO of digital consultancy, ConsultMyApp.

Regulating the metaverse: How the UK can stay metaverse-ready.

News broke in February that The International Criminal Police Organization (ICPO), or Interpol, is already preparing to tackle these risks of criminal activity and investigating how to secure the metaverse. In efforts to stay ahead, rather than on the back foot of any emerging criminal activities, Interpol has even created its own metaverse - a virtual office where it can carry out training, attend meetings. After all, what better way to plan for, and foresee, cyber crimes than to experience the metaverse for themselves, identify risks that could occur and how they can be prevented and policed.

Still, the issue of regulation of the metaverse is a minefield at present, and it does need to be cracked by not only policing agencies, but Big Tech themselves, before widespread usage begins and more and more people are open to any vulnerabilities.

THE METAVERSE AS A MINEFIELD FOR CYBER CRIME

Whenever new technology crops up, there is unfortunately always someone waiting to take advantage of it, and manipulate its uses for their own gain - whether financial, political or much darker than that. We saw remote working draw in new forms of cyber crime, with cyberattacks rising substantially as a result of us working virtually, and heightening opportunities for fraud and security breaches.

And if we imagine a totally virtual world, the chances of these crimes riddling it, are quite conceivable. Phishing scams and fraudulent tactics to manipulate users and pressure them into sharing personal or sensitive information will be inevitable. It’s a very possible threat actors could wreak havoc during its infancy, and Big Tech and regulators of the metaverse will need to get ahead of this, ensuring verification of metaverse users and protection against these forms of fraud.

This goes even further with hacking. An avatar will be full of personal information, from financial accounts, personal health details, employment and workplace information. Any hacker that gains access to your avatar can in theory open the door to your entire life which takes identity theft to an unprecedented level. This has the capacity to not only ruin virtual reputations online, but can put offline safety at risk too.

Protecting minors online will be crucial - younger generations are quickly swept up by the latest technologies and the metaverse is no different. With the metaverse already embedded into many popular games including Minecraft and Roblox, children have been the first to really interact and explore hyper-real environments and are natural adopters of the technology. However, threats of unwanted contact, sexual assault, exposure to explicit or inappropriate content, location sharing, and purchasing powers are all huge concerns. To prevent these risks, metaverse providers

must implement age verification and safe-guarding measures to prevent young people from access to inappropriate services or communications.

There’s even the issue of distribution of propaganda for recruitment on virtual worlds (seen something similar on Roblox), and the threat of extremist new worlds in the metaverse as well. Therefore, countering terrorism and preventing extremism online will be another challenge to address.

These are just a few issues that could take place without intervention to prevent these forms of cyber crime, but it really is a minefield at present.

REGULATING A NEW VIRTUAL WORLD: CAN WE GOVERN THE UNGOVERNABLE?

The emergence of the metaverse presents a series of complex regulatory challenges that are constantly evolving. However, with such high stakes, staying ahead will be key, or the consequences could be detrimental to users’ lives, both online and offline.

Users’ personal information could be misused, users may be at risk of losing money and experiencing identity fraud, and children will likely be susceptible targets of abuse and manipulation. These are just a few examples of the huge risks, without early thought or intervention. But the fact is, as technologies are developed, the rules and regulations that govern the metaverse will also evolve. Any regulatory framework will need to be flexible and adaptable. Still, as Meta’s VP for Middle East, Africa and Turkey, Derya Matras recently pointed out, regulators cannot afford to play catch-up. Policymakers, Big Tech, academia and developers must all come together to consider these glaring

risks, combating them head on before they spiral far beyond control - allowing metaverse creators to build the metaverse in a responsible and safe way.

The metaverse is a brave new world, and cyber threats in the metaverse will always be inevitable. However, it is up to the creators of the metaverse to work hand in hand with the UK government and law enforcers to protect and educate private citizens on guarding against these dangers.

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