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World Economic Forum: how metauniverse promotes industry progress

The metauniverse has the potential to play a broader role in society. In the metauniverse, we can broaden our horizons, interact with people we cannot meet in the real world, travel to different places, and access public and medical services. In general, the meta universe can create an extension of the real world, leading us to find out how to make the world we live in better.

In the past six months, as companies and enterprises from all walks of life have flocked to the meta universe platform, we have witnessed an exponential increase in people's interest in the meta universe. Some companies have begun to use metauniverse to hold meetings, collaborate, and hold employee training and various activities. Nike created nikeland in metauniverse for fans to contact, create, share experience and compete. JPMorgan Chase has also become the first large bank to open a virtual lounge in the metauniverse.

However, we are still in the early stage, and the full potential of the metauniverse has not yet been fully demonstrated. In the next few years, we will see the emergence of a number of unique use cases that combine the digital and physical fields, making seamless interaction and transition between the real world and the virtual world possible.

How does metauniverse promote industry progress

Metauniverse will bring a more authentic and immersive e-commerce experience. Through 3D holograms or virtual avatars, we will be able to talk in a completely immersive, real-world like environment. People can go into a restaurant and choose the food they want to eat, such as ordering tacos in chipotle fast food restaurant in metauniverse, and then receiving orders at home.

Yuancosmos will also transform the education and training industry so that recruitment is basically free of geographical restrictions. As interviews with virtual avatars become commonplace and collaboration, interaction and work in the metauniverse are becoming more and more common, enterprises will be able to promote new frontiers in diversity. Metauniverse will help strengthen on-the-job training, and employers can provide continuous training and skill improvement programs in a simulated real-life environment without endangering their reputation or employee safety. Training in the metauniverse will likely create well-trained talents with higher skill levels, and these talents are more likely to survive the survival of the fittest in the real business world.

Through teletherapy in metauniverse, metauniverse will bring infinite possibilities for providing efficient, cheap and broader medical services. Medical professionals will be able to predict the patient's postoperative recovery mode and the patient's response to a certain treatment through digital twin technology, so as to avoid some medical problems.

The increasing popularity of the metauniverse will bring new travel experiences. Those who cannot travel for health, economic or other reasons will be able to visit their favorite scenic spots and visit relatives and friends through a fully immersive interactive experience.

Similarly, by providing public services in the most remote places, metauniverse will create a fair competitive environment between urban and rural, developed and developing regions.

We can also use the metauniverse to cope with climate change. Through digital twin technology, the metauniverse can replicate buildings, cities and even the whole earth, help us better understand the impact of human activities on the environment, and promote the development of climate science. NVIDIA has announced a plan to create a digital Twin Earth.

Disadvantages and risks of metauniverse
However, although it will bring so many great benefits, there are also some major risks in the metauniverse.
First, we will face the risk of creating a platform dedicated to specific groups of society (that is, those who can access and utilize meta cosmic Technology), which will eventually lead to an increase in homogeneity rather than diversity. In fact, we have now seen that the geographical distribution of VR products is uneven. In 2019, North America and Western Europe accounted for nearly 90% of the global sales of VR products, and 38% of the growth of metauniverse in the next four years is expected to come from North America. We must do our best to ensure that the relevant technologies of the meta universe can be distributed more equitably on a global scale. In particular, enterprises with global business can play a great role in this regard.

Secondly, over reliance on and use of the meta universe will have adverse social effects. Creating two parallel worlds will lead to more divisions and disputes, rather than more cohesion, inclusiveness and collaboration. We must establish appropriate governance processes to ensure that the metauniverse can enhance the real world rather than replace it.

Third, 3D environment can collect a wider range of personal data than 2D Internet. Moreover, metauniverse can also create multiple personalities, significantly complicate data privacy, and bring a series of challenges in authentication. As an irreversible, traceable and secure trading network, blockchain will play a key role in identity management, authentication, data ownership and governance.

In addition, although the metauniverse helps to reduce the deviation, if the artificial intelligence (AI) of the operating platform deviates, the result may be just the opposite. Organizations must develop a monitoring process to ensure ethical AI standards are met, and establish a diverse and inclusive team of engineers to address all deviations in the development phase algorithm.

Unleash the potential of the metauniverse

Finally, the full potential of the metauniverse cannot be released without technological progress from core infrastructure to user experience. Just like the globally recognized Internet domain name system and internet protocol standards, metauniverse also needs similar image, transaction, computing and network function standards. For an open, interoperable and secure metauniverse, from start-ups to Internet giants, it will be crucial for alliances between different enterprises to cooperate on agreement standards.

We are at a critical juncture in time, and we can still guide the development direction of the nascent platform of the meta universe. It all depends on how we (the builders of block and governance models) will take the necessary actions to release the positive potential of the metauniverse and establish processes that will help reduce the risk of the metauniverse.