Exploring the Potential and Challenges of the VR Metaverse

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Written by Okwu Mabel The concept of a metaverse, a virtual reality space where users can interact with a computer-generated environment and other users, has been around for decades. However, recent advancements in technology have made it more feasible than ever before. With the rise of virtual reality (VR) and augmented reality (AR) technologies, the metaverse is no longer just a science fiction concept but a potential reality. In this article, we will explore the potential and challenges of a virtual reality future and how the metaverse could be a game-changer for our society . The Potential of the Metaverse The metaverse has the potential to change the way we interact with each other, conduct business, and experience entertainment. Here are some of the potential benefits of a metaverse: Increased Social Interaction: The metaverse can provide a platform for people to interact with each other regardless of their physical location. This could lead to more social interaction and a sen
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Blockchain Beyond Cryptocurrencies


Written by Abubakar Mikail 

Applications and Challenges of Distributed Ledger Technology

Distributed Ledger Technology allow users to store, share, and synchronize data and transactions across a distributed network of many participants using distributed ledger technology. It can also be viewed as a collection of technologies with similar structures that operate according to different sets of rules.

 In this research, we provide a broad overview of the state of DLT and blockchain advancements and look in-depth at the key factors influencing their progress. We outline several areas for the DLT/Blockchain community to think about further concerning the potential function of standardization. The study aims to stimulate additional conversation regarding the potential role of standards in assisting the development and acceptance of the technology, rather than provide a comprehensive list of subjects. A mixed methods approach was employed to conduct the research, including an in-depth literature assessment, interviews with experts from both public and private organizations, and an internal workshop.



Key Findings

Challenges facing DLT and blockchain 


The terminology is unclear, and the technology is thought to be still in its infancy

Early adoption concerns and potential disruption to current industrial processes.

Inadequate data on business gains and broader economic effects.

lack of clarity around the governance of the technology.

Regulations are uncertain.

fragmentation as a result of numerous non-interoperable implementations.

maintaining the data's privacy and security.

ensuring data integrity and powerful encryption.

Technology's energy-intensive nature.

Lack of understanding of smart contracts and how to use DLT/Blockchain to build them.

Opportunities for DLT and blockchain 




Giving enterprises and end consumers efficiency improvements (including cost reductions).

Enabling new business and economic paradigms.

Enhancing the security and durability of transactional systems.

Enhancing end-user empowerment and transactional trust.

Providing advantages for data recording and reporting through immutability capabilities.

Utilizing public key cryptography to make it possible to manage digital identities.

Also read: Quantum Computing: The Next Frontier in Computing Technology

Prospective role of standards about DLT/Blockchain 


Although it is too soon to think of standards in terms of technical features, they may be helpful in the following situations:


Achieving agreement on uniform terminology.

Ensuring compatibility among various implementations 

Addressing issues with data governance, security, and privacy.

Promoting trust and controlling end-user identification.

Assisting with provenance tracking installation.




Thank you for reading through. If you find this insightful, do well to like, comment and share with your others  Thank you ❤.

Comments

  1. Anonymous25 April 2023 at 08:52:00 GMT-7

    Very insightful.

    ReplyDelete
  2. Hauwa Muhammad Bello25 April 2023 at 10:50:00 GMT-7

    This is a beautiful and informative write-up.

    ReplyDelete
  3. Anonymous26 April 2023 at 08:56:00 GMT-7

    Very educating

    ReplyDelete
  4. Precious27 April 2023 at 12:28:00 GMT-7

    Blockchain has always been a mystery to me, thanks for the insight

    ReplyDelete

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