• News
    • Bitcoin
    • Altcoins
  • NFT
  • Metaverse
  • Analysis
  • Regulation
  • Learn
  • Market Cap
What's Hot

Coinbase receives Wells notice from SEC

2023-03-22

Woman Allegedly Involved in $4,000,000,000 ‘OneCoin’ Scheme Hit With Fraud Charges by the DOJ

2023-03-22

Coinbase Says US Banking Crisis Reinforcing Crypto Assets to the Upside, Catching Attention of Institutions

2023-03-22
Facebook Twitter Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
Facebook TikTok Instagram YouTube
CryptoNewsMetaverse
  • News
    • Bitcoin
    • Altcoins
  • NFT

    U.S. IRS Considers Taxing NFTs Like Other Collectibles

    2023-03-21

    Meta Shuts Down NFT Project to Focus on FinTech and Content

    2023-03-14

    Solana’s Solend V2 Release, Is SOL Price $50 Next?

    2023-03-06

    Amazon NFT Marketplace To Reportedly Launch Next Month

    2023-03-06

    Blur Coin Under Fire As Allegations Of Wash Trading Emerge

    2023-03-01
  • Metaverse

    Exploring the Metaverse: A Guide to Investing in Metaverse Stocks

    2023-03-20

    A Guide to Virtual Land Staking in the Metaverse

    2023-03-20

    Nissan Doubles Down on Web3 Innovation

    2023-03-13

    As Fashion Moves into the Metaverse, What Other Industries Could Be Next

    2023-03-13

    South Korea Launches New ‘Metaverse Fund’

    2023-03-13
  • Analysis

    DOJ Officially Seizes Over $456,000,000 Worth of Robinhood Shares Tied to FTX Founder Sam Bankman-Fried

    2023-01-08

    Mark Cuban Makes Prediction on Next Crypto ‘Scandal,’ Warns of Potential Implosion if Exposed: Report

    2023-01-08

    Binance Listings Cause Crypto Assets To Spike an Average of 41%: New Research

    2023-01-08

    Bitcoin Whales Unloaded BTC As Market Reversed and Parked Their Profits in This Crypto Asset Class: Santiment

    2023-01-07

    Crypto Analyst Predicts Breakout for AI-Focused Altcoin, Updates Outlook on Ethereum and Lido DAO

    2023-01-07
  • Regulation

    Coinbase receives Wells notice from SEC

    2023-03-22

    Woman Allegedly Involved in $4,000,000,000 ‘OneCoin’ Scheme Hit With Fraud Charges by the DOJ

    2023-03-22

    Coinbase Says US Banking Crisis Reinforcing Crypto Assets to the Upside, Catching Attention of Institutions

    2023-03-22

    BitMEX Outlines Three Scenarios for Crypto This Year, Says Market Recovery a Likely Outcome

    2023-03-22

    OneCoin associate Irina Dilkinska charged following US extradition

    2023-03-21
  • Learn

    Chart Patterns Cheat Sheet For Technical Analysis

    2023-03-21

    Best NFT Wallets in 2023

    2023-03-21

    What are Dapps (Decentralized Applications) Crypto?

    2023-03-17

    How to Short Sell Bitcoin

    2023-03-17

    Why Decentralized Exchanges Are On Rise? Can INNODEX Surpass Binance and Uniswap?

    2023-03-15
  • Market Cap
CryptoNewsMetaverse
Home»Metaverse»Here’s how the World Economic Forum leaps into the metaverse — Davos 2023
Metaverse

Here’s how the World Economic Forum leaps into the metaverse — Davos 2023

2023-01-27No Comments6 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email

Web3 and the metaverse were handed a seat at the table of the World Economic Forum (WEF) in 2023 as the ecosystem continues to drive innovation across industries.

As Cointelegraph continues to explore WEF, the presence of the cryptocurrency and blockchain ecosystem was mainly found outside the walls of the forum. Blockchain Hub Davos and the Global Blockchain Business Council’s “Blockchain Central” were two central events in town that brought together the wider crypto community that has been somewhat left out of the WEF’s discourse on the sector.

The metaverse is a notable exception. Although some metaverse applications do not operate on decentralized blockchain systems, key proponents for the space have been involved in high-level workshops within the WEF that look to understand and plan for the future integration of innovative technology.

The WEF agenda featured two workshops directly addressing the metaverse as part of the conference’s “Defining and Building the Metaverse” initiative in 2023.

The first workshop, “A New Reality: Building the Metaverse,” featured Meta’s chief product officer Chris Cox, while a second, titled “Deployment in the Industrial Metaverse,” explored how industries can tap into the benefits of the metaverse while avoiding its disruptive potential.

Related: TradFi and DeFi come together — Davos 2023

The World Economic Forum is exploring metaverse experiences within the convention as well. The 2023 conference allowed delegates to experience the forum in its own 3D immersive digital sessions called the Global Collaboration Village.

A custom digital avatar allowed WEF delegates to explore Davos in the metaverse and experience tailor-made experiences during the weeklong conference. Decentralized or not, the organization is tapping into the potential of Web3 to offer more to delegates through virtual experiences.

Blockchain-based metaverse platforms were also present in Davos as the wider traditional finance industry, policymakers and delegates looked to continue learning about the promise of metaverse ecosystems and their potential influence.

Playing in The Sandbox

Cointelegraph talked with The Sandbox co-founder Sebastien Borget at an exclusive networking event known as the Swedish Lunch halfway through the week. Every January, the Schatzalp Hotel hosts the gathering, seeing swathes of WEF delegates dine and mingle on the snowy terrace of the picturesque venue located high above Davos.

The Sandbox has emerged as a popular decentralized metaverse platform worldwide. Its collaboration with mainstream brands and companies is a major drawcard, which is part of the reason Borget was involved in some high-level workshops on the metaverse inside the World Economic Forum in 2023.

Related: Inside the World Economic Forum: Circle, Ripple reflect on Davos 2023

Borget held meetings with government ministries and heads of digital transformation to open dialogue around empowering and protecting digital ownership and digital economies. He said this was a pertinent point considering that half of the world’s population is now beyond generation Z as digital natives:

“We still have to demystify a little bit what the metaverse is today and what it can be in three, five, 10 years from now.”

As a lens to conversations within the World Economic Forum centered on the metaverse, Borget revealed that stakeholders were focusing on considerations around data privacy and security:

“How can we make sure that metaverse platform will respect user privacy, that it will implement enough rules or controls to make sure that users can be safe and protected and their digital assets as well?”

Borget said he had the chance to speak with representatives of the European Parliament about its general data protection regulation, which came into effect in May 2018, as well as regulations around artificial intelligence, cryptocurrencies and how nonfungible tokens (NFTs) should be treated differently.

The Sandbox co-founder Sebastien Borget in conversation with Gareth Jenkinson at the Schatzalp hotel overlooking the town of Davos.

Borget believes regulation of the space is inevitable but hopes that these dialogues will ensure that the industry is afforded room to innovate and experiment. This could prevent the metaverse from being hamstrung by restrictive measures in the years to come:

“It’s a chance to make sure that those regulations will not be too prescriptive for entrepreneurs to really be able to build something interesting here and develop and push their ideas. And so we are involved as early on as possible in the dialogue rather than trying to solve the issue too late as well.”

The Sandbox co-founder highlighted the “productive” nature of the WEF metaverse workshops, describing the meetings as different from a typical conference featuring panels or talks. Working groups discussed key topics at length inside the WEF, while Borget had ample opportunity to network and collaborate with the wider crypto community at various events around Davos throughout the week.

‘We need a bigger voice’

The World Economic Forum and mainstream institutions seem keenly aware of the promise of Web3 functionality and metaverse experiences. Dirk Lueth and Idan Zuckerman, co-founders of metaverse platform Upland, shared these sentiments in conversation with Cointelegraph on a snowy Thursday evening outside of Blockchain Hub’s venue on the Promenade.

The pair were involved in speaking engagements and networking with crypto and blockchain minds. Conversations around metaverse applications provided a learning opportunity. Lueth highlighted the need for industry leaders to have a “bigger voice” among policymakers and industry leaders at conventions like the WEF.

Gareth Jenkinson interviews Dirk Lueth and Idan Zuckerman, co-founders of metaverse platform Upland.

“I think everybody’s pretty much bought into the idea that the web will evolve into an immersive version of it. It will take time, but people are realizing it and are taking the first steps to understand how they fit into the plan,” Zuckerman explained.

Decentralization is another important tenet that powers digital ownership and economies, according to Lueth. He believes that open metaverse networks provide a variety of entrepreneurial and media opportunities that closed systems might not provide.

Zuckerman offered a more thoughtful take, suggesting that the future of metaverses will become a hybrid featuring centralized and decentralized elements:

“I always look at decentralization; it’s not like a one or a zero; it’s a gradient. So there are some elements that need and should and could be decentralized and those will be the first ones.”

Examples of this were seen firsthand by Cointelegraph in Davos. Moderating a panel on metaverse adoption by institutions, two speakers represented mainstream metaverse solutions at the cutting edge of virtual reality.

Emma Todd (MMH Group) and Gareth Jenkinson.

Accenture’s David Treat unpacked their advanced extended reality technologies, while Vince Cacace touched on Vertebrae’s 3D and augmented reality commerce platform. Both projects operate on blockchain technology and serve mainstream institutions and commercial clients.

Related: Bitcoin dialogue at WEF requires ‘open-mind’ — Davos 2023 

Interoperability could become an important part of the evolution of various metaverse platforms and applications, but Davos 2023 suggests that collaboration and innovation are already happening. Decentralized and centralized are already interoperable, providing a glimpse into the future of the space.

Source link

Davos economic forum Heres leaps Metaverse World
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Exploring the Metaverse: A Guide to Investing in Metaverse Stocks

2023-03-20

A Guide to Virtual Land Staking in the Metaverse

2023-03-20

Nissan Doubles Down on Web3 Innovation

2023-03-13

As Fashion Moves into the Metaverse, What Other Industries Could Be Next

2023-03-13
Add A Comment

Leave A Reply Cancel Reply

Top Posts

Huobi token up 70% in the last 30 days, following Justin Sun’s arrival

2022-10-17

CFTC commissioner: Crypto exchanges shouldn’t ‘self-certify’ tokens

2023-01-19

Aging NFT-avatar collection “Novatar” launched on April 4

2022-04-05

Subscribe to Updates

Get the latest news and Update from Cryptonewsmetaverse.com about Crypto, Metaverse and NFT.

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, NFT, Metaverse and more.

We're social. Connect with us:

Facebook Instagram YouTube TikTok
Top Insights

Coinbase receives Wells notice from SEC

2023-03-22

Woman Allegedly Involved in $4,000,000,000 ‘OneCoin’ Scheme Hit With Fraud Charges by the DOJ

2023-03-22

Coinbase Says US Banking Crisis Reinforcing Crypto Assets to the Upside, Catching Attention of Institutions

2023-03-22
Get Informed

Subscribe to Updates

Get the latest news and Update from Cryptonewsmetaverse.com about Crypto, Metaverse and NFT.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
© 2023 Cryptonewsmetaverse.com. Designed by ProdigitalX.

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$27,556.00-2.67%
  • ethereumEthereum(ETH)$1,749.28-3.22%
  • USDEXUSDEX(USDEX)$1.07-0.53%
  • tetherTether(USDT)$1.010.12%
  • binancecoinBNB(BNB)$323.87-4.13%
  • usd-coinUSD Coin(USDC)$1.000.21%
  • rippleXRP(XRP)$0.424449-9.47%
  • cardanoCardano(ADA)$0.359608-5.67%
  • dogecoinDogecoin(DOGE)$0.074517-2.49%
  • Lido Staked EtherLido Staked Ether(STETH)$1,746.09-3.25%