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Alert on using Metaverse
#Metaverse will create an immersive virtual world that combines augmented and virtual reality, #blockchain and it also includes economic and social spaces where users from anywhere in the world can enjoy a wide range of content and experiences. Top technology players such as Facebook (Meta), Google, Microsoft, and Nvidia are already invested in developing this next generation of IoT.
There is no way one could have missed out from the metaverse. The metaverse brings the assurance of an open, shared, and persistent digital environment that connects communities, products, solutions, creators, entertainment, workspaces, commerce, and many other aspects of the real world.
#Cyberattacks old and new will inevitably find their way into the metaverse and securing the metaverse will present new challenges in comparison to existing digital platforms, however, according to cybersecurity executives and researchers. Monitoring the metaverse and detecting attacks on these new platforms will “be more complex” than on current platforms.
With the metaverse, you’re going to have an explosion of devices, infrastructure and data so it can just increase your attack surface by an order of magnitude.
According to the Acronis Cyber Protection Week Global Report 2022, cybercriminals are exploiting the IT complexity to launch catastrophic cyberattacks. With most users still not fully aware of the magnitude of the cyber threats they are facing in the wake of increased metaverse adoption, daily data theft of credit card, identity, passwords, etc., malware, phishing attacks are likely to increase by 200% by 2024 due to unpreparedness or lack of a cyber protection master plan.
Device security remains high on the cyber protection priority list as platform and device hacking is widely expected to soar as the metaverse uptake also skyrockets. Threats and breaches to devices are likely to worsen and could subsequently also have actual terminal consequenceBy VARINDIA | 145 views
Recession looming: Tech giants freezing hiring
The damage from the #COVID19pandemic, the Russian invasion of Ukraine has magnified the slowdown in the #globaleconomy, which is entering a long term of feeble growth and elevated inflation. Stocks have tumbled across Europe, as soaring inflation puts pressure on central bankers to raise interest rates even more aggressively. With the US dollar in demand, the pound has sunk below $1.18 for the first time since March 2020, early in the pandemic.
As per Forbes, the Inflation stocks - which predominantly includes companies from the banking, insurance, consumer staples, oil and gas sectors - has declined by about 8% over the last month, marginally underperforming the broader S&P 500.
Finance Minister #NirmalaSitharaman, including the US, said that global tech companies are in panic due to fear of an economic slowdown in developed countries. After putting brakes on job cuts and hiring by tech-social media companies like Microsoft, Google, Facebook (meta), Oracle, and Twitter, Apple has now joined the list of these companies.
While the U.S. Federal Reserve took some time to respond to inflation, starting with a 0.25% rate hike in March 2022, it is getting more aggressive with its monetary policy tightening, after inflation numbers for May came in higher than expected. The central bank raised rates by 0.75% in June, its largest hike since 1994.
Let's look into how the global tech companies are pulling back.
Alphabet Inc. has decelerated their recruiting efforts. According to an internal memo, Chief Executive Officer Sundar Pichai told employees that- although the business added 10,000 Googlers in the second quarter- it will be slowing the pace of hiring for the rest of the year and prioritizing engineering and technical talent.
Amazon.com Inc. said in April that it was overstaffed after ramping up during the pandemic and needed to cut back. "As the variant subsided in the second half of the quarter and empBy VARINDIA | 152 views
Metaverse Pushing Data Usage | 20 Times in 10 Years | VARINDIA News Hour
Metaverse Pushing Data Usage | 20 Times in 10 Years | VARINDIA News Hour
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The transition of digital ecosystem to #metaverse, where a person will feel immersed in a virtual world, will have the direct impact on the data usage like screen time and consumption of the bandwidth by 20 times across the globe by 2032 and telecom operators, Bharti Airtel and Reliance Jio are suitably placed to benefit from the surge in India, as per the report from Credit Suisse. The report said metaverse has enormous potential to further expand screen time and drive more bandwidth consumption. "Internet traffic is already 80% video and has been growing at a 30% CAGR. Augmented reality and virtual reality technologies are expected to see a boom as these are the technologies that are required for accessing the metaverse. According to the report, while 5G will support the metaverse ecosystem, the emergence of 6G will enhance metaverse use cases. It said the gaming segment is one of the segments where early use cases of metaverse are expected.
The report highlighted that gaming is at an early stage in India and mobile gaming is being driven by mobile phones due to the emergence of affordable smartphones and 4G data services. Mobile internet remains the key medium for Indian users to go online, given relatively low fixed broadband penetration. The share of mobile gaming in online games is expected to increase in future, the report said. The report added that India is one of the leading countries in the world in terms of number of hours spent on mobile per day but it has low penetration of fixed broadband compared to global peers, which will be key to realise the full potential of metaverse. While it is too early to determine the impact of metaverse on Indian telcos' revenues, we believe Bharti Airtel with 17 percent of revenues from fixed line and Jio are well placed to benefit from surge in data usage driven by meBy VARINDIA | 148 views
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