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Web3 & Metaverse
Web3 and the Metaverse have the potential to create significant opportunities across various industries, including India. It's evident that these technologies can contribute to economic growth and innovation in the country. The Metaverse is poised to become a $13 trillion opportunity globally by 2030 and Indian Web3 and Metaverse market to reach $200 billion by 2035.
Web3 and Metaverse are two emerging concepts that are rapidly changing the digital landscape. Web3 refers to the decentralized web, powered by blockchain technology, that allows for secure and transparent digital interactions. On the other hand, the Metaverse is a virtual reality space where users can interact with each other and digital assets.
The report was built on an in-depth analysis of the Web3 and Metaverse possibilities for India with relevant use cases and delves into the potential impact in growth sectors. The report outlines the role of Web3 and Metaverse in building the next version of the Internet and leading the frontiers of the next wave of digital adoption for Indian industries.
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2:55 #Apple denies working with US to spy on iPhone users in Russia
3:32 More startups approach court as Google's 'notice' of June 8 deadline draws closer
4:11 #Dangerous spyware found in over 100 apps on Google Play
4:43 #MeitY transfers Li-ion battery recycling tech to 9 recycling companies & startups
5:25 Nvidia launches Neuralangelo that can use 3D models from videos
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Google to introduce generative AI for its advertising business
echnology can lead to improved conversion rates and more effective marketing strategies, giving businesses a competitive edge in the evolving digital advertising landscape. From Metaverse to ChatGPT, we have all witnessed the power of Artificial Intelligence. From Gaming to Banking to Finance, AI is revolutionising every sector.
AI in marketing and advertising is used to segment customers, message them at optimal times and personalize campaigns. Oftentimes, AI also works to automate these processes to save businesses time and money. These companies use AI to create advertising campaigns and fine-tune marketing strategies.
As per a report, the tech giant is preparing to integrate its generative AI technology, which also powers its Bard chatbot, into the Performance Max programme. Google currently used artificial intelligence in its advertising business to produce simple suggestions that urge people to purchase things.
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3:02 #NEC Corporation elevates Mayank Khandelwal as Head of Finance for global regional headquarters
3:38 #Mankind Pharma bags Rs 1,298 crore from anchor investors
4:06 HC asks CCI to hear plea against Google's billing policy
4:42 #Blinkit's Delivery Workers join rivals in protest
5:12 Standard Chartered reports of Bitcoin hitting $100,000 by end-2024
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#AIAdvantage #IntelligentAds #AdGenAI #AdsPoweredByAI #ai #aicreativity #aigenerated #cybersecurity #artificialintelligence #google #diBy VARINDIA | 57 views
How Web 3.0 is set to Transform the E- Commerce Industry"
Web 3.0, also known as the decentralized web or the semantic web, is expected to transform many aspects of the internet and how we interact with it. It may surprise you, that putting content creation in the hands of the creators and not platform owners can help to improve transparency and trust between businesses and their customers by creating a tamper-proof record of transactions on a blockchain.
With a real-time view of the supply chain, customers can see where their products are at each stage of the production process. It is possible with the augmentation of Artificial intelligence, blockchain, and the Internet of Things (IoT) will be integrated to create a more intelligent, decentralised, and secure web.
Web 3.0 could bring disruption to the e-commerce industry, as the users will have more control over their data, and transactions will be faster and more secure. It could significantly impact how businesses interact with their customers, transforming online retail functions. With the global Web 3.0 market poised to grow from $6.8 billion in 2020 to $48.3 billion by 2025, its greater involvement in online retail operations is imperative.
Today's Headline in NewsHours
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3:10 #Deadline for linking PAN with Aadhaar extended till June 30
3:45 Government to soon announce PLI for drones
4:15 Microsoft brings the power of AI to cyberdefense with Security Copilot
4:47 #Disney eliminates its Metaverse division
5:23 #Apple launches iOS 16.4 update
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How Web 3.0 is seBy VARINDIA | 39 views
Adoption of Metaverse continues to grow
The adoption of the #metaverse is increasing as more and more people become interested in virtual environments and immersive experiences. The potential economic impact of the metaverse is difficult to predict with certainty, as the concept of the metaverse is still evolving and there are many factors that could influence its development and adoption.
There is no doubt that the metaverse has the potential to be a significant contributor to the global economy. Some companies, particularly those in the gaming industry, have already established a strong presence in the metaverse through virtual worlds and platforms like Second Life, Roblox, and Fortnite. In addition, major tech companies like Facebook and Google are investing heavily in the development of virtual reality and augmented reality technologies, which are key components of the metaverse.
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2:35 #Truecaller opens its largest office outside Sweden HQ in Bengaluru
3:13 Nepalese Prime Minister’s official Twitter account hacked
3:48 #Google to discontinue its AI Glass amid rising costs
4:20 Centre says Twitter can’t have freedom of speech and expression protection under Article 19
5:00 Indian scientists, engineers acquire 100 patents for #6Gtechnology
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Adoption of Metaverse continues to growBy VARINDIA | 34 views
Navigating the Metaverse
The #metaverse is a 3D social network. Instead of a profile, you have an avatar, and so do your friends. People will be there in the form of avatars. Instead of a news feed, you have social hubs where people gather to share news, gossip and play games.
The use of avatars in the metaverse represents a paradigm shift in the way individuals interact in virtual environments. With the ability to customize appearances, avatars provide a level of anonymity that empowers users to freely express themselves and engage in a wide range of activities, from gaming and socializing to work-related events.
The role of avatars is poised to become increasingly significant. They offer a new level of interactivity and connection, bridging geographical distances and opening up new avenues for human connection. As the metaverse continues to grow and evolve, it will be exciting to see the role of avatars and the ways in which they shape our virtual experiences. Whether for gaming, work, or socializing, avatars are poised to play a crucial role in the metaverse.
At the same time, the biggest concern with Meta is privacy. If people are living their lives in a virtual world, how will the information they share be protected? Only time will tell how Meta handles the privacy challenges of the Metaverse, but it's certainly an exciting time in the world of virtual reality.
Today's Headline in NewsHours
0:00 Intro
2:01 Ex-Mastercard CEO Ajay Banga gets nominated for World Bank president
2:35 #Amazon introduces new male voice option for Alexa’s responses in India
3:15 Redington India shares soars high following departure of its biggest shareholder Synnex Mauritius
3:57 #Microsoft brings AI-powered chatbot to Bing app on iPhone, Android
4:30 #GoogleMaps comes under scrutiny again from U.S. Justice Division
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Web 3.0, Metaverse and blockchain to transform customer behaviour
Web 3.0 both emancipates the customer and provides a huge competitive advantage to businesses today. Moreover, it empowers customers to manage their data and avoid exchanging it with third-party organizations without using a browser.
Given long-prevailing concerns about how businesses use customer data, this could be a very positive development, restoring trust between brands and their
customers and enhancing overall customer experience. In a similar fashion, the #Metaverse is expected to have a significant impact on customer behavior.
Leveraging such next-gen platforms, customers will be able to access virtual storefronts, products and services from anywhere, at any time, without having to physically travel to a store. Aside from allowing customers to preview products in a way that is not possible in the physical world, it’ll allow for real-time data gathering and analysis, enabling businesses to offer a highly personalized shopping experience for each customer.
On the other hand, blockchain technology is reimagining day-to-day processes. When used the right way, blockchain is a next-generation technology that has the potential to unlock valuable data and revolutionize existing processes. Characteristics of blockchain, like immutability and decentralization, have made it attractive to the numerous industries where it has already been adopted.
Consider the finance sector, for instance. Traditionally, recording procedures in finance have used paper. Blockchain replicates the nature of this paper trail in the digital domain, with a permanent, unalterable record. Since block history cannot be removed, ownership can always be traced.
This sort of transparency significantly simplifies organizational processes and enables work to be done swiftly and without hindrance. Blockchain technology may also be able to eliminate the need for intermediaries in transactions, thereby eliminatingBy VARINDIA | 41 views
Adoption of Metaverse increases
The metaverse is a fast-growing trend with a considerate penetration rate of users for various applications such as gaming, content creation, social interaction, learning & training, and online virtual shopping.
Major factors expected to drive the revenue growth include a growing focus on integrating digital and physical worlds using the Internet, increasing momentum and popularity of Mixed Reality, Augmented Reality, and Virtual Reality.
Today, several e-commerce players are adopting digital world services to showcase the products in the virtual world to gain real-world experience. There are leading players in the metaverse industry who are investing heavily into these areas. Going forward, 5G will effectively support the Metaverse and make it possible for digital words to function.
The growth is complementing the surge in online video gaming adoption and rising consumers preference for online shopping of retail products. A report says, the global gaming audience for e-sports is projected to reach 646 million by 2023. Such an increase in the gaming audiences has created a massive demand for the services market.
American multinational investment bank Goldman Sachs, calls metaverse a $8 trillion global opportunity by 2025 with India's own Metaverse-non-fungible technology economy—already worth an estimated $50-100 million annually— and is expected to touch $100 billion by 2025.
The report said that globally brands are already spending 2-5% of their digital budgets on NFTs (the most successful element of metaverse till date), and that could touch 30-40% in the next five years.
Notably, companies, especially those in non-tech sectors, are now increasingly investing in the technology for better engagement with customers, brand awareness expansion, and identification of new revenue streams.
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2:17 After Outlook faces outage, Microsoft finds baBy VARINDIA | 34 views
Adoption of Metaverse, long miles to go
The #metaverse represents the next step in the evolution of online interaction. Prior to the COVID-19 epidemic, online communities had already begun to displace their in-person counterparts. Now we are witnessing most of the enterprises insisting on the on-premise work or hybrid work style. Virtual style of working fever is getting washed off.
The metaverse, a modern technological marvel, offers a great virtual location for collaborative online activities. The popularity of these digital gatherings is rising rapidly because of the numerous mind-blowing benefits it offers. With this, individuals can create their own metaverse platforms for hosting events and discussing company growth plans. However, everyone prefers physical interaction, whereas traveling or physical presence is the bottleneck.
Metaverse gaming stands out as the most exciting and original of the current crop of business concepts. Extreme expansion is possible by 2023 and if you're a new company or an entrepreneur with lofty goals then the Concepts for games set in the metaverse may prove ideal.
The NASSCOM released a study with McKinsey & Company as knowledge partners, titled “Metaverse – Prepare to win” states that, while at-scale Metaverse adoption is likely to be 8-10 years away, and majority implementations are at POC or MVP stage, the space is witnessing strong early adoption. Enterprise Metaverse adoption maturity trends are similar to AI trends back in 2017.
In a survey conducted by McKinsey & Company, 57% CXOs in 2022 have Metaverse initiatives underway, both long- and short-term, compared to a similar survey conducted on AI adoption maturity in 2017.
Enterprises are starting to implement metaverse use-cases across the value chain. By 2030, sectors such as retail, manufacturing, media, healthcare, telecom, professional services and banking are likely to be major spend drivers of enterprise use cases in metaverse.
The potentialBy VARINDIA | 22 views
Metaverse to disrupt e-comm experience
#Metaverse technology will allow brands to offer shoppers a highly personalized digital experience. Where, the shoppers are able to purchase products and brands that don’t have a physical presence in their regions but can still be acquired online and delivered right at their doorsteps.
The metaverse is reshaping the way brands do business and how consumers behave. Right now, we’re seeing big and small companies across various sectors venture into the digital world.
According to Statista, the global e-commerce market reached $4.9 trillion in 2021 and is expected to hit $5.5 trillion in 2022. E-commerce platform, Shopify, stated that the growth of the global e-commerce market shows that “borderless e-commerce is becoming a profitable option for online retailers.”
While e-commerce represents a divide between physical and digital shopping experiences, the emergence of the metaverse can bridge the gap between e-commerce and brick-and-mortar retail to create a whole new shopping experience that could disrupt e-commerce.
Metaverse technology such as AR-powered try-on experiences already allows shoppers to virtually try on products before making the purchase, transforming 2D catalogues into real-time experiences in the digital world.
The potential of the metaverse to connect customers with brands in ways that create an exceptional emotionally positive experience cannot be understated. The metaverse will empower customers to traverse the virtual and physical worlds when connecting with the business of their choice, turning the notifications and transactions of the past into intelligent, real-time conversations — that is what will differentiate businesses moving forward.
70% of customers believe the ability to try, touch and see products are the main aspects of an in-store experience. This is going to be solved and fulfilled in the metaverse, as AR and VR allow the same to happen, all from the comfort of your home.
By VARINDIA | 18 views
Metaverse - a game-changer for marketing
The #metaverse is shaping up to be so much more than video games and entertainment. Businesses are getting the opportunity to get in action in ground-breaking and highly disruptive ways.
However, contrary to what some believe, the metaverse is less a substitute for business location and more of a complement to it. As a result, companies will have to think more strategically about where to place offices and innovation hubs to attract and connect talent and how to balance their physical and virtual footprints.
Rather than reducing physical sales, the metaverse could unlock opportunities for retailers by bridging the material with the digital. It’s becoming more apparent that a hybrid, omnichannel approach is the way of the future.
Over the course of a year, the number of companies working on the metaverse grew from 200 in July 2021 to more than 500 now, according to a report on the metaverse by market researcher Newzoo.
The metaverse will make physical location a more — not less — important consideration for business. To some extent, this is already playing out: Cities like Dubai and Shanghai are launching strategies aimed at attracting metaverse-focused businesses and people. For brands, this could mean ideal locations to experiment among enthusiastic early adopters.
Companies will have to think more strategically than ever before about where to place offices and innovation hubs to attract and connect talent, where to locate retail shops to attract customers and heighten brand awareness, and more generally how to balance their physical and virtual footprints.
As the metaverse grows in popularity and more businesses begin offering virtual, immersive experiences, business leaders must ensure that they are not getting lost in hype. The metaverse has been a game-changer for marketing. It provides an immersive, interactive environment that allows brands to connect with their customers on a whole new level.
ToBy VARINDIA | 47 views
XR Startup Program
The program by MeitY and #Meta will support 40 early-stage start-ups working in XR technologies with a grant of Rs 20 lakhs each. Further, the Grand Challenge will encourage early-stage innovators in sectors like education, learning and skills, healthcare, gaming and entertainment, agri-tech and climate action, and tourism and sustainability.
The Minister of State for Electronics and IT and Skill Development and Entrepreneurship, Rajeev Chandrasekhar said, “It is an important day in terms of achieving Prime Minister Modi’s vision of making the next 10 years as India’s Techade – full of opportunities for young Indians. It is also an important milestone in the area of #Metaverse which is an important part of the emerging future of the internet.”
The innovators will be provided support to upscale from the R&D phase to developing workable products and services. At first, 80 innovators will be shortlisted to attend a bootcamp, out of which, a total of 16 innovators will be provided grants of Rs 20 lakhs each and further support to help them develop Minimum Viable Product (MVP)/ prototypes.
Emphasizing on the potential of Indian #Startups from tier 2/3 cities and how the government is committed in encouraging them, the Minister further added, “Young Indian Startups, especially from tier 2/3 cities, will play a significant role in emerging tech areas like Web 3.0, blockchain, AI, and metaverse, and will shape the future of technology and the internet for India and the world.”
Joel Kaplan, VP- Global Policy, Meta, also said, “India will play a pivotal role in defining future technologies. Decisions and investments made here in India now shape global discussions on how technology can deliver more economic opportunity and better outcomes for people. It is critical that we help to create an ecosystem that will enable India’s tech startups and innovators to build the foundations of the metaverse.”
He noted the significant stridesBy VARINDIA | 16 views
A Reality Check on Metaverse
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).
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, as reported in the recent Check Point Mid-Year Security Report. It will likely be based on authorization, and user accounts will get hijacked, so it is expected that identity and authentication will sit at the heart of everything we want to do.
According to a report by DappRadar, a company that tracks user behaviour across blockchain projects, in late 2021, it was reported that over half-a-million Indian users have shown their interest in non-fungible tokens and metaverse projects with India ranked fifth, only behind the US, Indonesia, Japan and Philippines, in terms of interest in metaverse projects.
It is tricky though, as people might want to have multiple identities within the Metaverse, perhaps one for transacting work conversations and another for personal shopping and entertainment.
This adds another layer of complexity because there’s then no single identity that says it’s definitely you. The answer could be in chained identity so, will blockchain then help us understand where we’re transacting and who with?
This is a major challenge. And since blocBy VARINDIA | 33 views
University to Metaversity
A treat that is enabled by #5Gnetworks is novel #metaverse applications and a shift in consumer behaviour. Experts say, Metaverse is a hype, created by the tech giants including Facebook, Google, Microsoft and Apple. The way that companies like Google and Facebook exploit people’s data should at least raise some questions about whether that’s going to go smoothly.
The Metaverse requires a powerful, fast network. And here is where 5G becomes relevant for higher education institutions. Powerful 5G network technology with its low-latency, and Multi-access #EdgeComputing (MEC) will play a paramount role in the efficiency of the Metaverse experience.
Metaversity is an immersive virtual reality platform where remote faculty and students don VR headsets and meet synchronously as they would on a physical campus. In some cases, the virtual campus is a digital replica of the institution in which they are enrolled.
Metaversity proponents say that VR boosts student engagement, achievement and satisfaction. But some scholars are concerned that the private companies that license the technology may prioritize their bottom lines over academic freedom, exploit students’ data or reproduce possibly biased narratives in an immersive format that becomes students’ go-to representation of events.
The Metaversity is a university immersive environment which combines VR and AR technologies, a Digital Twin of a physical campus, and where students and faculty can interact with each other via their Digital Twin, a digital representation of themselves. The Metaversity-vision will enable universities to scale and teach billions globally, offering all the regular benefits but at a fraction of the price.
The metaverse also removes spatial barriers! No matter where you are as a learner, you can step into immersive worlds for any learning purpose. Often, these have spatial persistence, i.e., learners and teachers from around the world can manipulate and waBy VARINDIA | 17 views
Metaverse revenue
#Metaverse is the convergence of the physical and digital realms in the next evolution of the internet and social networks using real-time 3D software. It presents an opportunity for leading online entertainment and social media companies to capitalize on new revenue streams.
Gaming hardware, including gaming PCs & peripherals and AR/VR hardware such as Facebook’s Oculus and Microsoft Hololens, accounts for the remainder of the primary market opportunity. HoloLens was the first head-mounted display running the Windows Mixed Reality platform under the Windows 10 computer operating system.
Online game makers including Roblox, Microsoft, Activision Blizzard, Electronic Arts, Take-Two, Tencent, NetEase and Nexon may boost engagement and sales by capitalizing on the growth of 3D virtual worlds. Games that successfully pivot towards virtual 3D worlds can capture a greater share of engagement and user growth, accelerating sales growth.
Secondly, Brands & retailers are looking for Metaverse to adapt to interact and connect with their consumers enabling shoppers to experience their brand in a virtual environment providing a memorable and an immersive experience is quickly becoming the next frontier in Retail.
Several brands are now using the virtual platforms to directly engage, influence and in many cases, disintermediating the retailers. Hence, retailers can no longer afford to be on the side-lines. It is interesting to see how this is now beginning to influence retailer’s corporate strategy & business models, thereby warranting a relook at their technology roadmaps.
Going forward, there is no doubt that Metaverse is here to stay. The Gen Z- the digital natives who are sidestepping the traditional retail formats are favouring the gaming, social & virtual platforms accelerating the move towards metaverse by fearlessly marching into this new world.
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2:3By VARINDIA | 23 views
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 | 61 views
Adoption of Metaverse
The #metaverse has the potential to impact everything from employee engagement to the customer experience, omnichannel sales and marketing, product innovation, and community building. Examining its potential effect should be part of strategy discussions, with leaders accelerating their analysis of how the metaverse could drive a very different world within the next decade.
Of course, many questions remain to be answered including how virtual worlds will be balanced with the physical world to ensure the metaverse is built in a responsible manner, how it can be a safe environment for consumers, how closely it will align with the “open” vision of the next iteration of the internet, and whether technology can advance quickly enough to build the metaverse of our imagination.
The metaverse technology stack has four core building blocks: content and experiences, platforms (such as game engines), infrastructure and hardware (including devices and networks), and enablers (such as payment mechanisms and security).
Large technology companies, venture capital, private equity, start-ups, and established brands are seeking to capitalize on the metaverse opportunity. Corporations, venture capital, and private equity have already invested more than $120 billion in the metaverse in the first five months of 2022, more than double the $57 billion invested in all of 2021, a large part of it is driven by Microsoft’s planned acquisition of Activision for $69 billion. However, experts say, Metaverse is a double-edged sword.
With the vast and sophisticated data that will be collected within the metaverse, cybercriminals will be looking for ways to hack and game the system. Prevention of money laundering, microtransactions, intellectual property, and identity theft should be prioritized by financial firms building a metaverse, or offering products and services in one, so users feel safe using this technology. Because, as the saying goes, “with great powerBy VARINDIA | 52 views
Metaverse in Healthcare
It is undoubtedly true that #digitalhealth is on the booming stage and today, many people are unaware of how the metaverse can revolutionize multiple industries, including the healthcare sector, but the larger question is - can it bring the cost down while we embed all of them together to create the new health metaverse, in complying within the regulation.
The Metaverse is expected to be an effective tool to help perform complicated surgical procedures and enhance patient care. As surgical procedures were already using robotics, now complicated surgeries are all set to use Augmented Reality and for efficient diagnosis are using tech such as smart glasses.
At the same time, Virtual reality is getting used by doctors and experts to train fellow doctors and medical staff, wherein virtual reality can be leveraged to take a learner within a human body and can provide 360 degree view of a patient's ailment or to replicate procedures that are applied in the real world.
The entire interactions can be recorded and viewed over the desktop screens to provide minute details. There has been the use of Augmented reality in Surgical procedures, as surgical procedures were already using robotics, now complicated surgeries are all set to use augmented realities.
Be it removal of cancerous tumors or performing a complicated spinal surgery, doctors are looking forward to new ways of performing these surgeries with precision. Usage of robotics or what is also known as robot assisted surgeries were already in use to perform complicated procedures with precision and flexibility.
Microsoft is supporting different tech stacks to build metaverse apps rapidly, this space is definitely going to get crowded. Some of the tech stacks are provided by Microsoft on Azure around Metaverse, similarly AWS is moving ahead with the concept of digital twins. The value of Digital Twins is using this data to derive actionable insights, which is achievedBy VARINDIA | 36 views
People opting To Become Influencers
The record-breaking number of people quitting their jobs since the start of the pandemic is referred to as The Great Resignation, a term coined in 2021. Many people have concluded that their work-life balance has become more essential after spending a significant amount of time working from home without commuting. Numerous studies have shown that the pandemic is the main cause of increasing burnout worldwide, including in India. Due to extended emotional and mental stress, most employees experienced burnout and tiredness, which is to blame for the significant turnover rates that businesses worldwide were forced to experience as a result of the pandemic.
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Every week, a group of laid-off workers are deciding to try their luck in the social media work economy, another new job trend. In India, there are over 15 million influencer workers, and the industry is quickly changing to reflect the preferred working habits of millennials and Gen Z.
Although employees were almost as likely to identify intangible elements connected to meaning, money isn't enough by itself to keep them. Employees considering a career move placed job fulfilment and the ability to be one's authentic self at work second and third, respectively.
The staff value flexibility at work more. There is a gap between employees' perceptions and employers' perceptions, as 29% of employees stated they would prefer full-time remote working but only 15% believed their business is likely to embrace this approach.
With shifting from hometown, settling in another city, increasing pollution, population, sky-high prices of commodities, stress build-up from office deadlines, workplace toxicity, and unrealistic deadlines are making many employees choose to leave their jobs and make a career on social media instead.
It should come as no surprise that so many individuals desire to work as digital content creatoBy VARINDIA | 67 views
Web3 professionals
In India, #cryptocurrency, metaverse, and non-fungible tokens or NFTs are the most popular and desired fields for a Web3 career. Indian users interested in working in Web3 show a stronger passion for #metaverse, NFT, and blockchain-based gaming, over-indexing the global average.
As per KuCoin, the finding unveils details about India’s promising talent pool that bears the potential to lead the world in the Web3 space. The youth is fuelling the future of Web3 in India and Indian Web3 professionals are younger than their global counterparts.
72% of #Web3 professionals in India are very happy with their careers so far, recognizing the industry’s benefits such as space for growth and innovation and better welfare. Additionally, 60% of surveyed Indian users who never worked in Web3 are very interested in exploring the career, mainly motivated by space for professional growth and a better salary package in the industry.
The report flagged the shortage of women-led communities, educational resources, and the stress of fast-paced industry as key challenges for Indian women to work or invest in Web3. As per the survey findings, Indian youth have huge potential in disrupting the Web3 space.
However, it has been noticed that there are fewer women-led Web3 communities as compared to male. The survey also shows that many women are hesitant to engage in Web3 due to perceived limited access to related educational resources and potential stress from the fast-paced industry.
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2:19 PM Modi launches India International Bullion Exchange in Gujarat
3:01 India playing significant role in Apple’s revenue growth, says Tim Cook
3:36 #PhonePe acquires Indus OS
4:07 #Microsoft found Raspberry Robin malware used for Evil Corp attacks
4:47 MIT Researchers develop ultrasound stickers
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Security breaches in Metaverse
A report says, an average website is attacked 62 times each day. Needless to say, businesses that are scaling their digital operations need the power to protect their users’ data while also proactively checking for and verifying potential threats to security. That level of protection is only possible with solutions that consider both cybersecurity and cyber resilience.
Cybersecurity and cyber resilience solutions are continually adapting to increasingly complex cyber threats. #Cybersecurity and cyber resilience are two strategies to safeguard sensitive information such as a user’s personal and financial data, but they achieve their goals during different stages of a cyber-attack.
Firewalls and antivirus protection, for example, are cybersecurity tools that proactively monitor for threats in network traffic. Cyber resilience, on the other hand, entails hardening data assets’ existing defenses against attacks that are already underway.
With the rise of virtual and mixed reality spaces, new types of attacks on new targets are becoming more likely. Any possible virtual world festivals or events would be an obvious target, although with far fewer consequences than attacks on similar events in the physical world.
While such attacks may cause only minor physical harm, the large sums of money being exchanged for virtual products and virtual real estate could result in significant financial losses for the victims.
With massively increasing volumes of data being stored and traversing networks, cybercriminals have far more targets than ever before. Experts say, #Metaverse plays a more dominant role both in terms of brands as well as transaction and the chances of fraudulent activities has increased. Various issues metaverse can cause in theft of data due to the system being faulty. Social engineering can lead to identity theft, among others.
A decentralised identity management solution is highly needed because it allows coBy VARINDIA | 24 views
Gaming industry shifting to Web3 and Blockchain
With advancements in technology, games have become more accessible and immersive than ever before, attracting people from all walks of life. The Gaming Market was valued at $198.40 billion in 2021, and it is expected to reach a value of $339.95 billion by 2027, registering a CAGR of 8.94% over 2022-2027.
Today, gaming has become a keystone in the entertainment sphere – replacing TV and even movies in key demographics. Constant innovation and technological advancement such as 3D graphics, VR, and AI that video games are continuously evolving and players want more realistic, fully immersive simulation for their gameplay.
Mixed-reality experiences, #Blockchaintechnology, NFT, and virtual worlds like #Metaverse are what web 3.0 would mean for the consumers. Hence, gaming companies have already started to work towards these advanced technologies for a better consumer experience in the gaming space.
Despite its popularity, this booming industry still faces many challenges such as guaranteeing fair play models and creating effective payment systems. Luckily, upcoming technologies like blockchain are gradually solving these pain points.
At its core, blockchain tech introduces decentralized and secure solutions that can be used to power a wide range of functions within the gaming industry. Most notably, non-fungible tokens; these are unique digital assets that can be traded and sold on secondary markets without third party interference.
Unlike the centralized traditional gaming ecosystems, NFTs allow gamers to truly own their virtual items and to participate in decentralized tournaments with minimal risk of fraud or tampering. Will the next era of games be hosted on blockchain?
Going forward, it is likely that most games will pivot into the metaverse. It is a new platform and a new application type, similar to how we talked about the web and websites in the early 90s. This explains why tech giants such as Microsoft and MBy VARINDIA | 49 views
Revolution through Metaverse
When we speak on either investment or disruption in digital media, it essentially speaks about these top four platforms such as Facebook, Twitter, Linkedin and Youtube. Most of the investments are going towards these four platforms. Since they are having huge money, muscle power, along with strong developers networks.
The new age technology #Metaverse is the first public #blockchain-based open platform designed for digital assets’ initial offering and exchange. It aims to break the technical barriers of blockchain applications and to reduce the cost of developing Apps. Moreover, social media platforms are in dire need of a makeover. Their model has become outdated regarding user privacy, data security, transparency (or lack thereof), censorship resistance, etc.
To tackle these issues, Metaverse proposes a brand-new solution – decentralization! So, let’s see how Metaverse is disrupting the current social media realm.
The metaverse brings together a range of next-generation technologies, from cloud computing to artificial intelligence, blockchain, #cybersecurity, the Internet of Things, virtual reality, augmented reality, and digital twins. The challenge is “With no standard definition yet, the metaverse means different things to different people, depending on the nature of their business.” This means most companies can make the metaverse be whatever they want it to be.
Social media is a growing industry, and it’s not slowing down anytime soon. From social sharing to advertising, the amount of social media platforms available for business owners is staggering. The metaverse is to bring a simulated 3D environment with avatars that resemble humans. The technology built on top of the blockchain and changed social media forever.
Going forward, Metaverse will disrupt the current social media world. The current social media platforms we use today are centralized, built on traditional distributed database technologies, and lackBy VARINDIA | 35 views
Transformation in Tech World
Recently, Facebook Rebranded as Meta: In 2021, CEO Mark Zuckerberg introduced Meta, which brings together the apps and technologies under one new company brand. Meta’s focus will be to bring the metaverse to life and help people connect, find communities, and grow businesses. Only time will tell whether the competing extended reality experiences shape up to become a single connected metaverse.
But here’s what’s clear now: Organizations across industries have already been looking to metaverse components, for example, extended reality headsets, blockchain and non-fungible tokens, IoT, and cloud technologies, as a means of connection and new sources of revenue. That exploration is likely to continue in new ways as these developing technologies increasingly interconnect and mature.
At its heart, the Metaverse is defined by its immersive experience for users, and this wouldn’t be possible without AR and VR. The Metaverse and VR are terms often used interchangeably, but there are some differences. The Metaverse is all about connected VR experiences. A single-player game in VR is not part of the Metaverse, but a shared meeting in VR is. In the future, the Metaverse may expand beyond VR to much more futuristic technologies.
Whereas, Blockchain technology provides a decentralized and transparent solution for digital proof of ownership, digital collectibles, transfer of value, governance, accessibility, and interoperability. Cryptocurrencies enable users to transfer value while they work and socialize in the 3D digital world.
For example, crypto can be used to buy virtual lands in Decentraland. Players can purchase 16×16 meter land parcels in the form of non-fungible tokens with the game’s cryptocurrency MANA. With the support of blockchain technology, the ownership of these virtual lands can be established and secured.
Going forward, crypto can potentially incentivize people to actually work in the metaverse. As more companies takBy VARINDIA | 33 views
Banks using metaverse
There are platforms that are readily available to empower banks with their own metaverse that provides a highly personalized experience to their customers by allowing banks to use cutting-edge technology with a human touch which will significantly deepen and personalize customer interaction.
It will enable banks to harness the potential of enhanced User experience to bring out the best outcomes for data visualization and gamification of processes and procedures. With this it will allow banks to extend their own Metaverse for clients, partners, and employees, through services that will include Relationship Manager & Peer Avatars and Robo-advisors.
Besides its potential regarding product and service innovation in payments, investment, insurance and loans, the metaverse is an opportunity for banks to foster deeper customer connections.
It can help restore the in-person dialogues that are currently missing in digital channels and help create memorable experiences for the next generation of banking customers, many of whom may never need to step into a bank branch in their lives. With this you choose a digital avatar for yourself, walk into the bank lounge and access the available banking services.
Experts say while digital banking is functionally interdependent and inclusive, it is all too often seen as being emotionally detached. The metaverse allows banks to use cutting-edge technology with a human touch that will significantly deepen and personalise customer interaction.
It is an opportunity to restore the dialogues lost in digital channels. Digital banking will be bigger, not only allowing remote access to services, but adding a personal touch.
Today's Headline in NewsHours
0:00 Intro
2:03 #RajnathSingh launches 75 newly-developed AI defence products
2:43 #Bitcoin expected to drop to $10,000 rather than $30,000
3:17 Govt to introduce Bank privatisation bill in Monsoon Session
3:53 RisBy VARINDIA | 18 views
Data Poisoning
#Datapoisoning is dubbed as the next “big thing” when it comes to cybersecurity threats. Data poisoning can occur if hackers gain access to a model’s private training data, or relies on user feedback to learn. Increasing adoption of disruptive technologies like AI, the global market for AI cybersecurity is expected to triple by 2028 to $35 bn. AI and ML are leading towards data poisoning.
The role of AI and machine learning (ML) have become critical technologies in information security, as they are able to quickly analyse millions of events and identify many different types of threats – from malware exploiting zero-day vulnerabilities to identifying risky behaviour that might lead to a phishing attack or download of malicious code.
Like any other tech, AI is a two-sided coin. Threat actors are also turning to AI and ML to launch their attacks. Machine learning is believed to be a subset of artificial intelligence.
Data poisoning targets the #MachineLearning aspect of the process. It is a form of manipulation that involves corrupting the information used to train machines. Simply put, data poisoning exploits training data to mislead ML algorithms.
These technologies learn over time, drawing from the past to identify new types of attacks now. Histories of behaviour build profiles on users, assets, and networks, allowing AI to detect and respond to deviations from established norms. AI is ideally suited to solve some of our most difficult problems, and #cybersecurity certainly falls into that category.
With today’s ever evolving cyber-attacks and proliferation of devices, machine learning and AI can be used to “keep up with the bad guys,” automating threat detection and responding more efficiently than traditional software-driven approaches.
The enterprise attack surface is massive, and continues to grow and evolve rapidly. Depending on the size of your enterprise, there are up to several hundred billion timeBy VARINDIA | 16 views
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