The concept of Metaverse has been proposed for almost 2 years and different technology departments have tried to implement different experiences in this virtual world. Now, technology experts in the business panel in Metaverse, which was held on the sidelines of the 24th Telecom Exhibition, discussed the concepts of business and legislation in this industry. Among them, we can mention the businesses created around NFTs
According to the Iran digital economy annotation, Farhad Varess, digital transformation consultant of the Industrial Management Organization, referring to disruptive innovations, said: One of the oldest innovations is electronic publishing, after which the main seals of the publishing industry and many of its limitations were removed.
Also, when these disruptive technologies enter, the business model changes. Like Snap did with taxi agencies. Referring to the deconstruction of artificial intelligence, he said: previous technologies affected business one after another, but artificial intelligence changes all aspects of business.
Varess said about the essential features of this field: Blockchain’s work is the decentralization of information technology, and the basis of this technology is the reproduction and decentralization of information. The high security of these distributed systems made us put money on the blockchain. Bitcoin has been around since 2009, since then NASA and many companies have been hacked, but Bitcoin has not been hacked, which shows its security. Since 2015, Ethereum has made it possible for us to put anything on the blockchain, one example of which is NFT.
Varess further mentioned the commercial issues in Metaverse and said: The goal of Metaverse is to remove the line between the physical and virtual worlds. The metaverse is a concept, not a technology. We have metaverse games that don’t necessarily have to be with glasses and stuff. Like Oxy Infinity and Step-N, which walks in the physical world and is measured in the virtual world. You can earn based on the amount of movement you have had. Even the assets of these games are valuable because of NFT.
He said about the different aspects of the virtual world: Metaverse allows virtual education to be promoted to a much higher level, and in this virtual world we have universities that are called metacities instead of universities. The fashion industry is also very prosperous in Metaverse.
For example, Nike has sold about 800,000 dollars of virtual shoes, which means that when you walk in the Metaverse, your clothes must be branded to show your position. The fashion industry has a special place for avatars in the metaverse. For example, when you refer to a brand to get its representation in Metaverse, your clothes show your status and wealth and can be evaluated.
He said about the presence of famous brands in the world of Metaverse: BMW has released a version of one of its cars in the physical world in Metaverse, or Ford has only released a special car for Metaverse. Even in this world, you can hire digital humans to work for you, for example, manage an event or answer customers in the store. The combination of artificial intelligence and avatar is called metahuman or digital human, whose abbreviation is Dhaas, which means digital human in the form of a service.
In another part of this panel, Mohammad Rahaii, the consultant of Amirkabir University, pointed out the challenges that exist in the country regarding the legislation of cyberspace, he pointed out the challenges created by the lack of laws, and according to the developments in this field, he said: one of the problems in cyberspace business Virtual is the law. We have experienced several big changes in the field of cryptocurrencies since 2016.
Meanwhile, it is not yet clear whether the Central Bank is the trustee, or the Majlis Research Center or the Digital Economy Working Group of the Ministry of Privacy. Due to these problems, a large number of elites migrated. People still don’t know what will happen if they create a business in this area.
He went on to explain the challenges of this field and its effects and said: People have a fantasy that business in the world of cryptocurrencies or Metaverse is a springboard. This is despite the fact that our structures are not ready for these things at all. We don’t even have enough legal literacy to deal with these challenges.
At Amirkabir University, it seemed to us that the most important issue is research and development, that’s why we tried to create a comprehensive document that can be a reference for all decision makers in this field.
Regarding the compiled document, which was compiled with the help of various institutions, Rahai said: Modeling was done and all cause and effect variables were examined in it. There are more than 250 variables in the model that has been created, and we determined what effect a change in each index would have on other items.
To prepare this model, we have interviewed more than 30 experts in this field and we have seen almost all the variables in it. If this model is the basis of legislation, we hope it will create a safe environment for businesses in the next 10 years. All those who want to regulate in this ecosystem can see the items related to their field.
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