Blockchain Technology Gives Rise to Metauniverse Platform

02/27/2023 16:43 • Blockchain Briefs • 100 views

It is reported that on February 24, Ma Zhitao, Vice President and Chief Information Officer of WeBank, said at the “2022 Industrial Blockchain Annual Summit and FISCO BCOS Fifth Anniversary Ecological Conference” that the industry still faces realistic bottlenecks in the deep integration of the digital world and the physical world. The metauniverse platform based on blockchain technology can integrate the scattered digital applications of various industries from “point” to “face”, providing a basis for more comprehensive digitalization.

Ma Zhitao, WeBank: Three possible directions for the deep integration of the digital world and the physical world

Analysis based on this information:

Ma Zhitao, the Vice President and Chief Information Officer of WeBank, recently expressed his views on the deep integration of the digital and physical worlds at the 2022 Industrial Blockchain Annual Summit and FISCO BCOS Fifth Anniversary Ecological Conference. Zhitao believes that despite increasing use of digital platforms, the deep integration of the digital world and the physical world still faces a number of bottlenecks.

This is where the metauniverse platform based on blockchain technology comes in. Zhitao emphasises that blockchain technology can integrate the digital applications of various industries from “point” to “face”, providing a basis for more comprehensive digitalisation. The term “metauniverse” refers to a collective virtual shared space created by the convergence of digital twins, augmented reality (AR), virtual reality (VR), and digital services. The blockchain-based metauniverse will address major challenges and limitations of digital platforms, providing a more effective and efficient way of integrating digital applications.

It is noteworthy that this integration is not limited to financial services providers. By using blockchain technology, metauniverse platforms can unify business processes and data formats across different sectors, enabling a seamless transition from the physical to the digital world. The metauniverse platform will allow companies to share data across different supply chains and ecosystems. This sharing of data will facilitate enhanced collaboration, and smaller firms will benefit from the infrastructure to facilitate their growth.

The metauniverse platform is already in place in several sectors, such as e-commerce and finance, but it can also be applied to industries like healthcare, manufacturing, agriculture, and transportation. The integration of the physical and digital worlds will enable better management of inventory, faster and more efficient logistics, and greater precision in manufacturing. Additionally, the platform will allow for the creation of unique digital identities for various goods and services, enabling transparency throughout the supply chain, and secure communication channels between stakeholders.

In conclusion, the integration of the physical and digital worlds is an essential stage in the development of a globally connected and seamless economy. Blockchain technology provides the necessary foundation for this integration, and the metauniverse platform will play a crucial role in this process. There is need for businesses and industries to embrace the metauniverse platform and leverage it to expand their digital capabilities and beyond.

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