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This Is How The World Economic Forum Jumps Into The Metaverse: Davos 2023

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Web3 and Metaverse will take a seat at the 2023 World Economic Forum table as the ecosystem continues to drive innovation across industries.

As Cointelegraph continues to examine, The existence of the cryptocurrency and blockchain ecosystem is largely outside the walls of the WEF.Blockchain Hub Davos, and GBBC’s Blockchain Central were the two central events in the city that brought together the broader cryptocurrency community, which has been somewhat left out of the WEF’s discussion of the blockchain sector.

The metaverse is a notable exception to this trend. Although some Metaverse applications do not work on decentralized blockchain systems, prominent proponents of the field rely on high-level work within the WEF to understand and plan for the future integration of innovative technologies. I am participating in the shop.

The WEF agenda included two workshops directly addressing the Metaverse as part of the 2023 “Define and Build the Metaverse” conference initiative.

The first workshop, “Creating a New Reality: Building the Metaverse,” was led by Chris Cox, Product Manager at Meta. potential.

The World Economic Forum is also investigating metaversal experiences within meetings. The 2023 conference offered attendees the opportunity to experience the forum in a unique, immersive 3D digital session called the Global Collaboration Village.

Personalized digital avatars allowed WEF delegates to explore Davos in the Metaverse and experience it during the week of the conference.decentralized or not, organizations are harnessing the power of Web3 to give their representatives more through virtual experiences.

The blockchain-based Metaverse platform will also be attending Davos, where representatives from the wider traditional financial industry, policy makers, and others hope to learn more about the future of the Metaverse ecosystem and its potential impact. I was.

play in sandbox

Cointelegraph spoke with Sandbox co-founder Sebastian Borget at an exclusive networking event called Swedish Lunch Midweek. every January, The Hotel Schatzalp will host the conference, with many WEF delegates dining and meeting on the snow-covered terraces of this picturesque location on top of Davos.

Sandbox has become a popular decentralized metaverse platform around the world. Collaboration with leading brands and companies is one of its main attractions. As such, Borget attended a high-level workshop on the Metaverse within the World Economic Forum 2023.

Mr. Borget held meetings with ministries and digital transformation leaders to initiate a dialogue on empowering and protecting digital assets and the digital economy. He said it makes sense since half the world’s population now surpasses Generation Z as digital natives.

“We still need to figure out a little bit about what the metaverse is today, and what it will look like in three, five, and ten years.”

Turning the lens to a metaverse-focused conversation within the World Economic Forum, Borget revealed that stakeholders are focusing on privacy and data security considerations.

“How can we ensure that the Metaverse platform respects user privacy and implements sufficient rules or controls to safely and reliably protect users and their digital assets?”

Borget spoke with representatives of the European Parliament, which took effect in May 2018, on what artificial intelligence, cryptocurrencies, and non-fungible tokens (NFTs) should be, and on the general He said he had the opportunity to talk about data protection regulations. that. treated differently.

Sandbox co-founder Sébastien Borget talks with Gareth Jenkinson at the Schatzalp Hotel overlooking the city of Davos.

Borget believes space regulations are inevitable, but hopes these conversations will allow the industry more room to innovate and experiment. This will prevent the metaverse from being crippled by restrictive measures for years to come.

“We have an opportunity to make sure that these rules are not overly prescriptive so that entrepreneurs can create really interesting things here and develop their ideas and move forward. Join the conversation as soon as possible instead of trying.

The Sandbox co-founder emphasized the “productive” nature of the WEF’s Metaverse workshop, explaining that the conference differs from typical conferences with panels and talks.the working group had extensive discussions on key topics within the WEF, and Borget will have ample opportunities to network and engage with the wider crypto community at various events throughout the week in Davos. I got

i need a louder voice

The World Economic Forum and major institutions appear to be fully aware of the capabilities of Web3 and the potential of the metaverse experience. Dirk Lueth and Idan Zuckerman, co-founders of metaverse platform Upland, shared these sentiments in a conversation with Cointelegraph on a snowy Thursday afternoon outside the headquarters of Blockchain his hub on the waterfront.

The couple were in Davos attending conferences and networking with cryptocurrencies and blockchain in mind. Conversations about Metaverse applications provide learning opportunities, and Lueth emphasized the need for industry leaders to have a “loud voice” among policymakers and industry leaders at conferences like the WEF. .

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

“I think everyone has grown accustomed to the idea that the web will evolve into an all-encompassing version. We are taking the first step ofZuckerman explained.

According to Luth, decentralization is another key principle driving digital ownership and the economy. In his view, the Metaverse’s open network offers many business and media opportunities that closed systems cannot.

Zuckerman is more thoughtful, suggesting that the future of the metaverse will be a hybrid with centralized and decentralized elements.

“I always look at decentralization. It’s not 1 or 0, it’s the gradient.

Cointelegraph saw an example of this in Davos. Her two speakers, who moderated a panel on institutional adoption of the Metaverse, represented leading Metaverse his solutions on VR.

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The future of metaverse panels at GBBC. Left to right: David Treat (Accenture), Vince Kax (Spine), Dirk Ruth (Upland), Emma Todd (MMH Group), Gareth Jenkinson.

Accenture’s David Treat talked about advanced augmented reality technology, and Vince Kakas described Vertebrae’s augmented reality and 3D commerce platform. Both projects utilize blockchain technology and serve mainstream commercial clients and institutions.

Interoperability in the Metaverse can be an important part of developing various platforms and applications, but Davos 2023 shows that collaboration and innovation are already happening. Decentralized and centralized are already interoperable, giving us a glimpse into the future of this space.

Explanation: The information and/or opinions expressed in this article do not necessarily represent the views or editorial policy of Cointelegraph. Information contained herein should not be construed as financial advice or investment recommendations. All investments and business transactions involve risk and it is each individual’s responsibility to conduct appropriate research before making any investment decision.

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