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Sustainable Living With “Tech4Good”

Hernaldo Turrillo — Tue, 26 Jul 2022 13:21:44 +0000

Global challenges like climate change, economic insecurity, deteriorating health, and many others need holistic and tech solutions. Technology For Good (or Tech4Good) is a much broader and inclusive approach that applies exponential technologies capable of addressing critical challenges in the most sustainable way. Is, then, Tech For Good the answer to making the world a better place?

Sustainable Living With “Tech4Good”

Technology has transformed the world, evolving society itself with advancements like printing, navigation, medicine, aviation, wireless, and the internet. But, with time, it became clear that it wasn’t always that these had a net positive impact, and that we need to start developing a world focused on the greater good of society.

Technology For Good (or Tech4Good) is a much broader and inclusive approach that applies exponential technologies capable of addressing critical challenges in the most sustainable way.

Tech For Good: A deeper sustainable perspective

Technology For Good is a comprehensive perspective that allows one to take a step back from techno-solutionism and hyped fads, and understand the dynamics that exist within the various elements of an ecosystem- people, culture, economics, history, and information.

Crucially, integrating all this information and developing a technology that impacts everyone in a positive manner is Tech4Good.

Sustainability with Tech For Good

Sustainable development, according to the UN World Commission on Environment and Development is “development that meets the needs of the present without compromising the ability of future generations to meet their own needs.”

Sustainability can only be achieved by keeping the people (or the living beings) at the core of any development, and this very concept is the integral theme of the Tech4Good approach. Therefore, the fabric of sustainable innovation can be created only if it serves the dual purpose – the positive impact on humanity and taking the global challenges head-on.

Below are the top innovations for promoting better and sustainable living:

Green Cloud Computing Approaches and practices where computing and IT innovations have potential environmental benefits are grouped under green cloud computing.

Green Cloud computing is very efficient for users as it ensures no data loss. It enables a reduction in carbon emissions by 88% and energy consumption by 87%, while also providing ease of working for its users and increasing the efficiency of the process.

Edge Computing Edge computing is a distributed computing paradigm – an architecture that stores data locally in the nearby device on the site of its creation. This is expected to improve response times, reduce data traffic, save bandwidth, reduce energy usage, and consequently carbon emissions.

Edge computing allows retrofitting, i.e. adding new technology to pre-existing infrastructure, reducing the e-waste generated due to replacement.

IoT Sensors IoT (or Internet of Things) sensors are the hardware pieces to detect changes in the environment and collect data. These sensors are a part of an IoT ecosystem that bridge the physical world to the digital one.

IoT sensors may detect changes in temperature, pressure, PM, Co2 levels, motion etc. They share this data with the network they are connected to. This information is crucial for detecting and solving environmental problems.

IoT sensors can also be used in infrastructures to track, analyse, and optimise energy consumption. For instance, IBM has developed a low-cost IoT sensor to detect methane leaks, a global warming contributor and hazardous gas.

Artificial Intelligence

Considered one of the most revolutionary human developments, AI has immense transformative capabilities, empowering the world with some cutting-edge solutions.

From developing new drugs to tracking the human trafficking rackets, optimising energy generation and consumption, and helping people with disabilities- AI is currently bringing radical innovations to the mainstream- making our lives more sustainable than ever imagined.

It can be utilised in many ways to reduce its carbon footprint by managing and tracking its impacts on the environment. Google used DeepMind to reduce the energy consumption of its data centres, and its cooling cost by 40%. AI can be used to create green and clean energy grids, for eco-friendly agriculture, to enhance the sustainability of supply chains, and for monitoring the environment.

Blockchain

The decentralised, immutable, and transparent nature of blockchain technology is the key to harnessing innumerable applications for good. Constant innovations and humanitarian efforts with a positive environmental impact have been the salient features of blockchain that encourage newer and better models from authorised participation. Above that, it also facilitates tracking and monitoring of parameters, while ensuring informed decision-making.

The Tech For Good approach

Placing technology in the context of society, people, and culture is not as simple as downloading an app, or demonstrating a new cookstove, or building a website- those “simple” problems have already been solved.

Tech4Good challenges, on the other hand, are more complex. They are the ones that allow the world to tweak both the available tools and the understanding of their applications; to consider historical activities alongside cultural considerations for the usage of technology; to consider that solving any one particular part of a problem is a gateway to newer unanticipated problems.

The Tech4Good lens is a motivation to look beyond the small scope of the technology itself, and place it within an appropriate context.

Hernaldo Turrillo

Hernaldo Turrillo is a writer and author specialised in innovation, AI, DLT, SMEs, trading, investing and new trends in technology and business. He has been working for ztudium group since 2017. He is the editor of openbusinesscouncil.org, tradersdna.com, hedgethink.com, and writes regularly for intelligenthq.com, socialmediacouncil.eu. Hernaldo was born in Spain and finally settled in London, United Kingdom, after a few years of personal growth. Hernaldo finished his Journalism bachelor degree in the University of Seville, Spain, and began working as reporter in the newspaper, Europa Sur, writing about Politics and Society. He also worked as community manager and marketing advisor in Los Barrios, Spain. Innovation, technology, politics and economy are his main interests, with special focus on new trends and ethical projects. He enjoys finding himself getting lost in words, explaining what he understands from the world and helping others. Besides a journalist, he is also a thinker and proactive in digital transformation strategies. Knowledge and ideas have no limits.

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Infographic: Web 3.0 Nurtures Metaverse With Decentralisation and Data Ownership

Hernaldo Turrillo — Mon, 27 Jun 2022 14:27:35 +0000

• Dinis Guarda’s latest infographic displays how the Web 3.0 internet ecosystem, exploring the ways how techs like Digital Twins and Data intertwine to create a complete digital, metaverse human experience.

• In one of the applications of Web 3.0, the digital world gets immersive by simulating the real world and making it interactive for the users. This is the Metaverse the world is talking about today.

Dinis Guarda Metaverse Infographic: Metaverse Web 3.0 Internet Ecosystem

With an accelerated rush by global corporations to establish themselves in the latest metaverse technology, the world is (knowingly or unknowingly) welcoming the advent of the Web 3.0 era with open arms. Dinis Guarda, founder and CEO of citiesabc, openbusinesscouncil and ztudium, has been exploring the realm since its inception. Contextualising the concepts in a new infographic, here’s how he explains the evolution of the internet to evolve into what we know as Web 3.0 and how it creates an ecosystem using blockchain technology for carving out the metaverse of our future.

Web 3.0: A decentralised version of the internet

The third generation of the Internet, popularly known as Web 3.0, is in its bare infancy. It is the iteration that shifts the control of the internet from centralized players to its builders and users.

But how does this work?

This control chain is orchestrated with the availability of tokens on the blockchain, a decentralised ledger system for digital transactions.

Does this mean we are ushering into a new era where creators, developers, businesses, and users are alike?

Yes, indeed. This is what we mean by decentralisation, Dinis explains.

According to him, Web 3.0 rose to popularity because of its inherent nature to leverage innovation with ownership. In other words, each participant gets property rights over a piece of the internet using tokens- both fungible and non-fungible (or NFTs).

But, that’s just one aspect of it.

Another distinguishing feature is adding an extra layer of security to the transactions with a feature called smart contracts.

Overall, this fixes the core problem of limited functionality in Web 1.0 and the centralised model of Web 2.0.

Dinis affirms that the new Web 3.0 will offer fresh ways to combine the best aspects of the previous eras and enhance them in a decentralised manner.

Referring to his vision of Web 3.0 ecosystem, the existence of digital twin means an individual has two identities- one that exists in the real world (the physical Id), and the other is in the virtual world (or the digital identity, or the avatar).

Now, how are the two worlds connected, let’s find out what Dinis Guarda thinks of this?

Metaverse: Interactivity between a variety of Web 3.0 applications

The Metaverse, as it stands today, is a variety of web 3.0 applications with various levels of interactivity and adoption. It is an immersive digital space that simulates the real world and focused on social connections among digital twins.

The data, available through technologies like cloud computing and blockchain, is collected and enabled with AI within the Web 3.0 ecosystem. This incentivises the creators and users to manage their personal data as they wish.

In other words, the decentralised nature of Web 3.0 offers better data ownership avenues for the users of the ecosystem.

“We are going through a paradigm shift where ownership transforms itself from the real world to the digital world, the metaverse, that encompasses this promise of ownership.”, says Dinis Guarda (title). According to him, “This is not a new concept. However, with NFTs and the blockchain gaining traction, we are going to see a lot of builders and creators innovating across the multitudes of the digital world.”

The Metaverse Revolution: 10 Industries That Will Change

The digital world, hereafter…

Over time, these multiverses might progress towards complete decentralisation, opening fresh avenues for newer platforms, and outdating the traditional ones. Dinis concludes that while Metaverse and Web 3.0 are still evolving, data interoperability, data ownership, and parallel multiverses are some of the budding fruits in this garden of the digital realm.

Hernaldo Turrillo

The post Infographic: Web 3.0 Nurtures Metaverse With Decentralisation and Data Ownership appeared first on OpenBusinessCouncil Directory.

A Digital Certification Directory & Marketplace Created For Business: openbusinesscouncil

Hernaldo Turrillo — Mon, 13 Jun 2022 05:22:47 +0000

• SMEs represent 95% of global business and contribute to 40% (on average) of national income (GDP) in emerging economies.

• They are an important growth driver for the world economy with greater employment opportunities and sustainable prosperity.

• Digitalisation is one of the key levers to pull to ensure that SMEs achieve this potential.

• Openbusinesscouncil provides a business and trade directory, digital identity certification, and marketplace for SMEs. Its directory, resources, and marketplace help businesses connect with each other to enhance their respective digital transformations and improve their outreach.

Small and Medium Enterprises (SMEs) are defined as non-subsidiary, independent firms which employ fewer than a given number of employees. There are approximately 400 million SMEs globally, forming the very backbone of the world economy. They are the main source of job creation, accounting for over 95% of companies and 60-70% of employment across the world.

While their growth and potential are enormous, a vast majority of these businesses face complex and often insurmountable challenges: a lack of business connections, limited awareness of digital tools and best practices, limited staff, lack of timely information, poor funding, and economies of scale.

During the pandemic, the world realised that digital ways of working, contactless interactions, and augmented and autonomous operations enable a high degree of business continuity. Around 90% of the world’s businesses and SMEs do not even have a website or digital profile and lack financial support. And even if they do, they pay for their digital footprint significantly to the service providers, and more importantly, have poor or no social media engagement.

Data from World Bank and OECD states that online platforms are central to the digital transition of the society, and provide important channels for growth. With digital transformation platforms, SMEs can improve their productivity, lower operational costs, access business intelligence services, and generate economies of scale and of scope.

SMEs face challenges when operating on online platforms. Lack of digital skills and non-adaptive business models are frequent barriers. Achieving digital transformation and realising the benefits requires a collective push across the whole society and industries. There is, thus, a global effort to now leverage the potentials that lie at the bedrock of digitalisation- to raise industry productivity, upskill employees, uptake new work practices, and create regional new hubs for entrepreneurship and innovation.

Building a 4IR-ready platform: The openbusinesscouncil Solution

Openbusinesscouncil is a global business digital certification directory and marketplace working with business networks, governments, tech ecosystems, and leading universities and organisations. It allows businesses to grow, find trusted clients and partners, find the necessary digital transformation, and finance international trade.

Openbusinesscouncil allows the businesses to:

• certify themselves in a global leading digital directory,

• list their company, people, products, and website for maximum visibility and trust,

• access, and do business with verified businesses,

• grow their business in a global trade corridor between chambers of commerce and governments,

• access to financial solutions, trade finance, and tools for their business with the likes of Mastercard.

Services offered by Openbusinesscouncil (extracted from the video clip)

With its recent release, openbusinesscouncil brings forth to its global audience that the platform uses Fourth Industrial Revolution (known as 4IR) technologies, like blockchain, Artificial Intelligence to create an environment of transparency and trust, leveraging businesses to grow and get certified securely and efficiently with the maximum rewards – both short and long term.

Openbusinesscouncil is a platform to grow, empower and digitally transform businesses. Join the revolution where openbusinesscouncil opens doors to a thriving business economy- one that fosters sustainable growth and competitiveness.

Hernaldo Turrillo

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A Story About the Digital Revolution

Hernaldo Turrillo — Fri, 15 Apr 2022 16:40:38 +0000

A Story About the Digital Revolution

The Digital Revolution timeline refers to the shift from mechanical devices and analogue electronic technology to digital electronics as a means of storing, transferring and utilizing information. This era started during the 1980s and is ongoing. The Digital Revolution is called the beginning of the Information Era. This is the starting point of what we refer to as the digital revolution which began in the second half of the 20th century. Digital revolution example is the adoption and increase of digital computers and digital storage of information. Digital revolution impact has led to the development of more advanced computer systems. Digital Revolution inventions begin with the invention of the Internet and the rise of home computers. It is sometimes called the Third Industrial Revolution. But why has it become a revolution? The characteristic of digital technology is continually changing; it is progressively branching out and boosting productivity across a wide range of sectors and industries. Different events have led to the broad adoption of digital technologies which have changed forever the way we exchange and use information.

Digital revolution timeline

The invention of the revolutionary transistor in 1947 can be considered the beginning of the digital revolution timeline. The transistor, which was introduced in 1947, launched the way for the development of advanced digital computers. The government and various other organizations used computer systems during the 1950s and 1960s. Eventually, the World Wide Web was created. In the 1980s the computer became a familiar machine and gradually by the end of the decade, the ability to use computers became a necessity for many jobs. The way continued and by the late 1990s, the Internet became a normal part of most businesses and a part of everyday life for almost half of the American population. Digital Revolution inventions have caused in the decade 2000s that mobile phones were commonly used. In this decade the number of Internet users increased, furthermore, the television started to transition from using analog to digital signals. Digital revolution impact in the 2010s and beyond led to widespread use of the Internet. As a digital revolution example, mobile communication became very important, as nearly 70 percent of the world’s population owns a mobile phone. The connection between Internet websites and mobile gadgets has become a standard in communication. The innovation of tablet computers made it very easier to use the internet is everywhere. This allowed users to consume media and use business applications on their mobile devices, anytime they need.

Digital revolution inventions

Digital Revolution inventions started with the invention of the revolutionary transistor in 1947. The subsequent technological advancements made computer system components have been produced more energy-efficient and less costly. This digital revolution impact led to the development of computers with more complex processing circuits and storage memory able to hold both the program being run and the data it was working on. The Internet as a digital revolution example has changed many aspects of human life. Digital revolution timeline shows that by the 1950s and 1960s, many governments, militaries and other organizations were already using computers to manage complex data and functions. Simultaneously scientists began to consider time-sharing between computer users and the possibility of achieving this over wide area networks. When a message was sent over the ARPANET (which is short for Advanced Research Projects Agency Network) in 1969, the public was introduced to the concepts which led to the internet. In this way, the first computers were connected, and further software development enabled remote login, file transfer, new ways of communication and email.

Digital revolution impact

The digital revolution impact is the most significant event in information release and definitely had a huge effect on human communication. Another development in digital data technology was a compression technique called discrete cosine transform. It became a fundamental item to the digital revolution later, as the basis for most digital media compression standards from the late 1980s onwards, including different digital image formats, video coding formats, audio compression standards and digital television standards. Digital revolution timeline shows that improved performance and reduced costs due to the use of technology led to a wide acceptance and adoption of digital technologies. Shortly afterwards these technologies and digital revolution inventions made their way into a wide variety of equipment and consumer goods. Digital revolution example in the 1980s, shows the popularity of digital devices, with automated teller machines (ATMs), industrial robots, electronic music, video games and computer-generated images in the movie industry, all making their way into daily life. Little by little millions of people purchased home computers, and the first mobile phone was made in 1983; although digital cell phones were not sold commercially until 1991. The first digital camera was created in 1988.

Digital revolution example

Another turning point for the digital revolution timeline was the invention of what became the World Wide Web, starting in 1989. Tim Berners-Lee designed a standard set of rules for communication between systems. This was followed by setting up a server to store information and creating browser software. That was a program that helped to interact with various types of internet resources. With these elements in place, the World Wide Web as one of the digital revolution inventions became publicly accessible. Improvements to the web were a digital revolution impact that made it increasingly simple to use, and this, in turn, brought more users onto the internet. First companies and then individuals realized the potential to expand the capabilities of computers and other digital devices when connecting to the internet. From then on, the internet expanded quickly, and by 1996 it was part of mass culture and many businesses had websites. Across the globe, the pace of digital transformation is accelerating. The private sector continues to invest in disruptive technologies to get ahead of the competition. They adapt their business models to meet ever-increasing customer expectations.

A global phenomenon

Throughout the 1990s, countries of the developed world began to experience an economic boom. This was largely due to the success of the companies using digital technologies and to the advancements in transmission technologies, including computer networking, the internet and digital broadcasting. In the digital revolution timeline, 1999 was very important, because by then almost every country had an internet connection. That was the time when the digital revolution impact became global, with digital technologies spreading to the developing world in the 2000s. By late 2005, digital revolution inventions led the number of internet users to reach one billion, and by the end of this decade, three billion people worldwide used cell phones. Today More and more individuals are using the digital revolution example, the internet. Internet is used for a wide range of purposes: to communicate, interact with other users and organizations, access, use or make available information, or simply for entertainment. These new technologies allowed users to share resources and apply the principle of economy of scale.

The digitally literate society

Digital revolution timeline, as technology became more user-orientated and user-friendly, is experiencing new courses. Individuals nowadays became more digitally literate at all levels. They have started using technology in new ways and in an ever-increasing number of areas of their lives. Because of the digital revolution inventions by 2020, more than half of the world’s population actively used the internet. Digital revolution example has a wide range from social media to online shopping, from web applications allowing remote working to on-demand entertainment services, etc. Digital revolution impact on these systems has largely reshaped the functioning of everyday life. These systems provide new ways of maximizing the effectiveness of shared resources and building reliable solutions for individual users. These systems have been designed to facilitate multiple aspects of our lives. Furthermore, now users can start to have an active role in creating technology. These developments have led to a huge amount of in the digital space and, in parallel, the ability to store it has also grown exponentially, leading today’s society to the middle of the information age. Digital technologies are fundamentally changing how people and businesses work together.

The Internet and home computers

In Digital revolution timeline digital computers have changed the way the world we live in. Digital revolution inventions are for human comfort. The tendency of humans has always been toward making life easier. The Industrial Revolution create a new era, with abundant mechanization. Manufacturing, transport, utilities, etc. Mechanization had taken over many of the tasks previously involved in human intervention. Among different industries, the textile industry was much demanding cheaper labour; this would accelerate the mechanization process. A similar advancement of the need had taken place in the early 1900s, in the field of computing and mathematical calculators. This paved way for the digital revolution impact. Today, information activities constitute a large, new economic part that represents the basis for the next stage in the digital revolution example with the emergence of new technologies. Just like the Industrial Revolution which was encouraged by necessities in manufacturing and commerce, the digital revolution inventions appeared by a need for new devices and new ways of communication. The pace of changes in technologies continues to blur the boundaries of the physical and digital worlds. It is redefining traditional industry sectors and the way we live and work. These emerging technologies, growing amounts of data and smarter ways of getting insights are changing the way people’s lives, and businesses and governments way of interact.

Next-Generation Technologies

Digital technology will form the backbone of next-generation technologies and digital revolution inventions. In the digital revolution timeline, as digital connectivity extends to transport systems, it can lead to more equitable, efficient, and safer mobility. This suggests opportunities for countries to reshape the way people, goods, and services travel. Digital revolution impact with new technology, and hyper-connectivity of devices, enables technology-led efficiency gains of transport systems and beyond. Positive global trends over the past decade include improvement in logistics performance and fuel economy, both of which contribute to reducing the aggregate cost of goods, as well as fossil fuel energy consumption. The biggest impact of the digital revolution on low- and middle-income countries, however, will likely be through new manufacturing process technologies that affect the production of traditional manufactured goods.

Hernaldo Turrillo

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The Shift In The Paradigm To Synthesise Data For A Data-Driven AI Industry

Hernaldo Turrillo — Tue, 05 Apr 2022 15:55:28 +0000

Synthetic Data For AI Evolution

Imagine that data could be shared seamlessly with partners, governments, and other organisations, without breaking any data protection law, to facilitate innovation. How will it be possible to use closely guarded customer data while still maintaining the highest privacy and safety standards? Is it possible to monetise data without compromising the sensitivity of the information (or data)? The following write-up spills it all.

The Shift In The Paradigm To Synthesise Data For A Data-Driven AI Industry

Data is the fuel for the rapidly progressing Artificial Intelligence (AI) industry -as it is for almost all other industries. Digitisation, interconnection of the network channels, and IoT generate mountainous volumes of data at an unimagined and unprecedented scale. IDC predicts that more than 175 zettabytes of data will be available by 2025, growing at an exponential rate. Thus, unbelievable data would be available, and accessible to all. However, there are still a huge number of AI innovations and projects that do not reach the stage of viability, owing to an insufficient amount of data.

The inaccessibility of authentic data for innovation and AI

Accurate data collection and processing is extremely straining in terms of expenses and time. While certain sectors like financial services, telecom, healthcare, internet companies, retail, etc, are in direct contact with the customer data, this access is restricted only to these touchpoints.

Then there is another category of data that is fragmented and siloed. Stringent regulations like GDPR watch over the sharing of data that can be processed only with user consent, strictly for lawful purposes. Data security measures are another reason that restricts data access over a larger scale. The data related to Research and Development requires regular hypothesis testing. This is, thus, another challenge pertaining to the presence of any real-time data from the field.

While AI projects require deep learning and innovation are constantly ravenous for large volumes of data, both structured and unstructured, to train models. Scarcity and huge expenses for labelled training data make it difficult to make it available for AI.

These challenges decelerate authentic data monetisation and realisation of benefits (from innovation and business). This is a major reason for many great projects to never even see the light of the day. While alternatives like data masking, anonymisation, and obfuscation ensure data security and privacy to abundant data, synthetic data is a preferred choice when data is scarce.

Synthesising data

Data generated as a result of using computer algorithms and simulations to the real-time data is synthetic data. Digitally synthesising data reflects the real-world either statistically or mathematically. Simply put, the data is generated by reproducing the statistical properties and patterns of the existing real-time datasets. This is done by modelling the probability distribution of these datasets and sampling them out. Essentially, the algorithm creates a new dataset with the same characteristics as the original data.

Although this synthesised data lead to the same answers, is it almost impossible that the original data can be ever reconstructed from either the algorithm or this synthesised data. Thus, synthetic data is almost as potent as the original data with equal predictive power. It further carries no baggage of privacy concerns or restricted usage of any kind.

Synthetic data is being increasingly employed for a wider range of applications. For instance, Syntegra is using its synthetic data generator to create and validate an anonymous replica of NIH’s database. This database has a record of more than 2.7 million individuals that have been screened for COVID-19 and more than 413,000 patients that have tested positive. This synthetic data set duplicates the real-time data quite precisely. Due to its anonymous nature, the data can be conveniently shared and used by researchers and medical professionals worldwide. A remarkable step to accelerate the progress in research for COVID-19 treatment and vaccines.

The AI team at Amazon uses synthetic data on Alexa for training its NLU system (National Language Understanding). Consequently, new versions of Alexa in three new languages have come out: Hindi, Brazilian Portuguese, and US Spanish. This invalidates any further use of large customer interaction data. Synthetic data is also being used by Waymo, a Google company, to train its autonomous vehicles. Synthetic data technology is extremely useful for American Express to enhance its fraud detection capabilities.

Synthetic data could, therefore, fill in the gaps that are hindering the evolution of AI technology. These are proving increasingly helpful in creating inexpensive, yet accurate, AI models. According to MIT Technology Review, Synthetic data for AI is among the top 10 breakthrough technologies in 2022. Analyst firm Gartner predicts: “By 2024, 60% of the data used to develop AI and analytics projects will be synthetically generated. The fact is you won’t be able to build high-quality, high-value AI models without synthetic data.”

Potential challenges

With compelling benefits, authentic and accurate synthetic data generation requires truly advanced knowledge and specialised skill sets. Further, the required sophisticated frameworks should be put up to enable its validation and alignment with the objective.

It is critical that the synthetic data generated does not relate to or expose the original data set in any way, while it should match the important patterns in the original. Failing would result in either overlooking potentially larger opportunities or generating inaccurate insights for any subsequent efforts to model the data.

For the AI models that have been trained on synthetic data generated by simply copying the original one, there is always a risk that inherent historical biases might creep in. Complex adjustments are, therefore, necessary for a fairer and more representative synthetic data set. Hard, yet achievable.

For the synthetic data generated that has been optimised on a predetermined abstract of fairness, the resulting dataset accurately reflects the original one while still maintaining inherent fairness. So, no bias mitigation strategies are needed, with no compromise on predictive accuracy.

The certainty of synthetic data in AI’s future

“There is a risk of false, early-stage perceptions surrounding the use of synthetic data in some circles. This is most likely due to the naming of the term itself, as anything ‘synthetic’ might naturally be thought of as plasticized, non-organic, or in some way fake. But, of course, there should be nothing more natural than machine learning tuition being driven by machine intelligence. Properly generated, managed, maintained, and secured, synthetic data’s level of bias handling, safety, privacy, and cadence represent a significant accelerator and enabler for the AI capabilities of tomorrow”, Nelson Petracek, CTO, TIBCO Software.

Already being used in healthcare (for training the machines to monitor a patient’s post-op recovery), security and surveillance (for detecting a suspicious object or behavioural pattern), and delivery drones, synthetic data is progressively making an accelerated advancement in its evolution.

Synthetic data, surely, is synthetic in origin, but it has real-world DNA to it. Its validation and application are unbelievably tangible, pragmatic, and multifarious. Nevertheless, it is, in fact, a reality we all exist in.

Hernaldo Turrillo

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Urban Digital Twins Set To Create The First Real-world Metaverse

Hernaldo Turrillo — Mon, 04 Apr 2022 14:25:18 +0000

A digital twin is the ‘link’ that has brought realism into the Metaverse and various experiences that are even beyond our imagination. It replicates our reality in the virtual world. From virtual fashion and eCommerce stores to boardroom meetings, operation theatres to maintenance workshops, and smart city infrastructures to energy-efficient buildings, digital twins are simulating our real spaces into virtual ones. What poses threat is the personal data leaks and other potential damages that may hinder the growth of this technology. Protection measures and security governance makes it possible to realise the future of a digitised version of physical space.

Urban Digital Twins Set To Create The First Real-world Metaverse

The world today stands at the conjecture between the real and digital world, ready to welcome the phenomenon called the Metaverse. It is through the blend of the two worlds that humanity is believed to progress to new meaningful heights. A digital twin is an initiative to realise this velocity and provide an entry point to this vast immersive world. This is a secure way to introduce a real-world space that is dimensionally precise into the virtual mirror world of the Metaverse.

IBM’s version of a digital twin is “a virtual representation of an object or system that spans its lifecycle, is updated from real-time data, and uses simulation, machine learning, and reasoning to help decision-making”. In other words, it is a virtual model that is designed in such a manner that reflects an object in the physical world. For instance, the data collected from a packaged food manufacturing unit by various sensors (that measure its performance through parameters like efficiency, input, output, etc.) is applied to create its digital copy (or twin). This virtual model operates in a simulated environment to generate valuable insights about its performance.

The digital twin solution on the Metaverse

Real-world is a complex cluster of spatial elements, coordinating with biotic and abiotic components in a dynamic way. A digital twin, thus, mirrors the real world with similar characteristics, processes, integration, and composition, thereby simulating its capabilities.

A digital twin in IoT seamlessly integrates with data analytics for a plethora of applications- maintenance prediction and fault detection, smart city technologies, intrusive surgery and diagnostics in medical and healthcare, traffic management, viability and efficiency of manufacturing processes, and fault analysis, to name just a few.

Stefano Corazza, head of augmented reality at Adobe says, “We have a very diverse pool of customers, and they are all trying to establish their standard workflow to get to high fidelity digital goods. The one thing they all have in common is the need for the creation of digital twins for all the goods that the brand is representing”.

A Metaverse version consists of multiple digital twins combined to form a composite digital twin technology.

The digital twin economy

According to a report by Grand View Research, the size of the digital twin market is anticipated to reach $86.09 billion by the year 2028. This growth is majorly driven by the use cases under Industrial Revolution 4.0 (4IR). The increasing demand for Industrial IoT solutions, asset health optimisation (and predictive maintenance), large-scale smart city infrastructure, and energy efficiency (and carbon-neutral economy).

For example, Smart cities, alone, are estimated to account for 2 billion sensors and connected infrastructure. This creates an extensive avenue for the development of digital twin technology, creating virtual cities over the Metaverse.

Urban Digital Twins Set To Create The First Real-world Metaverse

The privacy concerns with digital twins

Privacy concerns always surface where there is personal data in the picture. Behavioural assessments, the successful culmination of training programs, and 360 surveys are all examples where data has empowered digital twin technology. Maintaining transparency with scrutinised accessibility is the key to a healthier Metaverse with ‘twin’ versions.

Other threatening issues that need to be dealt with are- Intellectual Property theft (hacking of the digital twin blueprint), non-compliance of data, and disrupting the integrity of personal information. A digital twin is two-way communication between the physical and the digital world. This means that traditional methods of security are not enough to keep the systems and data safe. Protective measures for hardware and software need to be stepped up, that are customised based on the nature and scale of the application.

In addition, data governance (parameters and policies) ensures the range of privacy levels, strictly based on data management strategy. This dictates the responsibilities during the lifecycle of data- engineering, analytics, and computation. Governance processes like masking, differential privacy, encryption, redaction, and lifecycle management are the avenues to which privacy products can be effectively applied.

A holistic approach based on the needs of the digital twin technology and the principles of the business vertical is the key to securing trust and popularity for a better Metaverse experience.

Our Future with Digital Twins

Clearly, the world is witnessing a fundamental upgrade in the existing operating models. The asset-intensive industry is undergoing a digital reinvention that requires the integration of physical and digital systems- processes, equipment, and facilities. Digital twin technology has become a vital part of this realignment, playing a pivotal role in bringing the Metaverse to reality.

The devotion of exponential cognitive power to the digital twin technology is carving out its limitless future. With new skill sets and learning capabilities, the technology promises to evolve and generate better and more efficient processes.

“The difference that is taking place now, that hasn’t been there in the past, is that we have a platform that obeys the laws of physics and obeys true-to-reality submit scenarios, so it is not just an approximation, it’s not just a representation, but it’s actually something that is true to reality” Richard Kerris, Vice President of the Omniverse at NVIDIA.

Hernaldo Turrillo

The post Urban Digital Twins Set To Create The First Real-world Metaverse appeared first on OpenBusinessCouncil Directory.

Citiesabc Podcast: Metacurio CEO Jeff Hood Talks About Creating A Mutually Benefitting Ecosystem Over The Web 3.0 Space

Hernaldo Turrillo — Tue, 29 Mar 2022 15:43:20 +0000

Currently, as the CEO and CoFounder of MetaCurio, Jeff is working with global brands and talents who aim to enter the Web 3.0 space. With over two decades’ experience that has evolved from technology to blockchain consulting, Jeff has delivered some fine talents in the NFT and Web 3.0 world. His journey began as getting IP rights for big brands (like The Joe Frasier Estate, Albert Einstein, Charlie Chaplin, and The Wright Brothers). Jeff has successfully launched Mike Tyson, Reactor Motors, and the likes into the NFT space.

“Well, honestly, I really never thought I would be doing what I do today for a living, especially with global celebrities that I grew up watching as a kid. So, it’s kind of a crazy experience, a little surreal”.

Jeff started his career in software development in 1999, right at the beginning of Y2K and global outsourcing. For the next seventeen years, Jeff continued his journey into software, exploring various roles, and finally doing an IPO for GSS Infotech in India. Meanwhile, the changing paradigms in the market created a fascination for him towards the growing popularity of Bitcoin and (utility of) Smart Contracts by Ethereum.

Asked by Dinis Guarda in this latest episode of the citiesabc podcast, Jeff said that this became a turning point in his career and he started travelling to almost every corner of the world speaking about the practical applications of blockchain. He advocated the importance of tokenising projects and advised offerings during the next few years. Completely caught up in this entire world of cryptocurrency and leveraging tokens as another capital source for projects, Jeff transitioned to equity and venture capital. The skills acquired during that time leveraged his knowledge to understand the fragmented nature of the crypto markets and this prompted him to create a thriving space for content creators.

“I took a different approach than most of my peers. We didn’t invest in technology first, we invested in legal. This was because if you’re familiar with the entertainment industry, every piece of IP or every celebrity or talent has a circle of agents, managers, and lawyers that just circle around their whole ecosystem. So, knowing that, because I had dabbled in entertainment already, I knew that we would have to go through a huge amount of red lines and contract negotiations to acquire IP”, he recalls fondly.

After layering enough IPs with names like Mike Tyson, Dennis Rodman, Wesley Snipes, The Joe Frasier Estate, Odell Beckham Jr, Albert Einstein, Charlie Chaplin, The Wright Brothers, MetaCurio (under Jeff’s leadership), started launching NFTs over the concrete foundations at MetaCurio.

More Interviews

James Zhang, CEO The Concept Art House – Games, Art And NFTs

Adam Hollander, Serial Entrepreneur, Pack Leader at Hungry Wolves – NFT, Gamification

Interview with Rishi Kapoor, Founder & CEO of paus.tv – The Revolutionary Streaming Platform For Independent Creators

Interview Kireet Khurana, Filmmaker & Creator Of Animation Film “Toonpur Ka Superhero” – Homelessness In India: The “Invisible Visible”

Pedro Gadanho – Architecture, Arts, Cities & Society – Former MoMA & MAAT Curator, Architect

Susan Oh, Future of AI, Blockchain; Blockchain For Impact Global Summit @ UN HQ, Top 10 Frontier Women in Digital

Making MetaCurio a Heavyweight in the NFT and Web3 Space

MetaCurio is a full-service Web 3 strategy company that works with global brands and talents looking to enter the Web 3.0 space for profitable returns. Metacurio is a next-generation creative studio leading brands and talent into the Metaverse. With a vision to create long-term impact over the blockchain and build a true community, MetaCurio helps creators with various solutions like- NFT drops and digital asset development, and epic activations.

Under Jeff’s leadership, the company launched the ‘Mike Tyson Cory Van Lew collaboration’ in August 2021, taking a bold never-before artistic approach for the NFT collection of the celebrity boxer. Within its very first few minutes, the collection was sold out, profiting the company by a million dollars. What was more interesting was that it earned over $15 million in the secondary markets.

“I think it was the mix of the right time, right place. But I also feel like I had a very specific opinion and stuck to it. I think, sometimes, in business, you have to be willing to just do that. You know, having spent a decade in crypto and considering myself part of this community, I really focussed on bringing Mike into this space and kind of in the most organic and authentic way possible”, he explains.

Successful NFT launches and future plans

The impact these NFT sales and creations made on the community as a whole encouraged Jeff to carry on with them. Mike’s next drop- ‘The Laser eyes Derivative’ was sold out in mere twenty-three minutes of its launch, generating another million dollars. Metacurio is currently at the fourth NFT drop for Mike Tyson, a trading card game on Solana ‘Iron Pigeons’; and another one on Binance.

Other clients like Paradigm Sports, Reactor Motors (sold almost 9000 NFTs in the first four days of launch), Terry O’Neill (authentic band group), and Dennis Rodman. Some of the community acts also include a charity drop recently for Ukraine with artists Vladimir Klitschko and Wisby. Considering the nascent appearance of the company over the space (established in 2021), MetaCurio is currently at its tenth drop.

“Now that we’ve established some credibility and some case studies, we’re working to push Web 3.0 forward in the most authentic way possible to expand the community and to help bring brands and talent into the space in a way that doesn’t punish or hurt collectors. That’s my biggest fear”.

With the dream of creating a space that leverages its participants equally, Jeff and his team at Metacurio are dedicated to creating an integrated space developed with the power of smart contracts.

Motivating the young and micro-level creators, he says, “The future of creation in the Web 3.0 economy is the lower-level creators. It’s enabling the people with fewer followers on various platforms to be able to monetise their fanbase in a way that adds value to the total economy”.

About citiesabc.com
https://www.citiesabc.com/
https://twitter.com/citiesabc__

About openbusinesscouncil.org
https://www.openbusinesscouncil.org/

4IR: AI Blockchain Fintech IoT Reinventing a Nation by Dinis Guarda and Rais Hussin (4irbook.com)

Dinis Guarda citiesabc openbusinesscouncil Series is also available as podcast on

Apple Podcasts: https://podcasts.apple.com/us/podcast/dinis-guarda-citiesabc-openbusinesscouncil-series/id1510330391

On Spotify: https://open.spotify.com/show/1vA8KaDaRpJ0mAfpNbfTSF?si=H_WngL4RSOyu1W7VAmM41w&dl_branch=1

Google Podcasts: https://podcasts.google.com/feed/aHR0cHM6Ly9mZWVkcy5idXp6c3Byb3V0LmNvbS8xMDMyMzg4LnJzcw==

Amazon Music: https://music.amazon.com/podcasts/953a5156-823c-4e86-baeb-4fda1128e44c/DINIS-GUARDA-CITIESABC-OPENBUSINESSCOUNCIL-SERIES

Hernaldo Turrillo

The post Citiesabc Podcast: Metacurio CEO Jeff Hood Talks About Creating A Mutually Benefitting Ecosystem Over The Web 3.0 Space appeared first on OpenBusinessCouncil Directory.

Blueprint for Smart Cities : A Social Contract, A Research Publication by University of Durham and citiesabc

Hernaldo Turrillo — Mon, 28 Mar 2022 13:43:40 +0000

The “Blueprint for Smart Cities” lays out the foundation of a new social contract based on inclusivity, safety, resilience and sustainability in the cities of the future. The research was led by citiesabc indexdna and the University of Durham, in partnership with University of Surrey, Big Innovation Centre and World Smart Cities Forum.

Blueprint for Smart Cities: A Social Contract, A Research Publication by University of Durham and citiesabc

As cities continue to grow in both size and population, redefining human interaction along the way, a framework for human-centric smart city ecosystems has become critical. The urban population is expected to grow by around 7 billion by 2050 and, while this brings immense opportunities, it also creates huge challenges. In such a scenario, the need of the hour is to create inclusive, safe, resilient, and sustainable cities. Cities need to become smarter, bring all stakeholders together, and utilise the latest technological innovation.

Previous models for smart cities have suffered challenges, owing to the shifting dynamics of physical and cyberspaces. The “Blueprint for Smart Cities” redesigns the current model to provide a new social contract with humans at the core. It focuses on extensive coordination between policymakers, universities, industry, and citizens: the four agents that make up the Quadruple Helix Innovation model on which the analysis has been based.

The multilateral feedback systems that exist between these agents are crucial to consider if we are to meet the UN’s Sustainable Development Goals (SDGs). The Blueprint for Smart Cities is an approach based on the intersection of human and technological aspects of development.

“A smart city does not simply mean ‘smart + city’, but emphasises who is leading the city. This means developing a city by the people, for the people, where the goal is to create a human-centric ecosystem. ‘Blueprint for Smart Cities – A Social Contract’ with citiesabc indexdna provides a way of developing a human-centric ecosystem where physical and cyberspace systems are interconnected to bring about social, economic, political and environmental changes”, explains Her Royal Highness, Princess Katarina de Silva of Yugoslavia and Serbia.

citiesabc CEO Dinis Guarda presents his vision of a smart city with the people at its heart.

Compiled by citiesabc indexdna and the University of Durham in partnership with University of Surrey, Big Innovation Centre and World Smart Cities Forum and led by Professor Kiran Fernandes and Dr. Atanu Chaurhuri, the Blueprint for Smart Cities advocates a human-focused approach to building smart cities of the future.

The blueprint highlights the dynamics that exist in cities globally between the four agents at the outset of the Quadruple Helix Innovation model. It explores the multidirectional feedback systems that emanate from their respective decisions and understands the complexity of these constant adjustments and adaptations, proposing a framework for the holistic development of cities.

“We realised that smart city indexes operated within a static framework, making the results unreliable and in constant need of updates. Our approach is dynamic, identifying smart cities as human-centric and analysing the multidirectional feedback systems between the different pillars that make up a smart city. We are thrilled to have collaborated with the Centre for Innovation and Technology Management at the Durham University Business School, whose academic insights and deep research were crucial to creating this Blueprint for Smart Cities. In doing this, we hope to set a new standard for future smart city indexes and rankings”, said Dinis Guarda, founder citiesabc & openbusinesscouncil, author.

indexdna smart city concept

The report identifies a number of factors for consideration that are outlined as essential to the development of a human-centric smart city alongside technological advancements:

1. Innovation & Technology,

2. People & Human Resources,

3. Wellness, Health, Education & Liveability,

4. Financial Funding,

5. Leadership & Governance,

6. Business Professional ESR,

7. Circular Economy, and

8. Energy Net Neutrality.

According to Dr. Kiran Fernandes Professor at Durham University and co-author of the report, this blueprint serves as a “handbook for developing human-centric cities. The report is in direct sync with the UN’s Sustainable Development Goals and specifically promotes sustainable, inclusive and resilient economic growth. It ensures productive and decent employment for all. We aim to make our cities and human settlements inclusive, safe, resilient and sustainable on a global scale”.

“Blueprint For Smart Cities” is an initiative in continuation of the governments’ constant efforts for building smarter and more digitised cities worldwide. It is an enhancement of the global efforts to create sustainable, more habitable smart cities, and ready for the future.

Download the report here

Professor Kiran Fernandes addresses a distinguished audience, presenting the Executive Summary & Key Findings from the Smart Cities Blueprint.

About citiesabc indexdna

Citiesabc indexdna is the data analysis platform powering the dashboards for citiesabc. It is a digital transformation platform to empower, guide and index cities. citiesabc was formed by a team of global industry leaders, academics and experts creating new solutions, lists, rankings and connections for the world’s top cities and populations. citiesabc offers the best of innovation in 4ir, digital transformation, blockchain, AI, NFTs, smart cities technologies and big data.

Along with Durham University and strategic partners, citiesabc indexdna has produced the research “Blueprint for Smart Cities: A Social Contract” which highlights the dynamics that exist in cities globally between the four agents at the outset of the Quadruple Helix Innovation model and propose a framework for the holistic development of cities.

About Durham University

Durham is an international triple-accredited business school. Founded in 1965, we are one of the UK’s longest established business schools and are proud to be integral to Durham University.

Sharing insights, supporting innovation and teaching tomorrow’s leaders. We believe that to succeed in business, you need to get closer to the realities of business – so that’s what we do. We combine our academic excellence, insightful research and exceptional global business connections, to equip our students and alumni to become innovative business thinkers of the future and influential individuals in and beyond their careers.

A globally outstanding centre of teaching and research excellence, a collegiate community of extraordinary people, and a unique and historic setting – Durham is a university like no other.

Hernaldo Turrillo

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A Seamless And Smoother Future Of Humanitarian Efforts With Redesigned AI

Hernaldo Turrillo — Wed, 23 Mar 2022 17:51:51 +0000

Redesigning AI: Improvising With The Dynamics Of Humanitarian Innovation

The constantly shifting paradigms of humanitarian actions, owing to the increased complexity and range of needs, has resulted in a steep demand for innovation in the area. Technological advancements, like Big Data analytics and AI, have proved effective and efficient for humanitarian applications to date. However, like any other innovation, it has also introduced new challenges and risks, making the end-user vulnerable to its repercussions. Redesigning AI seems to be the most plausible solution to accommodate the dynamics of various parameters within the sector.

A Seamless And Smoother Future Of Humanitarian Efforts With Redesigned AI

The world has been in constant strife to meet people’s demands while improving the efficiency in the humanitarian sector since the very beginning. Improvements and innovations in technology have led to the augmented use of artificial intelligence (AI) systems since the past few decades to satiate this hunger. However, the application has always been debated and ignited controversy, owing to its ethical and human rights-related implications.

“The instrumental conception of technology conditions every attempt to bring man into the right relation to technology. Everything depends on our manipulating technology in the proper manner as a means. We will, as we say, “get” technology “spiritually in hand.” We will master it. The will to mastery becomes all the more urgent the more technology threatens to slip from human control. But suppose now that technology was no mere means, how would it stand with the will to master it?”

Heidegger, Martin. “The question concerning technology (W. Lovitt, Trans.) The question concerning technology: and other essays (pp. 3-35).” (Heidegger 1977).

In 2013, the United Nations Office for the Coordination of Humanitarian Affairs officially proposed the recognition of information during crises as a basic humanitarian need. This led to a series of digital transformation and innovation initiatives in the humanitarian sector.

Various AI applications like chatbots, biometrics, satellite imaging, and Big Data analysis became an essential and inevitable part of the wider phenomenon. Critical algorithms were developed to focus primarily on assisting human intelligence for betterment. However, the phenomenon drew greater power asymmetries with time. What began as the “AI for social good” movement gradually started turning to “unethical innovation”.

Chatbots, for instance, has been around for quite a few years now, becoming a prevalent part of our digital culture now. Even though these bots don’t intend to take over the world (like in Transformers or Matrix) or destroy humanity just yet, there have been instances of less-than-professional behaviour shown by them in the past. Microsoft’s Teenage chatbot Tay and its successor Zo, and Nabla (a text generator at the Parisian healthcare facility) are just a few examples of AI going wrong.

Chatbots (and other AI) are based on simple algorithms and are programmed manually. Their actions are explicitly based on the mappings chalked out by the creators. Natural language, on the other hand, is a complex thing with slang, misspellings, humour, and intonations. How can it be expected that interactions involving sarcasm and intonations (that are sometimes even beyond human comprehension) could be interpreted appropriately by a machine? The latest advancements based on humanitarian innovation are the prime focus area for researchers.

Redesigning AI for Humanitarian Innovation

Though there is no specific definition of humanitarian innovation, according to HIF-ALNAP (by Obrecht and Warner, 2016)

“Humanitarian innovation is an iterative process that identifies, adjusts, and diffuses ideas for improving humanitarian action”.

This leads to consolidated learning, bringing a measurable and relative improvement in the effectiveness, efficiency, and quality of the innovative approaches over the conventional ones. Further, it also improves the scale of adoption to improve humanitarian performance. In the end, this all leads to more exploration and research.

Currently, organisations that are involved in humanitarian endeavours collect, store, and share huge amounts of personal information. Challenges, however, arise when this data is mistreated or misused. There are a variety of guidelines for the promotion of ethical and fair use of AI across different sectors. These recommend the designing, development, and deployment of the latest innovation and technology.

Further, AI reduces communication to its barest instrumental forms. This widens the gap between the humanitarian efforts and the society itself. The disconnects compound further when data experiments with untested technology. This actually degrades the value of data. In other words, it is the reproduction of the colonial powers of AI.

Sensitive data, especially from the vulnerable demographics (such as the Internationally Displaced Persons, refugees, mental health patients, and senior citizens), needs to be handled in a sophisticated manner to ensure its privacy and security. AI redesign, therefore, is aimed to broaden and deepen the interdisciplinary efforts to enhance the innovation on humanitarian assistance.

Redefining the Future of Humanity

Though AI is paced to make huge advances to revolutionise medicine, transport, employment, and markets, it is ready to take a leap and reshape the fabric of society (and its citizens). On the other hand, its perils, owing to increased automation and misinformation, are threatening the very society with bias and surveillance.

“Whenever I hear people saying AI is going to hurt people in the future I think, yeah, technology can generally always be used for good and bad and you need to be careful about how you build it … if you’re arguing against AI then you’re arguing against safer cars that aren’t going to have accidents, and you’re arguing against being able to better diagnose people when they’re sick” —Mark Zuckerberg

Redirecting (and arguably redesigning) AI is one step closer to a smoother and seamless work, democracy, and justice for humanitarian efforts in society. However, the question remains- how. Time will reply that soon.

Hernaldo Turrillo

The post A Seamless And Smoother Future Of Humanitarian Efforts With Redesigned AI appeared first on OpenBusinessCouncil Directory.

Tips To Invest Into The Metaverse

Hernaldo Turrillo — Mon, 07 Mar 2022 08:24:20 +0000

Tips To Invest Into The Metaverse

The Metaverse is here and investors of all shapes and sizes are trying to get on the investing bandwagon. Some are playing millions of dollars for virtual land. One user recently paid $450,000 to be Snoop Dogg’s neighbour in a virtual world called the Sandbox. However, even more traditional, value investors, such as Warren Buffet, are starting to see the value of Metaverse stocks. So what should any investor know before stepping into the Metaverse investing arena? And is it a safe way of making money? Here are some tips to invest into the Metaverse .

Tips To Invest Into The Metaverse

What is the Metaverse?

The tech and business world, as well as smart city builders, are preparing for a Metaverse-based future. The Metaverse is the sum of all the processes and protocols empowering the digital transformation of our lives, the internet systems, and the emerging blockchain empowered with AI Web3.

It transforms our common experience as a society and opens the door to the new digital transformation. It will transform our present and the virtual world so as to our digital twins (avatars) are able to connect through virtual cities, work environments, buildings, travel, and entertainment. Today, however, the project is only at the beginning stages of its existence. There is a number of companies, including Meta (Facebook), that are trying to win the race of creating immersive virtual experiences.

Top investment opportunities

NFTs: NFTs are becoming the DNA certification for our society; they are the central pillars of Metaverse and are pivotal in building the digital twin of our society. Art, fashion, collectives, history, cities, property, and tourism experiences – all benefit and grow in terms of experiences with the expansion of Metaverse.

If Metaverse is the door to the unique space of experiences, NFTs are the keys to that door. To explore this vast span of exciting and exclusive events, these keys are inevitably necessary.

After the success of Beeple’s NFT art, no one can say that investing in NFTs is worthless. It is still highly speculative, however, so invest with caution, and only in the projects with real, long-term vision.

Nvidia: Last year, Nvidia CEO Jensen Huang said, “Omniverse or the Metaverse is going to be a new economy that is larger than our current economy.” Nvidia is uniquely positioned to become the next big thing in this area. Its sophisticated ray-tracing capabilities allow for the simulation of light and physics to render graphics, making the virtual world more complex and believable. Therefore, the company seems like a good investment opportunity in the current environment.

Meta: After the announcement of Facebook’s rebranding to Meta, its stock has become the original Metaverse stock. As the CEO, Mark Zuckerberg said in a recent interview:

“And my hope, if we do this well, I think over the next five years or so, in this next chapter of our company, I think we will effectively transition from people seeing us as primarily being a social media company to being a metaverse company. And obviously, all of the work that we’re doing across the apps that people use today contribute directly to this vision in terms of building community and creators”.

Although the Facebook stock has already risen in price significantly over the past year, its growth potential in the new metaverse-based future is still large.

Unity: Unity is a smaller-scale company, but with a great vision, and a fast growth potential, which was recently reflected in its price. Unity is trying to become a one-stop shop for all things 3D content (VR and AR). By empowering creators with its tools, it is betting on capturing most of the market share.

Decentraland: Decentraland is a 3D virtual world browser-based platform, allowing users to buy virtual plots of land through their MANA tokens. It was opened to the public in February 2020 and is overseen by the nonprofit Decentraland Foundation. Even JPMorgan, the big US investment bank, recently entered the Metaverse by buying a virtual lounge in Decentraland.

“When you think about the economics of the metaverse — or metanomics — there are opportunities in almost every market area.” the bank wrote. “We are not here to suggest the metaverse, as we know it today, will take over all human interactions, but rather, to explore the many exciting opportunities it presents for consumers and brands alike.”

Real estate:

Real estate in the metaverse is still quite a niche market. As Janine Yorio, the CEO of a virtual land platform Republic Realm tells CNBC:

“Buying virtual land is pretty simple — either directly from the platform or through a developer. Investors build on their land and make it interactive.” but:

″[It’s] highly, highly risky. You should only invest capital that you’re prepared to lose. It’s highly speculative. It’s also blockchain-based. And as we all know, crypto is highly volatile. But it can also be massively rewarding.”

It is still very speculative at this stage but may prove rewarding. High risk, high reward. Only invest the amount that you are prepared to lose if things go sideways.

Hernaldo Turrillo

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