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Applications of Blockchain Technology to Emerging Educational Scenario: International Context and Indian Potentialities
Published in Rajdeep Chakraborty, Anupam Ghosh, Valentina Emilia Bălaş, Ahmed A Elngar, Blockchain, 2023
Blockchain technology is useful in diverse areas and sectors and among these few important areas are financial services, health care, government, travel and hospitality, retail, etc. Blockchain technology is applicable in diverse areas due to its role and uses:In secure and proper sharing of medical and health dataIn the areas of NFT marketplacesRegarding the music royalties trackingIn the areas of cross-border paymentsIn proper and real-time IoT operating systemsIn enhancement of the personal identity securityIn regard to the anti-money laundering tracking systemIn proper and sophisticated supply chain and logistics monitoringIn proper logistics monitoringRegarding the voting mechanismIn advertising and allied areasRegarding original content and information creationRegarding cryptocurrency exchangeIn real estate processing platform and systems [24,25]
Mining Metaverse – a future collaborative tool for best practice mining
Published in Mining Technology, 2023
Illuvium is backed by Blockchain and provides complete ownership of in-game assets. Every successful Illuvial capture, farmed material, or crafted item is a non-fungible token (NFT) minted and stored in a crypto wallet. Each NFT is verifiable on the Ethereum blockchain, proving digital asset ownership. Having custody of digital assets provides the power to collect and trade NFTs in the Illuvium marketplace.
Shaping the Metaverse into Reality: A Holistic Multidisciplinary Understanding of Opportunities, Challenges, and Avenues for Future Investigation
Published in Journal of Computer Information Systems, 2023
Alex Koohang, Jeretta Horn Nord, Keng-Boon Ooi, Garry Wei-Han Tan, Mostafa Al-Emran, Eugene Cheng-Xi Aw, Abdullah Mohammed Baabdullah, Dimitrios Buhalis, Tat-Huei Cham, Charles Dennis, Vincent Dutot, Yogesh K. Dwivedi, Laurie Hughes, Emmanuel Mogaji, Neeraj Pandey, Ian Phau, Ramakrishnan Raman, Anshuman Sharma, Marianna Sigala, Akiko Ueno, Lai-Wan Wong
The metaverse is an immersive virtual world that deploys various technologies, including virtual reality (VR), augmented reality (AR), and Blockchain.103 According to Lee18, the metaverse is a virtual artificial community in which avatars represent the users’ alter ego and enable interpersonal interactions. Yuan & Yang104 contextualized the metaverse as a mechanism and logic of a new digital economy. Its development is still in the nascent stages, but there has been increasing interest in capital inflow in this online sphere, which will spur economic activity (Katterbauer et al.). Economic activity in the metaverse arises from creating interactive, immersive, and collaborative virtual 3D environments. These virtual environments are interconnected to allow connections in games, commercial transactions, and real estate.105 The metaverse encompasses a new user experience and new internet interaction modes that will enable users to own digital identities and valuable items such as non-fungible tokens (NFTs) and digital currencies. NFTs create digital scarcity that enables the banks to secure, insure and loan against NFTs similarly to physical assets. The metaverse is anchored on Web 3.0 advocates focusing on NFTs, cryptocurrencies, distributed autonomous organizations (DAOs), and decentralized finance (DeFi). NFTs makes it possible to uniquely identify digital assets and make them available for trading. DAOs constitute a potential model governing the metaverse, and tokens will be met based on payment, proof of work, or other systems. Banking services are possible in the metaverse since the metaverse economy constitutes a new digital economy built on the emergence of digital currencies alongside production and business models anchored in digital assets (Yuan & Yang, 2022). Therefore, the banks will play a vital role in financial information and transaction management as essential parts of the metaverse enabling individuals and entities to transact and operate within the virtual 3D environments (Katterbauer et al.). The growing significance of the metaverse has influenced the financial services industry to find new ways to create value within these virtual spaces and deliver financial services through fintech solutions.106 Financial management and enabling transactions are critical components in the metaverse because they will constitute a virtual version of daily life where individuals can work, earn salaries, and spend their earnings on assets.107