Utpal Chakraborty – CDO at Allied Digital shares his insights on a blog – “Behind the Scenes of Web3 and Metaverse.” He is one of the leading AI and Quantum Scientists in India.
Behind the Scenes of Web3 and Metaverse
Author - Utpal Chakraborty, Chief Digital Officer, Allied Digital Services Ltd.,
AI & Quantum Scientist
One of the core philosophies driving Web3 is decentralization, unlike Web2 that works in a centralized fashion. To achieve decentralization and make it a reality, we need the help of different technologies, tools, and packages.
It is also important to understand the differences between Web 3.0 and Metaverse, the technology trend that would shape up the internet of the future. According to some experts, Metaverse is the real implementation of Web3. I have a different opinion – It’s true that Web 3.0 and related technologies can be seen as the building blocks of the Metaverse, but Metaverse is not the ultimate face of Web3. Web3 applications are going to be versatile and Metaverse is just one such implementation. I feel, we have not yet seen Web3 in its actual shape and form, and time will only tell what shape & form web3 implementation is going to take. More broadly, the term Metaverse is used to refer to all online spaces that seek to create engaging environments that manifest a new open virtual world; while Web 3.0 technologies focuses on making the web decentralized, smarter, and more accessible. Whatever may be the case but it’s going to be very interesting in future.
Coming to technologies behind web3 - although 3D design along with AR/VR are central while it comes building an immersive environment in the Web3 and gaming platforms like Unity or Unreal are essential for making the environment interactive, but role of technologies like AI and Blockchain cannot be undermined. While 3D gaming platforms will provide the 3D experience, AI can make it an intelligent and provide personalized experience while navigating through the environment. Blockchain can make the transactions decentralized and can bring transparency and security into the entire ecosystem.
Let’s first try to understand what Blockchain means in the context of virtual worlds and Web3. Blockchain is an integral part of the web3 & metaverse, as the technology allows users and enterprises to protect their digital assets in a virtual environment.
Blockchain allows the metaverse to fully emerge in the digital space, where users can gain greater autonomy and trust within a shared virtual landscape. Blockchain can provide the necessary features required in the metaverse and in a Web3 ecosystem, such as interoperability, security, ownership, and decentralization. Blockchain can even provide interoperability between different spaces in the metaverse. It can provide the backbone of the metaverse with compatible NFT (Non-Fungible Token) resources that can be used for transactions. The bottom line is that in order to support and implement a fully transactional metaverse, blockchain and it’s Smart Contracts will have to play a significant role in its implementation.
Blockchain offers digital proof of ownership of assets in the metaverse. The predominant use cases for Blockchain as NFTs are essential for value transfer and digital asset trading in the world of the metaverse. For example, blockchain technology is needed to regulate many areas of the decentralized Metaverse, such as digital asset collections (NFTs), digital proof of ownership, immutable record of data, exchange of value through cryptocurrencies, interoperability.
AI will provide critical support to the metaverse by making it easier for people to access digital environments and assisting in content creation and interaction between humans and virtual worlds. AI will also be used to scan and process the massive amounts of data generated every second by user activity in the Metaverse in real-time. AI will also help recreate true touch in virtual reality and could use AI in voice navigation, so users can interact with virtual objects without using hand controllers.
In fact, AI & ML has many use cases - AI for content analysis, speech processing, computer vision, hyper-personalization just to name a few. Since Metaverse & Web3 will allow people all over the world to interact, AI will allow users to freely connect using AI for language processing. In an ideal world, linguistic AI would capture the nuance and empathy needed to accurately represent humans, making the virtual world a place where people and technology thrive together. There is no doubt that artificial intelligence will play a huge role in the virtual world, especially when we communicate with others through Avatars.