Aurelia Butler

More stories

  • 175 Shares159 Views

    in Cryptocurrency

    Big Tech Metaverses: All You Need to Know about Meta, Microsoft, Google, And Apple

    The market size for Metaverse is expected to be $800 billion by 2024. Big tech is entering the race to create the Metaverse and secure its share of this vast future market.Let’s dive more profound into the metaverse projects developed by the tech behemoths, and discuss the company’s strategy in creating Metaverse and its’ possible future.Microsoft (NASDAQ:MSFT) MetaverseThe metaverse platform, developed by Microsoft, is called Microsoft Mesh. Microsoft chose to focus on creating a work environment in the Metaverse.Microsoft is integrating Mesh with Microsoft Teams as a first step towards creating the Metaverse. The integration will open doors to more immersive experiences in the workplace. People in different physical locations can send chats, join hybrid and virtual meetings, or collaborate on shared documents.According to Microsoft, an immersive space within a team’s channel could help strengthen workplace collaboration. For example, a product design team might create an immersive space for its daily standup meeting, with whiteboard and product prototypes displayed on a table.Regarding the hardware, Microsoft is developing its own mixed reality headset, HoloLens 2. The product originated as a headset for Microsoft’s Xbox gaming console. However, the company is not trying to lock the market share by tying Metaverse to its hardware. The Mesh will be accessible by using any VR headset, mobile phone, tablet, or PC, by using the Mesh-enabled app.Microsoft chose a strategy to build Metaverse as an extension of their current application ecosystem. The company already has a strong portfolio of applications that could become building blocks for the future Metaverse.Worth to mention a couple of the company’s applications and technology, which will be especially important for the future development of the Metaverse. The first one is Dynamics 365 Connected Spaces. This application delivers real-time actionable recommendations by utilizing video camera data and AI to help retail store owners analyze and improve the shopping experience.The second one is Azure Digital Twins. It is an Internet of Things (IoT) platform that enables companies to model digital copies of real-world environments and business processes to gain insights and optimize operations and costs.The technology that underlies both of these applications enables the creation of immersive experiences and, once integrated into Metaverse, could give Microsoft a huge push.That is not the only Microsoft milestone in the creation of Metaverse. Microsoft staked its place early in the virtual economy. While games could be considered an entry point to the Metaverse and its immersive experience, Microsoft’s investment in the gaming industry can bring the company a competitive advantage in the development of the Metaverse.By acquiring game studios, Microsoft gained access to thriving gamers communities and prominent game franchises. Back in 2014, the company bought the Minecraft game for $2.5 billion. In 2020, Microsoft bought gaming company ZeniMax Media for $7.5 billion. It is hard to tell how much so far Microsoft invested into the creation of Metaverse. One of the biggest investment into the Metaverse could be considered the historical acquisition deal of Activision Blizzard (NASDAQ:ATVI). Microsoft acquired the game studio for $68.7 billion. This gave the company access to 390 million monthly users and existing game titles, including such legendary games as Call Of Duty.How far has Microsoft gone in creating the Metaverse? The company announced working on the Metaverse back in 2021. At the time of writing, Microsoft Mesh is available in a limited free preview, where the companies can try the Mesh app using HoloLens 2.Meta MetaverseMeta’s Metaverse prototype is called Horizon Worlds. It is a virtual reality, an online video game with an integrated game creation system. Metaverse users can contribute by creating their world on the platform. Meta is also planning to introduce Horizon Workrooms for professionals and companies. It will include VR spaces for collaborative work and virtual meetings.The platform has some drawbacks. It is not immune to harmful content, which has been an issue for Horizon Worlds from the beginning. Also, clumsy aesthetics and frequently ill-designed controls. Another considerable issue is centralization. Even though Meta encourages the platform’s co-creation, it still stands in the power of the development tools.Meta has its own native metaverse hardware – Oculus. Horizon Worlds can be accessed using the Oculus Quest headset. Facebook (NASDAQ:META) acquired Oculus for $2 billion in 2014. Oculus Quest 2 headset was the best-selling VR headset of 2021, shipping more than 8.7 million units, which gives Meta an advantage in the race for Metaverse.Another significant advantage of Meta is its immense use base across its various social media platforms. Meta is taking a bottom-up strategy to create Metaverse. The company is bringing all customers into a metaverse that can grow into a place for both play and work.The focus shift from a social media platform to the Metaverse is depicted in companies rebranding from Facebook to Meta. The name change comes after the company declared its intention to employ 10,000 employees in the EU to build the “Metaverse.”Meta’s metaverse concept is more closely aligned with the sci-fi future, in which people spend a significant amount of their lives immersed in colorful virtual realities.So far, Meta has invested $10.2 billion in its Reality Labs business. However, the company lost $2.81 billion on $452 million in revenue in Q2.How is Meta doing with the Metaverse development? Facebook announced opening up Horizon Worlds in December 2021. In February 2022 company stated that Horizon Worlds and Horizon Venues had a total monthly userbase of 300,000 people, that users had built 10,000 worlds within Horizon Worlds, and that its private Facebook group for creators had over 20,000 members. That shows rapid growth, but it is still far away from its competitors, such as Roblox.Apple (NASDAQ:AAPL)While other big tech companies are introducing their metaverse concepts, Apple stayed quiet for a while. However, there are some signs that Apple is also working on creating its own virtual reality world. And for decades.Apple’s strategy always was to keep their products low profile until they reached the final development stage. So the company can be full of surprises for the metaverse market.An important sign of the company’s progress in creating Metaverse is registered patterns involving AR/VR technologies, starting in 2008. Another one – is key acquisitions. Apple acquired PrimeSense, which provided 3D sensing technology. Also, the companies working on face tracking, like PolarRose. In 2017, the company bought augmented reality startup Vrvana, also Akonia Holographics – a company focusing on making lenses for AR glasses.One of Apple’s serious advantages is the market share of smartphones. Globally, 20 % (900 million) of people hold iPhones. Among the young adults, these numbers are even bigger. For example, in the US, Apple keeps 70% of the market share among the young.The new iPhones are coming with a piece of hardware, making them more powerful, and new sensors enable a better augmented reality experience. This shows the company’s focus on augmented reality and creating a potential user base for future Metaverse.Google (NASDAQ:GOOGL)Google dealt with a failure of Google smart glasses back in 2014. This was the company’s first step into more immersive internet experiences. It is likely that the glasses were introduced ahead of time, the price was too high, or the company just failed to determine its utility of it. Despite that, tech behemoth is back to the competition for digital worlds. Google’s AR headsets, internally codenamed “Project Iris”, are expected to be released in 2024. Its product should be more immersive than currently on the market available AR glasses. On top of that, Google invested $39.8 million in a private equity fund for metaverse projects. The technology combines computer visuals with a video feed of the real environment using outward-facing cameras. According to the Verge, Google keeps the project secret, requiring “special keycard access” and “non-disclosure agreements.” One of Google’s most significant advantages is its vast user base. Google has secured 70% of the search market share. Creating a more immersive browsing experience seems natural. Another advantage is Google Maps. Decades of work pay off, as Street View imagery has been gathered in more than 100 countries and territories. It ranges from places such as Grand Canyon National Park to the Great Barrier Reef. Google can really make a push building Metaverse based on Maps. Google Maps Experiences vice-president Miriam Daniel said in a post that the company is introducing an “immersive view” that would combine Street View images with AI to create a detailed digital model of the world. Continue reading on DailyCoin More

  • 75 Shares169 Views

    in Cryptocurrency

    What is decentralized identity in blockchain?

    Though the decentralized identity technology is fairly new, initiatives and players in the decentralized identity space, software for implementing decentralized identity wallets and supporting services are plentiful. They range from the Hyperledger open-source developing community, through a range of decentralized identity protocols and startups, to some of the biggest names in the industry.Continue Reading on Coin Telegraph More

  • 138 Shares169 Views

    in Cryptocurrency

    Elon Musk-crypto video played on S. Korean govt's hacked YouTube channel

    On Sept 3, the South Korean government’s YouTube channel was momentarily hacked and renamed for sharing live broadcasts of crypto-related videos. However, the account was soon restored within four hours following a proactive intervention, confirmed a local report from Yonhap News Agency (YNA).Continue Reading on Coin Telegraph More

  • 125 Shares179 Views

    in Economy

    Liz Truss promises economic action from Day 1 of premiership

    Liz Truss, widely expected to be named Britain’s prime minister on Monday, has promised to tackle the cost of living crisis in her first week in Number 10, as she looks to accelerate long-term reforms to the electricity market.Truss, the foreign secretary, said she would immediately set out “action on energy bills and energy supply” while her new chancellor — expected to be Kwasi Kwarteng — would flesh out details in a mini-Budget later this month.The results of the seven-week contest to find a new Conservative leader will be announced at lunchtime on Monday, with Truss expected to beat her rival, former chancellor Rishi Sunak.Boris Johnson will make a farewell statement in Downing Street on Tuesday morning before flying to Balmoral, the Queen’s Highland residence, to tender his resignation.The new Tory leader will then also travel to Balmoral before returning to Downing Street on Tuesday afternoon to face one of the most daunting in-trays of any incoming prime minister.Truss, writing in the Sunday Telegraph, repeated her promise of tax cuts for business and households but also said: “I will take decisive action to ensure families and businesses can get through this winter and the next.”Sunak’s team claims that a combination of short-term palliative measures coupled with Truss’s promises to reverse increases in national insurance and corporation tax, and with her pledge for higher defence spending could cost more than £100bn.Truss said her approach would be “underpinned by a firm grip on the public finances and commitment to the principles of sound money and a lean state”.Treasury insiders are worried about the impact of new borrowing at a time of rising interest rates and market jitters about the British economy, but Truss has dismissed “stale thinking” in the UK economic establishment.She said she would appoint a council of economic advisers that would bring together “a team of world-class economists so my chancellor and I have the best ideas and latest research on how to get the economy moving”.

    Truss also said she wanted to move away from an approach of “sticking plasters and kicking the can down the road” and her allies have talked about reforms to the energy market to lessen the impact on future crises.Kwarteng, current business secretary, wants to speed up reforms to the wholesale electricity market to break the link with volatile gas prices. The current system means that even those producing power from nuclear or renewables can receive high wholesale prices for electricity because of high market prices for gas.Sunak had proposed a temporary windfall tax on electricity generators that would raise £3bn-£4bn a year until the market is fixed, but Truss has ruled out extending the existing levy, which applies only to North Sea oil and gas producers. More

  • 150 Shares189 Views

    in Economy

    Japan PM says govt panel on inflation and wages to meet Friday

    Speaking to reporters in northern Japan’s Niigata prefecture, Kishida said the government should consider reviewing and raising subsidies for regional revitalisation so they can be used to respond effectively to surging prices.”I would like to compile additional measures and implement them without hesitation,” he said, adding that he recognised the importance of offering support that matches the needs of local communities.Kishida has made a top priority of addressing the impact of rising energy, food and raw materials prices on businesses and consumers, instructing his government last month to draw up new policy measures. More

  • 100 Shares159 Views

    in Economy

    Will the ECB deliver a historic rate rise?

    Will the European Central Bank deliver a historic rate rise?Even before last week’s data showing eurozone inflation hit a record high and unemployment fell to a new low, markets were already betting the European Central Bank would step up the pace of interest rate rises when it meets on Thursday.The ECB raised rates in July for the first time in more than a decade, lifting its benchmark deposit rate from minus 0.5 per cent to zero. But in the past week, a string of ECB governing council members have called for it to act “forcibly” by “front-loading” the path of future rate rises to prevent surging inflation from becoming a 1970s-style spiral of persistently higher wages and prices.Investors have taken note, driving bond yields up to bet on a strong probability of the ECB raising rates by 0.75 per cent for only the second time in its history. The first was a shortlived technical adjustment only days after the euro’s launch in 1999.“The key decision at the upcoming meeting will be between a 50 basis point or 75 basis point hike,” Jens Eisenschmidt, an economist at Morgan Stanley, wrote in a note to clients. “We think it is a very close call, with good arguments on each side, but ultimately think those advocating for a larger hike will prevail as September offers the best opportunity to send a clear signal of determination.”The ECB could also announce measures to reduce a multibillion bonanza it is set to give to banks from its ultra-cheap lending scheme known as the targeted longer term refinancing operations, or TLTRO, he said. But other moves, such as starting to shrink its balance sheet, are likely to wait until its meetings in October or December. Martin ArnoldDid growth in US services activity slow last month?Activity in the US services sector is expected to have slowed in August to the lowest reading since May 2020, as economic growth decelerates amid aggressive rate increases implemented by the Federal Reserve to tackle persistently high inflation.The ISM non-manufacturing index is forecast to report a reading of 54.8 from 56.7 in July, according to economists polled by Reuters. Although any reading above 50 indicates an expansion, growth in the services sector is expected to slow, after recovering from a drop in activity from lockdowns at the start of the pandemic. Oren Klachkin, lead US economist at Oxford Economics, said the best days of the services industry’s recovery are “behind us”. “The post-Covid pop in activity is behind us,” said Klachkin. “Economic growth was bound to slow eventually. More normal spending patterns mean growth will slow.”In an effort to tame soaring inflation, the Federal Reserve implemented two consecutive rate increases of 0.75 percentage points to cool down the economy. US inflation moderated in July, but consumer spending slowed more than expected, rising 0.1 per cent and missing expectations for a 0.4 per cent increase, according to the personal consumption expenditures price index.Although some aspects of the services industry like supply chain conditions have improved, labour costs, prices and inventories have yet to rebound to pre-pandemic conditions.“Better inflation and supply chain conditions should result in some release of pent-up demand, all else equal. However, price and supply-side dynamics remained far from pre-Covid norms,” said Klachkin. Alexandra WhiteDid China’s exports growth wane in August?China’s exports have been a rare bright spot for the economy, which has been battered by Covid-19 lockdowns. The country’s surplus in July confounded experts, jumping to a record of more than $101bn, boosted by a bigger-than-expected 18 per cent increase in exports.Imports missed expectations, however, rising just 2.3 per cent compared with the same period a year before, suggesting sustained weakness in domestic demand in the country.The economy took a further hit in August as heatwaves and droughts led to power shortages and led several provinces and cities to suspend or restrict electricity supplies to factories. There were further hints that the country’s export growth would slow in August in the latest manufacturing purchasing managers’ index, which notched a second consecutive month in contraction territory. The new export orders sub-index came in at 48.1, below the 50-point threshold that separates contraction from expansion for the 16th month in a row.“The robust export growth seen over the past two years is really behind us and set to decelerate over the next few quarters, as major developed economies enter recessions amid a more synchronised global slowdown,” wrote analysts at Nomura, the Japanese bank.Analysts at Barclays, meanwhile, forecast that China will post a smaller trade surplus of $91bn for the month, with imports growth increasing to 4 per cent and exports growth slowing to 14 per cent.“We expect . . . import growth to remain in low-single digits in August in view of weaker domestic demand . . . led by contracting property investment and subdued consumption,” the bank’s analysts wrote in a note. William Langley More

  • 125 Shares99 Views

    in Cryptocurrency

    Repurposing Bitcoin mining heat can solve global energy crisis: Arcane

    One of the biggest concerns authorities raise when it comes to Bitcoin’s mainstream adoption is its energy requirements. While innovations in chipset manufacturing have helped reduce operational costs related to Bitcoin mining, a report from Arcane reveals the market’s potential to transform the energy industry. Continue Reading on Coin Telegraph More