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Thursday, February 10, 2022

g-f(2)921 THE NEW WORLD (2/10/2022), PwC, Demystifying the metaverse




ULTRA-condensed knowledge


"g-f" fishing of golden knowledge (GK) of the fabulous treasure of the digital age, The New World, Metaverse (2/10/2022)  g-f(2)426 


Opportunity, PwC  

EXCEPTIONAL “Full Pack Golden Knowledge Container”



6 ways to start preparing for the metaverse era



Golden knowledge (GK) Juice



  • Since no true metaverse exists yet, but many of its concepts are already business-relevant, many companies would benefit from taking six measured actions. The first three focus on opportunities and use cases available today. The next three will help build the capabilities that will help support metaverse success tomorrow.
    • Near-term actions
      • 1. Get up to speed. Most companies — even many technology companies — lack institutional familiarity with the metaverse’s concepts, which are evolving quickly.
      • 2. Develop a strategy. Identify gaps to close and long-term opportunities to build from the metaverse and its key concepts, then work on foundational measures.
      • 3. Test the waters. Select a few opportunities available within the metaverse’s underlying trends today.
    • Long-term foundations
      • 4. Focus on trust. The metaverse and its currently existing components offer new challenges for cybersecurity, privacy rights, regulatory compliance, brand reputation and anti-fraud efforts.
      • 5. Rethink core competencies. What offers competitive advantage in a shared, decentralized digital environment may be different from what you have today. 
      • 6. Align physical and digital. If you have added or plan on adding digital services and/or assets to your portfolio, drive for a consistent brand experience across both the physical and digital constructs. 


Genioux knowledge fact condensed as an image



References


Demystifying the metaverse, February 2022, PricewaterhouseCoopers, PwC.


ABOUT THE AUTHORS


PricewaterhouseCoopers (PwC)


Extracted from Wikipedia

PricewaterhouseCoopers is a multinational professional services network of firms, operating as partnerships under the PwC brand. PwC ranks as the second-largest professional services network in the world and is considered one of the Big Four accounting firms, along with Deloitte, EY and KPMG.

PwC firms operate in 157 countries, 742 locations, with 284,000 people. As of 2019, 26% of the workforce was based in the Americas, 26% in Asia, 32% in Western Europe and 5% in Middle East and Africa. The company's global revenues were $42.4 billion in FY 2019, of which $17.4 billion was generated by its Assurance practice, $10.7 billion by its Tax and Legal practice and $14.4 billion by its Advisory practice.

The firm in its present form was created in 1998 by a merger between two accounting firms: Coopers & Lybrand, and Price Waterhouse. Both firms had histories dating back to the 19th century. The trading name was shortened to PwC (stylized pwc) in September 2010 as part of a rebranding effort.

PricewaterhouseCoopers International Limited, based in London, England, is a co-ordinating entity for the global network of firms. It manages the global brand, and develops policies and initiatives, to create a common and coordinated approach in areas such as risk, quality, and strategy. It does not provide services to clients.

As of 2021, PwC is the fourth-largest privately owned company in the United States.



Extra-condensed knowledge



Lessons learned, PwC  

The metaverse is an evolution, not a revolution — with opportunities today


Golden knowledge (GK) Juice



  • The metaverse was first described and named almost 30 years ago — but we’re still in the early days. That’s true even though some digital platforms are calling themselves metaverses. Computing power, headsets, software protocols and networking capacity just aren’t ready yet to support a truly immersive and shared metaverse.
  • Yet this future is coming, as the culmination of a long-running trend: for innovative new technologies to blend into a greater whole. 
  • Still largely missing is the metaverse’s promised interoperability: a digital world where you and your customers can transition seamlessly among multiple experiences offered by various providers. This connectivity will require a new architecture for the internet, often called web 3.0. The idea is that first came static web pages (web 1.0). Then came our current internet (web 2.0) with dynamic content, but only within platforms that companies own and govern. Web 3.0, which internet innovators and investors are currently working on, is supposed to be a decentralized structure with countless interoperable platforms.
  • Whether or not this vision ever arrives, enough components of the metaverse already exist to offer opportunities, along with risks, today.


Condensed knowledge




Lessons learned, PwC  

What makes a metaverse: key concepts to master


Golden knowledge (GK) Juice



  • One way to think of the metaverse is as a set of opportunities from which your company can select a few to focus on. Based on our years of work with the technology trends that are now converging to form the metaverse, we’ve identified six concepts that we believe will be its foundation. Most are not yet fully mature and the full value of true convergence is still unrealized by most organizations. 
    1. Economy
      • Cryptocurrencies, non-fungible tokens (NFTs) and other blockchain-based digital currencies, assets and exchanges will likely underpin value exchange across the metaverse.
    2. Interoperability
      • A true metaverse requires seamless interoperability among users and platforms, based on web 3.0 and still-to-be-determined standards. 
    3. Governance
      • The metaverse will need rules of engagement for users, rules for how the metaverse itself can change over time and enforcement mechanisms, including for tax collection, data governance and regulatory compliance.
    4. Identity
      • In the internet today, identity is often linked to platforms. It may be true, pseudonymous or anonymous. The metaverse, decentralized and interconnected, will need trusted digital identities — for people, assets and organizations — that port across platforms.
    5. Experience
      • A shared, persistent and immersive 3D digital world will offer unique experiences, based on its own aesthetics — beliefs, ideals and tastes as expressed in individual choices. 
    6. Persistence
      • A true metaverse should reflect in real time the changes made in it by different participants, entering and leaving it in different ways, in different places, at different times. 



Some relevant characteristics of this "genioux fact"

  • Category 2: The Big Picture of the Digital Age
  • [genioux fact deduced or extracted from PwC]
  • This is a “genioux fact fast solution.”
  • Tag Opportunities those travelling at high speed on GKPath
  • Type of essential knowledge of this “genioux fact”: Essential Analyzed Knowledge (EAK).
  • Type of validity of the "genioux fact". 

    • Inherited from sources + Supported by the knowledge of one or more experts.


References


“genioux facts”: The online programme on MASTERING “THE BIG PICTURE OF THE DIGITAL AGE”, g-f(2)921, Fernando Machuca, February 10, 2022, blog.geniouxfacts.com, geniouxfacts.com, Genioux.com Corporation.


ABOUT THE AUTHORS


PhD with awarded honors in computer science in France

Fernando is the director of "genioux facts". He is the entrepreneur, researcher and professor who has a disruptive proposal in The Digital Age to improve the world and reduce poverty + ignorance + violence. A critical piece of the solution puzzle is "genioux facts". The Innovation Value of "genioux facts" is exceptional for individuals, companies and any kind of organization.




Key “genioux facts”


  • Some relevant and recent "genioux facts" from the g-f golden knowledge pyramid to master the big picture of the digital age.
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    6. g-f(2)915 THE NEW WORLD (2/9/2022), Forbes, Why Do Startups Fail And Can We Create An AI Formula To Prevent Failure? An Interview With Harvard Business School Professor Tom Eisenmann
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