![]() ![]() With the implementation of blockchain, it can be ensured that all the social media published data remain untraceable and cannot be duplicated, even after its deletion. Therefore, the blockchain blend in the social media domain is another emerging technology trend in 2023. The introduction of blockchain in social media will be able to solve the problems related to notorious scandals, privacy violations, data control, and content relevance. There are around 4.74 billion social media users around the globe in 2022. Social Networking Problems Meet Blockchain Solution As of now, stablecoins are in their initial phase and it is predicted that 2023 will be the year when blockchain stablecoins will achieve their all-time high. To avoid that volatility, stablecoins came to the picture strongly with stable value associate with each coin. Using Bitcoin as an example of cryptocurrencies its highly volatile in nature. Businesses and institutions can easily enjoy the basic benefits of the blockchain. Proof of ownership through something as immutable and scarce as NFTs will be required to prevent forgery of these assets.Īt the end blockchain 4.0 will enable businesses to move some or all of their current operations onto secure, self-recording applications based on decentralized, trustless, and encrypted ledgers. Take the Metaverse gaming platform, for example, where users may purchase, possess, and trade in-game items with potentially enormous value. Decentraland, Axie Infinity, and Starl, these are all decentralized Metaverses powered by Blockchain.Īlso, blockchain 4.0’s advanced solutions can help Metaverse users regulate their security and trust needs. Therefore, much emphasis has been placed on developing decentralized Metaverse platforms that will provide user autonomy. Giving power to centralized bodies to regulate, control and distribute users’ data is not a sustainable set-up for the future of Metaverse. All these almost likely means higher cybercrime exposure. Metaverse will make these experiences more vivid and natural.Īdvanced AI, IoT, AR & VR, Cloud computing and Blockchain technologies will come into play to create the virtual-reality spaces of metaverse, where users will interact with a computer-generated environment and other users through realistic experiences.Ĭentralized Metaverse entails more intense user engagements, deeper use of internet services and more uncovering of users’ personal data. We are connected to virtual worlds across different touchpoints like social engagement, gaming, working, networking and many more. The dream projects of tech giants like Facebook, Microsoft, Nvidia, and many more, Metaverses, are the next big thing for us to experience in the coming few years. There are already some third-generation blockchains that are designed to support web 3.0, but with the rise of Blockchain 4.0, we can expect the emergence of more web 3.0 focused blockchains that will feature cohesive interoperability, automation through smart contracts, seamless integration, and censorship-resistant storage of P2P data files. Web 3.0, is focused at having decentralization at its core, therefore Blockchain plays a critical role in its development Because Web 3.0 aims to create an autonomous, open, and intelligent internet, it will rely on decentralized protocols, which blockchain can provide. The world needs Web 3.0- a user-sovereign platform. The 2008 global financial crisis exposed the cracks in centralized control, paving the way for decentralization. We can divide Blockchain 4.0 applications into two verticals: Speed, user experience and usability by larger and common mass will be the key focus areas for Blockchain 4.0. The following 9 trends will dominate blockchain technology in 2023: Blockchain 4.0īlockchain 4.0 is focused on innovation. It’s clear that blockchain will revolutionize operations and processes in many industries and governments agencies if adopted, but its adoption requires time and efforts, in addition, blockchain technology will stimulate people to acquire new skills, and traditional business will have to completely reconsider their processes to harvest the maximum benefits from using this promising technology.
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