Will the Metaverse Power the Next Industrial Revolution?

The next step in the development of virtual reality, the industrial metaverse, could completely alter the way we interact with the actual world. It’s a combination of AR and a collaborative online space for business and industrial purposes.

More importantly, its emphasis on work rather than play will open up exciting opportunities for new forms of collaboration and the development of ground-breaking goods and services.

Consumer-driven metaverses like video games and social media platforms get all the glory these days, while the industrial metaverse has greater potential in terms of utility and economic value. It has the potential to become one of the most crucial pillars of our economy in the next years because of its ability to promote efficiency while enabling creativity at scale.

What’s More To The Industrial Metaverse? 

Free and open, Industry 4.0, also known as the Industrial Metaverse, is a framework for developing intelligent devices that can work together in real-time. It paves the way for these gadgets to interact with one another and share information and resources. By doing so, we can create a world in which all systems are in perfect harmony.

The International Innovation Council (IIC) claims that with the advent of Industry 4.0, manufacturers will be able to automate procedures, improve product quality, reduce costs, and increase output. The ensuing streamlined information flow will help companies better serve their customers, increase productivity, and reduce costs across the board from product design to delivery.

Industry 4.0 operates in a virtual world, or “metaverse,” where machines may be controlled and monitored from anywhere on the planet. Since the metaverse is an expansion of the IoT, which links everything to the internet via smart gadgets, it paves the way for a new paradigm in the way data moves between humans, machines, and inanimate objects.

One common application of the Metaverse is the creation of “digital twins,” or virtual versions of physical objects. Some companies are already making use of this technology, and it is expected that the $540 billion in revenue forecast for the industrial metaverse in 2025 will be realized as companies increasingly use Industry 4.0 technologies.

Are you excited to witness this industrial revolution? 

Crypto Hardware Wallet Ledger’s Asian Expansion Plans

Ledger known for protecting Cryptocurrencies with their popular multi currency hardware wallets is looking at expanding in Asia. It plans to utilize its new branch in the Asian busy town of Hong Kong, where Benjamin Soong is heading the Asian Pacific region.

In an exclusive interview with EJ Insight, Soong highlighted the severals ways Ledger will be looking out to expand in Asia.

Ledger’s Current Business Model

Ledger’s primary objective is to secure Cryptocurrencies in its advanced wallets which include the Nano and Nano S. Currently it ships to 165 countries, with a total sale of 1.5 million so far, with a whopping US$46 million in revenue recorded in 2017.

The latest offering is the Ledger Vault targetted towards the institutions such as hedge funds, crypto funds, exchanges, banks and custodians.

Ledger also is focusing on the Internet of Things in relation to security points.

The Asian Crypto Market

In the interview Soong, spoke about the importance of China and Korea in terms of Cryptocurrency markets. He touched on some interesting statistics such as 70% of the biggest Cryptocurrency exchanges being based in the Asia Pacific region with the right mix of retail and institutional investors.

Soong specified that exchanges are what needs to be protected at the present moment. It is likely that Ledger could partner up with exchanges to provide a secure Cryptocurrency wallet given that Cryptocurrency exchanges are being targetted by hackers.

Questions still remain in terms of Cryptocurrencies in the two most populated countries in the world – China and India. While China is over-regulated, the scenario could change soon given that certain areas have showcased their Blockchain and Crypto presence. As for India, a number of Cryptocurrency enthusiasts such as Blockchained India are doing all they can to help gain a more favourable legal environment for the digital assets.

With companies like Ledger displaying their active interest in Asia, it showcases the rapid developments taking place for Blockchain and Cryptocurrency in the region.