IN THE NEWS THIS WEEK

[Quantum Technology] SoftBank Corp. and SandboxAQ Jointly Verify Hybrid Mode Quantum-safe Technology. SoftBank Corp. (“SoftBank”) has announced on February 27th, 2023, that it has finalized a demo of combined classical encryption algorithms presented by elliptic curve cryptography (ECC), with Post Quantum Cryptography (PQC) algorithms incorporating a hybrid method. The proof of concept was efficaciously finalized by collaborating with SandboxAQ(Open in a new window). The implementation of PQC on real networks is critical and fundamental for the continuous development and growth of an advanced information society.

[AI] Snapchat is releasing its personal AI chatbot boosted by ChatGPT. Snapchat will be releasing a chatbot boosted by the latest version of OpenAI’s ChatGPT in 2023. As per the press release of Snapchat CEO Evan Spiegel, Snapshot will be taking a bet on the AI chatbots since they are becoming a part of people’s lives in the modern times. Named “My AI,” Snapchat’s chatbot will be attached to the app’s chat tab above conversations with friends. Although it will be initially available for $3.99 a month for all the Snapchat Plus subscribers, the company aims to make it available for over 750 million monthly users on Snapshot.

[Blockchain] Soulbound tokens power new identity solution on Celo blockchain. On March 1st, 2023, Soulbound Tones broke their months long silence in the Web3 world with the release of the news that it will be deploy on the carbon-negative Celo blockchain to create a new identity solution. The SBT protocol Masa Finance has over 10 million wallets active in the Celo ecosystem which will be capable of generating a Masa “prosperity passport.” This latest Web3 identity solution will allow the users to pile a variety of SBTs linked to their digital life including the authenticated user verification SBT, a credit score SBT, a community reputation SBT and a “.celo” domain name SBT.

[Industrial Metaverse] Morpheus Launches Turnkey VR Enterprise Solution. VR collaboration platform Morpheus has declared on 28th February, 2023, that it had launched its virtual reality (VR) remote collaboration platform for boosting the engagement across enterprises. The company aims to offer a one-stop shop for companies who seek healthier corporate cultures, minimize the Zoom meetings fatigue, and “future-proof their business.” Morpheus will be offering Fortune 2000 firms a high-fidelity virtual space coupled with immersive experiences marketplace with a detailed catalogue of VR services with services like onboarding and headset deployments.

[General technology] Venom Foundation launches $1bn web3 fund from Abu Dhabi. The Venom Foundation which is an Abu Dhabi-based blockchain platform and investment manager Iceberg Capital have announced that they will be investing a $1 billion venture fund in web3 and blockchain projects. The Venom Ventures Fund (VVF) is planning to invest in pre-seed to Series A funding rounds which will include the projects based on decentralized finance (DeFi), payments, asset management, and blockchain gaming. Venom Foundation is a layer-1 blockchain solution based in Middle East, North Africa, and other emerging economies around the world.

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OTHER NEWS AND TOP READS

• ​How Can Quantum Entanglement Be Used For Secure Communication?​
• ​Deloitte Unveils Unlimited Reality™ Immersive Experience Platform ‘Mirror World’ at Mobile World Congress​
• ​Future of justice: Colombia makes history by hosting its first-ever court hearing in the metaverse​
• ​Broadridge’s DLT repo platform transacts $1 trillion a month. Just getting started​
• ​20 global currency stablecoins to form International Standards Body​
• ​Ford Applies to Patent Self-Repossessing Cars That Can Drive Themselves Away​
• ​This VR headset makes you feel things on your lips, mouth and tongue​

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FEATURED

Tech Giants Join Forces to Create Open Metaverse Infrastructure in Japan

By: Jake Boreham

On February 28th, 2023, a fundamental agreement was signed to develop the Japan Metaverse Economic Zone and build the Open Metaverse Infrastructure named as “RYUGUKOKU” between the JCB Co, Fujitsu Ltd., Mitsubishi Corporation, and many other tech companies. This agreement is a landmark innovation depicting the leap taken to the development of immersive and virtual reality technology in Japan in the future.

Figure 1 Tech Giants Join Forces to Create Open Metaverse Infrastructure in Japan

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People can communicate in multiple ways in the metaverse environment which is a virtual environment. The metaverse has been gaining a lot of attention in the IT community with the immense popularity of the virtual reality and immersive technologies. The main aim of RYUGUKOKU project is to develop an open infrastructure which various businesses and individuals can incorporate to design and operate a variety of services in the metaverse. Users will be able to access services in a gamified interface owing to the platform’s virtual world role-playing game (RPG) foundation.

The Japan Metaverse Economic Zone will act as a landmark center for the businesses collaborating in the metaverse. It will also act as a major support for the technological breakthroughs in Japan. Companies can new technologies without worrying about technical issues by developing an open infrastructure for the metaverse.

It will be a huge breakthrough not only for Japan but for the entire Asia Pacific region.

Read the full report from the Metaverse Insider: https://metaverseinsider.tech/2023/02/28/tech-giants-join-forces-to-create-open-metaverse-infrastructure-in-japan/

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