Integration of Blockchain Technology in Met Averse for Future Era of Digital Businesses
Sravan Kodem, Hardeep Singh, S Ravi Kumar, Hani Navinbhai Patel, Radha Raman Chandan, Karthikraj · 2023
Unquestionably one of the most useful technology developments to be launched in the last ten years, blockchain has had a tremendous impact on the industrial revolution. Social media networks and 3D virtual worlds accepted the metaverse as the new standard when Facebook rebranded itself as Metaverse in October 2021. The metaverse uses several useful technologies to offer customers personalized, 3D immersive experiences. Despite its expanding acceptance and benefits, users' digital information and material must be safeguarded in the metaverse. The answer in this area may be blockchain, which stands out for being decentralized, irreversible, and transparent. We need to give a careful assessment of the utilization of blockchain to more readily comprehend the capability it plays in the metaverse. Data collecting, storage, and sharing, and security for privacy are just a few of the technical facets of blockchain-based metaverse systems that we examine. We also examine the ways in which blockchain impacts key metaverse enabling technologies such as digital twins, multimodal programming, the Internet of Things, and vivid experiences. We also present many crucial efforts to highlight the importance of blockchain in metaverse apps and services. We conclude by describing some fascinating potential lines of inquiry, invention, and development that will lead to the use of blockchain in the metaverse.