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Nokia expects future developments in the Metaverse, Web3 and AI to lead to a surge in network demand

Nokia expects the development of the metaverse, Web3, and artificial intelligence in the future to lead to a surge in network demand and plans to fill this gap by 2030. Their "2030 Technology Strategy Report" focuses on building the future network architecture to serve emerging innovative markets. Network demand is expected to grow by 22% to 25%. Nokia will focus on investing in network equipment and services. Nokia is also focused on the value internet ecosystem, including decentralization, blockchain, and smart contracts. They plan to focus on human enhancement, spatial computing, and distributed processing in the metaverse field. In addition, Nokia is using metaverse technology to assist aircraft technicians in South Australia and conducting digital twin experiments in Finland.

"2023 China Metaverse Industry White Paper" released in Beijing

On February 1st, it was announced that the "2023 China Metaverse Industry White Paper" was jointly compiled and released in Beijing by the China Market Research Association's Blockchain Professional Committee, the China Private Technology Industry Association's Metaverse Work Committee, and the Harbin Institute of Technology's Blockchain Research Center. The expert committee pointed out that since the Metaverse became popular and capital entered the market in 2021, after two years of exploration, Metaverse enterprises have begun to try to implement projects. In recent years, many regions in China have already laid out the Metaverse in advance, using it as a major driving force to accelerate the digital transformation of the region and promote the development of the digital economy.

Interpol Releases Metaverse Crime Report, Explaining Different Crimes That May Be Committed in the Metaverse

Interpol (International Criminal Police Organization) has released a report examining the metaverse from a law enforcement perspective. The report considers illegal activities in the metaverse, including metacrime, metaverse forensics, governance, and the opportunities it provides for law enforcement agencies to utilize it.Interpol Secretary General Jurgen Stock stated, "The emergence of powerful technologies such as the metaverse has made the criminal environment increasingly complex and transnational, presenting new challenges for law enforcement agencies."

Professor from the School of Computer Science at Wuhan University: In the future, humans can actively enter the world of AI through the metaverse

Professor Cai Hengjin from the School of Computer Science at Wuhan University stated to the "Science and Technology Innovation Board Daily" that in the upcoming era of AGI, humans can actively enter the AI world through the metaverse, that is, through blockchain architecture in the metaverse for information and value exchange, participating in interaction and decision-making and conquering machine cognition, endowing machines with a life perspective. Human avatar nodes and machine perception nodes, storage nodes, and computing nodes jointly form a distributed intelligent society. With the support of blockchain technology, this social entity has transparent historical records that cannot be changed, has more reasonable retrospective and auditing, stronger moral constraints, and is expected to move towards DeFi consensus.

Web3's Great Gambit: Incentives for the Almost Impossible

“When you’re young, you look at television and think, There’s a conspiracy. The networks have conspired to dumb us down. But when you get a little older, you realize that’s not true. The networks are in business to give people exactly what they want. That’s a far more depressing thought. Conspiracy is optimistic! You can shoot the bastards! We can have a revolution! But the networks are really in business to give people what they want. It’s the truth.” - Steve Jobs
Web3's Great Gambit: Incentives for the Almost Impossible

Beosin: Paraluni suffered a price manipulation attack and lost more than $336,000

Beosin EagleEye, a monitoring service under Beosin, has detected that attackers have exploited a price manipulation vulnerability in the Paraluni protocol to profit approximately $336,000 from the contract. Earlier, Web3 security platform Ancilia tweeted that Paraluni, a metaverse project on the Binance Smart Chain, was under attack by price manipulation, which allowed attackers to inflate the value of collateral and borrow more funds, resulting in losses for the project.

Shanghai Putuo Yuanshi Industry Alliance was established. The first batch of 20 units covers enterprises and universities.

Reported that the Yuan Universe Industry Alliance was officially established in Putuo District, Shanghai. Twenty units, including leading state-owned enterprises in the industry such as Shanghai Telecom, Shanghai Mobile, Shanghai Unicom, Shanghai Tower, New State Digital Culture Co., Ltd., cutting-edge technology research and development universities such as Shanghai Polytechnic University and Shanghai Engineering Technology University, and Yuan Universe enterprises in the district, became the first members of the alliance.

The second fund of Indian venture capital Indian Angel Network completed US$42 million in financing and will focus on Web3, Metaverse, etc.

According to DealStreetAsia, Indian Angel Network, an Indian venture capital firm, announced that its second fund, "IAN Alpha Fund," has raised an initial funding of $42 million, with participation from SIDBI (Small Industries Development Bank of India), SRI Fund, and IAN Fund I.The fund will focus on investing in areas such as financial technology, deep tech, Web3, metaverse, and Industry 4.0.

The global Metaverse market will reach US$3.11867 billion in 2032

According to a recent research report released by Precedence Research, the global metaverse market is expected to exceed $68.49 billion in 2022 and is projected to reach around $3,118.67 billion by 2032, with a compound annual growth rate of 44.5% from 2023 to 2032.

Mauritius considers bringing Metaverse into financial services

The Financial Services Commission (FSC) of Mauritius has begun soliciting opinions on the application of the metaverse in the financial services industry.FSC Mauritius has released a consultation paper inviting industry stakeholders and the public to provide feedback on the strategic development and potential impact of the metaverse, which will continue until the end of November.The country plans to ensure that its regulatory and business environment is prepared to adapt to the constantly evolving metaverse on a global scale.<br>Currently, respondents will have the opportunity to share their opinions before November 30th, which will help establish a multidisciplinary working group to explore future policy and regulatory directions.Mauritius also plans to launch a pilot phase of the digital rupee in November 2023 to further promote the development of digital currencies.