After Digital Banking, Now Comes Metaverse Banking The world of metaverse is considered to be one of the profitable technologies for the banking world. It offers new experiences, convenience, and satisfaction for customers. Currently, mobile banking is an early stage in entering the world of the metaverse. Therefore, all banks in Asia Pacific continue to […]
After Digital Banking, Now Comes Metaverse Banking
The world of metaverse is considered to be one of the profitable technologies for the banking world. It offers new experiences, convenience, and satisfaction for customers. Currently, mobile banking is an early stage in entering the world of the metaverse. Therefore, all banks in Asia Pacific continue to compete to turn banking applications into super apps.
Currently, banks are competing not only to go digital just to check balances and transfers. But also start super apps that enter the ecosystem. Metaverse will attract customers, especially millennial, to take over. Currently, many banking branch offices are starting to close, as a result of digitalization, as well as for cost efficiency.
On the other hand, the role of branch offices is still important for large transactions, customer relations, and related to complex issues. If possible, don’t waste time, through the metaverse, we can achieve things that are complex and physical in nature digitally. So what is called digital banking, in the future will not only be mobile banking but also metaverse banking.
Digital Banking, In the Future Not Only Mobile Banking But Also Metaverse Banking
Nowadays technology is changing very fast. Moreover, 3 world giant companies such as Facebook, Microsoft, and Google have committed to enter the Metaverse. In the future we have to imagine not only digital banking but metaverse banking. We will be shaped like an avatar. We can buy clothes and wear on his avatar. It will be a life of its own in the metaverse.
As for the benefits of metaverse for banking, namely physical services which are usually served at branches, through the metaverse world it will be easier and feel like being in a branch office. Currently, there are many overseas banks that say they will enter the metaverse world, such as several banks in Korea, KB Kookmin Bank, Industrial Bank of Korea, NH Nonghyup and Hana Bank.
Then there are also Bank of America, BNP Paribas, Bank of Kuwait, and Mecrobank. With the current developments, I believe that many banks in Asia Pacific will enter the metaverse. Currently, many millennials who have a lot of money are priority banking customers. Metaverse is the right choice for banks to provide the best service to these customers.
Meanwhile, the metaverse world can blur the boundaries between reality and the virtual world, so that Metaverse users can experience a physical atmosphere that is similar to the real world. Transaction activities such as remittances can be managed at the teller or through Metaverse. This can be a new experience for customers.
Metaverse Banking Offers New Experience for Customers
Currently, many banks abroad, for example in South Korea, have stated that they have entered the metaverse to improve their services to customers. Then Bank of America, BNP Paribas then Bank of Kuwait and finally Mecrobank in Sweden. So it is no exaggeration to say that metaverse technology is the future of banking, including banking in Indonesia.
Many things can be explored by banking in the metaverse to provide new experiences for customers and create customer satisfaction. The clearest example of where the metaverse can impact banking is in customer interactions, especially during a pandemic like the current one. Many banks already offer face-to-face video services with customers and use interactive teller machines using video connectivity and more robust functionality than ATMs. But in the future serving customers in the virtual world will be an absolute. Meteverse is the answer.
YouTube Goals This Year: NFT and the Metaverse Virtual World
YouTube outlines their plans for block chain and the metaverse in 2022. The Google-owned company said users could take advantage of new technology to reduce fraud in the rapidly growing digital art market.
YouTube will also offer a better viewing experience for game-specific content. The world’s largest streaming service has for the past year been trying to provide better guidance to users amid increasing competition from TikTok from ByteDance and Instagram.
Last month, YouTube said it was exploring so-called Web3 technologies such as non-fungible tokens (NFTs), which are video clips, art, or other digital assets linked to block chain-based recording technology.
YouTube said in a blog post, showing that it could make processing NFT transactions more secure. As is known, NFT sales have soared since last year, but many critics say that NFT is just a scam, copyright theft and other predatory behavior.
YouTube provides a verifiable way for fans to have videos, photos, art, and even unique experiences from their favorite creators, which can be an attractive prospect for content creators and their audiences.
YouTube has also prioritized the metaverse, an element of the Web3 movement that describes a virtual world, where people typically interact via avatars.
YouTube says it is possible for users to be able to watch videos together in the metaverse. However, in general for now YouTube will only focus on videos related to games. That’s what YouTube will work on to bring more interaction to the game and make it feel more alive.
The Role of NON-fungible tokens (NFT) in Supporting the Metaverse
NON-fungible tokens (NFT) and Metaverse are increasingly being discussed today. Many people who don’t want to be left behind have started exploring NFT and the metaverse, both as creators and collectors. If you look at the search data for the keywords “NFT” on Google Trends in the January 2021-January 2022 period, you can see an increase of more than 100%.
This ensures that there is an increasing trend in the community to know about NFT. NFT itself has a function as proof of ownership in digital form and to own it is usually by exchanging fungible tokens such as ETH, BSC, BNB, or TKO. The form of utility from NFT can also vary, such as access to play-to-earn games, collectible items, merchandising, ticketing, and others.
In Asia Pacific, many community-based NFT projects have attracted worldwide attention such as the Superlative Secret Society, Avarik Saga, Shark Outlaw Squad, Debbie Tea, and others. Not only NFT projects, many countries in Asia Pacific Indonesia already have an NFT marketplace platform to support a more mature NFT ecosystem.
Currently, more and more business players in the creative field are accessing the global market through the use of NFT. NFT has great potential in the future considering the blockchain industry ecosystem that is still growing and the number of talented creative actors in Asia Pacific is very large and diverse. This great potential must be balanced with proper education for people who are interested in NFT as creators or collectors. There is still a gap between awareness and understanding even though this trend of NFT is increasing in society. This is a challenge for business people in the NFT field to ensure that this education is delivered properly and appropriately, with credible information.