Welcome to this week’s Digital Bytes. This week we have analysis on the following topics:
The music industry has digitally transformed and now that the asset management sector is too - many industries have put a digital wrapper around their businesses, promoting themselves online via their websites, emails, artificial intelligence, cloud computing, etc. However, digital transformation is about business transformation and not merely about having the ability to digitally interact with clients and suppliers. We have witnessed the music industry digitally transform and now we are seeing the asset management industry follow suit as more digitised/tokenised funds are being created.
How blockchain technology can help fight fake news - as digital disinformation and misinformation increase, the media industry faces a profound crisis of confidence. At the centre of this problem is a disconnection with the audience in the era of social media. To mitigate this, tech companies have stepped in as the gatekeepers of information - proposing several solutions. Of these, there is an emerging technology with the potential to address most of the root causes of (and risks associated with) misleading and manipulated media - that is, blockchain. However, the question of exactly how the blockchain technology limits the spread of fake news should be addressed.
How the metaverse is changing business - the size of the global metaverse market is predicted to reach $426.9 billion by 2027 (currently it is valued at $61.8 billion). Global brands such as Nike, KPMG and Accenture have already embraced the metaverse and we have also seen firms such as Facebook (which rebranded as Meta in 2021), Microsoft, Google and Apple pouring capital into it. Easy to dismiss the metaverse in the same way as some did with mobile phones or the internet but, as the virtual and physical worlds become blended, it does seem the metaverse is set to change businesses in many ways.
Blockchains and sustainable development - blockchain, along with its close friend, AI, and their ‘children’ - DAOs, NFTs and metaverses - are being watched globally to see if they will be the next panacea for the world’s crises. Whilst being no magic bullet, blockchain technologies have the unique capacity to provide automated solutions that certainly support many of the United Nations’ (UNs’) ESGs.
Jonny Fry / James Tylee of Digital Bytes by Team Blockchain on Cyber.FM featuring CC Forum with Marco Aniballi of Block Box, LLC