Welcome back to our Web 3.0 Industry Insights series!🌏
In this edition, we will dive into some of the latest developments and trends related to blockchain technology, cryptocurrencies, NFTs, and the metaverse. These innovative technologies are transforming business models, financial systems, digital ownership, and internet experiences as we know them.
To kick things off, we will explore how NASA plans to use blockchain technology to prove the authenticity of future lunar landings. We will also look at how politicians in the UK are embracing metaverse avatars as they map out a blockchain roadmap for the country.
In addition, we will learn about how tech giants like Google Cloud and Sony are enhancing blockchain data access and building their own proprietary blockchains to power metaverse experiences.
Let's explore the transformative potential of these technologies together. 🤝
Web 3.0 Latest News & Updates
In 2024, NASA, along with Lonestar and the Isle of Man, will send a payload to the moon, containing data cubes. These cubes will hold important data, and will be verified on Earth using blockchain, a secure technology. The goal is to use this to prove that humans have landed on the Moon during Artemis 3 in 2025. Before that, there's Artemis 2 in November 2024, where astronauts will orbit the Moon and return—a practice before the real landing. Lonestar and the Isle of Man are working together to store things on the Moon using solar power. They'll use digital stamps in the data cubes to verify the information when back on Earth. This blockchain system protects future Moon landing data and allows astronauts to confirm their activities on the Moon, disproving doubts. While it can't change past ideas about the Moon landings, blockchain will be a clear record for future missions.
Google Cloud has added 11 blockchains to its 'BigQuery' dataset program. This expansion aims to provide easy access to blockchain data for developers and users, allowing them to ask important questions about NFTs, transaction fees, and active wallets. The goal is to enhance the blockchain information available on BigQuery, enabling users to understand on-chain transaction history, asset flows, and smart contract interactions. Additionally, Google Cloud has improved its blockchain dataset and is committed to delivering more accurate blockchain data. They've made it easier for users to access blockchain data, providing a comprehensive view of users and businesses by integrating chain and application data.
During a virtual metaverse conference, British Government Politicians including Natalie Elphicke discussed the potential of blockchain and Web3 technology while acknowledging risks. Elphicke stated the UK could become a blockchain-enabled "smart country" but is falling behind competitors in creating blockchain opportunities. She called for more global cooperation on blockchain plans, with less than 12 countries having strategies so far. Elphicke highlighted the need to advance the UK’s 2021 National Blockchain Roadmap to utilise blockchain for objectives like climate action and digital IDs. She also said ensuring transparency in decentralised finance is paramount. This conference displayed the UK government’s interest in exploring Web3, aligned with recent legislation passed to regulate internet services and metaverse activity for safety.
Sony is positioning itself to be a major player in the metaverse through a new joint blockchain venture. Sony Network Communications is partnering with web3 startup Startale Labs to build a global blockchain that can support metaverse and digital society development. With Sony's vast media properties across film, music, gaming, and banking, the company aims to leverage its content and tech expertise to create killer metaverse use cases. The new Singapore-based joint venture, Sony Network Communications Labs, will combine Sony's strengths in communication, IoT, and AI with Startale's web3 insights to build infrastructure that powers innovation for the metaverse era. Overall, Sony has bold ambitions to establish its blockchain as the backbone for web3 and drive the future of interconnected digital experiences.
The History of Crypto
Have you ever wondered how crypto became so popular?
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It all started when someone named Satoshi Nakamoto created Bitcoin back in 2008. Bitcoin was a new form of digital money that didn't need banks.
In May 2010, someone made the first real-world Bitcoin transaction, paying 10,000 BTC for two pizzas. At that time, 10,000 BTC was worth about $30.
Today, that amount of Bitcoin would be worth over $200 million! The price of 1 BTC has skyrocketed from less than a penny in 2010 to around $20,000 in September 2023.
Over time, new cryptos like Litecoin and Ethereum were created. Ethereum made it easy for any developer to launch their own crypto. This led to a huge boom in new coins being created.
Big companies like Tesla and PayPal also started accepting crypto, making it more mainstream.
Back in the early days when Bitcoin was new, no one could have imagined how valuable it would become. The two pizzas were an infamous early Bitcoin transaction, highlighting how radically the cryptocurrency's value has grown over the past decade. It shows the power of still-new technologies like blockchain and the potential for Bitcoin to continue appreciating in value.
Read the full blog here.
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Thank you for reading, we'll be back next week with more Web 3.0 Industry Insights...
