The "metacosm" that has swept the world
Since last year, the concept of a "metaverse" derived from science fiction has taken the world by storm. The word "Metaverse" consists of two parts: "Meta" means "transcendence", "Verse" means "universe", and together it literally translates to "beyond the universe", meaning "a digital world operating parallel to the real world". The "metaverse" transmits information to the real world through sound, images, videos, words and other channels, and the real world mainly transmits information to the metaverse through oracles.
In simple terms, the "metaverse" represents a virtual world parallel to and highly interconnected with the real world, including augmented reality (AR), virtual reality (VR), cloud computing, AI, 5G, blockchain and other technologies, in which people can use the digital avatar to communicate.
The key elements of the Metacosm include virtual identities, social networks, immersive experiences, and diverse content (e.g., entertainment, gaming, lifestyle, education, financial services, etc.) that customers can easily access anytime, anywhere, and the platform should have a well-functioning virtual civilization ecosystem. Blockchain technology will become the underlying technology for building a "metacosm", and social media platforms, e-commerce companies or payment platforms can all become the beneficiaries of the "metacosm".
Metacosm meets banks
In the wake of the boom, many financial institutions at home and abroad are eager to try, for example, Baixin Bank rushed to launch its first virtual digital employee AIYA on December 30 last year.
Image source: Little Red Book
According to the China Banking and Insurance News, banks in the United States, France, South Korea and other countries have also shown a development trend towards the metacosm.
- Bank of America announced vr training for employees to use VR headsets to use their professional skills, including deepening communication with customers, negotiating with customers to solve problems, and answering questions for customers.
- BNP Paribas has also launched a VR app that allows the bank's retail customers to access accounts and query transaction records in a virtual environment.
- Kookmin Bank has created a virtual town on the "meta-universe" platform Gaser, which includes a financial business center, a remote work center and a playing field. In virtual towns, customers can consult the bank's various businesses in a digital identity, and enterprises can complete recruitment, online office, and participate in online entertainment activities through the platform.
What a metacosmic bank
※ Mature and intelligent virtual employees
For example, in 2019, Baidu and SpDB joined forces to create the first virtual digital employee "Xiaopu" in China. However, at present, virtual employees are only based on real-world scenarios to improve the service experience. The virtual employees in Metacostem Bank, relying on powerful AI and VR technology, can serve customers anytime, anywhere, and will perfectly adapt to customer needs, better "understand" customers, and explore potential business.
※ Ubiquitous and all-time service
After entering the metaverse through the wearable device, the customer uses his authenticated virtual identity in the specific metaverse to "go directly to" the bank hall with one click, guided by AI virtual employees, and can also "summon the bank" in the metaverse at any time through specific instructions to use related services. It is no longer necessary to queue up at physical outlets according to the bank's "working hours".
※ Personalized customization ability
Meta-universe banking service supply has the ultimate personalized customization ability, then, the service scene is limited to the imagination of customers. Banks are no longer banks, but hotels, cinemas, and even playgrounds, with scenes for customers to customize.
In this regard, Zhao Zhihong, vice president and chief risk management officer of Bohai Bank, once concluded that the service characteristics of Meta-Universe Bank are mainly that the all-weather service without feeling is that the all-weather service without feeling, reconstructing the customer interaction mode, and customizing the ultimate personalized financial services in real time is the "only way" for online and offline links, and at the same time, it can also promote the development of asset forms and asset concepts, but he also admitted that the development of Meta-Universe Bank still needs a long-term evolution of the risk control compliance system.
ZHAO Zhihong. Meta Bank - Virtual Bank 2.0[J].Contemporary Financiers, 2021(12):65-68.
It is still developing in exploration
Although more and more overseas banking institutions are imagining investing and building a "meta-cosmic bank", it is still unknown when its significant results will be.
Wu Tong of the Central University of Finance and Economics believes that there is no doubt that the metacosm can promote the combination of virtual and real, promote the development of related hardware industries, help establish a digital labor paradigm, deepen the development of the virtual economy, and continue to iterate and improve itself. Although the world of the metacosm is brilliant and fascinating, and the future is promising, it still needs the landing and breakthrough of various lines to achieve the expected state.
Wu Tong,Wang Long. Metacosm: A Practice of a Generalized Token Economy[J/OL].Journal of Dongbei University of Finance and Economics
Specific analysis, from the technical level, CITIC Securities Research Report believes that AI, graphics engine, high-speed wireless communication and other aspects of technology may affect the development process of the "metacosmity", the relevant technical process is uncertain; from the platform to the infrastructure development, will also bring many challenges to the Internet platform; the "metacosm" and the digital world for the consumption of power energy, the need for more sustainable energy and energy storage infrastructure, will also bring challenges to the future energy structure.
It is speculated that the mature "metacosm" may not be realized until 20 to 30 years later, which shows that commercial banks will still have a long way to go from temptation to playing with the "metacosm".
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