Emerging technologies have been gaining popularity recently because of their ability and potential to change how we interact with the world. Outdated systems are starting to crumble with further implementation of these new technologies. 

Achusi Amara, a Woman-in-DeFi, in a recent interview, provided further insight on this development as she analyzed the dynamics of Metaverse as part of the innovations in the blockchain system that will transform the global economic system. 

She said that in the Metaverse, people use avatars to represent themselves, communicate, and virtually build out the community. There is also the use of digital currency to buy anything available in the ecosystem. Nowadays, people purchase virtual lands and clothing items as top companies in the world already own spaces in the Metaverse; worthy of note is NIKE.

Achusi went on to state the difference between the internet and the Metaverse. She said the Metaverse does not compete with the internet; it builds on it. In the Metaverse, users traverse a virtual world that mimics aspects of the physical world using technologies such as virtual reality (VR), augmented reality (AR), artificial intelligence (AI), machine learning (ML), social media, and digital currency, which all operate on blockchain technology.  

While this is fascinating, Achusi said that when new things emerge in the world, it is best to research them and understand how they work. 

"With that understanding, we can think about and plan for the new business applications for those things and the new ways our business may profit from them," She noted. 

The Metaverse did not become a household term until Facebook changed its corporate name to Meta in October 2021. The company announced plans to spend $10 billion over the next year on technologies to build out its vision of the Metaverse.

The Metaverse is considered the next evolution of the internet. It will take many forms, including gaming, online communities, and business meetings where people collaborate via a digital facsimile or avatar of themselves.

This rapid change in the digital landscape has seen fast-evolving forms of technology come to the forefront. Today, we talk about Cryptos, NFTs, and Metaverse that operate on the blockchain system. All of which is referred to as decentralized finance geared toward disrupting the traditional finance world.

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