War of the Worlds 3.0 in the Metaverse

Posted August 2, 2022



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Even today, the perception of the Metaverse by the public are video games, virtual reality experiences, still emerging technologies, social applications to hold meetings with glasses and headphones. But for those who envision broader business prospects, it’s a new Eldorado for tomorrow; and let’s also imagine selling financial services there.

But we are also beginning to imagine a long-term vision of the Metaverse, as a new virtual world, which will converge with the real world we know, to forge an entirely new world that will transform us all.

This is the exercise carried out by the Deloitte China teams, in a reportage with sci-fi nuances.

This new world has four dimensions.

First dimension: the Metaverse, a mirror that simulates the real world

It models the real world in ten elements: the environment, people, objects, institutions, society, as well as economic systems, corporate production, individual production, civilization and governance.

In the virtual world of the metaverse we will find these same ten elements.

But it goes further, because the Metaverse also allows you to create a virtual world with the same ten elements, but completely new.

It is the second dimension.

Second dimension: a native virtual world

The Metaverse, in fact, will allow you to create people, objects, environments, which will be completely virtual. And also new regulations and methods of governance.

We will meet avatars of people from the real world, but also completely virtual people, without a correspondent in the real world. Ditto for objects: NFTs are original virtual objects.

For organizations there are DAOs ( Decentralized autonomous organizations), decentralized models, without leader, which are governed by rules sanctioned by art blockchainand completely different from real-world organizational models that still work with more centralized models.

Third dimension: the real world

The real world will ultimately be an integral part of the Metaverse world, as there will be facsimiles of real world elements: our avatars, for example. And what creates value in the Metaverse is generated by the interactions between the real world and the virtual world: we can shop in the Metaverse and obtain items and products in the real world. And viceversa.

Fourth dimension: convergence and interactions between the real and virtual world

By giving the opportunity to move from one world to another, we create a new world.

It is the degree of convergence and interaction between these two worlds that will be critical, and all the more so at that moment, as some imagine very soon, when there will be more interactions in the virtual world than in the real world.

At the first level, the virtual world will replicate the real world, with identical rules.

But then we can imagine that new rules of government will emerge in this new world. With the unresolved question: who will rule the Metaverse? Humans or artificial intelligence? States or companies? Not so obvious at a time when tech companies already have more population data than states.

New communities, even societies, will be created with the Metaverse, which will be completely independent of the states. With new avatars, rules and currencies.

Those who dream of a new world of the Metaverse envision it as one in which the privilege of centralized power will weaken or disappear. With DAOs and new hybrid communities, no state body, no country, will be able to exercise control. Not easy for taxation.

But the interactions go even further and raise new questions: Who will control the security of information, data and integrity, as well as privacy?

This Metaverse will also consume a lot of networks and data storage, as well as energy. Who will regulate all this and how will it be compatible with the search for carbon neutrality? How will the necessary infrastructures be built and managed?

It is quite paradoxical that Deloitte’s Chinese teams are asking all these questions.

Will this new world be invented in the East?

Another aspect of the geopolitical war, of which we have not yet measured all the dimensions.

War of the Worlds version 3.0?

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