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Understanding The Metaverse

About the Course

The course will go over the definition of Metaverse as a digital reality that combines aspects of social media, online gaming, augmented reality (AR), virtual reality (VR), and cryptocurrencies to allow users to interact virtually. Who will benefit from taking this course?


Even though this program is open to everyone it is mainly designed for people working

in:


• Banking.

• Arts industry.

• Music industry.

• IT.

• Payments companies.

• Public sector, given the public policy aspects of Banking.

• Academia.

• Fintech Leaders.

• Digital Banking Managers.

• Banking Heads.

• Start-up Leaders.


Twenty years ago, Second Life started as a virtual world and quickly attracted 1 million users who created a virtual economy of $500m. Virtual worlds are therefore not new, but the rebranding of Facebook into Meta in October 2021 put an intense focus on virtual worlds and the Metaverse. 

Actually, the term Metaverse was coined in Neal Stephenson’s 1992 science fiction novel Snow Crash, where humans, as programmable avatars, interact with each other and software agents, in a three-dimensional virtual space that uses the metaphor of the real world. 


Today, the metaverse can be described as a digital reality that combines aspects of social media, online gaming, augmented reality (AR), virtual reality (VR), and cryptocurrencies to allow users to interact virtually. Augmented reality overlays visual elements, sound, and other sensory input onto real-world settings to enhance the user experience. Therefore, apart from cryptocurrencies, VR and AR are the other two most important elements in the development of the metaverse. 


Recently, a major concert held in Fortnite was seen by 45 million people and grossed around $20 million, including sales of merchandise. People who otherwise would not have had access to such experiences, due to geography or cost, can now participate. 


Critics of the metaverse lament that it is just an existing concept or institution offered as though it were a new one, branding the existing technologies and ideas like VR (virtual 

reality), AR (augmented reality), AI (artificial intelligence) under a new umbrella. But this might be what the metaverse is really about. 

Moreover, investment bank Morgan Stanley remarked in a research note in April that the value of this nascent virtual space could reach US$8 trillion in the Chinese market alone in the future. Technological research and consulting firm Gartner also predicted 25 per cent of people would spend at least one hour a day in the metaverse for work, shopping, education, social interactions and/or entertainment by 2026, when 30 per cent of the organizations in the world would have products and services ready for the metaverse. 


One of the most well-known Metaverse applications are NFTs, which are usually supported by the Ethereum blockchain, are unique assets in the digital world that can be bought and sold like any other piece of property. 

A fungible asset is an item that consists of many identical parts that can be readily interchanged, like money. Nevertheless, if something is non-fungible, it is impossible to interchange it for something else since it has unique properties. 


NFT-based markets may seem only slightly interconnected, but they are all part of a larger opportunity: the Metaverse. The Metaverse is the virtual alternative to our physical universe and may be the next version of the internet, or, in other words, a parallel digital universes hat offers a set of unique experiences to its users. 


Since NFTs provide or transfer ownership of a digital asset, preventing others from claiming ownership by just copying it online, they can actually offer many opportunities to the arts and music 


OUTLINE OF THE WORKSHOP. 


DAY 1. 

1.- Introduction of the Instructor and the Course. 

2.-Round of Introductions: Introduction of each one of the attendees. 


EXERCISE 1 

DEBATE 1 


3.-Incumbent companies vs FinTech: a cooperation relationship nowadays rather than competition. 


EXERCISE 2 

DEBATE 2 


4.- What are digital assets? 

5.- Introduction to Blockchain 

a. What is Blockchain? 

b. How does Blockchain work? 

c. Applications of Blockchain 

i. Crypto currencies. 

ii. Central Bank Digital Currencies (CBDCs). 

iii. Smart contracts. 

iv. Healthcare. 

6.- The Metaverse. 

  • • Concept. 

  • • Technologies used. 

  • • Platforms. 

  • • The phyigital metaverse. 

  • • Examples of companies entering the Metaverse. 

  • • The Metaverse and Web3. 


Business Case 1

DAY 2 


7.-Smart Contracts and Ethereum. 

8.- NFTs (Non-Fungible Tokens): 

  • • Concept. 

  • • The NFT market. 

  • • NFT use cases 

  • • Minting an NFT 

  • • NFT security 

  • • Smart contracts. 

  • • The NFT token standard: ERC-721 

  • • Connecting your NFT with IPFS storage 

  • • What is Ethereum 

  • • NFT Marketplaces 



  • • Mint generative Art NFTs. a. Analysis of the concept. 

  • b. Overview of the main crypto currencies. 

  • c. Opportunities. 

  • d. Risks and challenges. 

  • e. Crypto regulation worldwide. 

  • f. Crypto wallets. 



Business Case 2. 

9.-Cryptocurrencies. 

10.-Others: The Future of Money. 

Central Bank Digital Currencies (CBDCs). 


Business Case 3 

Final Task: Essay to be submitted to the Instructor within 7 days after the Workshop. 

Course Study Options

Self Study
Online

In Person
Training

Live Online
Training

In Person Training Locations

  • Doha, Qatar

  • Lusail, Qatar

  • Riyadh, Saudi Arabia

  • NEOM, Saudi Arabia

  • Dubai, UAE

  • Abu Dhabi, UAE

  • Manama, Bahrain

  • Kuwait City, Kuwait

  • Ras Al Khaimah, UAE

  • Jeddah, Saudi Arabia

  • Casablanca, Morocco

  • Muscat, Oman

 To find out more about this course, to chat with us about it or to book please click here to contact us and we'll get back to you right away. 

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