The Metaverse and Web3 dominated discussions on the fifth day of the ongoing World Economic Forum (WEF).
The panel discussion “The Possibilities of the Metaverse” featured Philip Rosedale, co-founder of High Fidelity; Pascal Kaufmann, founder of Mindfire Foundation; Peggy Johnson, CEO of Magic Leap; Hoda AlKhzaimi, assistant research professor at New York University, Abu Dhabi; and Edward Lewin, vice president of Lego Group.
The main discussion revolved around the building blocks and prospects of the Metaverse. The panelists discussed the technical aspects, security and role of human sentiments in building a sustainable, augmented reality-based digital world.
Responding to a question about developments around the Metaverse, Johnson said that the building blocks are in place. “It is in the early stage, but innovation is certainly progressing towards a digital future,” she said.
Johnson went on to cite the use of augmented reality in the medical field and predicted that the Metaverse would make complex jobs easier across different areas of work.
Lewin talked about building a future for children in the Metaverse. He said:
“One in three people using the internet are young adults and children, so I would really focus on building from kids’ perspective, given they are the future users.”
Lewin went on to add how augmented reality can change the way children learn today, citing the example of a volcano. He said that learning about a volcano through a two-dimensional book and seeing it in augmented reality are two vastly different experiences, adding, “it could be a great way for learning for future generations.”
AlKhzaimi believes the metaverse will be a place of “interconnectivity for knowledge and resources.” She also stressed the need to rebel against the current systems to build a formidable digital world, saying:
“We need to rebel against the existing technological system, be it the current computer codes or rules to build a formidable metaverse.”
Kaufmann said the Metaverse will be inclusive and disruptive, while adding that it will be a place for revolutionizing science.
The panel agreed on the need for building a place that prioritizes the privacy and security of individuals and allows them to be whatever they want to be.