If we are to examine what enterprise leaders should know and do about the Metaverse, it may first be useful to define what an enterprise leader is.
Enterprise leadership is acting in the enterprise’s best interests rather than one’s business unit or function.
Under this definition, it isn’t necessarily the CEOs of the largest companies, or highest worth individuals and their businesses that they’ve made their fortune through, but rather an ethos for putting the enterprise ahead of oneself.
Additionally, there are times when individuals can fulfil the role of a good leader for some period only to lose their way later. It appears as if several of the Silicon Valley company leaders may perhaps be falling into this second category.
Many get to the position where their business has achieved its meteoric rise, where equity in the company has been diluted through the various rounds of fundraising and stock offerings and where board meetings can make the strategic vision of the company about responding to market forces rather than realising the early vision of the founder.
Metaverse is a pipedream without an interoperable, immutable, robust infrastructure with built-in value transfer
So, therefore, in the case of the question ‘What enterprise leaders should know about the Metaverse?’, the answer is to do what is right for your enterprise. This might involve being a first mover and adopting various technologies that may be being ignored or resisted by large segments of similar industries.
Without being underwritten by a stable carrier technology which allows for interoperability, immutable records, a robust suite of transactional capabilities, and micropayment capabilities with near zero fees, the idea of the Metaverse is dead in the water.
The BSV blockchain has all these capabilities. Extensible protocols for address resolution (Paymail), relational data structures (Metanet), smart contracting capabilities (sCrypt) and a soon-to-be-released node software architecture (Teranode) ripe for microservices and event-driven architecture all offer significant advantages toward bringing many of the Metaverse aspirations into reality.
Unfortunately, much of the incumbent Silicon Valley and the big tech industry has adopted a parasitic business model of entrapment in walled gardens and with huge silos of user data and abuse their access to it by selling it to advertisers who make your Internet experience much worse. As such, these incumbents feel threatened by a new technology which can completely undermine this business model.
A ‘First Mover’ opportunity for enterprise leaders
A real enterprise leader will not look to develop a business strategy by following what everyone else is doing in their sector but rather would have the courage to try new products, create robust testing metrics to evaluate the performance and adopt what serves them. If this is a completely new technology which no others are using, then a real enterprise leader should consider it an exciting opportunity to develop a first mover advantage. Especially if it gives them an edge in the quality or economics of their provision of goods and services.
An enterprise, therefore, needs to find objective sources of information around the capabilities of various technologies and not fall into marketing hype and promises of future performance or smear campaigns against threatening upstarts.
In the case of the BSV blockchain, in conjunction with extensive consultation from industry stakeholders, The BSV Blockchain Association oversees the Technical Standards Committee which produces well-documented standards that will ensure that innovations you deploy in your enterprise architecture are going to meet the requirements of interoperability and security necessary for developing a seamless Metaverse experience.
Additionally, using authoritative sources of accurate information such as the Bitcoin SV wiki, BSV Academy courses, and the documentation for developer tooling can ensure that you are following best practices and not wasting precious resources using outdated or unscalable methodologies in your development process.
Ultimately as both the idea of a practical implementation of the Metaverse and an unbounded Bitcoin protocol as implemented by the BSV blockchain are relatively new on the scene, there is a lot of work to be done in terms of creating functional libraries of resources and in-house protocols for managing data and payment modalities.
In this respect, an enterprise leader would also extend and accept invitations for collaborative efforts with other builders in the space such that they may realise where non-proprietary work is being duplicated, where avenues for interoperability may exist, or simply opening a dialogue with someone sharing resources they have developed which could save many hours.
Similarly, to build these connections with industry peers, attending events such as the BSV Global Blockchain Convention or other industry-specific events can be a great opportunity to see what technology is being showcased and who are the other enterprise leaders that may be likely to encounter similar problems as your enterprise.
In this nascent stage of the Metaverse and the BSV blockchain, an enterprise leader may well find it to be the case that getting even a simple product to market may involve them developing various protocols and technical standards, as well as a portfolio of intellectual property that could be licensed for an additional business model.
As an enterprise leader in this sector, the world is your oyster.
Your introduction to the Metaverse – eBook
Getting a firm grasp of the past, present and future potential of the Metaverse provides an opportunity for developers, entrepreneurs and businesses to become early adopters.
Download our eBook ‘Your introduction to the Metaverse’ to learn about the opportunities of the:
- The potential of an immersive world for big tech, multimedia software, gaming, art, entertainment, communications, advertising and (insert your industry + vertical)
- What enterprise leaders should know and do about the Metaverse
- What government officials should know and do about the Metaverse?
- What developers should know and do about the Metaverse
