The Web3 space is the evolution of the World Wide Web And Web 2.0’s “Centralised System.” The main word that comes to one’s mind after we think about the world of Web3 is Decentralisation. The Web3 world has leveraged many industries with opportunities that help them market themselves at a better scale. The current education system is earning millions, with almost $1.2tr total revenue alone in the United States in 2021.
Educational institutions have long adopted modern-day’s high-tech technologies, but there is still a long way to go for them to enter the realms of the Metaverse. Educational institutions have suffered a massive setback during the global pandemic, where the universities had to close their physical functioning and switch to online modes. With online teaching, the students ran out of touch with the real-world education system. Grasping complicated topics for them became hard, and the education industry suffered a massive setback.
Thus came along the birth of the Metaverse, and its doors opened to the much-needed education industry. The students barred from attending the universities due to rigid geographical barriers now had the choice to participate in a university that would be a digital twin of the physical universities.
Discussing The Need For Digital Twin Of Universities
As stated above, universities have long functioned with brick and mortar and slowly paced towards adopting technologies. The digital twin of a university in the Metaverse will undoubtedly pave numerous pathways to revolutionise the education industry. The need to build a university’s digital twin won’t depend on eliminating geographical barriers but on the understanding that the human brain’s retaining power is just 5% when reading and 75% when learning in an immersive virtual environment.
The digital twin or the virtual university will serve as the ideal mode to let go of the traditional desk and chair method of studying and passing the examinations and bringing a much-needed change in the patterns of imparting education, different from the conventional norms. The virtual university will be a mix of virtual reality and other cutting-edge technology solutions that will positively change educational institutions. The Web-3-powered Metaverse will not just be limited to torso avatars interacting in a virtual world but much more than that, providing the best upgrades in the years to come.
Applications For Opening a Virtual University
The opportunities for the students in a virtual university are fresh and wider than the conventional systems before. The students can let go of fiat money and deal with crypto-assets directly in the web3-powered virtual university. The virtual university will also allow the students to explore a dozen virtual locations through the Metaverse.
The metaverse education will be for all, and no amount of partiality will affect the advances of meaningful growth. The students located in far-off corners can find solace in the virtual university at every step of their educational journey. Not just geo-barriers, the virtual university students will be given proper education, which is a plus point for students with certain disabilities and disorders who have difficulty adjusting to the university’s atmosphere.
The education imparted on the virtual platforms will undoubtedly be highly consistent, with no room for a stoppage. This is the power of a blockchain-inspired virtual world that will barely stop due to bugs or server issues. The world has already witnessed a temporary crash of the famous Web 2.0-based apps like Youtube and Instagram. This problem is unlikely to occur in the Web 3.0 space as the technology that governs it is Blockchain technology. Thousands of computer networks backing this technology spread globally and are likely to crash simultaneously.
The best advantage of starting a digital twin of a brick-and-mortar university is the fair assessment that it will offer. The Blockchain Identity Management system is the technology that will help the virtual university’s administration catch fraud or cheating consistently.
This will provide a fair assessment environment to the students, and the competition in the university will be healthy and free of doubts.
Powers That Will Govern A Virtual University
Web-3 space is powered by robust blockchain technology that runs on a distributed and decentralized ledger that stores all the records of data ownership and digital assets.
Blockchain technology does not let a third party interfere in the functioning of any of Web 3’s processes.
AR/VR and IoT
Web 3 is the evolution of the World Wide Web that holds several technologies together inside a single umbrella. AR/VR are technologies that create the basis of a virtual world and can be best experienced through a VR headset that will provide an immersive environment to the one experiencing it. The Internet of Things is also the future of modern-day tech hacks as one still uses a light switch or remote control to operate certain things; in the future, it can be done by mere voice commands or through the taps of our cellphones. Though many devices now provide this feature by working on this technology, this technology will surely reach skyscrapers in the future.
The smart contracts in the web3 education space are responsible for safeguarding crucial data in the present-day blockchain ecosystem. These smart contracts are specially coded to set certain conditions for decentralized transactions without third-party interference.
Cryptocurrencies carry out transactions in the Web3 space.Web3 crypto offers a wide range of services cloud providers provide, like computation, storage, bandwidth, and identification while hosting various services. The tech experts are working on Web3 and Cryptocurrencies to make them more efficient and secure. When mentioned together, they refer to their decentralized and third-party-free nature.
Noteworthy benefits of Developing a Digital Twin or Virtual University in Web3 space
Indeed this benefit resembles the play-to-earn model that web3 enthusiasts are aware of. The learn-to-earn model is somewhat based on the same concept, and the university student can fairly use this mode as an opportunity to bag awards in a very positive way. This learn-to-earn model will surely motivate the students to perform better and somewhat lessen the burden. The learn-to-earn model will reward university students with crypto that they can store in their wallets that will be attached to their student dashboard every time they enter the virtual university. Also, financially weak students can use this mode to attain scholarships and, in some cases, free education.
The virtual university will be strict followers of efficient time management. This will help the university be true to the circulars they release and not take too long to carry out the normal university functioning procedures. The declaration of results and admission of new students will all be timely done. This effective time management system will be an ode to future education enthusiasts looking to start their virtual platforms but stumbling on the minor risks that follow.
The cost efficiency is also very high when we talk about virtual universities. No doubt, the new age high technologies are rather expensive, but when we talk about building one from bricks, the cost that goes into that is much higher. The one made with brick and mortar might not be strong enough to stand the natural calamities, but the one structured through blockchain will stand till eternity.
The NFTs are nonfungible tokens that are an essential part of the Metaverse. The NFTs are beyond cryptocurrency limited to Bitcoin; they are a whole new world of art combined with technology that is unique and has proof of ownership. The NFTs is possession, and the trading, bidding, and selling of these rare and unique NFTs can be done in millions. While making a virtual university or a physical university’s digital twin, NFTs can be embedded in the form of customized avatars. Every student in the virtual university will possess an avatar that can be customized as per their wish. The students can have the ownership right to this customized avatar and trade these in the form of NFTs.
Some Essential Features Of The Virtual University
The virtual rooms in the digital twin of a university are the main feature of a virtual university, as this is where the university’s classes will take place. The virtual rooms can be examinational halls, conference halls, and cafeterias. The students can easily access these virtual rooms through their unique student IDs or passcodes and leverage advanced education like never before.
Blockchain Identity Management System
The Blockchain Identity Management System was the need of the hour for almost all educational institutions to evade fraud and cheating completely. This identity management system will govern with biometric scans and can easily catch fraud. Also, the secure Blockchain network will prevent loss of identity and detect any possible errors that a physical institution might fail to notice.
Students can leverage the virtual university to customize their avatars and dress them up according to the university’s dress code or per their choice depending upon the educators. The students can also use their avatars as NFT and sell them to reveal hidden rewards. These avatars can locomote around the entire virtual university campus and leverage the perks that a digital twin of a physical university is set to offer.
A space to carry out virtual events
The virtual university can also increase its ROI by providing a passage to let some sponsors into their campus. These sponsors can put their ads. On the virtual university’s notice board and let brands market their products while increasing the revenue charts of the university itself. Large campus events and conferences can be carried out in the digital twin of the virtual university.
To wind up, the virtual university is the reformation of present-day education. It will open up many pathways for students not looking for quantity but quality education. The virtual university will also concentrate on the future of students who have completed their education tenure by offering them guidance in their choice of careers. The time for the reformation of the outdated education system is here! This is the time for a much-needed change where inclusivity will prevail, and fair chances will be available without discrimination. Thus the future of education is here in a virtual space and the right time to access it is now!