In the not-so-distant future, virtual and augmented reality will become commonplace in all aspects of life. Imagine a world where you can fully immerse yourself in a game or take a virtual trip anywhere you want. This future is possible through decentralized technologies and blockchain technology.
The two share similar core principles such as decentralization, trustlessness, transparency, security, and immutability. According to Coindesk, “Blockchain could enable the digital transformation of government by streamlining services and eliminating middlemen while also promoting greater public access to information.”
Therefore, it’s no wonder that Web3 — the future of blockchain-based software services — has attracted many people from various industries towards the digital twins.
Seoul to become the first city to enter the metaverseWhich is the first major city to join the metaverse?
What is a Digital Twin? Let’s Know More
A digital twin is an AI-powered, 3D model miming a real-world environment or asset. It will help us optimize our cities and how we live in them by giving us an accurate model of our cities’ energy usage, traffic patterns, pollution, and water consumption. A digital twin creates a layer to model your cities’ systems (physical, environmental, social) digitally. It allows you to explore cities exist in Web3 with a VR/AR headset and experience your city like never before. Essentially, it’s a holistic view of a city that uses sensors, AI, IoT, and Big Data for a more holistic view of a city.
Blockchain in Web3: A New Architecture For Modern Cities
Several Web3 architectures are being proposed to create a digital twin of cities in Web3, but Hyper-decentralized architecture has gained the most traction. It focuses on the need for scalability and security by distributing data across many nodes in a network. However, issues with this architecture include latency and a large energy footprint. To solve these issues, researchers have proposed an alternative architecture called the Blockchain-based Decentralized Architecture. This architecture uses blockchain technology to address the problems of scalability and security for Web3 applications by using off-chain state channels to store data and a new consensus algorithm to enable fast transaction times.
Blockchain and Web3’s Effect On Cities
Urban environments will see the transformation from the ground up, as blockchain and Web3 technologies can transform how we consume energy and build and operate our transportation systems. In addition, a new architecture that uses blockchain technology to address issues of scalability and security for Web3 applications will enable us to optimize our cities’ governance and operations through decentralized applications.
These decentralized applications will create new ways of governing our cities by bringing all stakeholders (citizens, government, and businesses) together to optimize our urban environments. Using blockchain-based decentralized applications, we can reimagine how we build and construct our cities, consume energy, and approach transportation.
Problems With Current Smart City Initiatives
Some things need improvement in existing smart city initiatives. One prominent issue is that citizens need more control over their data. The data collected from smart city initiatives should belong to the citizens, but it often ends up in the hands of third parties. Another issue- data generated from smart city initiatives stay siloed and not interoperable. This makes it challenging for people to use the data generated from smart city initiatives. Another problem is that centralized authorities are often responsible for managing these initiatives. This becomes problematic if the centralized authorities experience a security breach since all data collected comes under the risk of exposition.
Blockchain Use Cases For The Urban Environment
These are some ways that blockchain and Web3 can transform our cities: –
As mentioned previously, the data generated by smart city initiatives currently belongs to centralized authorities. Blockchain-based decentralized applications can help shift data control to the people by allowing citizens to control who has access to their data and how they can use it.
Data generated from smart city initiatives need to be more interoperable, making it challenging for people to use the data generated from them. Blockchain-based decentralized applications can help create a data layer that unites all data generated from smart city initiatives.
Trust is an issue when centralized authorities manage intelligent city initiatives since these authorities can potentially be hacked. Blockchain-based decentralized applications eliminate this problem since they are based on trustless protocols where no single person or organization holds all the power.
Blockchain’s Role In The Digital Transformation Of Cities
Blockchain has the potential to change how cities operate. This is because it can help to reduce costs and provide greater transparency. It can also help to increase efficiency by allowing people to share data more efficiently. As a result, this could lead to significant improvements in public services. For example, it could help to reduce fraud by allowing people to verify the identity of others.
It could also improve the speed of transactions by reducing the time needed for authentication processes. Overall, this has the potential to transform how cities work. Improving efficiency and providing greater transparency could make cities more attractive for businesses and residents. It could also positively impact the environment by helping to reduce waste and pollution caused by transportation systems.
Blockchain Uses Real-Time Data For Better Urban Planning And Operations
The blockchain, as a distributed ledger, records transactions across many computers. It is used in several sectors, including finance, government, automotive, and healthcare. In addition, real-time data collection and analysis are becoming increasingly important as cities face challenges like urban sprawl, traffic congestion, and climate change.
The key to solving these problems is better urban planning and more effective operations. For example, blockchain technology could collect real-time data from sensors such as smart meters that monitor traffic conditions and air quality.
This information could then be used to adjust city policies and improve operations. In addition, the blockchain can create a digital identity for every person living in a city. This enables cities to track residents’ movements and provide them with services like garbage collection or public transportation. Ultimately, blockchain technology could help cities become more sustainable and livable by improving efficiency and transparency.
The Importance Human-Centric Digital Environment In Web3 Cities
The human-centric digital environment is a term used to describe the digital world that is created and controlled by humans.
People play a major role in creating, controlling, and shaping the digital environment. The human-centric digital environment is typically characterized by the presence of people and their interactions with the digital environment. This digital environment can be further distinguished into four main categories:
- Human/human interactions.
- Human/technology interactions.
- Technology/technology interactions.
- Technology/people interactions.
The human-centric digital environment allows humans to interact with each other and with technology to enrich each other’s lives. It increases social connectivity and allows for more trust in general because it will enable people to communicate with each other openly and transparently. The human-centric digital environment also enhances productivity by enabling people to focus on their tasks instead of constantly checking their phones or email inbox. Finally, improving the quality of life allows people to access information at any time without worrying about whether they will have access to the internet.
Top 10 Web3 Cities in the World That Exists Virtually
The guide has covered the impact on the cities and how it can improve the cutest ecosystem. Now, let’s look at the top web3 cities that have taken this implementation to the next level.
Web3 cities are on the rise, just like the virtual currencies and decentralized applications (dapps) ecosystems. While many cities worldwide have seen an increase in blockchain and crypto startups and investments, a few have risen to become the top Web3 cities in the world.
The list of the top 10 Virtual Cities in Metaverse
- Singapore is now home to a number of key players in the metaverse
- Beijing has unveiled a 2-year plan for the metaverse
- Shanghai Announces Action Plan to Develop Metaverse
- New York’s Times Square To Be Replicated In Sandbox
- Dubai to become a global metaverse hub
- South Korea’s coastal city, Changwon has announced plans to build a digital version of itself in the metaverse.
This English city is home to many cryptocurrency and blockchain startups. As a result, it has been dubbed the “crypto capital” of Europe and is one of the most famous destinations for conferences and meetups.
As one of the most advanced economies in the world, Tokyo is a hotspot for new technology. The Japanese capital has a thriving ecosystem of blockchain and cryptocurrency startups and several large cryptocurrency exchanges.
3. New York City
It is home to Wall Street and Silicon Valley, calling it “Cryptohattan.” In addition, new York City hosts numerous conferences and events each year, including Consensus 2018 this May, where hundreds of companies will be present.
|S. No||Metaverse City||Description|
|1||Singapore||A number of important people in the metaverse now live in Singapore. Vizzio Technologies has a long list of government clients in Southeast Asia. Their patented technology makes digital twins of cities that look very real.|
|2||Dubai||Dubai’s ambitious plan for the metaverse includes bringing in 1,000 companies related to the metaverse and creating more than 40,000 new jobs in the field by 2030.|
|3||Seoul||The goal is to have Seoul join the metaverse by 2023. The plans show how this new virtual universe could change cities in South Korea and elsewhere in the future.|
|4||Singapore||The Metaverse is Ready for 80% of Business Professionals in Singapore|
A global study by Ciena asked business professionals what they thought about using more connected and immersive digital platforms at work.
|5||Shanghai||At the end of 2021, Shanghai announced a plan to use the metaverse for both public and private purposes over the next five years.|
Seol will be the first city to join Metaverse. Seoul is joining the metaverse, and they aim to do it by 2023.
4. Saudi Arabia
Blockchain technology and decentralized applications will heavily influence our cities’ future. A digital twin of our cities will give us a holistic view of our urban environments that we’ve never had before. Moreover, these digital twins will help us optimize our cities by bringing all stakeholders together to create a more sustainable environment.
When most people think of web3, they imagine the modern internet. However, the internet is just one part of a larger world of web3 – it refers to the intersection of the internet and blockchain technology.
There are two types of web3: decentralized and centralized. Decentralized systems allow users to connect directly with each other and with third parties as needed. On the other hand, centralized systems stay in control of a single entity. As a result, decentralized systems act more open and democratic, while centralized systems often work more efficiently and securely. It’s important to recognize both types when thinking about the future of web3 for the digital twins and the web3 cities.
But what makes a city truly web3? For one thing, it has to use IoT and the internet somehow. That can mean that it’s a significant technology hub or has decent WiFi access points. But it also means that it’s willing to embrace new technologies such as blockchain and cryptocurrency. In short, it must be open to new ideas and willing to adapt as necessary.