The metaverse is there. Is Metaverse Bank still a long way off?

In 2021, the metaverse has become the hottest word in the world. From the rise of capital to new heights in the theory of thought, to the entry of the giants of technology…, transformed into a metaverse.

So what is the concept of a metaverse?

Already in 1981, the American computer science professor Frovich discovered a virtual world accessible through a brain-computer interface and had the ability to blindly experiment with the new science fiction.

In 1992, the famous American historian Neil Stevenson described the real world in his short story "Avalanche" and gave it the nickname "Metaverse". Here, humans were controlled by digital avatars and competed with each other to promote their events, which now seem to describe the futuristic world ahead of its time.

The metaverse stream should be a real world map, interactive, interactive and meaningful in the networked virtual world that exists in the real world, a series of augmented reality (AR), virtual reality (VR) and the Internet. In this world, users can have a unique virtual identity and can chat, have fun, do business with other users, and complete tasks together. The metaverse has six characteristics: persistence, real time, compatibility, economic power, connectivity and creativity.

According to the report, the metaverse market size will reach $ 800 billion by 2024. And PricewaterhouseCoopers estimates that the metaverse market will reach $ 1.5 trillion by 2030.

With the advent of the metaverse wave, olfactory banks have seized the opportunity and are starting to take an interest in this area.

On December 27, 2021, Baidu, founded by Xiyong, announced the launch of the first metaverse product in China. The Hebei Xiongan Branch of Commerce and Industry of China "launched" in Xiyong as the first financial company, Xiong'an said. The grand plan of "One Year Plan for National Standards" has become the voice of ICBC's "Creating a Future Financial Society in the City of the Future".

On December 30, 2021, Baixin Bank held its annual Media Open Day event at its CCTV studio, announcing Bank of the Future's research findings and recent achievements. At the meeting, AIYA, the first virtual digital operator, joined Baixin Bank at the event, became the "AI virtual brand manager", and had a special "superdimension" with the cat Xiao C, anchor digital CCTV network.

On January 6, Jiangsu Bank announced that it had started to implement financial interventions to provide better services to consumers by integrating research and decision-making to improve online finance and the concept of digital finance with its own strengths. financial aid.

Some commercial banks are also motivated by the metaverse market by looking to foreign countries. For example, last October, Bank of America, one of the largest financial firms in the United States, announced that it would begin training in VR skills at its 4,300 financial institutions. , and said about 50,000 employees will learn to use VR equipment. Perform daily tasks and participate in various customer discussions that employees face on a daily basis. BNP Paribas also announced a virtual reality-based application that allows consumers to access their accounts. Kookmin Bank is launching a "virtual city" on the metaverse Gathering platform in June 2021. These include financial institutions, communication facilities, parks, game rooms where customers come to ask questions about business and various activities; and class discussions.

The concept of Metaverse remains unclear, and there is a perception that the development of financial companies at present is just a gadget industry, and VR, AR software and hardware applications are included in the Metaverse to help banks provide services to their customers. wonder how it will work. Improving services and improving business and customer satisfaction will streamline the digital transformation process for financial companies.

However, it is clear that the emergence of the metaverse will provide people with an ecological picture of the future and become a new source of digital innovation and market expansion. . Seizing this opportunity, financial companies are focusing on digital business, pursuing digital research and innovation, and providing simpler financial services, in an important way that is now unproblematic.

The metaverse period has begun. According to the concept of metaverse social networking, a large group of young people can become the future growth engine of the financial services industry, and whether the "metaverse bank" will soon It has become a new concept and has become a challenge on the financial markets.