The University of Tokyo, also known as Todai is set to offer a range of study programs later this year that will take place in the Metaverse.
According to a Saturday report from the local news outlet The Asahi Shimbun, the courses will be offered to students ranging from high school to adult learners in the workforce.
The publication stated that the Metaverse study programs will not be delivered via its own dedicated faculty that offers degrees but will instead operate under Todai’s faculty of engineering and engineering-related graduate schools. Students who complete the courses will receive certificates.
Todai’s project has been launched to address the lack of skilled personnel working on “digital transformation” and “advanced technologies.”
University officials also emphasized that studying in the Metaverse will also create a situation in which “anyone, regardless of age, gender, social standing and area of residence, can learn about engineering and information science.”
Crypto and nonfungible tokens (NFTs) weren’t mentioned specifically, but considering the sector is often associated with the Metaverse and boasts a number of popular metaverse brands, there is likely to be some mention of blockchain-based platforms.
For junior-high and high-school students, they will receive an introductory view of the space, along with learning about the potential roadmaps to find work in engineering, science and other related fields. They will receive the content in a mixture of online and face-to-face lessons.
University students and those already in the workforce will be offered opportunities to reskill/upskill via related online courses focused on artificial intelligence (AI), next-gen communication tech and entrepreneurial education.
There will also be a push to attract more women to study the programs, as the lack of female representation in engineering has been identified as an issue.
The Japanese Metaverse
There have been some notable applications of the Metaverse in Japan over recent months, as local citizens find interesting use cases for the technology.
On Monday, Japan Today reported that a support group from Fukuoka named the JACFA launched a virtual support room in the SecondLife Metaverse platform. The group specifically works on re-integrating Hikkikomori — reclusive people that essentially refuse to leave their homes — back into society.
The problem has been highlighted as a big social issue in Japan, and the idea is to enable Hikkikomori to receive initial help without the pressure of being face-to-face.
In April, it was also reported that 3,800 students from a total of 29 trade schools such as beauty, sports, technology, hospitality, etc., under the NSG College League in Niigata, held their 2022 commencement ceremony in the Metaverse. The event was hosted virtually to allow everyone to easily attend without facing the risk of getting COVID-19.
The Bank of Central African States, or Banque des États de l'Afrique, which serves Cameroon, the Central African Republic, Chad, Equatorial Guinea, Gabon and the Republic of the Congo, could be closer to releasing a central bank digital currency (CBDC) reportedly at the urging of its board.
According to a Friday report from Bloomberg, the board sent an email calling for the regional bank to introduce a digital currency in an effort to modernize payment structures and promote regional financial inclusion. The Central African Republic, or CAR, passed legislation adopting Bitcoin (BTC) as legal tender in the country in April but has not recognized a central bank digital currency.
Nigeria’s central bank was one of the first in the region to launch a CBDC called the eNaira in October 2021, while South Africa’s Reserve Bank continues to explore the possible use of a CBDC through its Project Khokha initiative. The Bank of Central African States also criticized the CAR for accepting BTC as legal tender, calling the move “problematic” and something that could have a “substantial negative impact” on the monetary union of Central Africa.
Sub-Saharan African nations could face significant challenges introducing cryptocurrencies and CBDCs to areas with limited access to electricity, both for transfers and mining. According to 2020 data from the World Bank, the CAR and Chad both rank among the lowest percentages of the population with access to electricity, at 15.5% and 11.1%, respectively.
Following its adoption of Bitcoin, CAR President Faustin-Archange Touadéra announced in June that the country would be adopting a crypto initiative called the Sango project, which included a “legal crypto hub” and a special economic zone in the Metaverse. Africa remains one of the fastest growing digital asset markets in the world — Cointelegraph reported in March that crypto transactions had increased by up to 2,670% year-over-year in Côte d'Ivoire, Senegal and Dakar.
It’s a widespread sentiment for people outside of the crypto community to look at Bitcoin (BTC) prices and conclude that it’s too late to get into crypto. However, a report shows that the industry is still at the beginning phase of the adoption curve.
In a joint report published by Boston Consulting Group, Bitget and Foresight Ventures, data shows that crypto adoption is still very low compared with traditional investment assets. According to BCG, only 0.3% of individual wealth is invested in crypto, which is incomparable with the 25% put into equities.
The report concludes that the shallow investment penetration means there is still a lot of room for more substantial growth and adoption within the crypto industry.
In addition, the report compares the internet’s adoption curve to reach 1 billion users with current cryptocurrency holders and Ethereum addresses with non-zero balances. The report mentions that "There is plenty of growth to come."
By comparing the data, the researchers predicted that crypto users may reach 1 billion by 2030 if the trendline continues on its course.
A recent market report by consulting firm Verified Market Research predicted that the nonfungible token (NFT) industry’s value might shoot up to $231 billion in 10 years. According to the report, the sector may continue an annual compound growth rate of 33.7%, with music, film and sports identified as drivers.
On the other hand, a report from McKinsey & Company reported that the Metaverse alone could be valued at $5 trillion in 2030. The international consulting company surveyed consumers and companies across various countries and industries to identify patterns in consumer behavior. According to its findings, e-commerce will be driving the cash flow within the Metaverse, making up to $2.6 trillion in revenue by 2030.
This Daily Dose was brought to you by Cointelegraph.