According to you, what are the different benefits of using metaverse?

Anyone can start and you can take. What are the different benefits of using
metaverse for organizations or for consumers?
So reduced infrastructure, reduced infrastructure, cost and enhancing
experience with it can be one of the benefits.

With the rapid changing one word and so much of time crunch with the
people, it would definitely be a benefit for consumers in the coming future.

With respect to visualization, the way once realize or visualizes the how we
want certain things to be arranged with matters, we can achieve that.
Increase network wherein people from various parts of the world can talk,
talk, or discuss on various topics at the same time.
Other people have.
I believe that one of the benefits regarding the Metaverse is that you don't
need to have a physical presence in order to attend a meeting or a chat
room in that kind of setting.

Now I think that there are a lot of things which is not easily accessible to
like mask people, but with metaverse it can be easily accessible with for
them.
It will be cost effective and actually we don't need to start showrooms like
we can when we when we can try try on. All those things.
So if there are certain benefits as well, there must be some cost of or some
risk. For certain, according to you people. What are the risks associated
with metaverse from different perspective? That if you have.
Privacy issues which will arise when we have to like give our data. And we
are trying on. We are like giving and our all physical.
Various intruders. Cyber crimes and various intruders who try to
manipulate or like change your data and affect your functionalities and.
Metaverse is depended upon the virtual currencies. Too much reliability on
that, since we know that currency is highly volatile, so too much reliability
would be having the risk on. The financial inclusions.
Reduced human touch to the.
Did on the similar lines of what he mentioned, it's an abstract thing, but
once you are virtually interacting only you lose the sense of your being and
that sense of your.
Since Metaverse is a fairly new technology, it requires a large amount of
bandwidth in order to operate it.
I think a lot of people are yet not adjusting the digital world, so getting
their them acclimatised with Metaverse is gonna be a bigger job. So it's like
that is also problem with metaverse at this point.
And as it's a new technology, made a lot of realistic data to train the models
and to implement it.

There was this one scenario where there was one couple in I think Chennai
mean not they wanted a themed wedding and they wanted a Harry Potter
themed wedding and that was happening in Metaverse So what happens is
if you're relying too much on this virtual digitization in reality we cannot
achieve those. So too much of reliability will definitely hamper the way
they. Have psychological processes.

We understood. Benefits and risks associated with metaverse. Now I want

you people concluding remark. With what is the? Future you are seeing the
metaverse in India. In terms of. Opportunity and challenges. So, with your
concluding one, please. Let us know. That what are the future challenges
and growth? Perspective in Indian context?

So considering Indian sentiment, it might be very difficult for people to

adapt to this technology specifically in few sectors. For example, in
healthcare sectors we have trust issues as our sentiment, and we might not
be able to rely on the. Professionals who have been trained virtually. We
might have that trust factor is what I think.

In addition to it, there is a lot of potential and growth in the retail sector for
metaverse as people would be even more willing to buy from matters and
see and experience the environment that matters is like. Giving so.

Sir, until there is a digital literacy penetration towards the until the
grassroot of our entire economy and probably might hours won't be that
reliable till the end.
And no.
Yeah so.

Operating Metaverse also requires a sophisticated hardware, such as you

know. The VR headsets and all, and currently the Indian market isn't. You
know that inclusive towards the VR market as we can see, there's hardly
any hardware provided by HTC or Oculus. So that is one conclusion
regarding how India is geared towards the metaverse.

In my opinion, Metaverse has a lot of potential like the hospital sector will
have a lot of patterns in their facilities, but at the same time, just like Vivek
mentioned, like having them in our, incorporating them in our daily life
with the Indian mindset will be very difficult. So as of now, it's a huge
long, long way for meters to go to penetrate in Indian market.
So what I think is metallosis is actually a good thing, but the cons are like
the privacy issues and the psychological issues which will come with that.
Mainly like we know, like how smart smartphones are affecting our lives.
Like when Metaverse comes it will be much worse when psychologically
taken. So we have to take precaution. That way.

In addition to what Bloom said, providing hardwares and softwares it like

there will be a cost associated with hardware and software associated with
metaverse. So it should it should be cost effective also. And if we see the
Indian market so.

What are the different benefits of using metaverse technology? In general

life. One can start and then after.

As you mentioned that you know you can be present. At multiple places
and you know can deliver lectures or probably be omnipresent at various
places and still do your. Work so that is one part and you. Don't have to be
physically be available everywhere. So that is 1.

Thing, well, just like COVID came and went right so many pandemics.
Still around the corner I think, and at such times I think metaverse will
provide an escape so you don't have to leave the comforts of your home or
even interact or socialise with other people. You can just stay in your room
and still continue doing all the activities.

Like for multinational companies where the meetings are held from the
executives of some different countries so they it is not needed for them to
gather at one place using metaverse technologies like 5D and all that are
coming. They can have the experience of the of the offline mate only using
that. Online kind of more because that kind of technologies are being
builded up, and some are also being used nowadays.

OK the.

When we incorporate Metaverse, I think the socialising aspect could be

greater right now in the virtual world. He might sometimes it's typing or
there's a problem of video call also. So there is a problem of interaction
between different social cultures different. Societies have different norms,
so it will be much easier for people to interact with other people. Get the
perspective of different people, and I think it would create a much more
global view in the minds of other. Everyone using the metals, that's.
Let's first understand what metaverse and how this word come into the
generalisation. So Metaverse was it's simply a mixture of two words, meta
mix, multi Andwas, Miss Universe. It was first introduced in 90s by writer
who wrote a book on it. In that book, he just showed the demerits of. For
that, how these metaverse in which a person can isolate themselves from
the others, and how society will become? Future at that time it was this
thinking was right because the society was not of this kind. But after a
century we are already isolating ourselves like we study alone by YouTube
and other apps, we are purchasing things shopping online by the online
things. So if we are. All are included in this thing then why not to advance
this thing and why not? Advance the quality of this thing and to feel the
most beneficial thing of all this. So what the meta did they want to make a
proper universe in which you can see or do everything what you can do in
your life without doing it in the reality. The virtuality of the real life. So the
most beneficial of that matter is the only one to one the profit. So how they
can? Non profit they can earn profit by advertising by giving you the
experience by selling things you can take a proper view of any mall. You
can go eat and you can eat things. You can purchase things back of any
brand. You can try it on your avatar. And that's how the brand will also get
the benefit of it. The Meta also gets the benefit of it, and you are also
getting the benefit of it, so eventually it is a win win situation for everyone
of us. So that I think that it is one of the biggest achievement. If it will
become successful. So if we talk about Hive so eventually everything is the
hive. So when it is not come into the generalisation at once, the tube is also
was also a hype. People thought that Orkut will never it will never surpass
Orkut but it was a time when the. The YouTube or say the Google try to
purchase the code, but the efficiency of that is so much so that they
declined the offer so. It is not a hype. It will do great in. The future thanks.

So actually this is like this. 5G and web three web three came, so those two
like 5G are also coming web. Three are coming, so I think after the.
Introduction of IG. This metaverse I think it will be much more easier
because the introduction of the high speed Internet can facilitate metaverse.
Eric, this was first introduced on the gaming platforms basically so then it
started. Then Facebook started investing more on that recently. This is a.
Metaverse was like eventually got into every high after this Mark
Zuckerberg and Nika session had a like how the Metaverse work. They had
a like video conferencing so that classroom session was very actually. I got
to know from there so it was very interactive and like we were also able to
create our own avatar and we could sit in any of the. Person who are taking
a class. So I think it can have a benefit in the future if this. Internet and this
the three comes into more generalised generalised so this is not like
infinities an eye, but I guess it will be. It will be much part of our reality
sooner.

Very good.
If not, I wanted to know one thing that definitely where there is some
benefit there. Are certain risks associated? With it, so according to you.
People, what are the risks?
Different risks associated with meta worst technology.

Mental harassment is one of the. It is what it was, a case. A few months

ago when in metaverse platform man tried tried to harass her movement
and the woman filed a case. In that thing. So these type of mental
harassments are mental anxiety. Depression things can be a cause of this
thing. So basically, not physical anything like you are sitting alone at your
home. There is nothing physical harm, but yeah, mental harm is also one of
the. Disadvantages of it?

Well, I think it's maybe if. What the people who? Try to create the
metaverse actually get to that point of creating it to that level. We might.
Be able to lose touch with the reality. So people will be much more
comfortable in being in a virtual mode in being, and because they could
customise their virtual self it will be people will start to, you know the
degrade their their own self and they would start to modify or. Amplify
their virtual self and I would try to be in the virtual world more than the
the. Real Volt and I think a very dystopian outlook if we try to look at it.
There's a movie called The Matrix in there. It's not shown as a metaverse,
but there was a concept of the human beings living in a virtual society.
Now, even if there was a bad guy. Somewhere in there at the end of the
day, he knew that it was a virtual world, but still they would like to go into
that world by saying that ignorance is. Less so they would like to face good
things in the virtual life than to face the bad things. The things that they
don't like in the real world. So I think that would create a problem in other
people.

First of all, there is proper no government standards for this, so we can

never predict what like if some if there is an harassment case so we can
never file a case because there is no proper standard. So that can be a very
good criticism. If I if I could point out, then next one is that most of the
topic. If they are trying to incorporate this. Towers or the classrooms. The
proper infrastructure is not there or all around the. If you see, like most of
the like developed countries can afford but the like the hardware part of it
that we are or are and hologram structures. If you are trying to install these
very costly affair so the cost benefit analysis to be done and I don't know
whether it is beneficial it can be.
Sir, it is that kind of decided that it is going to be used with blockchain.
People are nowadays not so aware of blockchain. We have to make people
aware of blockchain and tell them how to use it at the cryptocurrency. Part
has to be known to the public or there is a high chance of theft.

I don't think I will do good on the technological part, but sneak speaking
emotionally. Actually, metal sounds like a very very sad concept, like I
don't know how many of you have seen the movie. Wally, but. And that
there is a scene where everything is virtual. They don't even leave their
chairs, but when they actually leave it, when they actually, you know,
touch the ground. That is what happiness is. That is what actually? So
whatever might make your life easier. They might make it more
comfortable, but there is. Actually, no point.

Yeah, as she mentioned that the human touch itself is, it will be lost. You
know eventually if we go ahead with that technology and another part is
the regulation. The government regulations are not there. They are not
quite good regulations too. You know, to at least keep that space in a very.
Right manner the the platform should take the accountability of whatever
that whatever is happening on that platform itself. They shouldn't be like,
you know, putting their hands out of it of anything that happens there. So
that is one of the things the platform itself is taking any action. Regarding
that or you know, any mishappenings happening there, so there should be
someone to be accountable for that actions. Yeah, that's it.

Yeah, so we will conclude this FGD and you have to just give your
concluding remarks on that. What is the future of metaverse in Indian
context? What are the challenges, opportunity and what could be the future
roots of this? So your concluding remarks with this question, that what is
the future of metaverse in terms of opportunity and. Fits in Indian context.

Yeah, so the future. I guess it's still evolving. There are too many parts that
are yet. To come, you know. There are few, many people are not aware of.
The technology is also so you know it will. Take few few years as we.
Took for any other technology we usually take, you know, decent decent
amount of time to, you know, get equated with it and you know. Spread it
all over, along all across the. World so you know, I think that is one of the
factors and another part is it's obviously beneficial. There are benefits
devices as well, but you know you have to adapt to that. And as I
mentioned, there should be something that saves us from any thing that is
that might go wrong. So that is 1.
Part yeah, just like Akshay said, it's we have to adapt to it. Metaverse is
inevitable. And it's coming, and the whole world will be grouped in it. But
it's just how you know how consumed you are to it.

There are advantages and disadvantages to all the things, and that is the
case for Metaverse also. But Metaverse is going to make the life easy for
each and everyone of us. And as India has a good kind of technologies and
today also so it is not so difficult as compared to third world countries.
Adapted into our country. But people should be made aware of these kinds
of things and some kind of rumours are also spreading around it, which
should be removed so that it is easy to adopt cryptocurrency and
blockchain should be first made to the public, easy to use and they should
be made aware of its advantages. The NFTS and all also should be made.
People should be made aware of it, because blockchain and NFTS are the
main foundations and they are going to be the main foundations of metals
also.

Well for India I think Metaverse is still a far fetched concept because we
are in a stage where a lot of people are still not very regularised with the
concept of using the Internet or having the advantages. Of the network of
the global network using that global network to the full extent, we don't
even have people who know how to search in a Google. That's a big
percentage of India, so incorporating metaverse would definitely be a
challenge. Yeah, first we have to incorporate the Internet into the Indian
lives in the Indian individuals. And then there could be something greater
than that. And the next thing is the any anything when we incorporate it
into the everyday life of human beings, we need the society. The
government who is handling that. Society to be regularising the all the rules
and laws of that place and right now the Indian government is not actually
looking at that direction. They are looking at digitised. Location mostly in
the views of financial aspects and other aspects, but not right at the virtual
life aspect. So I think right now in the next two decades or three decades it
will be somewhat a concept in India. Some people, maybe 510% of Indians
will use it, but apart from that people will still be using the net and the
physical contact mode much more than that.
So the technical thing is that the India is emerging a lot in the IT sector, so
I don't think there's a problem with the youth. We are more more emerging
this sector if you talk about emotionally emotionally. This concept is
already introduced first. It was introduced by the virtual reality gaming like
PUBG other then they take it to the next level. Other type of games like
Pokémon Go in which you have a mixer of. A virtual attender. Reality and
this matter was is the next level of that thing. So emotionally, they are
making people much more happier than the past things, and the people are
also enjoying this thing. If we come to the economical aspects
economically, it is also good as if you go to purchase something it will take
fuel and other expenses are lot of things. But you are having these things at
your own so that. And also we are good as part of. Economically,
financially, it is one of the things which will create a problem as this all the
setup and all things which cost a lot and to become a generalised and the
technological advances, it will take a lot of time. So this can become a part
for a common middle man. To use this in India, apart from that it has a nice
scope and future in India.

So like any technology is inevitable, so metaverse will have some benefits

in the future. But as in India, I don't think it's very much like feasible in the
recent times like or decade or so because like we are not very much
developed country, so the Internet penetration has just started. So most of
them like are not equipped with this so-called technological aspects. So
what I feel is that most of the corporate might start using in the initial phase
in India. And to get into the general public, it will take a lot of time for
sure, so it will be mainly focused with the corporates in India who are
multinationals because they can have a conduct meeting online means with
the different countries and if if anything happens in India generally it
happens with government push. So if government is really focusing on the
metaverse, I think, then the government should come up with a regular. But
that also, like there is no recent policies from the government for metal,
because metal is basically a corporate phenomena where corporates are
using to make money. So I don't think in India it will be great. Great heat in
the in in upcoming years.

According to you what are different benefit different stakeholder can get by
using metaverse. Just please throw some light on it. What are different
benefits of using meta words?
So like the question is, is is meta was a myth or reality? I believe that it's a
reality and the sooner we accept it the better it is the way that it can help
someone is like the use of AR and VR. For example. Augmented reality is
basically when. We, as a person are given a chance to try something which
is virtually present or we can just see how something would look on us so
it has helped greatly. Some jewellery or the beauty industry jewellery
industry, apparel industry and all of that and basically reduced a lot of
expenses on which was otherwise spend on brick and mortar shops and is
helpful. Otherwise in terms of virtual reality also it has helped. In in a lot of
ways, when creating an environment like like you mentioned pepper fry,
we can get a sense of how our living room would look like with certain
things or certain themes in certain. Nature, so I think that way it has helped
them a lot in increasing their reach and also geographically and yeah.

Sir, suppose we take in terms of architecture. So for increasing the

customer satisfaction right from start, we can project how the plan is going
to be. And when a person enters, he can see the view of his living room and
also the how, how his house is going to be at the future that can be
projected prior. So it's it's coming to be like you see the future in the eyes
of the present, so that's how the things will be and. There are lots been
explored in terms of real estate also being implemented. Inside the system,
so people do invest on real estate inside the thing and they rent it out for
gaming platforms and other stuffs. So such things can be explored in this
and it will be useful for gaming and also in other industries as well.

Like the most important thing is key when we are here we are away from
the our friends who are in graduation or from the school part. Like lots of
my friends are working in Pune, some of them they are working in
Bangalore. Some of them there in Mumbai and other place. So by using
just a WhatsApp video call we can get connected with them by using the
games like smash card like Pub, G or some of the community Gramme
where we can create a group of our classrooms or our those who are our
friends in graduation or in 10th standard we play with them and we can
create a group. Group in that and according to that we can play. So our
interaction which was lost or which was not that much good. Initially we
gain it back. Also, like we can attend the weddings also like some of my
friends have a wedding and I was not able to visit there so they put a
Facebook link or Instagram live link and we can attend their weddings so.
That can be also possible.
Adding two Shailesh point, it fused up to some point. It is for recreation
and all it will be it will give some benefits and also coming to our. The
point suppose in e-commerce websites and all if you want to buy a product
and if you want to see how it looks in a 3D view or something, it is very
good to use that in metaverse because there in the log them also there has
been some automobiles which are using 3D printing specifically to look
how it is in the metaverse. And all.

So I'll add one point that one of the major limitation of e-commerce is that
we have very limited use for any of the things that we purchase. But in
digital space we can purchase anything that matters. We can, as we are
separated from our ballet itself we can purchase. Anything that suits her
after anything that suits her mood. And this will, I think, boost the e-
commerce in the digital space.

I feel this is like a natural transition of social media where you see like in
social media you want to show your best version of yourself. So whatever
you show, it's not like the reality and once you come to metaverse, you can
create yourself an avatar where it may not resemble you, but it can be
something which you want to be. So once, like most of the companies and
products, they work on, the psychology of human beings. So basically
people are insecure, people have emotions and once people feel like I can, I
can be a better person in a metaverse Ann. Element, they'll try spending
more time in this world, and once people start spending more time in that
place, I think that is the place where all e-commerce all advertisements will
start playing. So I feel this is like a national transition of social media and I
think all businesses will start coming up here. So I feel that is it.

Kind of agreeing to what Naveen said, but also adding a point that
metaverse and basically all these we are in are are different because they
give us a sense of that something is made just for us like it's. Custom and
that actually appeals to us and we can see ourselves like a lot of people
could before even we are are could see how far nature would look like in a
in a setting or how how some clothing would look like. But if it's on you
you can get a sense of belonging and actually satisfies a lot of. Or English.
One of the biggest thing I feel that metaverse will bring out is that we can
finally inhabit the films or any games that we actually wanted to visit
somewhere. So as Harshita said that this world will be completely custom
to us. And as Prithvi said that we can purchase the real estate in that area.
So I think we can shape the world completely around us. If you want to go
in a fantasy world, we can go in with our friends in the meta versus.

Very good. People have. Traits that from social media to gaming industry
to real estate to some of the wedding you want to see the wedding and
some you want to spend some time. So these are different benefits we are
getting now with this interesting point. I wanted to know from the stream
panel that there are different benefits that we are getting. Metaverse, but all
benefits come with certain costs. So according to you, what are the
different cost or risk associated with when we are using metaverse for?
Any of the purpose?

Coming to his benefit, what he said is we can interact in the Metaverse and
all we can create our own author so that is that will be good for a person
who looks good. Suppose if a person who is not looking good in his avatar,
he. Looks good and. And he and he want to explore that. He will stay there
for forever and like for 24 hours because thus that world will be different
from his general world. His problems won't be there in the meta hours he,
so it will become a great addiction for that person. That is an exam.

And one more risk that I find is that some some children, teenagers who
have not developed a proper spending habit or have have not learned the
importance of money. I think because of this FOMO effect, they will start
spending recklessly because of this metaverse.

Like this, this risk can play on all the R&D sectors of all companies. Where
like it's always been a fascination. We wanted to have something like a.
Deportation or like a cloning. The and people have been working on this
for for many years, but once you have something like a metaverse it
completely cuts off all kind of transportation or teleportation because you
don't really need those technology anyway because you can digitally
transform yourself from one place to another and whatever time you spend
on these R&D aspects, I don't think it will become. Worthless in some
point time frame. Even normal transportation at some. At some point of
time it might be worthless like you can digitally transform yourself
anywhere.
Yes, so adding to all their points, I think there are a lot of risks like in terms
of health. I think they could be increasing use of screen time and in terms
of psychological risk it could be not interacting with people outside and
like basically having a different world view all together. And not like
detached from the reality that is going on, yeah?

So people will start thinking in terms of how physical not in terms of

physical, but in terms of how it's going to be projected inside the
technology, whereas we see in terms of FMCG, there is a big industry
which runs on the perception you see in front. In that case there are lots of.
Going to be a cost which which these companies are going to incur by
advertising it inside and not doing it physically in evidence.

Like a meta verse is actually a virtual reality and there is a real world
outside it. So if immature at a very early stage you start using it and at the
immature level and when you go outside you will also feel like the real
world is also like that, like a game called Vice City. Read somewhere that
lots of the US teenagers are shooting people just because they are, you
know Vice City and they are shooting in Vice City. So they were doing the
same thing. In the real world. Also, so that can be of one thing, other
psychological factors can also be like that, like they are not having an
interaction with the actual human being and they were developing stress
because of it. Like lots of people here also have a stress not because of the
real problem, but the problem like they are not getting. That much
Instagram for lower that much Instagram likes that can be also source or
the stress so stress can be an not an actual thing but problems will be
virtual also. So we will develop lots of virtual problem.

Actually there is a company called. I think Google is working on that

called Sark, in which they are exploring tourism. In terms of this arvar, and
in that case there is going to be a whole industry of tourism and also the
perception of people seeing it and having a good time visiting there is
going to get.

Adding to one point that her harshita raised that nowadays with rise of
Internet, we have already seen that people are forming online communities
and they are just looking for people who match their own views. I think
this will get extremely accelerated when we go into metres, people will
only. Look for echo Chambers where they will speak of what they want to
say and they will not look into other peoples viewpoint as well.

Focus group inside.

Adding to what Ankit said, that's something called moderation. Where in
social media it's already. It's very difficult to moderate whatever the text
content which is being produced or whatever the video content is being
produced. It's difficult to moderate, which can be showed to public and
which cannot be showed. And once something like meta. Comes up it is
going to be even more difficult to moderate the content which is being
displayed there. So I feel like these social groups it can be even in terms of
violence and other other terms where it's very difficult for a forum like
Facebook to moderate all this content and this can create a lot of. Chaos, so
I feel that. The risk?

So this technology, coming with different costs. And this associated with it.
Now I just wanted to get through your concluding remark from each of the
same panel member by just putting some light on. What is the future of
metaverse in India? If you're concluding remarks.

I feel meta meta versus real. It is going to happen maybe in terms of scale
in terms of bringing it in India, it might take time because like naturally we
are able to play Pub G because we had 4G. That is not possible. When we
had three G. So once India started. Using 5G. We might have A and we are
easier. Accessible and once all the we are we are. Gadgets are easier to
purchase for an Indian context. We might start adopting this technology
and for someone like India developing country, I feel we are more
emotionally attached to this technology. I feel something like digital spaces
where we are easily. And two, so I think it is easier for India to adopt into
this, just that the cost factor might take some time. But I think metal is real
and it will be in the future.

So there were many technology which were similar to Metaverse

previously and they also failed. Before they reach to India and given the
situation of Facebook right now, I don't think meta hours will pan out in
the future, so I don't think there is any scope of metres for India.

As Naveen told, there is a new evolution of fights in India, so I feel in

some point of time metaverse will come to India and people will start using
metaverse because even if we say gaming industry, it went to very high
boom because of the addiction of addiction to it. Similarly if some person
Try to use metaverse and if they like it and it will, it will go on a large
basis. And also I feel there should be a mechanism by the government or
the people who created meta was to limit the usage of meta was up to some
period of time in a in any device and all if we do that, and if we regularise
the usage of the meta was I, I feel it will give good benefits rather than bad
disadvantages.
Yeah, even my concluding remark is that only that I think it is inevitable
and it would happen. Meta was would pan out in India as well in order to
catch up with all the developing and developed nations. However, I think it
should be done in moderation and there should be like cryptocurrency also.
So it when it started out it went out with a blast, but then it had a lot of
moderations and government as well. So I think with moderation and rules
and regulations levied on it, we could balance out reality and virtual
reality.

So in terms of this metaverse, we have already seen that India is mostly a

service economy, and in that case there's lots of work from homes which
are coming and employers are also going to opt metaverse mostly by. Just
having an office set up inside the space. And also in terms of banking and
finance, there's lots going to be involved in metaverse, and US have. Also,
a bank has already exploded where banking is done inside Metaverse and
I'm sure Metaverse is going to make a big change in India.

Think we are already using metaverse like after COVID or during COVID
time. We are already using it like lots of the online lectures we have done
in the classroom with those who are doing the. Graduation or work from
home we have done. Like those who are working, we are already part of it.
Like lots of company are adapting work from home like TCS recently
show said that they want to do their maximum workforce to have a work
from home and in the US like which we said it was a Citibank who had a
completely made their. Online presence and in India also Bandhan Bank
asked for the Meta Wars project kind of thing. So it is already there and
they are working on. Other than that, online lecture and we are using the
simulations like we use the simulation. We have done some simulation.
The simulation is also a part of metaverse like in original company. If there
is a company and you are experimenting it like manufacturer, distributor,
retailer and if you done some mistake it will cost the company millions of
dollars. But in the simulation.

You can do the changes.

And you can learn from. So metaverse is already there. We are already
using it, but is it? It is in the rough format. In the future it will grow and we
will find it out.

My first question to you. According to you know the concept called

Metaverse right. What what is the what are the different application of the
Metaverse in business world according to you and what could be the
applications of the metaverse?
Yes, Sir, a little. So the first application, I think is the 3D hologram like
basically there is Airtel ad that came of a 3D hologram of Kapil Dev.
Which was using like something like 1 GBPS speed. So like for that
Metaverse is a part. Also Metaverse basically this vear turning veer into
reality. Virtual reality. There's a huge application, like for example using
this metaverse. Some companies are nowadays. Doing some
advertisements, like for example how this first say example. This furniture
will look into your home and how it will fit. This application is being done,
so I think that's all.

So if we have different application of the metaverse in the business world,

what could be the cost associated with it? Or what are the challenges that
marketers might face when they will introduce me towards into the
market?

So the first thing is, as Metaverse is still not that much currently in India,
so there will be a huge identity cost associated with that. Apart from that,
which maybe will, which will maybe go to the sunk cost in the future?
Because there's also risks associated with it. Apart from that, there's also
some huge amount of data, for example Internet or like Internet speed is
needed along with some. Participants who need to be expert in this field, so
like this all course will wear.

Very good. My last question to you and you give your concluding amount.
Do you vote you see what are the cultural, psychological and social impact
of metaverse?
Yes now.
Be it good or bad anything. So please let us know what are the social,
psychological and cultural effects of metaverse?

Sir, in social the first thing I will tell is people are associating more with
the Metaverse nowadays. For example, Facebook has converted to meta, so
the thing that is happening is the virtual reality is gaining a predominance
over like normal contacts. And regarding the psychological people are
nowadays take, take survey and they basically know the different
technologies and wants to learn about them. So I think in technological
terms, for a layman it will help help impact the lives.

We will start the interview. First question is the same question that what
are the applications of metaverse in the different words?
Yes, our metaverse is used with tourism and also shopping, shopping
experience and also theme parks like virtual reality world. You can create
like you can create shopping shopping complexes. In that you can sell land
in that virtual reality. Yeah, Disney World like you can create a virtual
experience to go into any Disney World like that.

What are the different risks associated with metaverse?

Breach of security privacy people's interest will be known to everyone your

personal information. Will be outside. Anyone can reach into it and know
what's your thought process and all privacy. And also. These are some of.

These are the certain things and what are the challenges? My third question
to you, government play important role especially in India. Whenever you
have to implement any of the strategy how government regulation and what
government can do for the better adoption of the metaverse. Any policy
suggestion you want to make? You don't have any idea, so just tell me that
what is the future of it and what are the future. Challenges of it.

Yeah, related to metaverse. Mostly it's about virtually people will be

connecting, no socialising there will be reduction, social, social contacts
and. Privacy concerns are many mainly.

Towards I am Amit, I am doing a research on metaverse and I wanted to

know the general customer perspective and whatever data you will give
your whatever your view will be. According to you, what are the different
applications of metaverse in the business world? What could be the
different application in which industry it can be used? And how it will be
used?

Like clothing, industry and retailing like we can try the clothes from like
met towers and like any product that is personal care product that can be
also used. We can see how we'll look. For example if some website is
selling the shoes. We can like it can show that how we will look in that
choice so and. Yes or no? I think in business world I'll guess that for the.

Retailing industry also it's applicable.

Infrastructure also like even if for example the. Like the infrastructure like
in House house, whoever the company is selling the houses and all if the
flats. So in the metaverse was like we can be there virtually inside that
particular house and we can see that how that house from inside will look
from our comfort of our. Home, so we'll get the feel that, for example.
Also, though, for example, some companies selling the furniture so we can
say that if we place that furniture in our homes and then how that will
affect the beauty of our home. So these kind of things.

OK, so my second question and last question where you can give you the
marks 2 remarks 2 that according to you what are the growth opportunity
of metaverse in Indian context as we know that this huge population we are
having market is huge. What is the growth opportunity of metaverse in
Indian context?

I think it's a. It's a according to me. It's a very good market to tap in and
Indian continent because it's a developing nation and there are many like.
Many, I would say that. Increase in or digitization like government and
also private sector, are focusing on digitization and making as much as like
any business, digitise and so that I think that this is a very good. Like
option for any business that is trying to do in a distinct like in a distinct
way and like separate them for their competitors so it will be very
beneficial for them to like understand the customer needs and. Like
catering the needs as much as like exactly as possible. So I think that this
will be very it will help the business to grow. In India?

And thank you for agreeing for giving the interview on topic called
Metaverse. I am Amit and I'm doing this search on metaverse and I wanted
to know you you on metaverse? My first question to you that we are
knowing that the database is coming into the picture. According to you,
what could be the probable risk risk into it when we will use this
technology called metaverse? And when you are discussing this, please
discuss psychological, cultural and social risks. What are different types of
services?
As we have seen that as we are moving towards a digital generation so the
lack of physical contact. Among us among ourselves is getting less so
people are getting more societal thoughts and to leading towards
depression so the human touch will be the trade off. If we go into
Metaverse so that would be the psychological thing. Culturally we lose our
values and morals. Because then the communication between the parents
among the family will be very less as we have seen. We have heard. Heard
yesterday in the FGD that the Japan having that particular culture in their
country because of which the. Kids are almost packed in their houses. They
are not going out. They are not playing with the other kids and everything,
so that will be missing and. The other trade-offs will be the unemployment
as a on the face of economy because then everything will be digital. If you
don't need to go out to the stores, then the people will lose their jobs, so I
think these. Are the risk and trade off?

So the second thing I want to say in India ban any technology is coming
government play important role into it. Government intervention is
required. If you will get a chance to come up with certain policy for the
penetration of this metaverse, support could be the steps that government
should take for the smooth transformation from offline to metro worst.

So as a citizen, I always feel that we very quickly jump to the technology

perspective and we try to apply technology. But we forget that people need
to get educated about the technology. 1st and India is having the maximum
percentage of young people. But what percentage of younger people?
Educated properly for this and they are. Are they ready for this adoption
for this particular technology is very important, so as a. Part of from the
part of the government is very important to educate people about the
technology and then do the research that how they wanna implement it, like
metro cities and then penetrate towards the other cities. So I think that is
very important.

I am Amit. I'm doing a research on metaverse and I wanted to know what

metaverse is and definitely your export comment will help me in
articulating this research. I wanted to know first question from you that
what's your view of different applications? Of metaverse in business world,
what do you think where metaverse can use at different business world?
Please give some of the example to.
So actually with the growth of digitalization, the Metaverse is not only
limited to one particular field as such, like as of now we can see that in the
retail industry or in e-commerce website and all in some form metaverse is
there. And with the growing. Time its IT can expand to different different
sectors as well, like specifically like supply chain in India. Presently this is
very unorganised sector as of now. So with the inclusion of metaverse in
this sector particularly, we can move. We can basically organise this kind
of sectors as well. And along with this, as of now, like if I think in a way. It
it knows no limitation as of now, like it can go to any extent. That is one
thing with the technology. Like if technology if you you have to create a
boundary from yourself. If you leave it then it will it can go. To any
extent.

According to you then. What is the different benefits that we will get if
metaverse implementing, especially in on learning domain on services
domain learning, hospitality, host, hospital and healthcare? What are the
different benefits you are seeing?

For learning purpose as well, like we are seeing that. In very recent times,
the at tech industry has also we have seen a huge boom in the at tech
industry as. Well, so with Metaverse, the learning can be more immersive
like. We have also seen one application that visual learning like people
students are able to retain more when it is more of a visual learning. So this
metaverse will actually help like whatever theoretical learning we are
having. If we can integrate that with the help of Metaverse. The learning
will be more immersive and. Student also those children also might be able
to think more cognitively about that particular thing, so their thinking will
exceed like they won't be limited to a particular thing. They can go beyond
certain levels and they can think on their own. So that is one good
application which metaverse.

My last question, and you conclude your statement too. With this question.
That according to you, especially for the rural India, there's so many people
are rural staying. In EU feel less infrastructure. What do you think? What is
the road ahead for this metaverse? Worse in this context?
So first of all, in rural area, awareness plays a huge role, like if at all, still at
majority of the portion in India, Internet has not been penetrated as of now
like especially talking about the rural part so. Once that breaches, like once
this Internet breaches to that extent, then slowly like with time, Metaverse
can also penetrate that thing as well and directly if we go it will be difficult,
but if we take some other routes like we are using. What hours in our day-
to-day life like in e-commerce website like lenskart is having and kind of
more immersion, we are actually involving the consumers where they can
actually try without actually physically trying that particular barrel. So if
we are taking a different approach, like in an indirect way, then the people
in rural India, they might be inclined towards it. But again, if we fix a
certain, like if we forcefully feed them, then they they might resist those
things.

Thank you, thank you very much for. Your time and. Give you such a nice
pointers, please, silly. Thank you again for agreeing to give the interview
on the topic called My Towers. I am Amit and I am doing a research on my
towers and I. Wanted to know. Your view on metaverse. It will take only
two to three minutes. Do you have two to three minutes, right?

Yes, yes.
That you should ask during the interview right is just starting it. Now my
simple question that everyone is talking about meta. Worse according to
you what a different risks are associated with metaverse.

Oh well, one of the risk that I could think of is in meta is you will be
completely immersed in the environment so that there will be little
boundary between the reality and what is happening in the virtual world.
So that could be one of the risks which I could see that moving ahead.
People will become socially distant like physically. Constant, and that
might also impact their mental health and cause stress and other health
issues because there's a chance that meta was. Actually, it's like you are in
a place and you are just using it from one room itself and accessing the
entire wall so the impact on your health, exercise and everything would
somewhere go down and. Like it can create issues.

So in India, at most of the time government play important role in

implementing any of the policy which is coming and technology whatever
is coming. As per you, what are the policy level challenges as required
changes are required to implement of the metaverse or use of metaverse at
the large number.
One would be, I think frauds like digital frauds are very well known. The
Cyber crime, cyber bullying etc. So there should be some moderation that
should come up in Metaverse universe to monitor what is happening in the
universe. One of the challenges would be that secondly India being a
developing country. There there there are possibility that people might not
have access to everything. Privacy and everything that that's an issue, so
there should be some sort of loss to monitor.

So according to you, what is the application of metaverse?

I see many applications you know, for example, the practical applications
also. I have seen this NFC's non-fungible tokens NFTS also already
trending in the market where people buy paintings in the. Space and spaces
and everything in virtual space also in VR and became virtual meets like
Google meet how we are having today like zoom meet or something. How
we virtual meet and you know, especially gaming, gaming, dissection, it
will have a lot of opportunities because of the avatars and everything. Also
in the. Online space and text space. Also it's a very high opportunities and
it changes the way people interact with each other. Instead of, you know,
personal meetings people attend to have virtual meetings. The way we see
movies, the way we everything will change.

OK, so if it will change the things which we are doing in different aspects.
What do you think? What are the different risk also involving it when we
are taking so much benefits of this technology?

There is good. You know people will be spending too much time in the
year you know will be lost in the virtual world and we cannot differentiate
between the real and virtual worlds. Also, there have been cases of cyber
bullying in virtual space. You know it was a case registered, molesting a
woman or something. So like their cases will be there and also you know
especially kids will be spending too much time on the Internet and they
will get lost in the Internet. There are so many privacy issues, you know,
because virtual virtual thing requests and your data and everything. To be.
Inside the system and there are a lot. Of these issues also, yeah.

OK, so if there are some benefits you have told me some of the risk you
have told me with which are associated with metaverse. So what do you
think this will be applicable in near future in developing country like India
or it will take some time, what will happen? With this technology in India.
So even if a developing country, for example, many of the metaverse
workers are from India because it applications and everything developers
will be in India itself. It will it will. It will not take any time to for
adaptation because there will be. Two sections of audience people ready to
adopt to people not ready to adopt, and there will be in each and every
country the same section of audience. So yeah, it's it's not based on country
wise.

OK, So what are? My last question to you and concluding remark I wanted
from you on this metaverse discussion. That what do? You think what
should be the role of government? In implementing because in India we
know that anything is coming. Government play important role into it. So
what is the role of government in implementing these technologies?

So when it comes to government, you know they should create even

separate ministry for this matter. Worse, because it's a whole new world,
we should enforce state laws, rules and regulations. We should bring, you
know, power, enforce new bills. You know how people should, how much.
The matter should play how much role the metal should play, how much
role the government people should play should be stringent loss, otherwise
it will be heavily misused. And yes, that's.

Yes, so I do know from you that what is the use of metaverse in business
world according to you, how business will use this technological
metaverse?

I'm sure there are many implications for suppose if we are talking about
marketing and if if we have to play advertisements so metaverse will
provide a platform for the advertisements. Like suppose if there is a game
so. They can target their audience like if they're targeting that audience
gaming audience, then they can target that on that game only that the
scenario is created, the city is created, the holding is there, they can
advertise there. So this is one of the implication of business. Along with
that we can also say that in this changing scenario, what I have noticed is
that. But when I was joined, I joined the company at COVID COVID
situation was there. So we had our on boarding on metaverse only, so we
were virtually in our office through metaverse and we actually used it so it
was a very good experience for that. So these kind of implication is what I
feel should be.

And voted the risk associated with this technology because you have used
it. So what's your view on the cost and risk?
So yeah, so risk part is basically the way it monetization only. So if if
suppose for the technology is coming metaverse is there so through
cryptocurrency and this is the way that it's currently going on. And it is
actually not regulated, so there is a bit of risk along with that that human
touch, which we'll always talk about that whenever technology is coming
that human touch is missing. So that is one of the risks that people. Like do
like if it is very addictive that if you start being online too much, the screen
time will increase. You will hate started hating that actual human
connexion, along with that if you are talking about experience, like
Metaverse, is also going to implement on the travelling like people if want
to they travel. Metal has also come into picture where like we just saw on
the video that you can travel through Google map. So there is one more
scenario that we're travelling companies or they'll start providing a
metaverse for these things so it will also be like the physical. If you are
physically there, that feeling and being on a metaverse is completely. On if
you talk about Indian context that people are very religious. They used to
visit the temple and also there might be one more scenario where the the
visit of Temple they try to make it through the metaverse, but that might
not be successful for degeneration like currently generation because they
have this belief that they want to go to visit. Temporal to perform all the
rituals and metals cannot be fit into that picture, so these are the things.
Which I feel.

Yeah, my last question to you and I want your concluding remark all
remark also on this. What will be the impact of metaverse positive or
negative? Anything on psychological front social front and cultural front,
especially in India? What will be the impact of metaverse on cultural front
social front and and psychological front? Good or bad, anything?

So so on cultural front. It's all about adaptation and what I have seen
throughout the India is very good at adopting new things because people
are here the the most number of the percentage of people are very young.
They are actually learning, so the adaptation is always good and culture is
basically defined of how people are reacting to the changes. It's not that the
culture is going on from the past, will continue in the future also. So
culturally it would be also good and psychologically again that human
touch will come into picture and the people would be more towards
introverts awareness than being extrovert and trying to communicate with
people.