![]() ![]() ![]() GlobalData’s recent sentiment polls revealed that 42% of respondents felt that the metaverse would cause no disruption, with only 23% saying that the theme’s disruption would be ‘significant’. It seems that the ‘move’ to the metaverse is still little more than a tentative step at this stage. The metaverse hasn’t taken off yet, with reports that Decentraland attracted only 38 active users on a single day in October 2022. Until customers can trust that their funds are adequately protected, traditional banking in the metaverse will remain a pipe dream. ![]() However, emerging platforms are unavoidably exposed to risk as cyberattackers exploit vulnerabilities in new technology. The metaverse has the potential to offer numerous opportunities for the banking sector, from new streams of revenues to easier fulfilment of ESG targets, particularly in relation to financial inclusion and demographics. If these realities are ever to “effortlessly converge” in a true sense, then real-world wealth needs to be accessible, useable, and secure in both. ![]()
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