Towards Future Internet: The Metaverse Perspective for Diverse Industrial Applications

Pronaya Bhattacharya, Deepti Saraswat, Darshan Savaliya, Sakshi Sanghavi, Ashwin Verma, Vatsal Sakariya, Sudeep Tanwar (), Ravi Sharma, Maria Simona Raboaca () and Daniela Lucia Manea
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Pronaya Bhattacharya: Department of Computer Science and Engineering, Amity School of Engineering and Technology and Research and Innovation Cell, Amity University, Kolkata 700135, West Bengal, India
Deepti Saraswat: Department of Computer Science and Engineering, Institute of Technology, Nirma University, Ahmedabad 382481, Gujarat, India
Darshan Savaliya: Department of Computer Science and Engineering, Institute of Technology, Nirma University, Ahmedabad 382481, Gujarat, India
Sakshi Sanghavi: Department of Computer Science and Engineering, Institute of Technology, Nirma University, Ahmedabad 382481, Gujarat, India
Ashwin Verma: Department of Computer Science and Engineering, Institute of Technology, Nirma University, Ahmedabad 382481, Gujarat, India
Vatsal Sakariya: Department of Computer Science and Engineering, Institute of Technology, Nirma University, Ahmedabad 382481, Gujarat, India
Sudeep Tanwar: Department of Computer Science and Engineering, Institute of Technology, Nirma University, Ahmedabad 382481, Gujarat, India
Ravi Sharma: Centre for Inter-Disciplinary Research and Innovation, University of Petroleum and Energy Studies, Dehradun 248001, Uttarakhand, India
Maria Simona Raboaca: Doctoral School, University Politehnica of Bucharest, Splaiul Independentei Street, No. 313, 060042 Bucharest, Romania
Daniela Lucia Manea: Faculty of Civil Engineering, Technical University of Cluj-Napoca, Constantin Daicoviciu Street, No. 15, 400020 Cluj-Napoca, Romania

Mathematics, 2023, vol. 11, issue 4, 1-41

Abstract: The Metaverse allows the integration of physical and digital versions of users, processes, and environments where entities communicate, transact, and socialize. With the shift towards Extended Reality (XR) technologies, the Metaverse is envisioned to support a wide range of applicative verticals. It will support a seamless mix of physical and virtual worlds (realities) and, thus, will be a game changer for the Future Internet, built on the Semantic Web framework. The Metaverse will be ably assisted by the convergence of emerging wireless communication networks (such as Fifth-Generation and Beyond networks) or Sixth-Generation (6G) networks, Blockchain (BC), Web 3.0, Artificial Intelligence (AI), and Non-Fungible Tokens (NFTs). It has the potential for convergence in diverse industrial applications such as digital twins, telehealth care, connected vehicles, virtual education, social networks, and financial applications. Recent studies on the Metaverse have focused on explaining its key components, but a systematic study of the Metaverse in terms of industrial applications has not yet been performed. Owing to this gap, this survey presents the salient features and assistive Metaverse technologies. We discuss a high-level and generic Metaverse framework for modern industrial cyberspace and discuss the potential challenges and future directions of the Metaverse’s realization. A case study on Metaverse-assisted Real Estate Management (REM) is presented, where the Metaverse governs a Buyer–Broker–Seller (BBS) architecture for land registrations. We discuss the performance evaluation of the current land registration ecosystem in terms of cost evaluation, trust probability, and mining cost on the BC network. The obtained results show the viability of the Metaverse in REM setups.

Keywords: 6G; artificial intelligence; blockchain; extended reality; Metaverse; non-fungible tokens; Web 3.0 (search for similar items in EconPapers)
JEL-codes: C (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5)

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