How does 5G add value to Web3.0 and what business opportunities will this digital combination create.
Dr. Caesar J's Digital Management periodicals?
The second in the series of summary outlines
October 2022?
How does 5G add value to Web3.0 and what business opportunities will this digital combination create.
Both the 5G and Web3(.0) can be considered as having the same age on the digital management timeline, both are morphing into becoming something that we are not sure of. I am lucky to bear witness and participate in their growth and development journey. So young that we already see a forking between #Web3 and #Web30. It is like when electricity was invented, nobody could imagine where it could lead and what kind of new industries it could light, generate, and power. #5g capacity would have been idle without the rich content of Web3(.0) and, reciprocally, Web3(.0) would have a hard time with 4G technology only, as we will see below. We will not differentiate between Web3 and We3.0, because 5G will be delivering the same benefits to both. 5G has many characteristics, three of those are extremely relevant to Web3(.0): Low latency, IoT friendly, and OpenRAN.
1.?????Low Latency
The #5gtechnology has been in development for years but may finally be rolled out in 2022. 5G would mean lower latency, better speed, wider coverage, and accessibility. #5G will bring many internet-based plans to reality like smart cities.[1]?The lower the latency, the more potential use cases there are for cellular technology. Hypothetically, instant responses – those approaching the hallowed single millisecond mark, for example – would increase the effectiveness and dependability of driverless cars, remote surgery, augmented reality and, more prosaically, online gaming.[2]
a.?????Existing business sectors
5G with its ultra-connectivity enabled by high data bandwidth, low latency, and high density of devices, will exponentially increase data storage and processing directly using edge computing – distribute data closer to the point where it’s used — and in the cloud. Business sectors that 5G could disrupt include are Cloud investments for financial services, AI data intelligence for the insurance industry, Cloud and edge computing, Medical equipment and telehealth solutions, and Supply chain management. Disruption doesn’t happen immediately of course. As with 4G, at first glance, the use cases for 5G will seem remote and not particularly relevant. But once that 5G passes a tipping point, use cases we cannot even imagine will present themselves, disrupting most business sectors.[3]
???????????????????????????????????????????????i.?????Medical
5G is revolutionizing the healthcare industry in many ways. The Healthcare ecosystem is continuously evolving into an interconnected network of multiple sectors, stakeholders, and services working to incorporate 5G and its benefits into healthcare. With this, there are soon to come more patent filings, more penetration of start-ups, more customer driven business models, and more than ever IP licensing agreements.
??????????????????????????????????????????????ii.?????Stock market
Instead of calling it HFT [High Frequency Trading], I prefer the name of low latency trading. The objective of HFT is to take advantage of short period discrepancies in prices and trade on them quickly and in huge quantities.?For example, a computer recognizes when one exchange quotes an?asking price?of 1 cent more than the quote on another exchange.?This computer then trades in extraordinarily large volumes on this information, taking advantage of the?arbitrage?opportunity in a fractional of a second.[4]?
?????????????????????????????????????????????iii.?????Remote teamwork
Also, while incredibly fast speeds remain the consumer-focused pitch for 5G connectivity, the ultralow latency enables several use cases across various sectors that were simply impossible earlier. In remote surgery, for example, precision is of paramount importance. A lag could result in loss of life. The ultralow latency will also transform remote work culture across large organizations, enabling them to move beyond video conferencing to telepresence and mixed-reality experiences.[5]
b.?????Games and education
5G will dramatically speed up data transfer speeds which will allow games to operate much faster. Everything from initial game downloads, level downloads, to multiplayer games will benefit.[6]?Also, 5G’s ultra-fast speeds, lower latency, and the ability to connect a massive number of mobile devices will enable new and improved opportunities to increase equal opportunity to education with distance and remote learning.[7]
???????????????????????????????????????????????i.?????Group participation
The process of sharing power and value with other organizations by schools, colleges, and universities has already begun via MOOCs [and strengthened by 5G]. It is only a matter of time before we will witness the launch of educational DAOs (Decentralized Autonomous Organization) that will transform the system completely. These entities will help learners to become a member of a community that shares similar ideas and interests. They can easily support other team members or collaborate with them on group projects. The technology nurtures creativity in learners and gives them the necessary platform for exhibiting them.[8]?Already, users see a better multiplayer mobile gaming experience and faster average download speeds with 5G than with Public Wi-Fi.[9]
??????????????????????????????????????????????ii.?????On-line contests
5G has so many advantages to it from a gamer perspective in terms of just much faster latency anywhere. That dream of being able to just get together with friends anywhere. And play multiplayer real time and not just play, but rather participate in a space by both creating content, consuming content, consuming gameplay, being part of the experience fully, anywhere, without consideration of are you in Wi-Fi, are you somewhere with fast enough Wi-Fi or not. It's really quite a game changer.[10]?In terms of education, students will be able to move from the virtual classroom to the virtual museum or library – or to yet-to-be-imagined settings that don’t exist in the physical world. And in the metaverse [Web3.0], students will be able to learn in settings that combine virtual and physical elements.[11]
?????????????????????????????????????????????iii.?????AR / VR / XR
“The last thing a gamer ever wants is lag. Having 5G technology just ripping the cord of latency problems is so important. If you think of all the virtual reality technology that we have right now, there are literal strings attached; using 5G technology in order to have you immersed in that world is really leveling things up.”—Mari Takahashi, or “AtomicMari” – one of the top names in the world of gaming.[12]
c.??????New FinTech verticals
One obvious advantage for financial companies due to 5G simply relates to its increased processing power. Mobile networks with higher bandwidth boast the ability to process more transactions compared to 4G. With many users conducting banking and securities trading smartphones, they enjoy a more seamless mobile experience on 5G. Leveraging 5G to bring high-speed Internet to underserved communities also benefits the financial industry. This scenario allows them to target new customers with superior and secure banking services. Expect financial companies to increase their client base as a result.[13]
???????????????????????????????????????????????i.?????Crypto
“Blockchain will ensure data reliability, and security, thus enabling smarter and faster value functions in the complete overhaul. 5G can result in ultra-fast crypto transactions and more clarity for the users, coupled with reduced dormancy, sharp device connectivity, and highly lower costs,” says Dileep Seinberg, founder and CEO, MuffinPay, bill payment and utility crypto.[14]
??????????????????????????????????????????????ii.?????Metaverse
Metaverse is here to prosper and fast building its cities, nations and continents. The population is all set to explode in meta and very soon metaverse will be accessible to every potential avatar through 5G mobile handset. The way metaverse started, as a digitalization of real world, has now rapidly taking the path of drawing people to physical world from virtual world. Recent launch of Electric Car XC40 by Volvo in “Volvoverse” is an illustration of how metaverse has taken over our lives and how well industry is using metaverse to foster growth.[15]
?????????????????????????????????????????????iii.?????NFT (non-fungible tokens)
5G has now given hope to the people in the NFT industry of a revival. “While there might not be a direct impact, 5G is expected to enhance the quality of connectivity and mitigate issues related to network bandwidth, especially when it comes to Blockchain/Web 3.0 games. The question of whether or not the network can support an intense game involving NFTs will be effectively answered by bringing in 5G into the connectivity equation,” says Arjun Reddy, CTO at Guardianlink, an NFT platform.[16]
2.?????IoT?
5G is the fifth-generation cellular technology that revolutionizes and enables new capabilities such as Artificial Intelligence (AI), Cloud computing, Edge computing, and the Internet of Things (IoT).[17]?As an example of 5G’s value, manufacturing companies are utilizing it to create “smarter” factories that use sensors, mobile robots, advanced automated tracking, and wireless connection of machines for greater productivity, accuracy, and cost efficiency. As another example, in the logistics and transportation sectors, containers, cars, cranes, and ships can seamlessly connect to one another on 5G to provide greater visibility throughout the end-to-end shipment and delivery process. And in retail, smart screens and the omnichannel customer buying experience will be greatly enhanced through 5G. [18]
a.?????Security
Adoption of 5G and the IoT is being driven by a number of factors, including increased demand from consumers and enterprises and the availability of more affordable devices. Significant operator investment in 5G technology, spectrum and infrastructure, together with the implementation of global standards, are also helping drive growth and increase market interest in the IoT.[19]?Without security, the Internet of Things will cease to exist. To enable a secure market, companies have to take responsibility to embed security from the beginning and at every stage of the IoT value chain.[20]
???????????????????????????????????????????????i.?????Blockchain
Where Web 2.0 companies like Google, Facebook, and Twitter concentrate flows of data and advertising through centralized platforms, Web 3.0 portends a transformation in the nature of the data-driven enterprise. Web 3.0 is designed to categorize and store data without the need for any central points of control. What is perhaps the most interesting feature of this Spatial Web is the use of?distributed ledger technologies (DLT) like blockchain?to support decentralized network security and storage.[21]?
??????????????????????????????????????????????ii.?????Tokens
Not only is the Web3 world unregulated, but there is also uncertainty over the legal status of tokens, smart contracts, NFTs and DAOs (Decentralized Autonomous Organization). Before a substantial number of larger organizations commit to Web3 for their IOT systems, the legal status of the various instruments will need to be more firmly established.[22]?Overall, regulating DeFi (Deregulated Finance) to an appropriate level will take many years, and will be done in an uneven fashion across countries and sectors. None of this is conducive to using DeFi in IOT projects.[23]
?????????????????????????????????????????????iii.?????Connectivity
The widespread availability of low-power, wide-area radio networks, such as LoRaWAN, and NB-IoT on cellular networks, is a major factor behind an increase in the use of radio connectivity in enterprise IoT. Beyond that, greater capacity, options of guaranteed quality of service, as well as time-sensitive networking, which are becoming available with 5G, all point to a much larger role for radio connectivity in factories, warehouses, and other industrial settings.[24]
b.?????Digital Transformation
While 4G made cloud services useable on smartphones, 5G technology takes this to a whole new level. A #5gnetwork has so much processing power built in, that it becomes more than a network. Processing intense tasks, like Artificial Reality, could be handled by the network instead of your smartphone, improving both performance and saving battery. This makes new types of battery-powered devices, like light-weight Artificial Reality Glasses possible in the classroom and enables things like coordinated IoT devices. We could go on, but you get the point: 5G will drive digital transformation across multiple industries, including ours![25]?[University of Ottawa]
???????????????????????????????????????????????i.?????Robotics
du and Huawei are set to accelerate and empower industrial digitization through 5G-enabled robotics solutions which allow seamless roaming capabilities within the premises – making the robots faster, more responsive and more adaptive. A leading global logistics platform, SINOTRANS will utilize the 5G Campus Network on its industry 4.0 digitization journey, including process and warehouse automation.[26]
??????????????????????????????????????????????ii.?????Supply Chain
When it comes to Supply Chain and operations, Web3 profoundly impacts all of this through the important combination of Metaverse (and Digital Twins) and IoT, 5G, and blockchain. Customers can track the location of their products at all stages of the production process using a real-time supply chain view, and smart contracts will reduce friction in business relationships, and even enable interoperability of international and international supply chains across different sectors. And when all this is coupled with IoT, 5G and the metaverse, the result is extraordinary: you will be able to follow the entire production chain of a product from end to end in real time and in 3D format.[27]
?????????????????????????????????????????????iii.?????Driverless cars
?Building upon the improvements that 4G made to the consumer mobile experience, 5G was conceived with enterprises in mind, enabling and accelerating broad digital transformation journeys across industries. Private 5G networks make possible next-generation services, such as autonomous driving, robotic automation, synthetic biology, virtual reality, and smart manufacturing in an ultra-reliable, low-latency, secure and scalable way.[28]
c.??????Privacy
In this section, we address the issue of privacy in 5th generation (5G) driven Internet of Things (IoT) and related technologies while presenting a comparison with previous technologies for communication and unaddressed issues in 5G. The architecture of 5G is presented hence explaining layers of 5G and technologies like SDN, NFV and cloud computing that compose these layers. Privacy is highlighted in 5G driven IoT while providing details about how SDN, NFV and cloud computing helps in elimination of this issue.?
???????????????????????????????????????????????i.?????Data
Clearly Web 3.0 will shake up data privacy and change the data economy as we know it. Indeed, as the International Association of Privacy Professionals (IAPP) suggested in 2018, Web 3.0 might just be the answer to our data privacy woes. The enabling technologies of Web 3.0 are the innovations we’re already seeing, such as augmented and virtual reality, advanced networking (e.g. 5G), geolocation, Internet of Things devices and sensors, distributed ledger technology (e.g. blockchain), and artificial intelligence and machine learning. For privacy, this brave new world will mean humans, enterprises and machines can share more data with far greater privacy and security. We will no longer rely on (or will at least interact on our own terms with) Big Tech platforms with all their inherent risks, and users will own their own data and digital footprint via decentralized identity technologies.[29]
??????????????????????????????????????????????ii.?????SDN and NFV [30]
The emerging networking techniques such as Software Defined Network (SDN) and Network Function Virtualization (NFV) are promising a complete paradigm shift in how we manage our future networks. With their enormous benefits which include reducing the operational cost, better resources utilization and easier management requirements, the adoption of such technologies is gaining momentum. Supported by a well-defined basis such as network virtualization and the decoupling of the data and control planes, the integration of SDN and NFV with current systems might be a straightforward process. However, this might incur many challenges which require deep analysis to propose creative solutions.
?????????????????????????????????????????????iii.?????Devices
5G is never far from the headlines, but what about privacy by design in the context of devices that make up the Internet of Things? 5G will enable billions of Internet of Things (IoT) devices to be deployed and a vast number of new applications to be conceived. While 5G represents a significant shift in the use of mobile networks, existing data privacy regimes that are technology neutral already address a wide range of uses of data collected through apps, mobile device operating systems, social media, websites, and network operators and are likely to be sufficient to address the use of new 5G capabilities within the online ecosystem.[31]
3.?????Edge, VRAN & O-RAN
The development of a disaggregated and agile mobile network that supports a massive number of connected devices, broadband speeds, network slicing, and edge intelligence is the result of a number of technologies that form the 5G vision. vRAN and its O-RAN implementation are key foundational blocks to realize this vision and therefore next in operators’ roadmap, which are also evaluating technologies such as Multi-access Edge Computing (MEC) and Cloud RAN (C?RAN) to unlock the full potential of a web-scale 5G network.[32]
a.?????Virtual reality
While many of us see AR and VR technologies mainly used for gaming, in reality, many industry verticals are looking at these technologies as game changers. The 5G networks and their highly capable radio network infrastructure, high performance distributed 5G core networks and edge computing are ready to deliver the AR and VR experience wirelessly across industries. We foresee VR and AR use cases growing exponentially across several industry verticals enabled by 5G networks.[33]
???????????????????????????????????????????????i.?????Multimedia
AR/VR technology will become truly mainstream with the broad-scale adoption of 5G networks and its convergence with the cloud. Critical to this is a concept called a ‘thin client’ which is the idea that a device which typically includes a number of features such as applications, data or memory has them stored away from the device in the cloud or data centre but which can be easily and readily accessible. This is cloud AR/VR technology.??It will be a disruptive form of immersive multimedia and revolutionize the way we communicate and consume content across the enterprise and entertainment fields.[34]
??????????????????????????????????????????????ii.?????Games
For the first time in the Netherlands - and without any physical restrictions and in different locations - multiple gamers are playing against each other in Virtual Reality (VR). This has been made possible thanks to a new virtual reality (VR) application developed through edge cloud. This innovation ensures that all the computing power required to use VR in real time is moved to a remote computer using Vodafone 5G. This combination provides low delay, high bandwidth, and full freedom of movement.[35]
?????????????????????????????????????????????iii.?????Music
5G technology can also help workers learn new skills for life. Training on the job in real-time is made possible over a 5G connection, connecting staff remotely with experts not stationed in the field. It can also help teachers to get necessary information about each student and be aware of their particular needs and capabilities. For more classical subjects, such as music, we saw a great example from songwriter and musician Jamie Cullum last summer [2022]. He led the world’s first 5G music lesson from a piano in the Roman Amphitheatre in London.[36]
b.?????Content
One of the most anticipated changes in the 5G network is the deployment of edge cloud infrastructure capable of supporting network functions, media content, and applications via frameworks such as mobile edge computing (MEC). This new nexus in the mobile network architecture enables operators to offer higher performance services — particularly low latency services — that are impossible or impractical to deliver with 4G and cannot be effectively delivered from large, centralized data centers.[37]
???????????????????????????????????????????????i.?????Several Terabytes?
领英推荐
In 5G RANs, antennas are being upgraded to multiple input, multiple output (MIMO) antennas, more specifically referred to as massive MIMO in 5G networks. Massive MIMO is multiple antennas in one unit with a physical size corresponding to the frequency it supports. Additionally, MIMO technology has much more transmission ports that increase the network capacity and data throughput. The catch here is it requires more processing resources to support all antenna signals. Having edge computing resources can help support massive MIMO.[38]?(For more technical info you can refer to www.qualcomm.com [39]).
??????????????????????????????????????????????ii.?????Indoor games
As 5G gains momentum, operators are focused on providing stable and reliable #5gservices to their customers. One element to improving the user's network performance satisfaction is to provide a stable indoor network since eighty percent of data traffic is generated indoors and that is where users spend most of their time. By leveraging the indoor 5G network, operators not only increase the user's network satisfaction, but they generate new revenue by providing new services.[40]
?????????????????????????????????????????????iii.?????EduTech
In today’s society, people are increasingly working and learning remotely. In some rural communities, internet speeds in the home are too slow or too unreliable to support the higher connectivity needs of work from home and distance learning operations running simultaneously. To support these new working and learning environments, MNOs need to boost connectivity speeds in some homes. With the exciting possibilities of 5G at the forefront of many MNOs’ minds, rural MNOs are looking for ways to cost-effectively and flexibly upgrade their networks as they transition to 4G or 5G. The new Open vRAN software dramatically improves the economics, deployability, and scalability of 5G RANs.[41]
c.??????Marketplace
The Open RAN Policy Coalition is the newest coalition for open RAN, formed when the United States State Department was seeking input to policy review the 5G technology and vendor landscape. The goal of this coalition is to “promote policies that will advance the adoption of open and interoperable solutions in RAN as a means to create innovation, spur competition and expand the supply chain for advanced wireless technologies including 5G.” It believes that “there are a variety of steps that policymakers can take to facilitate a vibrant marketplace of suppliers based upon open interfaces.[42]?[Members of the coalition] are very focused on bringing Open RAN technology to market with no overhead. This can be done with far less people at far lower costs to disrupt the marketplace.[43] Meanwhile, marketplace innovation continues. [Other coalition members] recently introduced a new collaboration on an integrated software platform for virtualized radio access networks (RAN) aimed at accelerating the rollout of existing LTE and future 5G networks. [44]
???????????????????????????????????????????????i.?????Special purpose networks
The desire to leverage commercial off-the-shelf (COTS) hardware with general-purpose processors where possible came from the need to evolve mobile networks with new capabilities faster and scale networks for capacity at short notice. [45]?In terms of purpose, many networks can be considered general purpose, which means they are used for everything from sending files to a printer to accessing the Internet. Some types of networks, however, serve a very particular purpose. Some of the different networks based on their main purpose are Storage area network, or SAN; Enterprise private network, or EPN; and, Virtual private network, or VPN.[46]
??????????????????????????????????????????????ii.?????New Tech Verticals
Together with enhancements aimed at existing use cases such as mobile broadband, industrial automation and vehicle-to-everything, 3GPP release 17 introduces support for new ones including public safety, non-terrestrial networks and non-public networks. Future enhancements will also cover a wide variety of new verticals and use cases powered by artificial intelligence/machine learning technologies based on a single platform.[47]
?????????????????????????????????????????????iii.?????Edge as a Service solution providers
Edge-as-a-Service (EaaS) Providers: Companies that offer a platform for realizing distributed cloud architectures and integrating the edge of the network in the computing ecosystem.[48]?[EaaS] makes it possible to implement networks, operations and edge computing that combine to deliver real-time automation and processing. Not near real-time, but true real-time.[49]?For these companies, EaaS provides a one-stop solution to accelerate their path to edge. Innovative edge technologies offload the complexities associated with moving applications to the edge, including infrastructure provisioning, workload orchestration, scaling, monitoring and traffic routing. With EaaS, companies of all sizes can quickly and cost-effectively access the edge to deliver the digital experiences customers expect.[50]
I just demonstrated to you how new businesses will be created by the combination of 5G with Web3. You can find more than 25 business opportunities in this text alone. The topic is highly technical. Most terms used are still not part of our daily home jargon. The challenge is to learn them before the competition does. This subject matter widely exceeded my ±2000 words article target, even with compression. The aim is to make it easier for researchers to find the digital business opportunities. All topics chosen are technical, the next article will be on Artificial Intelligence-as-a-Service as applied to De-FI (Deregulated Finance).
[1]?https://content.techgig.com/technology/this-is-how-metaverse-web-3-0-and-5g-will-change-our-world-dramatically/articleshow/89340876.cms
[3]?https://www.information-age.com/information-age-guide-to-how-5g-will-affect-your-business-19983/
[5]?https://www.techtarget.com/searchnetworking/post/Develop-5G-ecosystems-for-connectivity-in-the-remote-work-era
[11]?https://edtechnology.co.uk/comments/metaverse-schooling-the-future-of-distance-learning/#:~:text=In%20terms%20of%20education%2C%20students,combine%20virtual%20and%20physical%20elements
[14]?https://www.outlookindia.com/business/here-s-how-5g-will-impact-blockchain-crypto-metaverse-and-nft-industries-news-228414
[15]?https://www.dqindia.com/top-5-trends-in-web3-0-metaverse-in-5g-to-look-out-for-in-2022%E2%80%A8/
[16]?https://www.outlookindia.com/business/here-s-how-5g-will-impact-blockchain-crypto-metaverse-and-nft-industries-news-228414
[18]?https://www.informationweek.com/big-data/next-wave-of-digital-transformation-and-its-impact-on-it
[23]?Idem, slide 17.
[24]?Idem, slide 11.
[25]?https://it.uottawa.ca/news/5g-will-drive-digital-transformation-across-multiple-industries-including-ours
[26]?https://www.telecomreview.com/articles/telecom-operators/6433-du-huawei-to-empower-industrial-digitization-with-5g-enabled-robotics
[27]?https://www.dhirubhai.net/pulse/6-main-areas-impact-web3-within-traditional-companies-andrea-iorio
[28]?https://investors.cognizant.com/news-and-events/news/news-details/2022/Cognizant-collaborates-with-Qualcomm-to-launch-5G-Experience-Center-for-Digital-Transformation-across-industry-verticals/default.aspx
[31]https://www.gsma.com/publicpolicy/wpcontent/uploads/2020/07/GSMA_5G_and_Data_Privacy_July_20.pdf
[34]?https://www.gsma.com/futurenetworks/digest/gsma-launches-new-forum-to-support-5g-cloud-based-ar-vr/
[35]?https://www.vodafoneziggo.nl/en/nieuws/new-level-virtual-reality-gaming-thanks-5g-and-edge-cloud/
[39]?https://www.qualcomm.com/content/dam/qcomm-martech/dm-assets/documents/how-to-build-high-performance-5g-networks-with-vran-and-o-ran.pdf
[40] https://images.samsung.com/is/content/samsung/assets/global/business/networks/insights/white-papers/bringing-5g-indoors-the-cricital-next-step-in-5gs-evolution/Samsung-Link-Series.pdf
[41]?https://www.intel.com/content/www/us/en/wireless-network/altiostar-open-vran-enables-rural-5g-broadband.html
[44]?https://venturebeat.com/business/the-ran-revolution-good-news-for-5g-edge-iot-and-enterprise-private-networks/
[47]?https://www.ericsson.com/en/reports-and-papers/ericsson-technology-review/articles/5g-evolution-toward-5g-advanced