Metaverse Banking 2.0

Abstract

The metaverse combines with reality and creates an alternate universe. The availability of technological advances enables us to perform new tasks or efficiently complete ordinary duties. The “metaverse,” or extended reality, opens up fresh opportunities for fascinating telepathy as well as has the potential to simplify routine tasks. As much as these technologies assist us in this work, education, healthcare, consumption, and pleasure, they also pose several challenges. The chapter tackles the questions of why and when customers will accept an entirely integrated area for a variety of operations, such as buying things and making purchases of Banking services. Examining the potential of Metaverse banking, this study looks into interesting avenues for future development that will influence how financial environments change in virtual spaces. The research anticipates a financial transformation with a focus on Blockchain, virtual assets, smart contracts, decentralized finance (DeFi), and immersive technology.