Forum Views - January 2023
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BOMBAY STOCK EXCHANGE BROKERS' FORUM (BBF) | MUMBAI, INDIA
JANUARY 2023 | VOLUME: 11 • ISSUE NO. 10 •
PRAVEEN
JAGWANI
LEILA
HURSTEL
GORDON
CHIU
INDIAN ECONOMY FOREIGN INVESTORS BUSINESS TRANSFORMATION CYBER RESILIENCE GREEN INFLATION
REAL ESTATE INVESTMENTS BY NRIs INVESTING FOR RETIREMENT WOMEN ENTREPRENEURS FINFLUENCERS
FUTURE OF WORK (DAOS) INVENTING HAPPINESS MINDFULNESS MANAGING CONFLICTS ONE MEAL AT A TIME
JAVIER
SEVILLA
AMY
MCCAE
ANGELA
BARNES
PAYAL
PARIKH
NIVI
JASWAL
PRITHVIRAJ
SRINIVAS
GAURI
DAS
POORNIMA
SHENOY
SURAJ
KAELEY
SAMEER
KAUL
R. SRINIVASAN
IYENGAR
DIVYA
KAKKAR
EXECUTIVE COMMITTEE
GOVERNING BOARD MEMBERS
BOMBAY STOCK EXCHANGE BROKERS’ FORUM (BBF)
GOVERNING BOARD 2022 - 23
Anup Gupta
Sykes & Ray
Equities India Ltd.
Cyrus Khambata
Paytm
Money Ltd.
Madhavi Vora
ULJK Securities
Pvt. Ltd.
Naresh Rana
Vishwas Fincap
Services Pvt. Ltd.
Neeraj Choksi
NJ India
Invest Pvt. Ltd.
Nirav Gandhi
JM Financial
Services Ltd.
Nithin Kamath
Zerodha
Securities Pvt. Ltd.
Ajit Sanghvi
MSS Securities
Pvt. Ltd.
Parth Nyati
Swastika
Investmart Ltd.
S. P. Toshniwal
Sunlight
Broking LLP
HEMANT MAJETHIA
Vice Chairman | BBF
Ventura
Securities Ltd.
LALIT MUNDRA
Chairman | BBF
Suresh Rathi
Securities Pvt. Ltd.
HARIN MEHTA
Treasurer | BBF
M/S. V. C.
Mehta
KUSHAL A. SHAH
Jt. Secretary | BBF
Ratnakar
Securities Pvt. Ltd.
KISHOR KANSAGRA
Secretary | BBF
Pragya
Securities Pvt. Ltd.
Anurag Bansal
SMC Global
Securities Ltd.
Ashish Rathi
HDFC
Securities Ltd.
Dr. Pravin Bathe
Angel One Ltd.
Purav Fozdar
Axiom Share
Broking Pvt. Ltd.
Vivek Gupta
GEPL Capital
Pvt. Ltd.
Virender Mansukhani
Mansukh Securities
and Finance Ltd.
Uttam Bagri
BCB Brokerage
Pvt. Ltd.
Tejas Khoday
Fyers Securities
Pvt. Ltd.
Saurabh Jain
SSJ Finance &
Securities Pvt. Ltd.
Roopkishor Bhootra
Anand Rathi Shares &
Stock Brokers Ltd.
Santosh Jayaram
GROWW
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(Chairman)
(Vice-Chairman)
(Secretary)
(Treasurer)
(Jt. Secretary)
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FORUM VIEWS - JANUARY 2023
06
Global
Insights
THE CHEQUERED HISTORY
OF FOREIGN INVESTORS
27
Your
Questions
Answered
REAL ESTATE INVESTMENTS
BY NRIs AND OCIs
AIFS IN INDIA (SERIES 9)
34 Insights
IN THE EYE OF
THE STORM
RISE IN INTELLIGENT
CYBER RESILIENCE
INDIA ON NEW HORIZON
WITH CHINA PLUS ONE
FUTURE OF WORK!
DAOS (DECENTRALIZED
AUTONOMOUS ORGANIZATIONS)
RESHAPING THE TRADITIONAL
ORGANIZATIONS!
INVENTING HAPPINESS:
WHAT IS YOUR METRIC?
BUSINESS TRANSFORMATION:
DON’T LEAVE FINANCIAL
MARKETS IN THE FOG
MINDFULNESS AND
EMOTIONAL INTELLIGENCE
IN BUSINESS
GREEN INFLATION: ENERGY
TRANSITION COST WORTH
THE SHORT-TERM PAIN?
PREVENTING AND REVERSING
DIABETES AND HEART DISEASE.
ONE MEAL AT A TIME
KEEPING UP WITH MARKET
RUMOURS AND FINFLUENCERS
40 Feature
CONFLICTS ARE
NOT BAD!
IT’S HOW YOU
MANAGE THEM
ACCELERATING THE
BUSINESS OF WOMEN
ENTREPRENEURS
SIX MYTHS TO GUARD
AGAINST WHILE
INVESTING FOR
RETIREMENT!
HOMO SAPIENS -
DREAMERS BY BIRTH
WHAT CAN FAMILY
MANAGED BUSINESSES
LEARN FROM
TEAM SPORTS
SECTION 17 IN THE
PROTECTION OF WOMEN
FROM DOMESTIC
VIOLENCE ACT, 2005
COMPLIANCE CALENDAR
54
Regulatory
Compliance
CLIMATE CHANGE AND RENEWABLE
ENERGY: UNDERSTANDING THE
ISSUES AND CONSTRAINTS
56
Economy
& Society
MODIFIABLE RISK FACTORS IN
PREVENTING ALZHEIMER’S
59
Living
Health Matters
Nurturing
Lifestyle
60
BHAGAVAD GITA FOR HAPPINESS
RELIEVING STRESS WITH ART
STUCK AT A CONSTANT INCOME
LEVEL? HERE'S HOW TO REMOVE
YOUR MONEY MINDSET BLOCKS
CONSCIOUS LEADERSHIP IN
VUCA (VOLATILITY UNCERTAINTY
CHANGE & AMBIGUITY) TIMES
52
Knowledge Series
by Academicians
RENEWABLE ENERGY SECTOR - A PATH WAY
TO SUSTAINABLE DEVELOPMENT IN INDIA
FORUM VIEWS, JANUARY 2023 edition
The year 2023 comes with new hope and faith that the world would be
better place to live in. The year 2022 saw several unprecedented events
like Russia Ukraine war, rise in global inflation and then the global
tightening of the interest rates. This has sent shockwaves globally and
the world stock markets saw huge volatility. But the worst seems to be
over, and things may turn out to be better than anticipated.
The global inflation is coming down with USA witnessing their inflation
coming down from 8.3% to 7.7% which was seen as relief as global
markets rallied. The US Fed has signalled that it would rather go slow in
rate hikes. The FIIs in Indian markets had invested Rs. 38000 crores in
November 2022 as the world witnessed slow pace in rate hike. The GST
collections have been averaged on the rise of INR 1.45 lakh crores
which shows strong under current recovery in the economy. The
passenger car sales touched 3,22,000 which was 31.5% higher which
shows strong consumer demand.
RBI has increased the Repo Rate by 35 basis points which has made the
Repo Rate reached to 6.25%. RBI has projected GDP growth to be 6.8%
from the earlier projection of 7%. RBI rise in interest rates could be the
near to the final rise as the inflation has come down from 7.41% to
6.79% which has given some comfort to RBI. The Global inflation also
seems to be moderating as the USA inflation came down from 8.3% to
7.7% which was huge relief to the world markets.
Dr. Vispi Rusi
Bhathena PhD
(h.c.)
Chief Executive
Officer
Dr. V. Aditya
Srinivas
Chief Operating
Officer and
Chief Economist
On the BBF front:
Day/ Date Interactive webinar(s) on
Webinar on UCC seeding
in demat accounts:
Practical issues and
solutions
Monday, 5
December
From the BBF Secretariat
Wishing you joy, love,
peace, and prosperity.
Happy New Year 2023.
BBF presence at the
27th Asia Securities Forum (ASF) Annual General Meeting
December 14, 2022 | 15:00 - 17:00 (JST) (India time: 11:30 - 13.30) | Virtual
Participating Organizations
International Capital Market Association (ICMA)
Australian Financial Markets Association (AFMA)
Securities Association of China (SAC)
Chinese Taiwan Securities Association (CTSA)
Hong Kong Securities Association (HKSA)
Association of National Exchanges Members of India (ANMI)
Bombay Stock Exchange Brokers' Forum (BBF)
Association of Indonesian Securities Companies (APEI)
Korea Financial Investment Association (KOFIA)
The Association of Stockbroking Companies Malaysia (ASCM)
Mongolian Association of Securities Dealers (MASD)
Philippine Association of Securities Brokers & Dealers, Inc. (PASBDI)
The National Finance Association (NFA)
Securities Association of Singapore (SAS)
Association of Thai Securities Companies (ASCO)
Thai Bond Market Association (ThaiBMA)
Turkish Capital Markets Association (TCMA)
Vietnam Association of Securities Business (VASB)
Vietnam Bond Market Association (VBMA)
•
Opening of Meeting and
Welcome Remarks
•
Guest Speech: Challenges in
the Asian Bond Markets and
ABMI’s Initiatives
•
Discussion: Trends and
Developments of Transition
Finance in Asia
•
Discussion: Applying ESG in an
Asian Style that Benefits Us
•
Future AGMs for 2023 to 2027
•
Administrative Information
•
Any Other Business and Close
of Meeting
Agenda
Future AGMs
for 2023 to 2027
Mr. Anurag Bansal
(International Affairs, BBF)
addressing
BBF the host for the
28th
AGM
Mumbai, India
ASF
2023
Global
FORUM VIEWS - JANUARY 2023
ost Foreign Portfolio Investors (FPIs) are a luckless
bunch judging by their investing track-record in India.
MHistory suggests that FPIs in general have struggled to
make money on their Indian equity investments. This causes
them to perpetuate the myth that Indian markets are hazardous.
On the flipside, a vast majority of domestic investors have
consistently enjoyed bountiful returns. Indian markets have
minted countless millionaires, particularly over the past decade.
The difference in approach for the two sets of investors makes for
a fascinating study.
India opened its stock market to foreign investors in September
1992 as part of its inaugural set of structural reforms. However, it
wasn’t until Jim O’Neill famously invented the notion of BRIC
(Brazil, Russia, China and India) countries in 2001 that investment
in India attracted global attention. Since then, FPIs have had a
curious love-hate relationship with India.
Over this period, FPI flows to India have waxed and waned in a
manner that has puzzled domestic Indian investors. The
cumulative equity investment of FPIs in India has been approx.
USD 200 Billion. The market value of this investment today
amounts to USD 585 Billion. Over the past ten years (2012-22),
the market value of FII holdings has appreciated at a CAGR of
11.5% in USD terms and 16.5% in INR terms. This compares very
Background
favourably with other emerging markets provided the FPIs held
their investment and did not trade in and out of India.
Insights
THE CHEQUERED HISTORY
OF FOREIGN INVESTORS
Praveen Jagwani
CEO
UTI International Ltd.
Market Structure
Broadly the ownership mix of the Indian equity market is as
under
(Singapore)
Company
promoters, 51%
Domestic
Institutional
Investors, 12%
Domestic Retail
individuals, 10%
Indian
Government, 9%
Foreign Investors, 18%
Ownership of Indian Equities
Over the past ten years, domestic ownership of Indian stocks has
been rising consistently while FPI ownership has been declining.
Consequently, FPI flows no longer command the sway they once
had over the Indian markets. It is the domestic flows that
increasingly determine the movement of the stock market.
Domestic investors (DII + Retail) now hold 22% of the equity
market cap, an all-time high level. On the other hand, only 18% is
held by FPIs, the lowest level in ten years.
Domestic equity flows have been robust not just from the Mutual
Funds industry but also through direct equity participation by
millennials. The urban millennials in India have enjoyed growing
incomes and have witnessed rising equity markets. Easy access
to smart phones and proliferation of investing apps have done the
rest.
Domestic Institutional Investors (DIIs - Mutual Funds and
Corporate investors) have cumulatively invested USD 91 Billion in
Indian Equity markets since inception. The current market value of
this investment is approximately USD 450 Billion. The triggers for
FORUM VIEWS - JANUARY 2023
Indian domestic investors to invest in equity markets are distinct
from those for FPIs. Appreciating those differing perspectives
could help both sets of investors to better understand the market
dynamic.
While there is no stereotypical FPI, my observations are based on
a reasonably large sample size across geographies, over the past
15 years. FPIs are prone to the following three mistakes when it
comes to investing in India.
The portfolio allocation for most FPIs follows the large established
asset classes - Home market Equities & Bonds, DM (Developed
market) Equities & Bonds and EM (Emerging Markets) equities &
bonds. The allocation to Emerging markets as a single bucket is a
lazy allocation and has delivered sub-par returns. In-fact
cumulative returns for the past 5 years have been negative for EM
indices, mostly on account of China. Research has shown that the
growth drivers of each emerging country are different since each
country is at a different stage of evolution. Thus, the economic
outcomes of the combined group of EM countries have never
been adequately synchronous to justify a combined allocation.
India has been a consistent positive outlier, as a growth economy,
delivering solid equity returns over a full business cycle.
While Jim O’Neill saw the futility of the BRICS concept and
extinguished it, the investing world seems too lazy to let go of the
EM indices, despite the skewed and poor returns. The addiction to
convenient indices has prevented most FPIs from isolating
investments to India. The smarter FPIs have of course abandoned
the popular EM indices and have done the research to allocate to
India. The chart below shows that a statistically significant
portion of FPI exposure to India is through some combination of
global asset classes rather than stand-alone India.
Top three FPI mistakes
1. Lazy Allocation Strategy
3. Misunderstanding Valuation
A frequent gripe by FPIs is that India is too expensive compared to
other EMs. That is indeed a statement of fact as can be seen from
the chart below. The Price Earning (PE) multiple of India has
historically traded at a premium to that of the EM basket and
China. India commands a premium because of the following
reasons:
•
Policy and legal framework that has historically protected the
rights of minority shareholders
•
Independent Central bank and Judiciary
•
A functioning liberal democracy with regulatory predictability
•
High standards of corporate governance and transparency
This inability to recognize India’s growth trajectory is the biggest
mistake FPIs continue to make.
The second most persistent misstep of FPIs is the attempt at
market timing of EMs in general and India in particular. Despite
abundant evidence to the contrary, many FPIs continue to believe
that they can unfailingly pick the top and bottom of the market
cycle. They use all kinds of global, EM and India-specific indicators
to divine suitable entry and exit points. This trading mentality is
perhaps the biggest reason why FPIs on average tend to miss out
on India’s top performing days. However, given the miniscule
allocation to EMs in general, this error gets lost in the attribution or
the industry would have naturally corrected this mistake.
2. Market Timing
Praveen Jagwani has 30 years of experience in banking and investment
management. Based in Singapore, he has been in his current role for fourteen
years and has the mandate to build a global franchise for India centric assets.
He started his career with ANZ Grindlays Bank, working with them in India,
Australia and Bahrain across Credit, Consumer Finance, Systems & Private
Banking. Later at Standard Chartered, as the Chief Investment Officer for Middle
East and South Asia, he built the Wealth Management and Investment Advisory
business. He then joined Merrill Lynch in London and managed their Hedge Fund
& Private Equity Advisory business.
He holds an under-graduate degree in Computer Science, a Masters degree in
Operations Research and an MBA. In 2002, he completed the Chartered Financial
Analysis (CFA) program.
On the personal front, he enjoys squash, trekking and meditation.
41
34
137
92
281
300
250
200
150
100
50
India
dedicated
funds
Asia-ex
Japan
Emerging
Market funds
Global
equity
funds
Others*
AUM (USD Billions)
*Others: SWF/Hedge Funds/Endowments/Pension/Insurance etc buying few stocks directly
India FPI AUM in Nov'22: USD 585 Billion
Sources for the article: Data used from NSDL, NSE, UTI Research, Motilal
Oswal Research, Morgan Stanley
Even though Indian equities have always traded at a valuation
premium, Indian equities have delivered returns far more than
China and EMs. For most FPIs this seems to be a mystifying
conundrum. They exhibit nervousness about India’s high multiple
and shy away from investing only to regret later when markets
move even higher. One reason for this odd behaviour is that these
FPIs start the investing decision by looking for cheap assets. India
never features in the list of inexpensive markets and therefore
many FPIs miss out on India’s economic boom.
FPIs historically have tended to dabble in Indian equities instead
of committing patient capital. Till such time they don’t carve out a
separate allocation to India and devote appropriate research
resources, they should expect mediocre returns. Attempting to
time the market has never delivered consistent returns in any
market and India is not different. Agonizing over valuations
prevents a deeper study of the market and its growth drivers,
thereby depriving FPIs of material wealth-creation opportunities
in Indian equities.
Summary
Global
FORUM VIEWS - JANUARY 2023
e live in era of digital transformation where the
internet as we know it is being entirely
Wreshaped. Web3 and the metaverse are
transformimg work and business models as we know will
you be ready to seize the opportunities and benefit from the
new iteration of the internet.
First let s deep dive into what makes Web3 beyond a
technology a social movement that promises a
decentralized future that is more equitable, so we can
understand how is it transforming how we collaborate.
Unlike the early internet (static content) and Web2.0
(user-generated content), both of which were owned
and managed by singular entities, the ownership
and management of Web3 data and platforms is
distributed.
Web3 aims to do what the internet has failed to do until this
point: promote open services powered by decentralized
protocols instead of centralized applications controlled by
tech behemoths. Web3 can be seen as the
“read/write/own” version of the internet - users can link
programs and content directly, bypassing central
intermediaries. Open services built on Web3 promote
permissionless entry, optimize value and guarantee
verifiability. These services are far more resilient, fair and
ethical.
Rather than accessing tech platforms in exchange for
monthly fees and personal data, users participate in the
governance and operation of the protocols themselves.
Participants are true network stakeholders rather than just
customers or products exploited by economic pressures.
Insights
FUTURE OF WORK!
DAOS (DECENTRALIZED AUTONOMOUS ORGANIZATIONS)
RESHAPING THE TRADITIONAL ORGANIZATIONS!
Leila Hurstel
Chief Metaverse Officer
Verse Estate
AllStarsWomen DAO
In this environment, tokens or cryptocurrencies represent
accessibility, governance and ownership of decentralized
networks. Whereas in Web2 you are the product, in Web3
you are the owner.
One incarnation of Web3 philosophy is found in DAOs-
Decentralized, Autonomous Organizations.
Starting an organization with someone that involves
funding and money requires a lot of trust in the people you're
working with. But it’s hard to trust someone you’ve only
ever interacted with on the internet. With DAOs you don’t
need to trust anyone else in the group, just the DAO’s code,
which is 100% transparent and verifiable by anyone.
But why we need DAOs?
We live in era of digital
transformation where the
internet as we know it is being
entirely reshaped. Web3 and the
metaverse are transformimg
work and business models as we
know will you be ready to seize
the opportunities and benefit
from the new iteration of the
internet.
(Dubai, UAE)
Founder
(Initiative to help close the gender gap
in the tech space and Web3 industry)
FORUM VIEWS - JANUARY 2023
This opens up so many new opportunities for global
collaboration and coordination.
DAOs are an effective and safe way to work with like-
minded folks around the globe. Think of them like an
internet-native business that's collectively owned and
managed by its members. They have built-in treasuries that
no one has the authority to access without the approval of
the group. Decisions are governed by proposals and voting
to ensure everyone in the organization has a voice.
that means no one can spend the money without the
group's approval either. This means that DAOs don't need a
central authority. Instead, the group makes decisions
collectively, and payments are automatically authorized
when votes pass.
This is possible because smart contracts are tamper-proof
once they go live. You can't just edit the code (the DAOs
rules) without people noticing because everything is
public.)
To understand what is the power of a DAO and why over
time they will replace traditional organizations, we need to
understand the weakness in modern corporation and how
they are governed.
Today if we look at traditional companies they have five
core structural characteristics, that make them productive
and efficient:
legal personality, limited liability, transferable shares,
centralised management under a board structure, and
shared ownership by capital contributors.
however these companies are not governable and that’s a
fundamental problem. Because of the divergent interests
between shareholders, managers and external
stakeholders and Despite robust internal processes
outlined in company constitutions and the codification of
industry best practices in legislation, empirical analyses
suggest that modern corporations remain susceptible to
failure.
We need incentive mechanisms and structural safeguards
to overcome this issue and this where lies the power of
DAOs.
DAOs ostensibly eliminate agency costs due to the absence
of a board of directors, automated governance mechanisms
and transparency provided by the blockchain upon which
the DAO is launched.
Rather than decisions being made by a board of directors,
governance rules set out in code typically decentralise the
decision making power across DAO token holders. As these
token holders are the owners of the DAO, the division
between capital and labour is reduced. DAO proponents
argue that DAO token holders do not face the same agency
relationship that company shareholders face through
delegated decision making. Instead, token holders
contribute to the DAO in a non-hierarchical, “dynamic set of
working relationships that continuously and dynamically
self-organize around projects and outcomes.
The metaverse seems set to
reshape the world of work in
at least four major ways: new
immersive forms of team
collaboration; the emergence
of new digital, AI-enabled
colleagues; the acceleration
of learning and skills
a c q u i s i t i o n t h r o u g h
virtualization and gamified
technologies; and the
eventual rise of a metaverse
economy with completely
new enterprises and work
roles.
There's no CEO who can authorize spending based on their
own whims and no chance of a dodgy CFO manipulating the
books. Everything is out in the open and the rules around
spending are baked into the DAO via its code.
Unlike traditional organizations DAOs are transparent,
inclusive and democratic.
Before starting or joining a DAO you need to fully
understand how DAOs work.
The backbone of a DAO is its smart contract. The contract
defines the rules of the organization and holds the group's
treasury. Once the contract is live, no one can change the
rules except by a vote. If anyone tries to do something that's
not covered by the rules and logic in the code, it will fail. And
because the treasury is defined by the smart contract too
10
FORUM VIEWS - JANUARY 2023
Also the difficulty in altering smart contracts once they are
validated in the blockchain decreases the potential for self-
dealing or opportunistic behaviour by modifying the smart
contract code. Secondly, in theory, DAO token holders are
solely incentivised to perform work that will increase the
value of their token. In essence, this means that it is against
their interests to act opportunistically given that this could
potentially undermine the value of their tokens.
DAOs undoubtedly creates a more robust organisation.
Attitudes are ever-changing and with increasing exposure
of the flaws in existing hierarchical structures, DAOs may
become the preferred organisational form.
Let s examine what the future holds once we all shift to the
DAO model.
DAOs will defenetly transform the way we work giving us
the Freedom to Do More Fulfilling Work, have More
Decision-Making Power and work from anywhere. While
85% of today’s global workforce is disengaged at work,
DAOs will give people more freedom to choose projects
whose mission and vision truly resonate with them, jobs
that align with their strengths, and values-aligned people to
work with. This could also help to mitigate the work-life
conflicts, excessive workloads, lack of autonomy, and
office politics that drive workplace stress.
As DAOs proliferate, instead of having one employer and a
40-hour workweek, we’ll likely contribute several hours a
week to several DAOs. The technology-centric nature of
DAOs will result in rudimentary, algorithmic work being
automated, freeing contributors up to be the most creative
and useful versions of themselves and allowing them to
spend more time on high-value activities - the type that
stimulate the flow state - and less time on monotonous,
shallow tasks. Instead of working from a central office all
year long and having two to four weeks off, most DAO
contributors will instead work remotely from anywhere -
which means that we’ll also be able to live anywhere we
choose. At its core, Web3 promises more fulfilling and
outcomes-focused work, with a fairer distribution of
ownership and rewards.
By eliminating hierarchy, DAOs are rebuilding trust in our
democratic system that have been damaged and will
ultimately empower women and minorities on a global
scale. Daos will eventually become the ethical system we
need to unite and govern humanity.
There are few technical hurdles and legal challenges that
we will need to overcome before mainstream adoption
appears.
DAOs face significant hurdles to public awareness and
recognition largely because a majority of countries do not
recognize the DAO as a legal entity.
The decentralized structure and automated operations of a
DAO raise complex questions about the determination of
applicable law, corporate status, and external actions that
cannot be adequately answered using classical theories.
According to the current legal situation, one of the greatest
risks is the nearby classification of DAOs in most
jurisdictions as some kind of general partnership due to
their structure. This has the personal and unlimited liability
of all participants involved as a consequence. Since many
consumers participate in such DAOs, a legally secure
framework should be created for consumer protection
reasons alone, which eliminates this often-unknown
liability risk. For example, the state of Wyoming in the U.S.
already enacted a law in July of this year that allows DAOs
to be formed as a limited liability company with recognition
of legal personality, namely as so-called DAO LLCs.
When it comes to the metaverse, wich is not to be confused
with web3, the metaverse is not a place but rather an
experience, the internet is becoming more immersive thx to
technologies like AR and VR, where users are able to
interact in real time so imagine connecting with colleagues
beyond 2D screens in the metaverse.
While the metaverse will likely represent an avenue of
escape and entertainment for many, it will help enable
endless possibilities from immersive education, healthcare,
tourism, manufacturing, to 3D commerce... and all our
major activities there's the potential for it to be a valuable
business tool.
With the shift to remote working from the pandemic,
keeping employees engaged has become a top challenge
for many companies. That is why many are turning to
metaverse-based platforms.
The metaverse seems set to reshape the world of work in at
least four major ways: new immersive forms of team
collaboration; the emergence of new digital, AI-enabled
colleagues; the acceleration of learning and skills
acquisition through virtualization and gamified
technologies; and the eventual rise of a metaverse
economy with completely new enterprises and work roles.
A metaverse virtual space, supported by a location
intelligent digital twin of the workplace, could be a more
immersive, connective bridge between home and office.
For instance, virtual reality could be used to train
employees in a replicated space or even to unite a
geographically fragmented staff for real-time collaboration.
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