By arohi
Web 3.0, blockchain, metaverse, and metaverse have three decentralized is the latest technologies in healthcare.
As of 1st April 2022, the Indian government began taxing cryptocurrency asset gains. Imposing a hefty 30% tax on cryptocurrency trading income and a 1 % TDS levy on every digital operation. However, the Indian government has also clarified that upcoming technologies like blockchain, augmented reality (AR), metaverse, and web 3.0 are not presently taxed.
Officials said the Indian government is conscious of emerging new technologies such as artificial intelligence (AI), blockchain, drones, augmented reality (AR), metaverse, decentralized, and web 3.0, adding that nationwide strategies for them have already been formulated as the government has no meaning of regulating them such rising sectors.
So now the question arises what are these emerging Web 3.0 technology applications, and how do they together form the subsequent iteration of the Internet, dubbed “Web 3.0”? Given below are the technologies in the healthcare landscape:
• Metaverse: This technology in healthcare enables people to relate with each other and brands by using virtual 3D avatars in a virtual animated globe. Think of it as a copy of the ordinary world, but with slight differences. For example, Manchester City FC lately unveiled plans to construct their Etihad Stadium copy in the metaverse globe. This would permit their fans that couldn’t otherwise go to Manchester to observe a football game exist in 3D. In addition, there are plentiful brands, fashion labels, and others, who are exploring opportunities in the metaverse globe.
• NFT: Non-fungible tokens are not anything but an exclusively locked token of a particular crypto blockchain’s native token. Any sort of data can be stored as an NFT, counting, but not restricted to movies, art, music, autograph, house property records, and many others. At current, the mainly well-liked crypto blockchain for NFT is Ethereum (ETH), followed by Solana (SOL). The data on NFT is non-fungible, meaning that it cannot be replicated by anybody else. People can sight, share, and swap it, but cannot duplicate it.
• Decentralized Gaming (GameFi): Decentralised gaming is not anything but a game where all the data is stored on a blockchain as the technology in healthcare, and users who play the game will vote upon its features. For example, in the Axle Infinity Game, players can get AXE crypto tokens for carrying out certain tasks, and then they can stake that, i.e., lock them up for voting rights. There can be frequent decisions, counting but not limited to gameplay mechanics, game graphics, content, and many others, where players can vote using their staked AXE token. So, in essence, the web 3.0 gaming experience will be consumer-centric, and the center will be on using the game as a service and not a separate product.
• Decentralized Finance (Defi): Decentralised finance is a procedure in which users can lend or have a loan of money (both crypto and fiat currency) for earning some profits. The only difference between centralized financial institutions such as banks, others, and decentralized finance institutions such as AVAX, YFI, AAVE, and others is that the whole operation happens using smart contracts and on the blockchain.
• Decentralized Science (desc): Although the pandemic is currently almost at an end, back when it started, scientists and researchers were working tough to discover a vaccine for Covid-19. So, researchers used blockchain to stock up and classify huge amounts of data relating to the virus’s DNA genome sequencing and other scientific data. Apart from this, the supply and logistics of the vaccine were also managed in several parts of the world using blockchain technology, so that counterfeit vaccines are not dispersed and/or authentic vaccines do not end up getting shattered. Since the whole data was obtainable obviously and securely, DeSc forms part of the next generation of the Internet, i.e. Web 3.0 technology in healthcare.
