Vodafone is a multinational telecommunications company headquartered in London, United Kingdom. With operations spanning across Europe, Africa, the Americas, and Asia-Pacific, it is one of the largest telecommunications providers in the world. Vodafone offers a wide range of services, including mobile and fixed-line connectivity, internet services, and enterprise solutions – now branching out into the infrastructure of the metaverse.
The Metaverse Insider had the pleasure of interviewing David Palmer, the esteemed blockchain lead at Vodafone. With his deep knowledge of blockchain technology and its applications, Palmer offers invaluable insights into how Vodafone envisions the Metaverse’s future and its implications for the telecommunications industry. In Part 2 of the interview, Palmer addresses the potential of mobile phone numbers as an interoperable identity, the importance of blockchain technology in helping facilitate this, and his personal thoughts on the future of the metaverse.
Using Mobile Phone Numbers as an Interoperable Identity
Palmer discusses two main projects currently underway at Vodafone. The first project is the development of a metaverse showroom. He believes that this project has a strong business case and potential. While he doesn’t delve into specific details about the metaverse showroom, it can be inferred that Vodafone is working on creating a virtual space within the metaverse to showcase products, services, or experiences.
The second project focuses on utilizing the phone number as an interoperable identity. Palmer highlights its significance by addressing two key aspects:
- The first aspect is the governance of the metaverse. By utilizing the phone number as an identity, Vodafone aims to establish systems for policing and governing activities within the metaverse. This involves traceability, enabling the ability to link activities back to specific individuals or organizations.
- The second aspect is interoperability. Using the phone number as an identity allows for seamless interoperability between different platforms, services, and applications within the metaverse. It facilitates the exchange of data, enables easy identification, and promotes smooth interactions between users and various metaverse entities.
Palmer explains that the phone number as an identity has existing features and capabilities behind it, such as legal and regulatory frameworks, compliance with KYC and AML requirements, and authentication mechanisms. Leveraging these existing functionalities associated with phone numbers can help establish a foundation for identity verification and traceability within the metaverse.
Furthermore, Palmer mentions the potential of reusing the roaming network Vodafone already has in place, which currently handles data consumption for users. By utilizing this network and integrating the phone number as an interoperable identity, Vodafone aims to enable seamless connectivity, data usage, and identification across the metaverse.
The Importance of Blockchain Technology
Palmer discusses the potential role of blockchain in transforming identity verification processes. He suggests that in order to achieve self-sovereign identity, blockchain technology can be leveraged to drive identity verification through verifiable credentials.
Current verification methods are outdated, rooted in legacy processes from the Victorian age, such as paper documents and physical signatures. However, in a digital world, where verifications are logged digitally, these traditional methods make no sense. Palmer emphasizes the need for a shift towards automated identity and credential verification in the metaverse – envisioning a future where passports, travel documents, utility bills, credit scores, and other credentials are completely digital and can be verified automatically under the user’s control:
“In the metaverse, you won’t have someone who can give you a paper document in there, right? You’re not going to have paper documents. So, you need to move to a position where your identity can be verified automatically, and your credentials can be verified automatically.”
Palmer believes that blockchain, along with emerging technologies like decentralized identifiers (DIDs) and verifiable credentials, can provide a solution to this problem. Whilst acknowledging that widespread adoption of these technologies is a challenge, Palmer suggests that existing technologies like mobile phones, mobile connect, and other widely adopted solutions can act as catalysts to kickstart the transformation.
The Future of NFTs for the Metaverse
Non-Fungible Tokens (NFTs) have gained significant attention in recent years, offering unique digital assets with potential benefits across various industries. However, they also reside in a grey area, posing challenges while presenting opportunities for innovation. Palmer’s forward-looking perspective suggests that we are only scratching the surface of the immense potential NFTs hold.
“I believe for NFTs, we’re only beginning to see the potential of what they can do.”
One compelling application Palmer discusses is NFT ticketing, which seamlessly bridges the gap between real-world and virtual experiences. This innovative approach allows individuals to purchase tickets in the physical realm that grant access to corresponding virtual experiences, and vice versa. By blurring the boundaries between these two realms, NFTs offer unprecedented possibilities for cross-dimensional engagement.
Furthermore, Palmer envisions NFTs extending beyond ticketing into areas such as ownership rights, educational certificates, and document authentication. These digital assets can be stored, transferred, and verified with ease, fostering a seamless flow of assets and information between the metaverse and the physical world.
Palmer emphasizes the necessity of a comprehensive approach to the metaverse, underscoring the importance of considering existing real-world systems and regulations. This includes integrating established mechanisms like land registries and trademark rights, which ensure proper governance and legal recourse. By harmonizing the metaverse with these frameworks, the potential of NFTs can be fully harnessed.
The metaverse, as Palmer envisions it, will be an amalgamation of various components. Established entities from Web 2.0, such as social media platforms, big corporations, and global brands, will coexist with emerging players and new business ventures under the umbrella of Web 3.0. This convergence of diverse actors promises a vibrant and dynamic metaverse ecosystem:
“It will be a mesh of all of them for this to really take off. You know, social media as we know it, web 2.0, exists in the metaverse? Yes. Will Web 3.0 exist in the metaverse? Yes. Will big companies and global corporations be there? Yes. Will brands be there? Yes. Will new brands be there? Yes. Will new businesses be there? Yes.”
While the future winners and losers in this space remain uncertain, Palmer expresses his belief that the participation of all stakeholders is vital for the successful adoption and evolution of the metaverse. By fostering collaboration and embracing the transformative power of NFTs, the metaverse has the potential to redefine the way we interact, transact, and explore both the virtual and physical realms.
What is to come for Vodafone?
Vodafone, a telecommunications giant, is currently undergoing a remarkable transformation into a technology-driven entity – a shift that promises an array of possibilities for the future. Palmer passionately highlights the immense potential that lies ahead for the company. With a strategic focus on becoming a platform organization, Vodafone is poised to spearhead groundbreaking innovations that will redefine the landscape of the industry.
A key aspect of this transformation is the digital asset broker, an innovative platform rooted in the robust foundation of blockchain technology. Palmer shines a light on the significant role played by this digital asset broker, which acts as a gateway to an expansive economy of things. By leveraging this platform, Vodafone enables seamless transactions and interactions in an interconnected world. This breakthrough unlocks a host of possibilities, creating a thriving ecosystem that fosters seamless collaboration and efficient exchanges. Keep an eye out for Vodafone – they are certainly a major player in the field.
