The telecom industry finds itself at a pivotal moment as the rise of Web3 technology presents both challenges and exciting opportunities. Web3 represents the next generation of the internet, underpinned by the revolutionary blockchain technology. This innovative shift promises a more decentralized, secure, and transparent online ecosystem, and its potential impact on the telecom sector is profound.

## Web3's Potential Applications in the Telecom Industry:

1. **Smart Contracts**\
   \
   Smart contracts are self-executing agreements stored on the blockchain, and they hold tremendous potential for the telecom industry. With Web3, telecom companies can leverage smart contracts to automate billing and payment processes seamlessly. For instance, a smart contract can be set up to automatically bill customers for their monthly phone usage, ensuring a transparent and fair payment system. Additionally, smart contracts can facilitate contract execution, minimizing disputes and enhancing customer trust.

   ![](img/eb7595c532ab88d30ec94af610d7bd49.jpeg)


2. **Decentralized Applications (DApps)**\
   \
   DApps, running on the blockchain, introduce an exciting possibility for telecom companies to reimagine their services. In contrast to traditional applications controlled by central authorities, DApps offer heightened security, privacy, and user-friendliness. One practical example would be a DApp-powered decentralized phone network, allowing users to communicate directly without relying on a telecom company's central infrastructure.
3. **Blockchain-Based Identity**\
   \
   Web3's blockchain-based identity solutions can significantly bolster security and privacy for telecom services. With blockchain-based identity verification, users' credentials become immutable, reducing the likelihood of identity theft and fraud. This enhanced authentication process ensures a safer and more reliable user experience across telecom services.\
   \
   `<A blockchain-based identity system enables data minimization meaning that people can have the option to only share parts of a credential needed by the verifier such as being able to show the city they live in without revealing their whole address./>`
4. **Decentralized Network Management**\
   \
   Blockchain technology can pave the way for more secure and decentralized network management in the telecom sector. By implementing blockchain-based tracking and traffic management, telecom companies can thwart potential cyberattacks and provide tailored services to different customer segments. This level of customization ensures a better user experience while safeguarding network integrity.

   ![](img/10-ip-20eel_0.jpeg)



## Web3's Challenges and Opportunities

Embracing Web3 presents the telecom industry with a set of challenges to overcome. Adapting to decentralized networks, understanding complex blockchain technology, and developing new business models will require significant effort and investment. Moreover, regulatory compliance, data privacy, and interoperability challenges are critical aspects that need to be addressed.

However, the potential opportunities for growth and innovation are immense. Telecom companies that successfully integrate Web3 technology into their operations will enjoy a competitive advantage. They can expand their service offerings, provide greater value to customers, and establish themselves as frontrunners in the evolving landscape.

<iframe src="https://giphy.com/embed/DOd7KeETYmyrWWPj03" width="480" height="314" frameBorder="0" class="giphy-embed" allowFullScreen></iframe><p><a href="https://giphy.com/gifs/PermissionIO-web3-web-30-what-is-DOd7KeETYmyrWWPj03">via GIPHY</a></p>

## Showcases of Web3 Implementation in the Telecom Industry

1. **Vodafone:** Vodafone is at the forefront of developing a blockchain-based identity management solution, granting users greater control over their digital identities. This technology not only enhances online security but also simplifies the verification process for various telecom services.

   ![](img/360_f_406217669_hni3f6ggycbzubogwhx4rqqlfiez20xa.jpeg)
2. **Telefónica:** Telefónica's "WeMobile" project aims to leverage blockchain technology to create a more secure and transparent mobile payments system. This initiative ensures a smoother and safer financial experience for customers while reducing the risk of fraud.

   ![](img/sdncs4yskfptzjh5kcqpp2e2wq.avif)
3. **Ericsson:** Ericsson is working on a groundbreaking blockchain-based network slicing solution. This innovation allows telecom companies to tailor service levels to individual customers, prioritizing business clients over residential users, for example.

   ![](img/ericsson_headquarters_sweden_gettyimages-1195704103-1109x624.jpeg)


4. **Verizon:** Through its "5G Edge" project, Verizon explores blockchain's potential to create a secure and decentralized network infrastructure. This endeavor may unlock transformative applications, such as self-driving cars and remote surgery, powered by 5G technology.

   ![](img/verizon-5g-edge.avif)

## The Road Ahead

While the future of Web3 in the telecom industry remains uncertain, the potential it holds for transforming the sector is undeniable. By embracing Web3 and harnessing its capabilities, telecom companies can position themselves for sustained growth and success. As the world progresses towards a more decentralized and transparent future, Web3 presents the telecom industry with a frontier of unprecedented possibilities. 

It's essential for telecom companies to invest in research, development, and collaboration with key technology partners to unlock the full potential of Web3 and secure their position as pioneers in this revolutionary evolution.

Discover the revolutionary impact of Web3 in the telecom sector! Explore smart contracts, DApps, and blockchain-based solutions reshaping the industry. Read more at The Cymes Media

Web3 in the Telecom Industry: The Next Frontier | The Cymes Media

The Crunchbase Unicorn Board welcomed ten fresh faces in May 2023, doubling April's count, yet trailing behind May 2022's substantial total of 34. These new unicorns were unveiled in an investment climate where leading unicorn investor, [Tiger Global](https://www.crunchbase.com/organization/tiger-global), contemplates offloading its private company stakes as unicorn portfolio evaluations continue to be revised downwards.

![](img/знімок-екрана-2023-06-18-о-20.05.57.png)

Of the ten additions, nine different industries are represented with AI claiming two spots at the top. The remaining unicorns each represent a distinct sector, including energy, biotech, robotics, enterprise SaaS, and transportation.

Half of the new unicorns originated from the U.S., with two emerging from China, while Canada, Indonesia, and Japan each contributed one. The month of May saw $5 billion of the total $22 billion global venture funding allocated to these unicorn companies, which is less than half of the $11 billion acquired by unicorns in May 2022. 

![](img/знімок-екрана-2023-06-18-о-20.06.14.png)

The biggest funding for the month was secured by [Shein](https://www.sheincorp.cn/), a fast-fashion e-commerce platform, raising $2 billion in one round at a decreased valuation of $66 billion.

***Here are the newcomers:***

## AI 

Toronto's [Cohere](cohere.com), an AI-based large language model creator for enterprises, raised $270 million in its Series C funding round, led by [Inovia Capital](https://www.inovia.vc/). This has valued the 4-year-old company at $2.2 billion. 

New York's [Runway](https://runwayml.com/), an AI firm specializing in generative video, secured $100 million in a Series D round led by [Google](https://thecymes.com/article/googles-bard-chatbot-made-a-factual-error-during-its-first-demo-the-mistake-cost-the-company-100-billion), achieving a valuation of $1.5 billion.

Another notable AI startup that warrants attention is IDvizer, a facial recognition technology provider striving to revolutionize business security solutions. Their latest offering, IDvizer's Fastest Face ID, is a B2B identity recognition platform that verifies end-users in less than a second, irrespective of the device in use. This product has made waves in the AI industry for its innovative approach to security and its ability to deliver unique user experiences across various fields. [Learn more about IDvizer and its Fastest Face ID in our previous article](https://thecymes.com/article/a-brand-new-way-for-businesses-to-verify-users-idvizer-builds-the-fastest-face-id).

## Energy 

[Ryefield Energy](https://www.fox-ess.com.cn/), a China-based battery energy storage firm, raised $140 million led by [Sparkedge Capital](https://www.crunchbase.com/organization/sparkedge-capital), reaching a valuation of $1.4 billion.

## Agtech 

[eFishery](http://efishery.com/), an Indonesia-based developer of IoT feeding devices and an e-commerce platform for aquafarmers, raised $108 million in a Series D round led by Abu Dhabi PE fund [G42 Expansion Fund](https://www.42xfund.com/), reaching a valuation of $1.3 billion.

## Cleantech 

Gradiant from Massachusetts, a company dedicated to aiding water-dependent enterprises in wastewater reduction and treatment, secured $225 million in a Series D round led by BoltRock Holdings and Centaurus Capital, thereby valuing the company at $1 billion.

## Enterprise SaaS 

Restaurant365, an Irvine, California-based restaurant management software firm, secured $135 million, hitting the $1 billion valuation mark. The funding round was led by private equity firms Kohlberg Kravis Roberts and L Catterton.

## Proptech 

New York-based Avenue One, a proptech firm providing a comprehensive service platform for rental property buyers, raised $100 million led by WestCap. This round valued the company at $1 billion.

## Transportation 

GO, Tokyo's premier ride-hailing app, secured $72 million in a Series D round led by Goldman Sachs, which valued the company at $1 billion.

## Robotics 

Zhiyuan Robotics, a Shanghai-based humanoid robot developer, raised a funding round led by Baidu Capital, achieving a $1 billion valuation. The exact amount raised remains undisclosed.

## Biotech 

Chicago's VectorBuilder, a firm specializing in gene delivery technology, completed a funding round that saw the company reach a valuation of $1 billion.

Correction: Cohere's funding round has been updated to $270 million and its valuation to $2.2 billion based on an updated funding announcement.

[The Crunchbase Unicorn Board](https://www.crunchbase.com/lists/exited-unicorns/9436a996-90a9-40bc-91c0-a7d239de07f1/organization.companies) is a curated list of privately-held unicorn companies valued at $1 billion or more, based on Crunchbase data. Additions are made as companies hit the $1 billion mark during funding rounds. Internal company valuations are not reflected, as these often differ and are usually lower than a priced funding round. Adjustments are not made for investor writedowns, which vary quarterly, as different investors may not consistently value the same company within the same quarter.

Please note that all funding values are in U.S. dollars unless specified otherwise. Foreign currency transactions are converted at the historic spot price even if they were added to Crunchbase long after the event was announced.

Illustration: Dom Guzman\
Photo by [Alex Rybin](https://unsplash.com/@alexrybin?utm_source=unsplash&utm_medium=referral&utm_content=creditCopyText) on [Unsplash](https://unsplash.com/images/animals/unicorn?utm_source=unsplash&utm_medium=referral&utm_content=creditCopyText)\
\
*Note: The information provided in this article is sourced from Crunchbase News, and presents an analysis of the emerging unicorns and investment trends in May 2023*


 Explore the dynamic shift in the unicorn landscape in May 2023, featuring an increase in AI startups, fluctuating venture funding trends, and diverse industry representation. Get detailed insights into the new unicorns' origin, industry, and valuation.

May 2023 Unicorn Expansion | AI Dominance & Global Venture Funding Insights

May's Double-Digit Unicorn Growth Highlights Two AI Players

[HYFI 2024 Singapore](https://www.hyficonference.com/), an exclusive one-day future-tech event, is set to take place on the 7th of March 2024 at the prestigious ONE°15 Marina. With the tagline "Beyond Boundaries: Web3, AI, and the Future of Technology," this conference aims to bring together leaders and innovators in the fields of AI, fintech, traditional finance, and Web3 to discuss the future of the industry. 

The conference offers a unique networking environment where participants can engage with industry leaders, gain profound insights, and create lasting connections. With a focus on innovation, networking, and bespoke experiences, HYFI 2024 Singapore promises to be an extraordinary moment that combines sophistication with cutting-edge technology. 

![](img/agenda-.png)

The agenda for the day includes a range of activities designed to foster learning, collaboration, and inspiration. Attendees will have the opportunity to participate in panel discussions, listen to keynote speeches, explore an exhibition showcase, witness start-up pitching sessions, and network at a vibrant networking party. Additionally, a Michelin-starred private dinner and a yacht party will provide exclusive experiences for participants to unwind and connect with industry peers. 

"*We are thrilled to bring together thought leaders and visionaries in the field of future-tech for HYFI 2024 Singapore,*" said Christopher Low, Chairman of Novum Group. "This event will be a platform for knowledge exchange, networking, and exploration of the limitless possibilities that lie ahead in Web3, AI, and the future of technology. We invite all industry professionals to join us as we redefine the boundaries of future-tech." 

HYFI 2024 Singapore is expected to attract an estimated 500 participants, including industry experts, entrepreneurs, investors, and technology enthusiasts. With its prime location at ONE°15 Marina Sentosa Cove, this event promises an exceptional experience in a breath-taking waterfront setting. 

To be a part of this extraordinary moment and explore the future of technology, visit [www.hyficonference.com](https://www.hyficonference.com/) for registration and further information. Limited slots are available, so secure your spot today and join us as we embark on a journey to redefine the boundaries of the future-tech landscape. 

**About HYFI:**\
HYFI is an annual conference that brings together leaders and innovators in AI, fintech, traditional finance, and Web3 spaces to discuss and explore the future of technology. Through panel discussions, keynote speeches, networking opportunities, and bespoke experiences, HYFI aims to create a platform for knowledge exchange and collaboration among industry professionals. 

Press Contact:\
Phuong Nguyen 

[phuong@hyficonference.com](mailto:phuong@hyficonference.com) 

Telegram: @phuongnguyen08012

Join HYFI 2024 Singapore on March 7th, 2024, at ONE°15 Marina for an exclusive future-tech event. Explore the limitless possibilities of Web3, AI, and the future of technology. Engage with industry leaders, gain insights, and create lasting connections in a sophisticated and cutting-edge environment. Don't miss this extraordinary moment.

HYFI 2024 Singapore: Beyond Boundaries: Web3, AI, and the Future of Technology 

**The Metaverse Summit, an event pioneering in tech evolution, is poised to reveal a new epoch in the metaverse sphere**. This landmark happening, taking place from **21-22 September in Paris**, assembles a global ensemble of trailblazers, disruptors, and tech enthusiasts. The summit's mission is to sculpt the metaverse's future, presenting breakthroughs in AI, mixed reality, and Web3 decentralization, melding state-of-the-art tech with limitless creativity to define future digital interactions.

As the metaverse garners global spotlight with its fusion of artificial intelligence, mixed reality, and Web3 decentralization, the Metaverse Summit steps in as an epicenter of exploration and partnership for industry mavens, innovators, and creative geniuses.

## AI and Mixed Reality Paving the Way for Metaverse Uprising

With recent strides in AI and mixed reality technologies, the foundation for a groundbreaking metaverse uprising has been laid. Intelligent virtual domains merging physical and digital realities unlock unparalleled opportunities for collaboration, creation, and interaction among individuals, businesses, and communities. Metaverse Summit 2023 offers an avenue to explore these avant-garde technologies and their amalgamation within the metaverse sphere.

<iframe width="1080" height="608" src="https://www.youtube.com/embed/XL-p6t1gPIg" title="Metaverse Summit 2023 Teaser: Bridging Realities, Igniting Imagination" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe>

## Venturing into the Infinite Capabilities of AI in the Metaverse

As AI matures, its significance within the metaverse escalates. From AI-powered virtual personas to intelligent algorithms that enrich user experiences, AI tech integration offers boundless potential in transforming the metaverse scene. At the summit, thought leaders and specialists will dissect the transformative influence of AI in virtual environments, user personalization, content creation, and social interactions, offering attendees a myriad of possibilities to explore.

## Mixed Reality Experiences Fostering Creativity in the Metaverse

The seamless merger of physical and digital realities through mixed reality experiences presents an unrivaled canvas for creativity within the metaverse. The summit will spotlight how mixed reality technologies empower creators, artists, and designers to revolutionize storytelling, immersive entertainment, and interactive experiences. Attendees will experience fascinating demonstrations, acquire insights into pioneering projects, and discover the potential of mixed reality in transforming the metaverse's creative landscape.

## Web3 Decentralization: Equipping Individuals in the Metaverse

Web3 decentralization, founded on blockchain technology, signifies a paradigm shift in digital ownership, governance, and interactions within the metaverse. The Metaverse Summit will delve into the potential of Web3 and decentralized finance (DeFi), underscoring the importance of enabling individuals to command their digital identities, assets, and experiences. Attendees will glimpse the disruptive potential of Web3 in crafting a fairer, user-focused metaverse.

<iframe src="https://www.linkedin.com/embed/feed/update/urn:li:ugcPost:6955886848518856704" height="945" width="504" frameborder="0" allowfullscreen="" title="Embedded post"></iframe>

## A Gathering of Industry Gurus, Innovators, and Visionaries

The Metaverse Summit 2023 is assembling a diverse, influential congregation of industry gurus, innovators, and visionaries. Esteemed speakers will provide their insights, experiences, and visionary outlooks on the future of the metaverse. Attendees will engage in lively discussions, idea exchanges, and establish meaningful connections with peers from varied sectors, encouraging collaboration and propelling the metaverse ecosystem onwards.

## Illustrious Speakers and Industry Leaders Deliver Engrossing Keynotes and Panels

The Metaverse Summit 2023 will host a roster of esteemed speakers who are authorities in their respective fields. These thought leaders will offer compelling keynotes, sharing their extensive knowledge and visionary outlooks on the metaverse's future. Interactive and stimulating panel discussions and fireside chats will offer attendees the chance to converse with industry titans, exploring an array of metaverse-related subjects from diverse perspectives.

## Stage for Budding Metaverse Startups

The Metaverse Summit 2023 proudly provides a platform for budding metaverse startups to demonstrate their innovative products and solutions. Attendees will experience the innovative concepts and groundbreaking technologies propelling the metaverse evolution. This platform offers startups a priceless opportunity for exposure and connection with potential partners and investors.

## Networking Opportunities to Encourage Collaboration

Recognizing the importance of networking and collaboration in fueling the metaverse ecosystem's growth, the Metaverse Summit 2023 will feature dedicated networking breaks and social events. These tailored sessions aim to facilitate connections among attendees, fostering professional network expansion and valuable partnership formation.

## Metaverse Summit: Welcoming a New Epoch

Under the theme "Metaverse New Era, Emerging Tech, and Creativity," the Metaverse Summit is set to redefine the metaverse landscape by integrating the latest advancements in AI, mixed reality, and Web3 decentralization. This influential convergence of industry leaders, innovators, and creative minds endeavors to shape future digital experiences, thrusting the metaverse into a new age of infinite possibilities.

<iframe src="https://www.linkedin.com/embed/feed/update/urn:li:ugcPost:6955886848518856704" height="945" width="504" frameborder="0" allowfullscreen="" title="Embedded post"></iframe>

**`To learn more about Metaverse Summit 2023 and secure your spot at this pivotal event, please visit the official website at `[`https://metaverse-summit.org/`](https://metaverse-summit.org/)`.`**

Be part of the digital transformation as AI, mixed reality, and Web3 take the stage at the Metaverse Summit 2023. Connect with the brightest minds and explore the limitless potential of the metaverse universe.

Metaverse Summit 2023: Discover the Future of AI, Mixed Reality, and Web3

Metaverse Summit 2023: Where Innovation Meets Imagination in the New Digital Era

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