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

## Introduction

Hey tech enthusiasts! Get ready to embark on an incredible journey through time as we delve into the tech trends that defined the unforgettable 00s era and explore the mind-blowing advancements that are shaping our lives today. From nostalgic memories to cutting-edge innovations, this article is your ultimate guide to the tech revolution!

## The Tech Marvels of the 00s

![Image from FreePik](img/the-tech-marvels-of-the-00s.jpg "Image from FreePik")

Image from FreePik\
\
Remember the good old days when chunky computers and quirky mobile phones ruled the scene? Let's take a trip down memory lane and relive those exciting moments:

1. **Personal Computers: A New Era Begins**

Ah, the rise of personal computers! Dell, HP, and Apple were the talk of the town as they introduced sleek designs and powerful hardware, making PCs more accessible than ever. Whether for work or play, these magical machines transformed the way we interacted with technology.

2. **Mobile Phones: Flipping and Texting Fun**

Who could forget those iconic flip phones and candy bar designs? Nokia and Motorola were the kings of the mobile world, and we were obsessed with features like text messaging, polyphonic ringtones, and the addictive game Snake. Our phones were our style statements!

3. **Social Media: Connecting the World**

The dawn of social media brought a whole new dimension to our lives. MySpace, Friendster, and the game-changer, Facebook, allowed us to connect with friends, share updates, and dive into a world of online communities. It was the beginning of a social revolution!

## The Technological Marvels of Today

![Image by rawpixel.com on Freepik](img/the-technological-marvels-of-today.jpg "Image by rawpixel.com on Freepik")

Image by rawpixel.com on Freepik\
\
Now, let's fast forward to the present and discover the mind-blowing technologies that are rocking our world right now:

1. **Smartphone Revolution: The Pocket Supercomputers**

Hold onto your hats, folks, because smartphones have become our ultimate companions! Apple, Samsung, and Google are in a constant race to bring us sleek designs, lightning-fast processors, mind-boggling cameras, and AI capabilities that make our jaws drop. With these pocket-sized powerhouses, we can work, play, and capture stunning memories in a flash.

2. **Artificial Intelligence (AI) and Machine Learning (ML): Tech's Superheroes**

AI and ML have turned our world upside down (in a good way!). Virtual assistants like Siri, Alexa, and Google Assistant are now part of our daily routines, answering our questions and making our lives easier. But that's not all! Self-driving cars, predictive analytics, and personalized recommendations are just a glimpse of the magic that AI and ML have brought into our lives.

3. **Internet of Things (IoT): A Connected Universe**

Imagine a world where your home, car, and even your fridge are connected. Thanks to the Internet of Things (IoT), this is now a reality! Smart thermostats, voice-controlled speakers, wearable devices, and connected cars have made our lives way more convenient and exciting. We can control our surroundings with a simple tap on our smartphones.

## Conclusion

Of course, it's clear that technology has come a long way. The 00s laid the groundwork for the digital revolution we're witnessing now. But guess what? The future holds even more exciting possibilities, with emerging technologies like augmented reality, blockchain, and 5G on the horizon. Brace yourselves, because the tech journey has just begun, and the possibilities are endless!

Explore the tech trends of the unforgettable 00s era and discover the mind-blowing advancements shaping our lives today. From personal computers to smartphones, social media to AI, this article is your ultimate guide to the tech revolution of the past and present.

Back in Time with Tech! 00s Tech Trends and Today's Awesome Advancements

**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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