Technology And Innovation: 10 Buzzwords You Should Know In 2022

Bitcoin, Metaverse, Defi and NFTs, these are some of the buzzwords and lingo that have been casually slung around by almost everyone today.

But do you really know what they actually mean and how these technologies can actually change the world as we know it?

As we move from a digital present towards a virtual reality future, keeping up with technology and all its marvellous applications in our world.

Here’s our list of the most essential technology buzzwords you should know and research deeper into!

10 Technology Buzzwords To Know In 2022 And Beyond!

1. Metaverse

With Facebook rebranding to Meta to enter the Metaverse, everyone is wondering what it actually is.

The metaverse is simply a network of 3D virtual worlds woven together that is focused on social connection and interaction based on creating communities.

In this digital world, you can do everything from interacting with other users, customising your own avatar, shopping and even gaming together. Think of it as a whole separate reality where you can live your 2nd-life.

2. Cybersecurity Mesh

Cybersecurity mesh is a flexible, composable architecture that strengthens digital security by combining and integrating different security services today.

These integrate a whole network of firewalls, password protection, authorisation approval and more that allows people to function in a ‘zero trust environment’.

Think of it as multiple layers of protection that will help protect your key information, especially financial, from potential hackers and digital exploits.

3. DeFi

DeFi stands for decentralised finance is an emerging financial technology that gave birth to cryptocurrencies such as bitcoin and Ethereum.

Consumers are attracted to DeFi because it promises to eliminate the fees that banks usually charge for their services, you can keep your money outside of the financial system and you can instantly transfer funds anywhere across the world without any prior approval.

Everything is secured through the blockchain and DeFi makes peer to peer transactions accessible and secure.

4. Fractionalised NFT

We all know what NFTs are, they are non-fungible tokens but because of the hype and interest piling on, they are getting incredibly expensive.

It is not uncommon for an NFT artwork to be priced in the tens of thousands of dollars making it rather difficult for most people to own one.

Fractionalised NFTs allow multiple people to own part of an NFT. The NFT is carved into smaller fractions, allowing more people to purchase it.

5. Extended Reality (XR)

Extended reality essential means immersive technologies that can merge our physical and virtual worlds.

Today this already means trying on clothes virtually or through an augmented reality mirror, but tomorrow this could be shopping for a new home anywhere on Earth but as if you were on-site in the home itself!

This is a future technology that could change the way we shop forever!

6. Web3

We all know and use the internet, but Web3 is essentially an interaction of the World Wide Web, based, however, on the blockchain.

This means there will be more decentralisation and token-based economics. This means that there will be no one person who is in complete control of the data and they can’t alter it without the permission of the entire distributed network.

This helps to add an additional layer of trust and security to the internet.

7. Decentralised Autonomous Organization (DAO)

A DAO essentially is a decentralized autonomous organization whose rules are encoded as part of a computer program that is transparent.

This means there will be no centralised leadership that can dictate or change the rules on a whim.

Individuals can now collaborate together safely and with total trust and transparency.

8. Hyper Automation

Hyper automation is a disciplined approach for organisations to rapidly identify and automate as many business and IT processes as possible.

In order to accomplish this at scale, it means utilising the power of data analytics combined with artificial intelligence and machine learning to help identify opportunities and implement changes simultaneously.

9. Distributed Cloud

A distributed cloud is an architecture where multiple cloud environments are used to meet business and performance requirements.

Essentially this means running cloud services in multiple locations. This allows businesses to run their digital business and processes with greater efficiency and more reliability.

10. 6G

5G is already here and it's faster than ever. But as we move towards a world where VR, AR and the metaverse is fast approaching, faster and higher speeds are necessary.

6G is going to be the next standard for wireless communications that will incorporate blockchain technologies, artificial intelligence and edge computing to ensure low latency and speeds are not just fast, but reliably fast!

Prepare For The Digital & Metaverse Future With IDP

The world is fast evolving into the era of virtual reality where digital interactions will take over.

And with that comes incredible opportunities for students looking to establish a career in tomorrow’s industries.

At IDP, we can help you take that first step towards a course that will help cement your place in the future-proof industries of tomorrow.

Our experienced team of education counsellors are here to answer all your questions and assist you!

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