A quick guide to tech buzzwords you will need in 2022

The year 2021 was overall a mixed year in terms of business, opportunities despite pandemic highs and lows. With the year coming to an end, we are obviously entering 2022 with higher hopes, new goals, resolutions, and targets. However, another wave of coronavirus is still a sore point, and the coming year may see some further restrictions and slowdown in the global economy.

As more and more people are spending time online due to the changing market dynamics and office norms, a lot of things are changing in the digital future. We bring you a bunch of top tech buzzwords and trends that you need to know as you enter 2022.

  1. Metaverse

Metaverse refers to the theoretical 3D “shared virtual world” of future, which can be moved between and is accessible through virtual reality or augmented reality headsets or computer screens. Three decades ago, the metaverse was coined in a novel “Snow Crash”.

It covers an extensive range of virtual realities, where users can interact with one another, buy goods and services, and even attend events.  Various tech giants such as Microsoft and Facebook (now Meta) are working on metaverse to make it the setting for various online activities.

  1. Web3

Web3 is an idea for the next phase of the decentralized internet that works on the record-keeping blockchain technology, decentralized network of various nodes, or a combination of the two that forms a crypto-economic protocol. The Web3 technology is self-governing, verifiable, permissionless, trustless, stateful, distributed and robust and native built-in payments, which make it different from today’s internet that is controlled by few major tech giants, known as Web2.

  1. NFT

Non-Fungible token (NFT) is one of the most trending topics of 2021. It is a token that cryptographically represent the ownership of digital asset that exists on a blockchain. These digital assets can be traded for real money, either in cryptocurrency or another non-fungible investment.  

NFT sales hit US$2.5 billion in the first half of 2021 and in March, an American artist Beeple sold his digital art for around US $70 million.

  1. Decentralized Autonomous Organization (DAO)

Formed in 2016, Decentralized Autonomous Organization (DAO) is an organization governed in a decentralized manner and works on blockchain technology. The organization uses smart contracts, pieces of code that establishes its rules and automatically executes decisions. The main aim behind DAO is to form an advanced group of contributors who can participate in its governance and developments.

  1. Decentralization

Decentralization refers to transfer of decision-making responsibility and operations form central authorities such as organizations and governments to the users. Such change in organization structure may affect how markets and industries are organized to functions. Recently, Twitter has also invested in a project to develop a decentralized common standard for social networks budded bluesky.

  1. Altcoin

Altcoins, also known as alternative coins, are the coins that were launched after Bitcoin’s success. Ethereum is one of the most popular altcoin with second largest market capitalization. Most altcoins were launched to overcome the drawbacks of the bitcoin and came up with competitive advantages with newer versions.    

  1. GameFi

GamiFi refers to the combination of video games and decentralized finance (DeFi). GameFi game runs on blockchain technology and players may have verifiable ownership of in-game virtual items and it is based on play-to-earn model, where players can make money just buy playing.

  1. Net Zero

Net Zero refers to the balance between the amount of greenhouse emission produced and those removed from the atmosphere to prevent the worst climate damage. This year, UK hosted the 26th UN Climate Change Conference of parties (COP26) in Glasgow. As part of Paris Agreement signed in 2016, countries around the world have agreed to achieve net zero emissions by 2025 and the UK was one of the first major economies to set this goal.     

  1. Stonks

A 2017 internet meme, the term Stonk came into existence which was an intentional misspelling of the word “stocks”. The term gained popularity in 2021 amid the surge of GameStop and AMC stocks in the hands of Reddit’s WallStreetBets. Under this, the traders call themselves “apes”, who use terms like “diamond hands” for those who held positions during big market surges.

  1. FSD Beta

Tesla released a test version of its Full Self-Driving Beta (FSD Beta), which is an early version of its self-driving software that enables the vehicle to drive autonomously to a place entered in its navigation system. The FSD Beta system came into controversy as regulators and users says that it misrepresents its capabilities as driver still need to remain vigilant and ready to always take control.

  1. FABS

Semiconductor fabrication plants, also known as Fabs or Foundry, are the facilities where devices such as integrated circuits are produced. The term surfaced this year as a shortage of chips from fabs were blamed for the global shortage of chips, which affected various industries and have led to major shortages and queues among customers for computers, automobiles, video game consoles, and others. 

  • Artificial Intelligence (AI)

Artificial Intelligence (AI) is a system by which a digital computer or computer-controlled robot displays its intelligence to deal with situations. It focuses on the ability of machines to collect data about its surroundings and learn or adapt from it to achieve some goals.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *