Korean financial institution Sinhan Card stepping toward Metaverse’ real use


South Korean financial institutions planned to send its employees to get education in Metaverse to provide better financial services by understanding the main vision of the company.

Metaverse is a next level concept of Augmented Reality (AR), which came in popularity among the majority of the tech companies, when Meta (former Facebook) changed its brand name from Facebook to Meta and pledged to provide that imaginary level of experience, where people will feel just like reality in the imaginary world of augmented reality. 

On 18 March,  The subsidiary of Financial Group’ credit card announced that it will send all of its workers to the Gather.town metaverse. The main reason to send them to such a place is to educate and train them on how they can use data in business operations.

In this way, in the Metaverse, employees of Credit Card will complete their education in Metaverse to understand the visions of the company and its business operations, so that they can provide much better financial services in more friendly, more secure and more creative ways. 

Last week, Shinhan Bank launched its own Metaverse platform. However its Metaverse platform is in beta version but still it is itself a very unique initiative of this bank because it became the first ever financial institution in South Korea to establish its own Metaverse platform.

Other South Korean banks like KB, Hana, Woori and NH Nonghyup also showed some significant steps in Metaverse based projects. 

Metaverse, Blokchain & crypto 

However Metaverse grabbed huge attention in the world because of partially crypto inclined company Meta but crypto & Blockchain industry getting huge traction because of huge possibilities to contribute in Metaverse based projects . Metaverse based projects needed huge computational energy, which is possible through the blockchain technology. 

Experts believe that Metaverse based projects are a better option for the revolution of the crypto Industry because such projects allow the use of crypto in the virtual world. 

Beside all speculation, majority of the Metaverse based projects are based on providing virtual lands and buyers of virtual lands are paying in crypto assets (native crypto assets).

Recently financial giant HSBC purchased some land in the virtual world of “The Sanbox”, which is a Metaverse based crypto project.

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