While AR and Blockchain are impressive on their own, imagine what happens when you combine them! Before long, Augmented Reality and Blockchain will get intertwined in ways that will shape our lives just as much as the Internet has done in recent decades.

We are already witnessing the significant impacts of AR and Blockchain in eCommerce. While AR is being used to offer a realistic, genuine appearance of products, Blockchain impacts the supply chain and payment services.

Before discussing how the duo is making waves with technological advancements, let us look into the two technologies separately.

What is Augmented Reality (AR)?

Augmented Reality is a direct/indirect view of a physical, real-world environment whose elements are augmented (or supplemented) by computer-generated sensory input such as sound, video, graphics, or GPS data. The resulting perception is mixed with a virtual representation of Reality that enhances both worlds’ interpretations.

Augmented Reality improves decision-making capabilities by providing more information about spatial environments that can benefit from such enhancements: navigation, road safety, medical procedures, museum visits, and more. Thus augmented reality development enhances the user experience for different industry verticals.

Statista says that the AR market will reach $198 billion by 2025, a 56-fold jump from the present value of 3.5 billion. Augmented Reality is already becoming a part of everyday life and is visible in multiple forms.

The best examples include the worldwide sensation Pokemon Go, sportswear giant Lacoste, and cosmetic brand Sephora making the most of AR.

What is Blockchain Technology?

Blockchain is a distributed database that stores every transaction (that is, transfer of value) made on its network. Each block of the chain contains an encrypted hash (cryptographic fingerprint) of itself and all previous blocks.

Blockchains store information across a network of computers. These nodes validate each other’s work, ensuring that there is no data loss or corruption. Because blockchains are decentralized and transparent, they make for a highly secure way to store information. Check out this piece on crypto node operators to learn more about how these nodes are authorized.

Users can also take advantage of blockchain technology through a technique called smart contracts—i.e., instructions written into a network record that self-execute when specific terms are met. For example, if party A transfers $X worth of currency to party B, notify party C.

Once completed, smart contracts immediately update all blockchains involved—eliminating uncertainty and doubt about what happened during every transaction. The blockchain market is to accumulate a whopping $20 billion in revenue by 2024, as per Tech Jury.

AR with Blockchain benefits diverse industry verticals and matches up like two peas in a pod through a number of their features. With both technologies reaching crucial stages of maturity, it’s more than likely that AR/VR will adopt Blockchain into its core sooner rather than later. Let’sLet’s take a closer look at how these two innovations are related.

How do Augmented Reality & Blockchain Mix?

Augmented Reality is going to change our world; there’s no doubt about that. Companies like Google, Microsoft, Facebook, Alibaba, and Tencent are betting on AR by putting their weight behind it. It’sIt’s easy to see why. A few years from now, AR will be nearly everywhere—not just smartphones but glasses, cars, your doorbell, or any other object you can imagine.

While cryptocurrencies get a lot of hype, it’s important to remember that blockchain technology is so much more than just an alternative way to exchange currency. It’sIt’s a record-keeping solution that developers can apply across countless industries.

AR could benefit significantly from such a streamlined system. If a team could devise an innovative approach to AR by leveraging blockchain technology, it would help bring augmented Reality into mainstream use even faster than we might have expected.

Which Industries are using them?

Together, the two technologies will significantly impact eCommerce, Gaming & Animations, Fintech, Real Estate, etc. 

Imagine the Pokemon Go game with unique Pokemons. Gamers can show off the collections that they have exclusively hunted. It is now feasible by integrating Blockchain into the AR-based game.

AR and Blockchain would drive the fun and excitement of the game to a whole more fantastic level. Gamers will be able to track the entire journey of the Pokemons, and trade associated with the game will be more transparent.

Similarly, the Fashion industry can make combined use of AR and Blockchain. Buyers will be able to get a genuine outlook of the products they are about to buy and be able to verify the entire journey of the product.

It will enhance the shopaholics’ experience as they can finally be sure that what they are buying is 100% genuine, free of counterfeiting, and how the products will look upon them.

Here’s an infographic depicting the industries most impacted by counterfeit products:

Source: Statista Counterfeit & Pirated Products 

The combination of AR and Blockchain will effectively trim the returning rate of the products, which is a significant issue in the e-commerce industry.

Another significant aspect of the combination is visible in the real estate industry. Now AR/VR-based designs and outlooks of the entire project can be more effectively traded, minimizing the chances of fraudulence.

The virtual real estate world is witnessing portals that let users explore the virtual world. Investors can create and monetize the visual space.

No, I am not talking about Caprio’sCaprio’s big hit ”Inception”. It’s feasible now, and the best example of this portal is Decentraland. It is a digital platform you can explore to buy lands and create a virtual world for yourself.

Wrapping Up

That was all about how Blockchain and AR have become an indispensable duo. While both the technologies are reasonably successful standalone, together, they are bound to lead to revolutionary changes in the world.

Connect with a blockchain development company that also offers AR services to drive the success of your software idea.

Suggested:

How and When to Use Augmented Reality Remote Assistance in Business in 2021?

The Use of Augmented Reality in the Marketing Industry.

Top Uses of Blockchain Technology that Can Change the World.

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COVID-19 has changed almost everything from how entrepreneurs used to think to how businesses were operating pre-pandemic. Digital infrastructure and innovation are the need of the hour to develop more agile, customer-centric business strategies. Undoubtedly, businesses worldwide need to be more resilient to respond faster to uncertain historical situations.

By having a highly structured IT ecosystem and well-optimised digital technology in place, we can keep the business up and running in unexpected events. Here’s how technology is playing at the front-foot to prepare industries for the future.

Safe and Resilient IT Infrastructure

Developing a resilient IT ecosystem means creating a business continuity plan to keep the services up and running in the event of slowdowns or crises. To achieve this, you must acquire a complete understanding of how the entire digital system in your business works. The cyber teams will need to work with managers and executives to develop and maintain digital resilience by prioritising business data assets.

Entire business entities must be engaged and involved in building resilience because it is a business issue that affects every single entity. With a thorough technical assessment combined with a strategic business assessment, the organisations would be able to develop a resilient strategy.

The resilience strategy must address all business issues and processes, right from Java application development to marketing and sales to human resources (HR) to the supply chain. Like resilience, it’s equally important to maintain a security strategy and not underestimate its importance. 

A vulnerability in any particular retailer’s supply chain can catastrophically breach the entire retail system’s security. So, maintaining safety, security, and resilience must keep pace in the post-COVID world.

Distributed Workforce is the Future Model

In many countries, the majority of companies did not support the concept of the work-from-home model. The pandemic has taught many new lessons, and a distributed workforce has become the new normal. Even the businesses don’t know how long they have to follow this model, but the good thing is that they are fine with it, and some are experiencing better productivity.

Collaboration has always been the biggest challenge for employees while working remotely. However, we have realised even higher digital dependency at the same time. Those who have stuck to the brick-and-mortar approach over digital presence fear the risk of extinction in the near future due to low productivity and reduced turnover.

Although a distributed workforce is not feasible for all professionals, such as healthcare workers, field workers, etc., it proves to be a practical and efficient option for many. In the future, companies must invest in making themselves pandemic-ready.

Digitalised Processes will Rule Healthcare

True! Social distancing has become mandatory, and working from home is the new normal of 2020. The digitised work process has become a necessity, and technology is something we are all breathing today. Unquestionably, all the industries out there will be more dependent on technology, which is mandatory and will also help raise the bar in post post-COVID era.

If we embrace digital products, apps, and technologies in the business, then only we will be able to survive the uncertain times in the future. From healthcare to education and banking to logistics, companies must emphasise adopting and implementing technology innovations.

Digital transformation will facilitate smooth, frictionless interactions in the healthcare sector. The uncertain era might permanently change the healthcare landscape, and the industry has already begun to move to telemedicine. RPM (Remote Patient Monitoring) is an example of IoT, which plays a vital role in helping healthcare providers monitor and manage medical care for the patient from a remote location.

Contactless Technology will Lead Tourism

The travel sector is the most badly hit industry with long-lasting consequences of the COVID-19 pandemic. The industry will resurrect once again and soon begin to serve travellers with its refurbished technology-driven model in the new normal. There might be a significant fall in the week-long excursions in the future, but people will continue to enjoy short-term, small group trips.

Contactless technology has become the primary focus of the travel industry, and very soon, you will notice airports equipped with touchless endpoints. The focus is on reducing the areas of shared touch by implementing contactless interfaces. You will have a completely new experience on your next domestic or international trip.

Not only airports but also hotels and restaurants are integrating contactless technology on the premises. In the post-COVID era, no-touch endpoints will allow guests to book tables, unlock doors, check in, check out, and interact with room service through a touchless protocol and devices. Voice technology will certainly play a considerable role here.

Augmented Reality is the Future of Retail

COVID-19 effects are long-lasting, as not only businesses but humans and infrastructure have been hit hard by the pandemic. But there are so many positive aspects as well related to these uncertain times. The technology has innovated the world, and different industry segments are experiencing business continuity even after being deeply affected by the Coronavirus.

Retail was awaiting a big transformation years before the pandemic hit the industry. Augmented Reality and Virtual Reality will now transform and innovate the retail sector, and the customers will enjoy a whole new experience. Right from browsing the product list to trying them on – virtually, the clothing retailers will definitely enhance customer experience through extended reality.

For years, retail has been handling tons of data every day, but analysing this data is a big challenge for many. Tech giants are developing new solutions for industry evolution, but hesitation in adopting the new technology was once the primary issue. But today, the story is different, and retailers are open to new technology adaptations. Predictive analytics is here to stay forever to allow retailers to take full advantage of data insights.

Final Thoughts

All the industries, including healthcare, tourism, hospitality, retail, manufacturing, IT, and more, incorporate new technology innovations to stay ahead of the competition. Business owners are influenced by how technology transforms their respective industries and take every possible step to adopt these innovations for sustainable growth.

The post Top 5 Innovative Business Trends That You Will See in Future appeared first on Tricky Enough.

From the past few years, AR and VR have created a unique standard place in the event management sector. If you are a professional event manager, you are most likely interested in making your event more unique that excites your event spectators. There is an infinite number of ways you can use Augmented reality and virtual reality at your events.

Virtual Reality

VR technology not transforms the world around you but transports you into a changing world. The virtual world created by VR needs some excellent tools and devices, such as gloves, sticks, and olfactory accessories. These tools are required to create a virtual experience that boosts the observer experience.

Augmented Reality

In simpler words, we can say that Augmented reality adds a digital layer to the real world. The visual layers added by AR changes the experience of the people using it. AR requires less equipment to accomplish. You can experience this just by using the Snapchat app on your phone. The AR technology adds digital effects that you can easily experience through your mobile screen.

Reasons to use AR and VR reality

• Set yourself ahead from the market competition
• Enhance the visual experience of your attendees
• AR/VR applications offer the best features at affordable costs
• Keeps you updated with new technology
• Boost audience experience and your event company reputation

Key facts and statistics related to AR and VR:

• According to the market reports, the Augmented reality market’s current value stands at $3.5 billion.
• There are more than 1 billion augmented reality users by the end of 2020.
• AR ROI will exceed VR revenues in 2020.
• The social media giant Facebook purchased 11 AR and VR companies.
• Augmented reality stats show that nearly 70% of the Americans are not aware of AR and its discovered potential.
• More than 67% of media planners want to use AR/VR ads in their digital marketing campaigns.
• The worldwide automobile AR/VR market is ready to reach $673 billion by 2025.

Five ways you can use AR and VR at events

Yes, there are countless ways you can use AR and VR to make your events even more successful and engaging. If you are an event planner and looking out for ways through which you can use technologies and enhance your work, you are on the right page. Simply put, various VR app development companies help you with developing AR/VR applications that you can use in your events to make them more engaging than before. Augmented reality and virtual reality have the knack to transform the means we examine and interact at events. Both the technology trends help brine an endless list of potential that can boost audience experiences. Let’s talk about the five ways event managers can use AR and VR in events:

Attendance feature

Well, it is not possible to travel across the world to attend an event for everyone. Virtual reality is a technology that allows people to participate in events in different places without going to the location. This new trend helps people to attend various events remotely. With this feature, people can interact with other participants without being physically at the event site. The virtual attendance feature helps people to attend the events with the help of virtual attendance.

Eliminate Venue costs

It will be great fun to add virtual venues for the events. With the help of VR technology, event Managers can now make virtual venues that boost the audience engagement rate 3x times. To make your event a low-cost event, you can think about this aspect. This feature help planners to potentially save vast amounts of money if they are not in a position to allot funds for an event place, lodging, food, speakers, and other facilities. When incorporating VR in your show, you can eliminate all the above- mentioned costs and make your trade show a hit even at a low budget.

Virtual Tours with sensory enhancement

When it comes to tours, it is not just about planning an event but also giving some sensory stimuli to the audience. With this tip, you can add to your next event and make it extraordinary for attendees. With VR, you can plan a tour and use some tools and equipment for sensory enhancement, so that users were able to smell and touch. Hopefully, in the upcoming time, VR offers much more thrilling marketing techniques that allow users to feel the heat and the breeze via virtual tours.

AR Assistant

If you want to add some extra layer in your event, but you are running out of cash to try some of the new and advanced AR or VR features, then use AR assistant. It is an option that keeps you ahead of the tech world and an ideal solution for events. With this, users can use AR glasses to check the details of other attendees. This feature allows attendees to broaden their networking opportunities without any embarrassment.

AR product features

Sometimes, it isn’t easy to showcase all your products and features to the customers. Now AR has made it easy to provide the details about the products to your audience at a trade event effortlessly. This technology is also used by other business sectors to create a more immersive experience that boosts sales. The Top 10 AR mobile App Development Companies 2020 are continuously developing new applications that offer unique features to AR and VR events.

Conclusion: 

Overall, AR and VR for events are going to improve the experience of the audience and event managers in the upcoming time. Even though it is a bit expensive matter for smaller budget events, but with the growth in technology in the forthcoming years, it will be affordable. In addition to this, you need to add some safety measures while using AR and VR at events. It is a great way to provide your audience with a great experience, but you also need to be much more careful about the safety of your audience and their belongings.

Hopefully, with all the above- listed innovative points, you can stay ahead in the competitive marketplace. In case you feel we are missing an essential aspect in the write-up, you can share your views with us in the comment section.

Author bio: Anita Gigoo is a Senior Content Writer at Mobileappdiary. She writes about various topics related to mobile app development, Mobile app design, web development, and social media platforms for the past five years. Having a strong academic background in writing makes her a creative, sharp, thoughtful, and intellectual writer. Being an expert, she loves to explore new ideas related to mobile technology.

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