The METAVERSE project has been in the spotlight at the Mobile World Congress (MWC) TechnFair, even as doubts over its success remain. METAVERSE is an open-source toolkit that allows users to create and manage virtual machines (VMs) across multiple cloud providers. It allows users to seamlessly move workloads between cloud providers without the need for any additional hardware or software.
The project's lead developer, Dr Ramkumar Menon, told ZDNet that he was "surprised" by the attention his project received at the event. In a panel session titled "Building a Cloud Native Operating System", he said METAVERSE was focused on creating an infrastructure that would allow developers to run applications at scale on top of any infrastructure provider -- whether public or private.
The METAVERSE team is getting ready to unveil its latest flagship device at MWC 2019 in Barcelona from March 25-28. And while the company is ramping up for this major event, it's also facing a number of challenges, including doubts about its financial health and future plans for the company.
METAVERSE has been in operation since 2012, but it only launched its first Android smartphone last year. The company was founded by former executives from Sony Mobile and Qualcomm Technologies. It went public in February 2019 through an initial public offering on the Tokyo Stock Exchange with a valuation of $1 billion (£800 million). That valuation dropped down to less than $800 million following the IPO and now stands at around $700 million (£550 million).
In an interview with The Information, METAVERSE CEO Ben Kunz said that he's not concerned about these financial issues because he sees them as temporary setbacks that can be overcome with hard work and dedication. "We're going into this thing head on," he said." METAVERSE is a leading provider of data protection, privacy and compliance solutions for the communications industry. We offer a full range of products and services that enable our customers to effectively protect the privacy and information they collect, while also delivering business benefits.
METAVERSE was one of the first companies to adopt a new technology called blockchain. The decentralised ledger system allows users to share sensitive information without compromising its authenticity or integrity. By creating a distributed ledger that can be edited by all parties involved, METAVERSE has created an entirely new way for brokers, carriers, MVNOs, VARs and other participants in the communications ecosystem to exchange data securely.
The company’s latest offerings include M-VIPER — a mobile virtual private network (MVPN) solution designed to mitigate risks associated with accessing sensitive content on mobile devices. It also offers the M-VIPER Guardian service for both personal and corporate customers who require secure access to their networks from anywhere in the world at any time. METAVERSE, a mobile messaging platform that specialises in security, privacy and access control, is being showcased at the Mobile World Congress Tech Fair. The company's new product, called Mummy, is a secure messaging app that allows users to encrypt their messages with end-to-end encryption.
Metaverse is one of several startups on display at the fair who are trying to redefine how we use messaging apps and how we think about data privacy and security.
"We're trying to be different by creating an alternative to the traditional social media apps," said Teo Georgescu, CEO of Metaverse. As the metaverse company is going it will surely look at other fintech options too.
Georgescu said his company will not sell user data or access their friends lists or messages. He said this is because he believes people should be able to trust their social networks with personal information without having to worry about it being compromised.
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