In 2021, CEOs of Business from technology inspired by a 1990s sci-fi novel, Reddit’s investor lexicon seeped into the general public after self-proclaimed ‘monkeys’ shuddered Wall Street, and something called DAO tried to buy a rare copy of the United States Constitution.
If you still don’t know some of these terms even with 2021 coming to an end, here’s a little glossary:
Metaverso
The metaverse refers to immersive and shared digital environments that people can migrate between and access through virtual reality, augmented reality, or computer screens.
Some CEOs of tech companies are betting he will be the successor of the internet mobile.
The term was coined in the dystopian novel “Snow Crash” three decades ago.
This year, executives from companies ranging from Microsoft (MSFT) to the Match Group discussed their roles in building the metaverso.
In October, the Facebook (FB) changed its name to Meta to reflect its new business focus.
Web3
Web3 is used to describe the potential next phase of the Internet: a decentralized Internet, through ‘technology’blockchain‘, which records transactions on networked computers.
In this model, users would have a part of the platforms and applications, different from the current internet, known as Web2, where some technology giants like Facebook and Google (GOOGL), gives Alphabet, control the platforms.
social audio
Tech companies rushed to launch live audio chat tools after the Clubhouse gained prominence in early mobility restrictions against Covid-19. NFT
You tokens Non-Fungibles (NFTs), which have exploded in popularity this year, are a type of digital asset that exists in a ‘blockchain’.
In March, a work by American artist Beeple sold for nearly $70 million at Christie’s, the first sale of a work that does not exist in physical form by a major auction house.
Decentralization
Decentralization, or the transfer of power and operations from central authorities, such as companies or governments, into the hands of users, has emerged as a key theme in the technology industry.
These changes can affect everything from how industries and markets are organized to functions like platform content moderation.
Twitter, for example, is investing in a project to build a decentralized common standard for social media, dubbed Bluesky.
Dao
A Decentralized Autonomous Organization (DAO) is usually an Internet community owned by its members and running on blockchain technology. DAOs use so-called smart contracts, pieces of code that establish group rules and execute decisions automatically.
In recent months, the ConstitutionDAO cryptogroup, which has raised funds via crowdfunding, has tried unsuccessfully to buy a rare copy of the US Constitution at an auction held by Sotheby’s.
Stonks
This deliberate misspelling of the word “stocks,” which originated with an internet meme, made headlines as online traders gathered in forums like Reddit’s WallStreetBets pushed up the stock price. from companies including GameStop and AMC.
The language of these traders, who call themselves “monkeys”, has become popular.
Gamefi
GameFi is a broad term referring to the tendency of players to win cryptocurrencies through video games.
They can earn money through mechanisms such as obtaining financial tokens through successful battles in the popular game Axie Infinity.
Altcoin
The term encompasses all cryptocurrencies except bitcoin, ranging from ethereum, which aims to be the backbone of a future financial system, to dogecoin, a digital currency originally created as a joke popularized by the chief executive of Tesla (TSLA), Elon Musk.
FSD Beta
Tesla has released an updated trial version of its full self-driving (FSD) software, a system of steering assistance features – such as automatically changing lanes and cornering – to the public in general this year.
The software’s name itself has been the subject of controversy, with regulators and users saying it misrepresents system resources as the software still requires the driver’s attention.
Fabs
“Fabs,” short for semiconductor manufacturing plant, entered the general lexicon this year when a shortage of chips was blamed for the global shortage of everything from cars to electronics.
Net Zero
Term popularized this year thanks to the climate negotiations of COP26, conference of the United Nations, in Glasgow, Scotland.
The expression is used to say that a country, company or product does not contribute to global greenhouse gas emissions.
This is usually achieved by cutting emissions like using fossil fuels and balancing remaining emissions with efforts to absorb carbon, like planting trees.
Source From: Moneytimes
I am an author at Global happenings and I mostly cover automobile news. In my time working in the automotive industry, I have developed a keen interest in the latest developments and trends. My writing skills have also allowed me to share my knowledge with others through articles and blog posts.
