Privacy, Wearables, and Building a Secure Web3 Ecosystem: Interview With Mai Labs

Technology



Mai Labs, a Cayman Islands-based Web3 company, showcased its metaverse platform Mayaaverse in India earlier this week. The firm demonstrated the platform that digitally traces India's journey through history. Mayaaverse allows visitors to explore ancient Indian cities (such as Hastinapur) to present-day temples, modern shops and photo-realistic virtual spaces for live artist performances. Mai Labs plans to bring content creators, brands, artists and a new generation of tech-savvy consumers and audiences into its immersive Web3 ecosystem.

Gadgets360 interviewed Mai Labs Chief Business Officer Ashish Minocha and Chief Technology Officer Khoushik Ananth to learn more about the evolution of their metaverse ecosystem and how these platforms can strike a balance between ensuring user privacy while prevent malicious activity and safeguard users.

Gadgets360: How is Mayaaverse different from Meta's foray into the metaverse?

Ashish Minocha: Mayaaverse differs from what Mark Zuckerberg is building with Meta in several ways. Meta is developing Horizon OS but had no initial content, while Mayaaverse prioritizes content alongside its technology offerings. As developed in India, Mayaaverse caters to regional and cultural nuances more effectively, while MayaaSDK and the Lumyn XR headset are aimed at creators and developers.

Meanwhile, MayaaVerse is device-agnostic, promotes an open and democratized virtual environment, and focuses on making highly realistic virtual environments accessible through basic hardware so that they are available to a wider audience.

Gadgets360: How do platforms like Mayaaverse strike a balance between protecting user privacy and preventing misuse?

Koushik Ananth: We anonymize data to protect individual privacy, to ensure that personal information is not exposed, and we use strong encryption for data in transit and at rest. User data is stored in a dedicated and highly secure database, separated from other operational data, minimizing the risk of unauthorized access. Users can also view, edit or delete their information and adjust their privacy settings.

On the other hand, we designed Mayaaverse so that every entry is traceable to a real human identity, via KYC. Regular security audits, ethical data practices, and compliance checks help us meet global data protection regulations while providing a personalized metaverse experience.

Gadgets360: How do photorealistic environments enhance metaverse experiences?

Koushik Ananth: Creating photorealistic environments for the metaverse involves creating virtual spaces that closely resemble real-world settings. This includes the use of advanced graphics rendering for realistic textures, accurate lighting with dynamic shadows, and immersive spatial audio. The photorealistic environments of the metaverse create a sense of presence and realism.

In addition, physical simulation plays a crucial role. It ensures that interactions with objects and movements within the environment behave realistically, enhancing immersion. For example, physics simulation allows objects to respond to gravity, collisions, and other physical forces as they would in the real world. This realism adds depth to virtual experiences, making them more engaging and believable.

Gadgets360: Does Zero blockchain offer features that are not available on rival platforms?

Koushik Ananth: Zero Layer Blockchain is a foundational blockchain protocol that does not add layers to existing structures like traditional blockchains. Instead, it optimizes the very foundation of the network. For India's blockchain ecosystem, increased transaction speed, reduced delays and stronger security measures.

It also has an element of interoperability that allows different blockchain networks to work together. We have also equipped the Zero blockchain with the security and compliance features required by Indian regulations.

Gadgets360: How can Web3 platforms provide a “safe and reliable” ecosystem?

Koushik Ananth: Ensuring the security and reliability of Web3 technology requires a multifaceted approach that includes technical, governance, and regulatory considerations. This includes using encryption algorithms, adopting secure coding practices, and implementing strong authentication mechanisms to mitigate the risk of unauthorized access and data breaches.

KYC procedures, on the other hand, contribute substantially to generating trust and credibility within the Web3 ecosystem. Platforms must also prioritize user verification to demonstrate a commitment to security and regulatory compliance. Comprehensive audits of smart contracts can also identify and rectify vulnerabilities that could compromise the integrity of decentralized applications.

Gadgets360: How Mai Labs Received in India, in Light of Skeptical Approach to Web3 Sector

Ashish Minocha: Overall, operating a Web3 business in India has been a unique experience for us. As a company, we don't fully subscribe to the idealized vision of Web3: one without intermediaries or boundaries, where the world becomes completely permissionless.

We believe that such a world is impractical. Instead, we advocate Web H (hybrid) or Web 2.5. We operate as a permissioned, design-regulated ecosystem that combines the best of Web2 and Web3. Transparency and decentralization remain our core values.

Some responses have been condensed and lightly edited for clarity.


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