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Most digital companies are looking towards having a 3D virtual space. Therefore, technology companies are trying to come up with a futuristic version of the internet. Mark Zuckerberg does not want Facebook to be left out in this digital phenomenon, hence, changing the name of the company to Meta. Facebook changed its name to Meta because the future of social and other interactions is digital, to give room for the development and use of hologram technology, and to own the future operating system.

• The future of social and other interactions is digital. Digital technology has gone a long way. Most interactions and transactions are now being done digitally, which means that the approach is likely to dominate future technology. In the foreseeable future, the use of technologies such as VR simulators is likely to increase, which means that most interactions are likely to be done virtual. An example of such technology is the Job Simulator – PlayStation VR. Besides, Facebook, Instagram, and WhatsApp will retain their names, but the company mandated with the production and maintenance of the platforms will be called Meta. This fact means that any production and maintenance of the three networks will focus on creating a virtual space. Digital interactions through the 3D virtual space will also make it easy to communicate from any part of the globe through a simulation that does not show vast distances. Therefore, the metaverse will reduce the entire world to a virtual village.
• Give room for the development and use of hologram technology. Many futuristic sci-fiction movies have emulated the use of holograms. Zuckerberg plans to make this concept a reality by creating the metaverse. The holograms will make it easy to communicate and interact with people from any part of the globe without using physical devices, as explained in The Holographic Universe: The Revolutionary Theory of Reality. This fact means that employees will not have to be physically present in their workplaces, but could teleport directly to their offices to perform their duties and responsibilities. The hologram technology will also enable individuals to attend concerts, interact with loved ones, or go for adventures at the comfort of their homes. Therefore, commuting from one place to another will not be necessary since all transactions and social interactions will be done through a 3D virtual space.
• Own the future operating system. Facebook wants to own the future operating system, with all the developments and changes happening in the digital world. Modern Operating Systems explains the importance of owning an OS. Being the first company to think of developing and maintaining a virtual digital space also means that Facebook is thinking about owning the future OS. This fact implies that the company will be at the centre-stage of creating the 3D virtual space, which will lead to the development and use of the envisioned hologram technology. By owning the future operating system, Facebook is set to lead digital transformation all over the globe. Furthermore, most technology companies will rely on this OS to create their own digital products and provide services in the 3D virtual space. Therefore, Facebook is strategic in creating the metaverse since it will benefit form being a pioneer in creating the proposed digital technology.

Facebook is positioning itself to transform digital technology in the future by creating the metaverse. The company has changed its name to Meta because trends show that the future of social and other interactions is digital. In addition, Facebook wants to give room for the development and use of the futuristic hologram technology and own the future OS. Therefore, the change is a strategic move for the future of the company.

Joshua Omolo

Founder and Managing Director at Joshua Omolo & Associates Limited (JO&AL). JO&AL is a knowledge-based company whose clarion call is to “help people and businesses get out of the cubicle and create wealth.” The company has combined different methods of making money to create effective resources for beginners and experts. The focus is to conform to the global changes brought about by information technology. JO&AL’s commodity of trade is “Knowledge”. We are a reflection of a transformation that is taking place in our national and global society. Currently, learning is continuously being redefined for formal and lifelong learners in both public and private sectors. Consequently, we deal with affiliates, advertisers, agencies, and entrepreneurs. Our private fora coach individuals interested in leveraging their careers for business.