The Reality of Virtual Reality

Abstract:     
Virtual Reality is an interactive network of information designed to connect data on a digitally created world. This digital world serves as an operating system to facilitate exchanges of information, and functions as a visual platform for applications and devices based on the infinite combination of data elements collected and shared by this virtual operating system. The essential topic of study of this paper is to understand the process by which virtual reality stores, shares and links this data, from which we will determine the opportunities of next generation technology and their effect on our society. The conclusion of this paper is that Virtual Reality is one of the most underrated technologies of the beginning of this new century, and it has a potential to shape our society in ways which can be even more drastic than the social adjustment of our society to the Internet.

Number of Pages in PDF File: 47

Keywords: virtual teality, augmented reality

JEL Classification: O33, L86

working papers series