Does the Metaverse need a blockchain to ensure widespread adoption?
Although not absolutely necessary, omitting it would be a mistake. "The Metaverse without blockchains would probably move the ball forward for Big Tech."
Many are excited about the idea of the metaverse with its virtual worlds that can be used to play online games, but also to train surgeons on 3D organ models and allow students to visit recreated villages in ancient Greece surprisingly animated.< /p>
Many also assume that blockchain technology will play a key role in the metaverse, alongside other emerging technologies such as artificial intelligence (AI) and virtual reality (VR). But is the use of the blockchain really a fatality?
Stanford University professor Jeremy Bailenson recently moderated a World Economic Forum panel with some of the world's leading metaverse and blockchain thinkers. "The first question posed to the panel was 'Do we need blockchain for the metaverse?'" Bailenson, founder of Stanford's Virtual Human Interaction Lab, told Cointelegraph. "The consensus was that the Metaverse could exist without blockchain."
As an example, Bailenson offered metaverse pioneer Second Life, founded in 2003, which has 70 million current registered accounts and adds 350,000 new accounts every month to its online media platform. Second Life has developed "a robust economy where digital assets are bought and sold," Bailenson said. “Second Life's typical GDP is about half a billion dollars each year. And, the world works robustly without using blockchain.”
"Could the next iteration of the Internet exist without blockchain technology?" asked Tonya Evans, a professor at Penn State University's Dickinson School of Law. “Yes it is possible,” she told Cointelegraph. After all, distributed decentralized ledgers and crypto-secured assets, including smart contracts, are only a part of Web3 technology, along with AI, 3D printing, virtual reality, augmented reality, and more. 'Internet of Things (IoT) and many more.
Exclude it at your own riskBut omitting blockchain technology, while doable, could still be a mistake. "The Metaverse without blockchains would likely move the ball forward for Big Tech," Evans added, and it would come at the expense of those same people left behind by...
Although not absolutely necessary, omitting it would be a mistake. "The Metaverse without blockchains would probably move the ball forward for Big Tech."
Many are excited about the idea of the metaverse with its virtual worlds that can be used to play online games, but also to train surgeons on 3D organ models and allow students to visit recreated villages in ancient Greece surprisingly animated.< /p>
Many also assume that blockchain technology will play a key role in the metaverse, alongside other emerging technologies such as artificial intelligence (AI) and virtual reality (VR). But is the use of the blockchain really a fatality?
Stanford University professor Jeremy Bailenson recently moderated a World Economic Forum panel with some of the world's leading metaverse and blockchain thinkers. "The first question posed to the panel was 'Do we need blockchain for the metaverse?'" Bailenson, founder of Stanford's Virtual Human Interaction Lab, told Cointelegraph. "The consensus was that the Metaverse could exist without blockchain."
As an example, Bailenson offered metaverse pioneer Second Life, founded in 2003, which has 70 million current registered accounts and adds 350,000 new accounts every month to its online media platform. Second Life has developed "a robust economy where digital assets are bought and sold," Bailenson said. “Second Life's typical GDP is about half a billion dollars each year. And, the world works robustly without using blockchain.”
"Could the next iteration of the Internet exist without blockchain technology?" asked Tonya Evans, a professor at Penn State University's Dickinson School of Law. “Yes it is possible,” she told Cointelegraph. After all, distributed decentralized ledgers and crypto-secured assets, including smart contracts, are only a part of Web3 technology, along with AI, 3D printing, virtual reality, augmented reality, and more. 'Internet of Things (IoT) and many more.
Exclude it at your own riskBut omitting blockchain technology, while doable, could still be a mistake. "The Metaverse without blockchains would likely move the ball forward for Big Tech," Evans added, and it would come at the expense of those same people left behind by...
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