Everybody that has cryptocurrency is wondering whats next for this type of technology. Well entrepreneurs are looking for opportunity and getting creative with VR/blockchain. So far it is a small market place but it's going to be growing huge in the near future.
Either it's the best thing that ever happened to the world or a farce in the name of the best thing the world will ever experience. That is pretty much the decision around virtual reality (VR) . A technology that allows humans to have immersive illusion of being somewhere else.
That's why Brian Armstrong, co-founder of one of the largest crypto exchanges in the world Coinbase. Believe that VR that could become a tool to expand virtual payment technologies. They could allow participants to earn virtual money which they can take back to the real world and spend them like fiat money.
"The reason is simple," explains Armstrong. " When people transact in virtual worlds, it doesn't make sense to use the currency of one country. People from all over the world will gather in these virtual spaces, and it would be exclusionary (or perhaps even rude) to use one country's currency in a digital world. Furthermore, digital currency will create an incentive for people to spend more time in these worlds (where they can earn "real money") creating a virtuous circle for companies building these worlds."
Blockchain technology and VR share one thing in common: their lack of awareness in the public eye. However, they can complement each other in a number of ways. For example, virtual reality is popular with the creation of digital environment in the world of applications like gaming, property, security, and organizational training.
The blockchain is decentralized by nature, and provides instant transmissions of information. This instant and immutable transmissions of data help improve the performance of different platforms, such as virtual reality. This is especially true as the storage of data in centralized units could reduce its growth and viability.
Keep a look out for startups that are taking on the challenge of blockchain technology and VR. The sky is the limit for the culmination of both coming together as one. These startups are reaching for the stars and if this sparks interest in your heart then go for it too.
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