I’ve been thinking about the metaverse lately. No, not the metaverse as in a virtual reality universe like Second Life or Minecraft, but as in one metaverse to rule them all. What is the metaverse? Basically, it’s a virtual universe where we can transport our physical selves and interact with each other however we please – whether that be just chatting and viewing art together or engaging in virtual events or movies where you play one of the actors. In a metaverse, there would be no boundaries – only the ones we impose on ourselves.
The Metaverse is a decentralized platform that can host simple and complex smart contracts as well as digital assets, digital identities, and various kinds of applications within an efficient ecosystem.
The metaverse could also allow us to exist as whoever or whatever we want – which is why I’ve been thinking about it a lot lately. With the development of virtual reality and the blockchain, combined with artificial intelligence, it’s becoming more and more possible. Instead of limiting ourselves to the physical human experience – existing as a singular, unchangeable self – we can exist as whoever or whatever we want and be able to change that whenever we please. We would be free from the limitations of our physical selves and truly empowered… free to do anything we wish, achieve anything we desire and accomplish anything we dream of. It would be total freedom, both physically and mentally, something that humanity has always strived for but never truly had until now.
I have been thinking about this metaverse for a while now, and I’m excited to share my thoughts with you today. I call this metaverse the metaverse of tomorrow, but some others refer to it as the metaverse 2.0. Some people are comparing metaverse to platforms like Ethereum or EOS, but I think it’s worth pointing out that metaverse is far more ambitious than any platform today. Metaverse has three key pieces of technology that are driving its metaverse of tomorrow:
- Virtual Reality (VR)
- Blockchain Smart Contracts
- Digital Identity & Reputation System
With metaverse, we will be able to use our VR headsets and transport ourselves into a virtual reality metaverse just like we can with Second Life and Sansar today. But metaverse is taking this vision forward: metaverse blockchain, digital identity, and artificial intelligence.
The metaverse blockchain is the foundation of the metaverse. It’s a blockchain that can issue digital assets, store digital identity information, and execute smart contracts. Digital assets are somewhat similar to what you see in Ethereum today with ERC-20 tokens or ERC-721 non-fungible tokens, but metaverse has some additional features that neither of those blockchains has.
First, metaverse will have the ability to “attach” data to its digital assets so metaverse can offer more than just store fungible or non-fungible tokens. Second, metaverse will also have a better scaling solution built into it so metaverse won’t suffer from the same speed issues that Ethereum has today. Those alone would make metaverse a superior blockchain to use for our metaverse of tomorrow, but metaverse goes even further than that with its digital identity and reputation system.
Metaverse’s digital identity is the next piece we need in metaverse if we want to become our true selves. It would allow us to create a metaverse identity that everyone could see and understand. Think of metaverse’s digital identity more like a metaverse avatar.
We can create an avatar, change it however we want, and make it unique to us in the metaverse blockchain database. But metaverse goes even further than that: metaverse’s digital identity is also a reputation system, which means metaverse is not just an avatar but also an online identity. This metaverse human-readable metaverse name would be the closest thing to a metaverse version of us that we could have.
The blockchain is important for metaverse because it would allow metaverse to solve one of the biggest problems we face today: trust and security . Metaverse would be a blockchain that can be trusted because metaverse will use digital identities and reputation systems. metaverse users could store their metaverse identity information on metaverse, which means metaverse can verify that metaverse user that claims to be John Doe is truly John Doe. This technology alone makes it easier for us to transact with one another; we don’t need to know metaverse users personally, but metaverse would be able to verify metaverse users are who they say they are through reputation systems.
Reputation system is the last piece here, which I think is very important. metaverse’s reputation system isn’t just a score that metaverse assigns to us based on our performance or metaverse usage. metaverse’s reputation system is a metaverse human-readable metaverse name which would be the closest thing to our metaverse version of ourselves and allow metaverse users to understand metaverse users better.
Imagine if we had matervaies instead of unruly online identities, where we could identify ourselves as “Charlie Doe” or “Mary Doe” instead of “charlie_doe123” or “mary_doe456”. metaverse’s digital identity and reputation system would make it easier for metaverse users to understand each other; metaverse could assign metaverse users a metaverse human-readable metaverse name which metaverse users agree beforehand as their official metaverse metaverse name. metaverse could verify metaverse users are who metaverse say they are and we metaverse users would be able to trust metaverse as our metaverse blockchain foundation because it has a reputation system built into it.
The next piece is storing metaverse information like health records, educational records, and financial records. Each of these has its own use cases which will improve our quality of life when stored on the blockchain; think about how easy it would be to access your health records instead of calling each doctor you’ve ever gone to and asking them what happened in your appointment. If your medical history was stored in one place, in a secure location that no one could tamper with whether it’s public or private, then you could easily see your medical history whenever you needed without having to worry about someone changing it.
I believe metaverse will win out over time for three reasons: digital identity and reputation system built into Metaverse so we can trust metaverse users, ability to store metaverse information like records, and third-party apps built on the blockchain.
The first two reasons will allow us to transact with one another with ease because we can trust each other’s identities and reputation systems, leading to better businesses which leads to higher adoption rates of Metaverse. Third-party apps are important because they act as catalysts for widespread adoption; think about how many people use email or Facebook today instead of mailing letters or meeting in person every single time. Metaverse already has a bunch of third party apps being built on it , including future decentralized exchanges which would have higher security levels than their centralized counterparts . I believe that by having these three factors working together, Metaverse will win out over time against traditional blockchains.
metaverse is building the blockchain for the future, not just now… metaverse will be built to last.
We at metaverse are building the blockchain for the future, not just now. The blockchain space is still in its infancy and our goal is to build a decentralized global blockchain platform that would last for many years to come. We want metaverse to be built to scale alongside us because we don’t know what problems or opportunities will arise in the next couple of decades. That’s why it’s important to have a strong foundation today so that it can support tomorrow when there may be more sophisticated apps being built on top of it or greater computing power being used by everyone if quantum computing ever becomes mainstream .
We want The Metaverse to be here when you think of blockchain technology, just like how Google pops up in your head when you think about search engines. We want you to think of the metaverse whenever you hear about blockchain technology and we want everyone to know that it’s here to stay, not just a fad or trend like everything else. That’s why we’re building metaverse today and we hope you join us on this journey because it will be much more interesting than what we experience in the “real” world.
Hi, my name is Lin,
I’m the campaign manager at advalley
sharing my insights and experience from
helping Blockchain Technologies grow online.