The Metaverse is a lesson in the hype cycle.
Remember all the rage a few years back? CNBC has segments providing "5 stocks to take advantage of the Metaverse". Whenever you see something like that, it is likely fluff.
This was exactly the case. However, we should not throw out the proverbial baby with the bath water. What was hype clouds an underlying technology that will ultimately change the world.
Mixed reality will come upon us. It is much slower than those were forecasting back during the hype but, like most technologies, progress continues. The difference is that it is taking place outside the media.
For this reason, perhaps it is time to take a deeper look at the Metaverse along with blockchain. The latter is going to be crucial for the emergence of this new world.
Web 3.0 And The Metaverse: Blockchain Shaping Virtual Reality
What is a world without rules? Or more importantly, what is a world where the "laws" are set down by a corporation like Meta?
This is part of the equation that people need to consider. Our present form of governments are going to break down. The reasons are many. That said, one of the main factors is they were designed when we operated exclusively in a physical world.
Mixed reality, along with full immersion VR, changes everything. We no longer are dealing with geography as the primary component. In fact, where one is located means nothing in the Metaverse.
Therefore, we are looking at a "multi-world" system that operates outside the reach of governments. For this reason, new forms of governance are required.
Here is where the fork in the road arises.
Do we want the likes of Meta, Google, or Tencent in control? Instead of governments, do people want to be surfs to the tech overlords?
Or is the desire to have a hand in our destiny? The Metaverse provides a forum for people to forge whatever future is desired. Here is where the network is crucial.
Blockchain is a vital component to this due to the fact it alters the entire computing framework. Presently, the Internet primarily utilizes the client-server architecture. This means the one who owns the servers (and the client) has full control.
Web 2.0 exemplifies this at almost every turn.
A New Society
We hear a great deal of mention of community. This is something that is echoed regularly throughout the crypto world. Unfortunately, there does not seem to be much to this outside of a group of people trying to pump the price of their favorite token.
One of the opportunities associated with the Metaverse is building around community. This means a major expansion of the "tribal" formations of the past. We are dealing with few limitations. Constraints in the physical world are instantly overcome.
Basically, the integration of Web 3.0, blockchain, and the Metaverse is poised to revolutionize virtual reality, offering unprecedented levels of immersion, interaction, and ownership.
Governance is only one part of society. Another crucial component is ownership. We embarked upon many experiments over the last few centuries, with a variety of systems tested.
The Metaverse is no different. One of the benefits of blockchain is decentralized ownership. This can come in the form of tokenization, either individually, such as a NFT, or collectively.
Bridging Gaps And Forging Connections
Over the last 30 years, the world got smaller. Obviously, this is not to be taken literally as the physical size of the planet remains the same.
What this means is our ability to connect, with information (events) and people shrunk. Due to advancements in telecommunications, we now get near instant information. Something that happens on one side of the world is transmitted to everyone.
At the same time, we can now directly interact with 5.25 billion people, basically for free. Global communications is something that everyone who is only enjoys. Again, it matters none what country the one posting is from.
The Metaverse will enhance this. Depending upon the technologies created, we will be able to engage using even more senses. Products such as haptic wearable could provide physical stimulation even though the interaction is remote. If we progress to the point where BCI is commonplace, this could provide engagement that is almost lifelike.
What we need to take away is that we are dealing with some very powerful stuff. To leave this in the hands of a few individuals, whether they are from the government or private industry is dangerous. If we view this as being based upon the network, we once again ask who controls the network?
We are tasked with the onus of ensuring that Web 3.0 is not a more powerful version of Web 2.0. That structure was fine for the time, due to technological constraints. Those are now being removed.
The point is that what is being done today will have profound impact upon the future. Each day we are at the fork in the road.
Which direction do we go?
Posted Using INLEO
