The relationship between the metaverse and the blockchain

The underlying structure of the metaverse or the virtual world must be based on the blockchain, why?

Because the metaverse is a parallel world, and the importance of that parallel world is very likely to surpass the real world, it will be big enough and wonderful enough, so wonderful that we are in the real world except eating and drinking, and all other activities include our survival All work is carried out in the universe.

The relationship between the metaverse and the blockchain
Metaverse and Blockchain

Next, let’s talk about the relationship between Metaverse and blockchain:

Therefore, there must be a strong economy in that world, and the economy must be a highly efficient economy that is oriented to the world and transcends geographical system and financial constraints to achieve great liquidity and minimal friction. Such an economy does not exist in real life. The birth of Bitcoin and Ethereum has given us hope, and this hope is accelerating to become a reality, and it is attacking us with lightning speed. Our Uniswap for trading, Aave for lending, various NFTs we participate in, and Opensea for NFT trading are all oriented to the global market, and all of them use the common currency ETH, and these characteristics they have are existing Any Internet application does not have.

Take Amazon as an example. If we want to buy overseas items on Amazon, we must have a credit card that supports overseas payment, the logistics will be shipped from overseas, and the goods must go through customs inspection. All the checkpoints are the friction in this specific economic activity, reducing the frequency of this activity and increasing the cost of this activity. However, traditional economies cannot fundamentally remove these frictions. Only a global economy based on blockchain technology can be so efficient. The blockchain technology is only in the early stages of development, so we have every reason to believe that its future is extremely wonderful. But thinking further along this line of thought, we have to think about it, this economy actually wants to achieve great liquidity and minimal friction.

So what characteristics must this economy possess? Can we imagine that its underlying platform is in the hands of a certain country or a certain company? Can you imagine that its currency is in the hands of a certain country or company? Certainly not, this topic does not need to be discussed in depth. In this way, if you pay attention to the current hot spots, you will immediately understand what I want to express. Therefore, it does not come from this underlying platform, and it must be a highly decentralized platform.

Let’s explore this topic from another angle today. The editor believes that only a system that can fully protect bad guys is a good system. This sentence means that everyone is equal before the system, not because of your morality, nor because of your character. Then this kind of system is a completely central system, and the only standard that everyone needs to operate on a system is only one, and that is whether it is being performed according to the requirements of the system itself. And to achieve such a system it must be as decentralized as possible: It must operate without interference from any single force.

In the virtual world, only encrypted assets can do it. Regardless of whether a good person or a bad person holds Bitcoin, he holds Bitcoin. No force can confiscate his Bitcoin just because the holder is a bad person. At best, external forces can only restrict the holder’s freedom or activities through legal means in the real world, but they cannot interfere with his freedom to hold coins at all. One thing to note here is that the currency I refer to here means that the currency is placed in one’s own wallet, not on the exchange. This is because of the absolute neutrality of Bitcoin, so we can believe in its future and see the future. Therefore, for a super powerful economy, its underlying structure must be decentralized.

After talking about the encrypted world, let’s go back to the real world. All major Internet companies in the Metaverse are quite positive. The editor believes that some of them have really seen the future. For example, news broke recently that Facebook is developing a new encrypted asset, and hopes to add this new asset to its own original owners. But I will not participate in this asset. Facebook is lucky. The place where he grew up allowed encrypted assets, so with the blessing of funds, he is spending a lot of money to do this. And for some big companies with strength but subject to various restrictions, they can’t get involved in encrypted assets, so they can only settle for the next best thing and grasp the metaverse beyond other things. For example, AR/VR equipment, digital twin, artificial intelligence, big data, Internet of Things or identification method, change the packaging of these technologies and create a new word etc. These are the metaverse themes of the current A-share hype.

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