Blockchain Technology to Play Essential Role in VR-Powered Social Media

Blockchain Technology to Play Essential Role in VR-Powered Social Media

Blockchain
May 25, 2020 Komal Joshi
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Virtual reality media platform, Sensorium, has declared its membership in the GGBC or Global Blockchain Business Council — a Swiss-based non-profit industry association for blockchain. Sensorium will partake in GBBC’s forthcoming virtual forum on May 28, which will view the firm’s director of technology Alex Blagirev consider his forecasts for how virtual social media will
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Virtual reality media platform, Sensorium, has declared its membership in the GGBC or Global Blockchain Business Council — a Swiss-based non-profit industry association for blockchain.

Sensorium will partake in GBBC’s forthcoming virtual forum on May 28, which will view the firm’s director of technology Alex Blagirev consider his forecasts for how virtual social media will transform the way that people communicate online.

DLT protects copyright for user content

A GBBC representative stated that VR and social media convergence are already starting to obtain momentum, regarding that significant platforms such as Facebook “are giving users new means to share and experience content.”

“Within this context, blockchain technology will likely play an essential role in the creation of digital assets and an online virtual economy,” the representative stated.

“Furthermore, blockchain technology could be used to protect ownership and copyright, as well as create new models of advertising in virtual worlds, much as it is already doing in the real world.”

Blockchain may eliminate identity theft on social media.

Sensorium’s CCO, Brian Kean, highlighted the security advantages granted by distributed ledger technology, or DLT, saying:

Fake accounts, Identity theft, etc. all will be, to no small extent, reduced as human participants in the socially-virtual world will be expected to verify their identity through the blockchain.

Kean also unveiled that blockchain will also be utilized to “facilitate payment for created, third-party content.”

Sensorium to engage policymakers through GBBC

As a GBBC member, Sensorium will partake in a range of GBBC activities intended at “advancing the adoption of blockchain technology and educating regulators, policymakers, and business leaders on the benefits of the technology.”

The two entities started formally operating together at the GBBC’s flagship event, Blockchain Central Davos, where Sensorium participated. “We closed out the evening with a special demo of Sensorium’s VR platform and a performance by GBBC Arts and Music Ambassador and Former Drummer for Guns N’ Roses, Matt Sorum,” added the GBBC spokesperson.

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