• bitcoinBitcoin(BTC)$29,370.00-3.00%
    BITCOIN
    24H : -3.00%
    Volume : $25,980,757,730.00
    Marketcap : $559,431,839,206.00
  • ethereumEthereum(ETH)$1,983.44-3.01%
    ETHEREUM
    24H : -3.01%
    Volume : $14,170,106,407.00
    Marketcap : $239,696,353,827.00
  • tetherTether(USDT)$1.000-0.15%
    TETHER
    24H : -0.15%
    Volume : $48,419,303,796.00
    Marketcap : $73,242,521,164.00
  • binancecoinBNB(BNB)$328.161.16%
    BNB
    24H : 1.16%
    Volume : $1,797,455,152.00
    Marketcap : $55,276,958,225.00
  • usd-coinUSD Coin(USDC)$1.00-0.16%
    USD COIN
    24H : -0.16%
    Volume : $5,555,121,126.00
    Marketcap : $53,253,326,105.00
  • rippleXRP(XRP)$0.410-2.78%
    XRP
    24H : -2.78%
    Volume : $1,814,249,687.00
    Marketcap : $19,869,788,019.00
  • binance-usdBinance USD(BUSD)$1.00-0.41%
    BINANCE USD
    24H : -0.41%
    Volume : $6,845,854,084.00
    Marketcap : $18,329,560,283.00
  • cardanoCardano(ADA)$0.520-4.40%
    CARDANO
    24H : -4.40%
    Volume : $663,645,218.00
    Marketcap : $17,588,358,909.00
  • solanaSolana(SOL)$49.76-5.29%
    SOLANA
    24H : -5.29%
    Volume : $1,428,459,000.00
    Marketcap : $16,875,337,653.00
  • dogecoinDogecoin(DOGE)$0.085-2.07%
    DOGECOIN
    24H : -2.07%
    Volume : $417,346,975.00
    Marketcap : $11,232,506,423.00
Cointelegraph.com.au
  • bitcoin
    BTC$29,370.00-3.00%
  • ethereum
    ETH$1,983.44-3.01%
  • tether
    USDT$1.000-0.15%
  • binancecoin
    BNB$328.161.16%
  • usd-coin
    USDC$1.00-0.16%
    • News
      • Bitcoin News
      • Ethereum News
      • Altcoin News
      • Press Releases
      • Analysis
      • ICO News
      • Technology
    • Videos
      • Altcoin Videos
      • Bitcoin Videos
      • Blockchain Videos
      • Ethereum Videos
      • ICO Videos
    • Crypto Exchanges
    • Market Cap
    • ICOs
    • Submit Press Release
    • Contact Us
    No Result
    View All Result
    • News
      • Bitcoin News
      • Ethereum News
      • Altcoin News
      • Press Releases
      • Analysis
      • ICO News
      • Technology
    • Videos
      • Altcoin Videos
      • Bitcoin Videos
      • Blockchain Videos
      • Ethereum Videos
      • ICO Videos
    • Crypto Exchanges
    • Market Cap
    • ICOs
    • Submit Press Release
    • Contact Us
    No Result
    View All Result
    Cointelegraph.com.au
    No Result
    View All Result
    Home News Technology

    Coinbase CEO: Crypto in VR is the Next Big Application of Blockchain

    cointelegraph by cointelegraph
    May 15, 2020
    in Technology
    Reading Time: 2 mins read
    4.1k 170
    0
    Coinbase CEO: Crypto in VR is the Next Big Application of Blockchain
    5k
    SHARES
    38.8k
    VIEWS
    Share on FacebookShare on Twitter

    Either it will be the best thing the crypto world will ever experience or a farce in the name of the best thing the world will ever experience.

    That’s pretty much the discussion around virtual reality (VR), a technology which allows humans beings to experience an immersive illusion of being somewhere else. Many Hollywood blockbusters, including The Matrix, and the very recent Ready Player One, attempted to illustrate how the next generations of VR technology could be. In these movies, protagonists were living inside a world created by stunning – and almost paranormal – objects. They had a job (even if it was about kidnapping a key maker), expensive Ferraris, and even a bae to hang out with.

    Related articles

    Report: The Biggest Crypto Bears Are Selfish Chinese Miners

    Report: The Biggest Crypto Bears Are Selfish Chinese Miners

    May 15, 2020
    Crypto Crash Reality Check a Good Thing For The Industry

    Crypto Crash Reality Check a Good Thing For The Industry

    May 15, 2020

    Away from the sci-fi, engineers meanwhile are exploring real-time use cases based on the VR. The technology is promised to gamers, with the influx on highly-handed games launched by the Play Station and the Xbox. Apart from that, the possibilities of removing the middle layer of keyboards and emails and using avatars to pass down information at workplaces are also being explored.

    It could be a reason why Brian Armstrong, co-founder of one of the largest crypto exchanges Coinbase, believes that VR 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 any other 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 cycle for companies building these worlds.”

    Bitcoin in a VR World

    Armstrong referred to the copper coins from the movie Ready Player One. These coins were a form of treasure or reward a character would receive within the OASIS, a virtual reality world. Players used a bag of holdings to store these coins.

    Developers of such virtual worlds could create their centralized digital currency or use an existing decentralized currency like Bitcoin or Ethereum, Armstrong suggested. He also envisioned how people would start spending more time in the VR world to earn a passive income, especially when it’s going to be usable in the real world.

    “Customers of these products can take the money they generate in the virtual world, and convert it to traditional money to pay their bills in real life. This will help take virtual reality from a hobby or entertainment to a full time job or lifestyle,” Armstrong explained.

    While the theory itself seems like a sci-fi, it is still very interesting from the technological point of view. Who knows, nobody would need to go to the office anymore as they wear a headset and control every random task via an avatar.

    Read More From Original Source

    Tags: blockchaincoinbaseethereumVR
    Share2018Tweet1262
    cointelegraph

    cointelegraph

    Related Posts

    Report: The Biggest Crypto Bears Are Selfish Chinese Miners

    Report: The Biggest Crypto Bears Are Selfish Chinese Miners

    by cointelegraph
    May 15, 2020
    0

    Many have been wondering which group represents the majority of crypto bears recently as prices keep plummeting. Those that got...

    Crypto Crash Reality Check a Good Thing For The Industry

    Crypto Crash Reality Check a Good Thing For The Industry

    by cointelegraph
    May 15, 2020
    0

    The long drawn out bear market of 2018 has been very painful for a lot of crypto traders. However, it...

    Innovation Continues Despite Crypto Crush, 0x Launches Web and dApp Payment Platform

    Innovation Continues Despite Crypto Crush, 0x Launches Web and dApp Payment Platform

    by cointelegraph
    May 15, 2020
    0

    As cryptocurrency prices continue to tumble, some blockchain projects may disappear into the digital dust while others forge on with...

    Ripple Exec: Crypto Technology Needs Improvement Before Adoption

    Ripple Exec: Crypto Technology Needs Improvement Before Adoption

    by cointelegraph
    May 15, 2020
    0

    This year’s bear market has seen most of the top cryptocurrencies hemorrhage over 80% as they plummet from those lofty...

    Crypto and Blockchain Smartphones Will be The Next Big Thing

    Crypto and Blockchain Smartphones Will be The Next Big Thing

    by cointelegraph
    May 15, 2020
    0

    This week the crypto-sphere has been awash with talk about Samsung and its next generation flagship phone coming loaded with...

    Load More
    Please login to join discussion
    • Trending
    • Comments
    • Latest
    Binary Bot 95%| Free Download

    Binary Bot 95%| Free Download

    March 12, 2020
    FREE BITCOIN CRYPTOTAB HACK SCRIPT 2020 , 14 BTC WORKING

    FREE BITCOIN CRYPTOTAB HACK SCRIPT 2020 , 14 BTC WORKING

    March 31, 2020
    𝗙𝗿𝗲𝗲 Blockchain fake bitcoin transaction software (R.B.F full option)

    𝗙𝗿𝗲𝗲 Blockchain fake bitcoin transaction software (R.B.F full option)

    February 16, 2020
    Blockchain   Bitcoin Miner V3 2  Best Blockchain Mining Tool    2020

    Blockchain Bitcoin Miner V3 2 Best Blockchain Mining Tool 2020

    June 27, 2020
    Analyst Who Predicted Bitcoin’s $3,000 2018 Bottom Says This is Next

    Analyst Who Predicted Bitcoin’s $3,000 2018 Bottom Says This is Next

    0
    Bitcoin to Be One of the 2020s’ Top Investments: Ex-Goldman Sachs Exec Says Why

    Bitcoin to Be One of the 2020s’ Top Investments: Ex-Goldman Sachs Exec Says Why

    0
    This Eerily Accurate Fractal Suggests Bitcoin Will Soon Explode to $12,000

    This Eerily Accurate Fractal Suggests Bitcoin Will Soon Explode to $12,000

    0
    Last Year’s Top Crypto Market Performers Are Lagging Behind Altcoins in 2020

    Last Year’s Top Crypto Market Performers Are Lagging Behind Altcoins in 2020

    0
    UST

    Nox Bitcoin To Refund UST At $1 To Their Customers

    May 23, 2022
    Bitcoin

    TA: Why Bitcoin Price Could Explode Above $30.6K In Near-term

    May 23, 2022
    Bitcoin

    Bitcoin Reclaims $30K Territory After Recent Weeks’ Struggle – Analysts Weigh In

    May 24, 2022
    Ethereum

    Ethereum Could Tank Further; Here’s What The Charts Say

    May 23, 2022
    bitcoin Bitcoin
    $29,370.00
    $29,370.00
    EUR: €27,518.81
    GBP: £23,373.32
    7D Chart-3.00%
    ethereum Ethereum
    $1,983.44
    $1,983.44
    EUR: €1,858.42
    GBP: £1,578.47
    7D Chart-3.01%
    tether Tether
    $1.000
    $1.000
    EUR: €0.937
    GBP: £0.796
    7D Chart-0.15%
    ripple XRP
    $0.410
    $0.410
    EUR: €0.384
    GBP: £0.326
    7D Chart-2.78%
    cardano Cardano
    $0.520
    $0.520
    EUR: €0.487
    GBP: £0.414
    7D Chart-4.40%
    litecoin Litecoin
    $69.62
    $69.62
    EUR: €65.23
    GBP: £55.41
    7D Chart-2.84%
    bitcoin-cash Bitcoin Cash
    $192.80
    $192.80
    EUR: €180.65
    GBP: £153.43
    7D Chart-2.56%
    eos EOS
    $1.33
    $1.33
    EUR: €1.25
    GBP: £1.06
    7D Chart-3.18%

    Recent News

    UST

    Nox Bitcoin To Refund UST At $1 To Their Customers

    May 23, 2022
    Bitcoin

    TA: Why Bitcoin Price Could Explode Above $30.6K In Near-term

    May 23, 2022
    Bitcoin

    Bitcoin Reclaims $30K Territory After Recent Weeks’ Struggle – Analysts Weigh In

    May 24, 2022

    Categories

    • Altcoin News
    • Altcoin Videos
    • Analysis
    • Bitcoin News
    • Bitcoin Videos
    • Blockchain Videos
    • Ethereum News
    • Ethereum Videos
    • ICO News
    • ICO Videos
    • News
    • Press Releases
    • Technology
    • Uncategorized
    Cointelegraph.com.au

    Bringing you the very latest crypto news and reviews from around the world.

    • About
    • Contact Us
    • Submit Press Release
    • Privacy Policy

    © 2019 Cointelegraph.com.au

    No Result
    View All Result
    • News
      • Bitcoin News
      • Ethereum News
      • Altcoin News
      • Press Releases
      • Analysis
      • ICO News
      • Technology
    • Videos
      • Altcoin Videos
      • Bitcoin Videos
      • Blockchain Videos
      • Ethereum Videos
      • ICO Videos
    • Crypto Exchanges
    • Market Cap
    • ICOs
    • Submit Press Release
    • Contact Us

    © 2019 Cointelegraph.com.au

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In

    Add New Playlist

    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.