Home Cryptocurrency BSV president urges Meta to store data for its metaverse on a public blockchain

BSV president urges Meta to store data for its metaverse on a public blockchain

by Gordon James

The president of Bitbean, a cryptocurrency coin that is based on the Ethereum blockchain has issued an open invitation for Metaverse to store its data on their public Blockchain.

The “coingeek” is a blog that covers the cryptocurrency space. The blog’s author, John McAfee, has urged Meta to store data for its metaverse on a public blockchain.

BSV president urges Meta to store data for its metaverse on a public blockchain

 

While Meta has yet to start its metaverse project, Jimmy Nguyen, President of the Bitcoin SV (BSV) Association, believes it would be preferable for the company to store user data on a public blockchain. 

Nguyen told Cointelegraph that a worldwide and interoperable metaverse ecosystem would imply that individual data will be maintained on a public blockchain. Meta might become an interface that links a blockchain to enterprises’ metaverse applications if it follows this path, according to Nguyen. Once users provide their approval, other metaverses will be able to access their data. According to the president of the BSV,

“I hope Facebook/Meta follow the route of building the ecosystem but not uniquely storing your identity and data on their own servers.”

Furthermore, the BSV president emphasized that such a goal requires a scalable blockchain capable of handling enormous volumes of transactions and data. The BSV blockchain, according to Nguyen, is capable of this.

“A large amount of data is required for a functioning metaverse. As a result, integration with a blockchain with vast size, data capacity, and cheap costs may benefit metaverse projects.”

As a result, Nguyen expressed his conviction that the BSV blockchain might play a role in the metaverse in terms of payments and as a central ledger for all data files required by projects wishing to create metaverses.

Related: A Singapore-based venture capital company has launched a $100 million Web3 and metaverse fund.

A Lego Group official suggested in a panel discussion at the World Economic Forum (WEF) that metaverses must be designed with children’s viewpoints in mind. Given that children will be the future consumers of metaverses, Edward Lewin, a vice president at the firm, believes that adults should concentrate on “creating from the viewpoint of children.”

Meanwhile, according to a recent poll done for the World Economic Forum, poor nations are more interested in the metaverse than industrialized ones. High-income nations exhibited less interest in the metaverse among the 21,000 persons polled across 29 countries.

The “buybsv down” is a petition that was created by the BSV president. The petition urges Meta to store data for its metaverse on a public blockchain.

Related Tags

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