How Will Virtual Reality Affect Bitcoin And The Blockchain?

There is a lot of focus on the virtual reality space right now, although there is no direct correlation with digital currency just yet. Although most people might argue that seeing blockchain transactions in VR might be a more fun experience, it will be interesting to see how Bitcoin wallet solutions will look in a virtual reality setting.

Also read: Deutsche Bank Report Advises Companies To Explore Blockchain Technology

Bringing Digital Currency Virtual Reality

TheMerkle_Virtual Reality Bitcoin Blockchain

Most people think of virtual reality as a way to enhance the user experience, by offering a 360-degree view or having the ability to create one’s own environment to work in. Even though this lends itself ideally to content consumption, such as watching a movie or even playing video games, it is not necessarily all that useful for digital currency wallets.

Moreover, there seems to be little use for the VR ecosystem as far as a Bitcoin wallet is concerned. After all, there is very little going on with the average wallet, as there are the incoming and outgoing transactions, as well as the balance. None of the features require virtual reality per se, although one never knows what developers might come up with.

Experiencing the blockchain in virtual reality, on the other hand, could be quite interesting, though. Considering how this technology broadcasts all transactions on the network in real-time, there is potential for a more immersive user experience by embracing the concept of virtual reality.

Additionally, VR could help gain people a better understanding of blockchain technology, as they would – theoretically speaking – be able to surround themselves with the blockchain itself. Use case examples, such as smart contracts, could be explored in-depth, and additional knowledge or ideas could be gathered.

It remains to be seen whether or not here is an interesting in merging VR with the digital currency. The concept seems a bit moot right now, although there are potential advantages to doing so. However, the focus of Bitcoin should be on the development of the currency and protocol itself right now, rather than VR.

Source: Reddit

Images credit 1,2

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  • Benjamin Ignacio

    In the real world, one has to carry a ton of fiat currency to move it elsewhere, say, to Carribean or Anthiles. Big hoards of cash and gold are going the way of “Brexit Effect” – 21st century Galleon Trade. Why take the risk if there is this Bitcoin solution. In the virtual world, a baseball field size depository can fit a tube and a box. Putting a denomination, say, bit worth a billion or quadtrillion. Hi to distinguish a bit from a lo. Cyberspace is universe. Analog design Bitcoin wallet. Whatever bitcoin treatment, as a base currency. as payment or foreign exchange, the customer want “amusement”. An “after effect”. Coin cascading inside tube of a cracked vintage slot machine. Tube full, half cascade in the box below. The box, now, “own savings bank”. “After Effect” occurs during a “refill or reload”. Analog. The sparkle and clinging sound of an ice cube plush to a glass of whisky or scotch and vodka. The colors of platinum and gold of a Bitcoin Bank wallet. May neither sink or crash.

  • benjamin Ignacio

    Now, either spend or invest playing Bitcoin Spider Slot. “Helps” decide choose a namebrand. A variation.. What is Bitcoin Spider Slot? It is a Point Slot Game that aims to achieve economic and political goal in a Bitcoin community. A point won after a purchase. Buy a Benz and a mansion. The buyer deserves more than the car and bedspace. Here, a point is won at Lawson or AEON each time. The variation is the “lucky” and amusing portion. With so many choices, life is a gamble. No one is foreever. Geography is. It happens that after a Bitcoin routine transaction, within seconds after seeing in the wallet a modest fee and a rather generous one a second later, a piece or a a whole lot in the exchange disappear. If it is a token IOU, the hacker would have careless. The more if it is a “90-day tok”en”. Bitcoin is judge not money in Florida. Here, it is ruled as asset the owner can add value. A regulated commodity. What then is a 90-day token?. Knock. IOU. Enter. It is no robbery. If ever it happens, 90 days is long to figure a transaction is a joke, Why 90 days? A robber gets the egg. No time to wait feed a chicken. A boss require his/her buyer to place an order payable in 90 days. The boss says it take that long to manufacture a product and sell it for cash, Bitcoin or on credit. True. It defies logic that cash or Bitcoin dissapear seconds after a transaction. 90 days it takes labouring to deliver. “it takes 90 days for the egg to hatch”. On Day 01 og the transaction, the token allow verification by the owner’s bank of supply chain traceability and redeem the token on maturity. Prepaid or not, the token transaction is an IOU payable in 90 days. A “Premium Payment” scheme, not a virtual slave, takes charge of the bill. The “after Effect” happens the moment the bank redeems the token. With negative interest rate, chances are, one will loose ownership of a passbook or wallet. Also, it will proove more costly not to own a bank account and redeem a maturing token. Credit standing is on the line. The wallet is one’s passbook and passport to live in a Bitcoin community where robbers and hackers can be put on notice.