Vladimir Okhotnikov is developer of Metaverses, leading expert in Blockchain, crypto-investor
Blockchain: a new era of financial and management technology
Two parallel processes are unfolding before our eyes, each having a decisive impact on the development of the digital economy.
The first one is the Blockchain. It is the technology proposed by Satoshi Nakamoto at the end of the Zero years and it underwent a radical transformation. While the Blockchain was initially perceived as a tool for the release of cryptocurrency, now it is more and more used in applications related to the organization of management of complex digital systems. Such systems are based on smart contracts offered by Vitalik Buterin.
“Blockchain was a surprise and timely discovery. The apparent impasse in the modern fiat financial system required resolution. And I must say, the Blockchain, if it didn’t fix the situation, has shown us the way. Theoretically, it was immediately clear that its capabilities were significantly higher than the creation of cryptocurrencies. Vitalik Buterin gave us an instrument, which allows us to realize these opportunities…”
A smart contract is an agreement implemented on the Blockchain that cannot be changed. In fact, we get both a digital judge and a bailiff who record the parties’ agreements and oversee their implementation. The difference is that a judge can be subjective and give in to emotion, while smart contract is emotionless and absolutely objective.
Metaverses: the evolution of the digital world
The second global process is the development of the Metaverses. Philosophically speaking, the logic of the evolution of computing led to the maximum fusion of man and computer. How this happens technologically is a complex issue. Whether it’s going to be some sort of neural interface that directly connects the brain to the computational module, or whether traditional methods are going to stay with the screens, or maybe some three-dimensional image generator, whatever. The fundamental question: how to make the digital world comfortable and understandable for humans?
Today we use various software interfaces to communicate with the computer. Yes, we are used to using on-screen buttons, commands, and various forms. The computer mouse (and its functional analogues) became almost part of our body, the fingers mastered new motor skills for quick text input, emoji icons appeared for quick communication. Of course, it can be said that this is a transition to a new stage of human evolution, but all this is a consequence of the limitations associated with the human-computer interface.
“The appearance of metaverses is a natural process. It is the result of a certain evolution of the relationship between humans and computers. We went from primitive punch cards to displays, and now we’re going up into the metaverses. What will happen next – it is difficult to say, most likely, there will be an increasing interpenetration of the real and digital worlds…”
Vladimir Okhotnikov
The metaverse concept proposes to solve this problem once and for all. The person in the form of his own digital avatar is transported to the familiar three-dimensional digital world and there interacts with the computer and other users in the usual way, as if such interaction were taking place in reality. In the first stage, avatar control can be implemented by traditional methods (for example, a computer mouse and computer monitor), but there is no doubt that in the foreseeable future there will be mass gadgets for full immersion into the digital space.
Vladimir Okhotnikov: the synergy of Blockchain and metaverses
When creating the metaverse, fundamental questions arise: Who will it be governed by? Will the metaverse have special legislation? How will trade be organized? How will the economy and financial system be organized?
And these are not philosophical, but, above all, technical issues. Do you have any idea how many computing resources it would take to keep this structure online? And what level of protection will be put against various types of hackers and scammers?
As for the principles of governance, it is necessary to disappoint those who wish to become Emperor of the Universe, because to create a metaverse optimized under sole monarchical authority is possible, but to force users to be in it is a hard task. So, if you’re interested, you can be the Bot Emperor.
The Emperor’s example is to show how important governance is and how it will affect the viability of the metaverse. Clearly, the principles of governance and the organization of power must be attractive to users and consistent with their notions of fairness and justice.
As we move on to the answers to these kinds of questions, it is understood that the only technology that can guarantee their solution is the Blockchain.
It is the Blockchain that can organize a fair system of governance. Here, justice is not an emotional artistic image, but a very specific concept, independent of political beliefs and personal sympathies and antipathies. Justice is the implementation of agreements, no matter who and when they are made. Imagine if all presidents kept their campaign promises, how wonderful life would be on planet Earth! And in the metaverse (unfortunately, so far it is only possible in the digital world) the commitment, fixed in a smart contract, will have to be fulfilled. The same applies to any arrangement: between the system and the user, between users, in business, in private life, everywhere!
«When we connected the Blockchain and Metaverse, we got a synergistic effect. Blockchain has shown that cryptocurrencies are only one of areas of its application, and Metaverse has a universal tool for organizing almost all the control processes. Decentralization of the Blockchain removes the question of the management system. The universe is governed by a clear and transparent program based on immutable laws. This is real freedom and equality…»
Vladimir Okhotnikov
Blockchain is ideal for organizing a decentralized economic and financial system. Here, perhaps, the explanation is superfluous, just remember that Bitcoin based Blockchain has existed for fifteen years without any controlling human intervention. This proves the extraordinary resilience and security of technology.
Blockchain-based finance is a fairly obvious solution, but Blockchain is also applicable for the release of digital goods. To do this, use NFT (non-fungible token), which are tied to almost any digital object. You draw a burger, tie it to the NFT, and the picture becomes a product ready for sale.
So, in the metaverse, you can sell and buy anything, regardless of size and value. If you want to buy your own planet or star system, you can do it, all depends only on the imagination of developers and available computing power.
Blockchains have repeatedly predicted a beautiful future in our reality. And this future was not just about cryptocurrencies, the possibilities of technology are much wider. However, the traditional conservatism of society is slowing down the introduction of something new, and the emergence of non-cryptocurrency Blockchain applications is slow.
The emergence of metaverses fundamentally changes the situation. Before us is a green field, which can be filled with the most effective applications and solutions. And then there’s a positive example of using Blockchains in digital space, and there’s a good chance that all the digital advances in the meta-world will be translated into reality.
At least we want to believe.