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Blockchain will play a crucial role in social media based on virtual reality

May 25, 2020

The virtual reality media platform Sensorium announced its membership in the Global Blockchain Business Council (GBBC), a Swiss-based non-profit industry association for blockchain.

Sensorium will be attending the upcoming GBBC virtual forum on May 28, where the company’s chief technology officer, Alex Blagirev, will discuss his predictions about how virtual social media will change the way people interact online.

Cointelegraph spoke to GBBC about the interface between social media and virtual realityor VR and the role that blockchain will play in the future of the sector.

DLT protects the copyright of user content

Blockchain will play a crucial role in social media based on virtual realityBlockchain will play a crucial role in social media based on virtual reality

A GBBC representative said the convergence of VR and social media is already gaining momentum, and found that major platforms like Facebook “offer users new ways to share and experience content.”

“In this context, blockchain technology is likely to play an important role in creating digital assets and a virtual online economy.”the representative explained.

“In addition, blockchain technology could be used to protect property and copyrights, as well as to create new advertising models in virtual worlds, as is already the case in the real world.”

Blockchain can prevent identity theft on social media

COO from Sensorium, Brian Kean emphasized the security benefits of distributed log technologyor DLT with the following information:

Identity theft, fake accounts, etc. They are largely eliminated because human participants in the social-virtual world have to verify their identity through blockchain.

Kean also announced that the blockchain is also being used to “facilitate payment for third-party content.”

Sensorium will involve lawmakers on GBBC

As a member of the GBBC, Sensorium will participate in a number of GBBC activities aimed at “driving the adoption of blockchain technology and educating regulators, policy makers and leaders about the benefits of the technology”.

The two companies officially started working on GBBC’s flagship event Blockchain Central Davos, in which Sensorium participated.

“We ended the evening with a special demonstration of Sensorium’s VR platform and a performance by GBBC art and music ambassador and ex-Guns N ‘Roses drummer Matt Sorum.”added the GBBC spokesman.

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