Blockchain technology to bring VR and social media closer

Investing in blockchain-integrated social media startups could be ...

Digital simulations company Sensorium Corporation has recently announced its membership in the prestigious industry association for the blockchain technology consortium, called the Global Blockchain Business Council (GBBC).

Blockchain technology found a keen supporter in Sensorium ever since the latter actively participated in 4th Annual Blockchain Central, held in Switzerland, at the start of this year.

The event saw several popular industry names, developers, and leading technology entrepreneurs, discuss how social media will be primarily influenced by virtual reality and the role blockchain plays in bringing the two technologies together.

Sensorium joins GBBC consortium

Now, as a member participant of GBBC, Sensorium is expected to participate and contribute toward informing and raising awareness surrounding crucial blockchain developments and empowering the youth with leading technological advancements.

Scheduled to address the GBBC’s virtual conference on May 28, Sensorium’s technology director, Alex Blagirev, hopes to make an impact by putting forth his predictions about the imminent confluence of social media with virtual reality and blockchain technology setting the stage for the merger.

Speaking at a recent interview, Blagirev asserts that virtual reality has transformed the way people share and experience the content. It’s likely to be the next trend-setter in the social media industry. And for that to happen, blockchain technology will play a vital role by essentially creating a virtual economy with digital assets, he affirmed.

Blockchain technology to pilot convergence of social media and VR

Blockchain’s potential could also be leveraged to safeguard ownership on social media platforms and eliminate issues relating to copyright infringement. It can help us develop revolutionary advertising models for the new age virtual world, Blagirev added.

Adding more thoughts to what makes blockchain technology a lucrative design model for the real world-like digital simulations business, Sensorium’s COO, Brian Kean, emphasized on the security benefits.

He believes that using the distributed ledger technology (DLT), issues concerning fake accounts and data theft can be curtailed to a large extent as the blockchain technology will necessitate identity verification.

Using blockchain technology, social media platforms will be able to reward VR content creators directly for their contribution. A win-win-win situation for all three parties, Kean concluded.

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