What problems can blockchain solve for the VR sector?
Blockchain can be used for multiple purposes in the VR sector. Most use cases would revolve around verification of identity or of a transaction, and removing the network load that those processes would take. If we end up in a future — and VR companies want this — where millions or billions of people are connecting in VR, the visual data alone could potentially cripple servers. Putting as many processes onto blockchain that don’t require the raw speed of a central server will greatly enhance and speed up the sensory experience in VR. Identity databases to verify users securely, transactions done in virtual marketplaces, the accountability of virtual currency within VR, none of this needs to be done on a central database to potentially bottleneck the VR experience.
The VR sector needs blockchain because blockchain inherently comes with built-in security and privacy through key pairing and other cryptographic processes depending on what you program into a blockchain. The Internet itself is not inherently secure or private, and if people are to truly express themselves in VR, they should want that inherent security and privacy to be able to freely do so. The amount of identity theft and consumer data leaks through traditional server-based services warrant that any newly developed interactive and interconnected technology — such as VR — should come with security baked in from the beginning, and privacy should be an option. Blockchain can provide that out of the box, making users more comfortable in VR.
Anything that doesn’t need the speed of a centralized server and can take away server-load from the VR experience is a top use case for blockchain in VR. Handling virtual currencies in an immutable ledger for trust and ease of use in VR marketplaces is the low hanging fruit. VR is a visual medium, and interacting with QR codes — a cornerstone of blockchain transactions — is a no-brainer in a virtual space as it would allow for a secure and private cryptographic “handshake” between two accounts, or really any kind of information exchange. The secure storage of virtual currency within VR also begs for blockchain as it could be handled on-device, without the need of trusting or bogging down servers that are already working hard in making the virtual reality a reality. Again, if we’re talking about potentially billions of people, making transactions as trustless and off-server as possible is a must.
Blockchain could also resolve “account duping” by creating a decentralized identity database that could be kept on the VR user’s device (computer, headset, etc.), away from malicious parties that may try to access your account, pretend to be you, or engage in identity theft by accessing a central server. The user can always have ultimate control of their identity because they don’t have to trust some far off server.
MoCo (https://mocotoken.io) is the world’s first 3D/AR/VR/MR platform that combines artificial intelligence, blockchain-based tokenized marketplaces and payments, and state-of-the-art video compression — new technology that can decrease 4K 360-degree video to a tenth of the size of competing formats. MoCo will also allow any virtual or augmented reality project to launch on the platform, but mass human communication is at the heart of what we’re developing right now. While many companies are individually working with AI, VR, blockchain and video compression, the MoCo Team is bringing all of them together to allow for a 3D virtual world that mirrors communication in the real world. With just your smartphone camera, you will be able to make a 3D virtual avatar that exists on the MoCo Platform, with AI translating and emulating your real-life gestures into the avatar. MoCo’s video compression technology can take a 1.7 GB 4K 360 degree video file and compress it to 24 MB with negligible to no difference in image quality. When utilized for real-time Live 4K 360 degree content — which averages at 56 MB per second while streaming — MoCo’s AI can compress the stream to 1/100th of that. All of this together creates the next leap in the way humans communicate.