On May 18, Sensorium, a virtual reality media platform, confirmed its membership in the Global Blockchain Business Council, or GBBC. GBBC is a Swiss-based non-profit industry association for blockchain. Sensorium is scheduled to participate in GBBC’s upcoming virtual forum that will take place on May 28.
During the virtual forum, Sensorium’s director of technology, Alex Blagirev will discuss his predictions for how virtual social media is expected to change the way people interact online.
Reporters spoke to GBBC to determine the critical intersection between virtual reality (VR) and social media. Learning that intersection will also help determine the role that blockchain will play in the sector’s future.
DLT Can Protect User Content’s Copyright
One GBBC representative said that the convergence of VR and social media is already starting to gain speed. Major social media platforms like Facebook are:
“providing users with new ways to share and experience content. Blockchain technology will likely play an important role in creating digital assets and an online virtual economy within this context. Furthermore, blockchain technology could be used to protect ownership and copyright, as well as create new models of advertising in virtual worlds, much as it is already doing in the real world.”
Blockchain Can Reduce Identity Theft
Brian Kean, Sensorium’s CCO, said that blockchain provides many benefits when it is integrated with social media. He emphasized on the security advantages that are provided by the distributed ledger technology (DLT) adding:
“Identity theft, fake accounts, etc. all will be, to a large extent, eliminated as human participants in the socially-virtual world will be required to verify their identity via the blockchain.”
Kean also said that blockchain would also be utilized to facilitate payments for the created and third-party content.
Sensorium Engages Policymakers Via GBBC
Sensorium, acting as a GBBC member, will participate in many of the GBBC activities aimed at:
“advancing adoption of blockchain technology and educating regulators, policymakers, and business leaders on the benefits of the technology.”
These two entities started officially working together at the GBBC first event, Blockchain Central Davos, where Sensorium was a participant. The GBBC spokesperson commented:
“We closed out the evening with a special demo of Sensorium’s VR platform and a performance by GBBC Arts and Music Ambassador and Former Drummer for Guns N’ Roses, Matt Sorum.”
Technological advancements are changing every sector of the world. It seems like it is the turn for the social media space to benefit from blockchain development advancements.