With crypto adoption on the horizon and 20% of Turkey’s population already using cryptocurrency, Istanbul Blockchain Week 2022 panelists expressed optimism regarding the adoption of the next generation of blockchain technology despite the currently prevailing market sentiment and discussed the catalysts of metaverse success.
CEO of Elixxir and cryptography pioneer, David Chaum, expressed that the ongoing issues in centralized finance might hopefully be able to “stimulate the adoption of this next generation of technology” without the vulnerabilities.
Chaum explained that the cryptographic techniques used to establish “very general properties” and to “do very general computation” have become “reasonably efficient” and easy to use in our modern times.
“The fact that [they] can be widely used without being a cryptographer is gonna make a huge impact.”
Furthering the bullish sentiment of the event, COO of The Sandbox, Sebastien Borget, evaluated the deployment of Meta’s Metaverse, and what he believes are the key aspects to metaverse success.
“What Meta hasn’t done right was to announce the Metaverse way too early. They made a very bold move to rebrand the company without having a product ready.”
Borget expressed his opinion that Meta focused too much on the technology instead of the content involved and the user experience (UX).
“The success of the metaverse will come from content, people, and technology.”
As the COO of a virtual world – where players are able to build, own, and monetize their own gaming experience – Borget explained:
“We know the strengths and weaknesses. We are not the best gaming platform in the world, but we know we can provide a fun place to socialize, interact, and easily create on Sandbox, while we work on the product to improve our weaknesses.”
Borget discussed the opportunity that creators have to be more creative and earn revenue from their creations. “It is the realization that our mission is becoming more and more concrete,” he concluded.