How Cryptocurrency and Blockchain Will Intersect with Virtual Reality

by | Mar 6, 2019

In the future, virtual reality will intersect with cryptocurrency and blockchain technology to create some exciting innovations. Below are a few ways this might happen.

Virtual Reality Platforms Powered By Cryptocurrency

Currently there is a virtual reality platform called Decentraland that is powered by the Ethereum blockchain. In this virtual reality world, users can create and explore various 3D creations while also playing games with others and socializing. It is kind of similar to Minecraft except that it is three-dimensional and fully powered by Ethereum. You can create and explore your various plots of land and you can even purchase your own land through the blockchain and cryptocurrency technology.

In addition, there is a Decentraland Marketplace where users can buy, sell, and discover parcels of land on Decentraland. The marketplace is an open market where the power is fully decentralized which is a pretty unique concept for virtual reality worlds.

Cryptocurrency, Virtual Reality, and Gaming

Virtual reality technology has greatly improved over the years, which means it’s being more widely implemented in a variety of industries, from healthcare to retail. But one of its most popular uses remains in the gaming industry, from action-filled video games like Robo Recall to social and immersive poker games like PokerStars VR.

The cryptocurrency technology is so popular amongst virtual reality gamers because it allows them to transfer funds while cutting out the middleman. In addition, using a virtual reality cryptocurrency payment system is actually much safer than utilizing a traditional centralized bank to make payments. This is because cryptocurrencies like Bitcoin are decentralized and are nearly impossible to hack because each part of the information for your Bitcoin is scattered throughout thousands of computers across the world.

VR Education on Cryptocurrency

Cardano is currently working on creating a 3D environment that will allow virtual reality users to experience the landscape and explore Bitcoin blocks as tangible objects in their virtual reality world. They are currently calling the virtual reality came “The Symphony of Blockchains.” This game will be a way to explore Bitcoin and various types of cryptocurrency in an interactive way with both visual and auditory elements that will help players better understand the concepts.

Users will be able to navigate their way through the history of cryptocurrencies and blockchains while also learning about the internal properties of them both. It will help the players understand the differences between various types of cryptocurrencies like Bitcoin, IOTA, Cardano, and Ethereum. This will truly be an education experience on cryptocurrency that will be unparalleled for years to come.

3D Blockchain in Virtual Reality

Never before has Bitcoin or blockchain had a physical identity. It can even be difficult for Bitcoin or other cryptocurrency users to visually describe the decentralized currency where they have invested their money. But now with the help of virtual reality, a British developer named Kevin Small is working hard to create a working model where people can trace the flow of Bitcoins through virtual reality.

Through this virtual reality experience, users will be able to see the visual flow of their cryptocurrencies and see it in real-time rendering. It can take Bitcoin to entirely new levels where you can get a daily dose of how Bitcoin is being exchanged and traded across the world.

Interested in checking it out? This software to track bitcoins in a 3D method is available on Windows, Android, Mac, and Linux and can be downloaded for free. In addition, if you want to use actual virtual reality platforms, it also works with Google Cardboard. Take your Bitcoin and cryptocurrency understanding to an entirely new level by giving yourself a visual depiction of how it works.

It is clear that cryptocurrencies and blockchain will have a successful future when paired up with the technology of virtual reality. As both of these technologies have grown, it was only a matter of time before they combined. Whether they will be used to increase education on the subject of Bitcoin, or are powering virtual reality worlds like Decentraland, cryptocurrencies and blockchain are here to stay.

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