The limits of blockchain, for now

An interesting take on the use of blockchain in the mass consumer markets by Adam Frisby, CEO and lead developer of Sinespace, a Unity-based MMO and social VR platform: on VentureBeat he explains “why blockchain isn’t ready for primetime“.

“As it stands, blockchain is caught between three competing objectives: fast, low-cost, and decentralized. It is not yet possible to make one chain that achieves all three”, Frisby says. A post written by someone who has first-hand experience in dealing with payments in game environments.

Note that the Blockstack-project I posted about is not based entirely on the bitcoin blockchain, presumably for some of the reasons discussed by Frisby. I’m not sure how exactly they improve on the blockchain.

Blockchain for avatars

Even though I’m sceptical about the appeal of open-ended, user-created virtual worlds for a mainstream audience, I still follow people who are very active in that field because they tend to be highly creative out of the box thinkers. One of them is Philip Rosedale, the founding father of Linden Lab and Second Life, and these days busy creating a new world which takes full advantage of VR, High Fidelity.

In the post Metaverse Identity on the Blockchain he tackles the question of how we can prove our identities in a digital environment without revealing our real life identity:

As we begin to live and work in digital spaces, we must design an identity system that is safe, secure, and decentralized like the web. A combination of theblockchain and digital certificates seems like the best design.

Being a true Maker, Rosedale does not limit himself to a theoretical explanation, but will try the coming months to implement such a technology in High Fidelity. All this even fits into my ideas about Mixed Reality, as one could consider such a virtual implementation as a big rehearsal for ‘real world’ applications. Rosedale:

And of course, this sort of identity system might someday even work well for real-world things, like who can vote, or keeping track of who owns parcels of land. It seems likely that a distributed database like this, applied to identity information, could be a bigger value to people than the current applications which have been mostly for virtual currencies like Bitcoin.

Hat tip to Wagner James Au for discussing Rosedale’s article on the New World Notes.