Why metaverses are becoming the new craze in the NFT space

Why metaverses are becoming the new craze in the NFT space

The growth of NFTs in the last year has been unprecedented, with new real-world applications appearing almost every minute it feels like. The response to, and transaction volume on NFTs in NFT marketplaces, has been nothing short of spectacular. NFTs have been integrated into many significant industries over the last two years, including sports, gaming, arts, and music.

NBA Topshot, the NFT marketplace for the US National Basketball Association (NBA), the world’s largest basketball league, is a striking one example.

NFTs have taken the world by storm for such a relatively new technology. Now many industry leaders in the digital space believe we may have finally found the missing piece to creating a fully functional metaverse, thanks to NFTs. But to comprehend NFT technology’s role in this concept of a functional metaverse, we must first better understand what NFTs are and their significance in a metaverse.

The Connection Between NFTs and the Metaverse

Clearly the development of a fully functional metaverse has the potential to fundamentally alter how people interact with the digital world. A collective virtual experience would reimagine the creative industry and open new doors for creators, gamers, and artists.

The metaverse would become a portal to digital experiences, potentially becoming its trillion-dollar industry. The possibilities with a metaverse are limitless, as evidenced by the gaming industry. Fortnite players entered the metaverse at last year’s virtual Travis Scott concert, which allowed 12 million people to experience a virtual concert all within a self-contained digital world.

In all this it’s worth remembering that Fortnite started off as a regular zombie game, but due to its popularity morphed into something now marked as part of the metaverse. And a lot of this was driven by player demand, as more and more people got involved in Fortnite Battle Royale, Epic the company behind Fortnite added social features such as costumes, voice chatting and dance parties.

For Epic it’s also a battle against the established tech giants, itself reflective of its court battles with Apple. Interviewed in The New York Times, Tim Sweeney, the chief executive of Epic, admitted that defining the metaverse was difficult, he said, but he knew what it was not: “The metaverse is not an App Store with a catalog of titles,” Mr. Sweeney said. “In the metaverse, you and your friends and your appearance and cosmetics can go from place to place and have different experiences while remaining connected to each other socially.” Could it be possible one day to have a tunnel from Roblox to Fortnite and other games, connecting them all in some sort of futuristic world? Mr. Sweeney said yes.

Matthew Ball, a venture capitalist who wrote a key article about the metaverse in early 2020, sees the metaverse not as a virtual world or a space, but rather “a sort of successor state to the mobile internet” – a framework for an extremely connected life. Indeed, despite the novelty factor of the ‘metaverse’ it’s a concept that, as he explains, has been decades in the making: “Since the late 1970s and early 1980s, many of those in the technology community have imagined a future state of, if not quasi-successor to, the Internet – called the ‘Metaverse’..it would revolutionize not just the digital world, but also much of the physical one, as well as all the services and platforms atop them, how they work, and what they sell.” And it’s that last point, the pivotal role of decentralized finance (DeFi) in the metaverse economy, that is most intriguing.

Because despite the frictionless use of crypto, with low fees and decentralized P2P structures, the reality is that the commercial first movers in the metaverse space from gaming have their own proprietary currencies. What makes DeFi so attractive to the metaverse community is that it can be automated, without any centralized intervention. It also means that DeFi has long term attractions, allowing game developers and players to invest time and money knowing the underlying blockchain platform won’t change without community consensus. “Today, only a tiny fraction of online users and gamers even have a crypto wallet, and almost no brands and games issue NFTs. But irrespective of multi-month dips in the blockchain/crypto/NFT economy, we see more of these groups embrace blockchain-based experiences each month. This produces a virtual cycle that drives more users to register a wallet, mint an NFT, or integrate crypto assets”, concludes Ball. The future of metaverse as an interconnected world is bound up with DeFi it seems.

Cryptocurrencies have already been successfully integrated recently into virtual worlds created by companies such as Decentraland and Sandbox. For example, users in Decentraland can purchase virtual real estate such as theme parks and monetize them using cryptocurrencies. Coca Cola plans to launch its own NFTs on the platform, including a ‘wearable’ jacket for avatars in the Decentraland metaverse. “We are excited to share our first NFTs with the metaverse where new friendships are being forged in new ways in new worlds,” said a Coca Cola’s Selman Careaga, President, Global Coca-Cola Trademark. While the involvement of global consumer brands rather than video gaming is not universally welcomed in the metaverse community, it’s also testament to its rapid growth, supported by NFTs, supported by wider societal trends from the expansion of gaming to the accelerated shift to online work and play driven by the COVID-19 pandemic.

Closing Thoughts

The development of the metaverse concept may still be in its early stages, but the example of Facebook’s backing shows it’s here to stay, as people’s activities and technologies converge online. To quote Zuckerberg: “I think that this is a persistent, synchronous environment where we can be together, which I think is probably going to resemble some kind of a hybrid between the social platforms that we see today, but an environment where you’re embodied in it.”

Clearly DeFi needs to play a key role in the development of the metaverse, to avoid two versions emerging: one dominated by the likes of Facebook, and the other built on open interoperable platforms. Together with NFTs the role of DeFi is to provide the essential infrastructure for the vision of an open metaverse which liberates us to explore our online identities in both work and play. While we do not yet know what it will look like or say when a metaverse is finally created, the key role of cryptocurrencies and NFTs to make it a reality is already apparent. With the combined involvement of tech giants, the advancement of cryptocurrencies, and the NFT sector, it appears to be a matter of when, not if, the metaverse will become mainstream.

“I am hoping to see metaverseFI going mainstream.” #anndylian

 

 

 

 

Author: Anndy Lian

Anndy Lian is a business strategist with over 15 years of experience in Asia. Anndy has worked in various industries for local, international, and publicly traded companies. His recent foray into the blockchain scene has seen him manage some of Asia’s most prominent blockchain firms. He believes that blockchain will transform traditional finance. He is currently Chairman of Big One Exchange and Chief Digital Advisor at the Mongolian Productivity Organisation.

 

Original Source: https://www.ibtimes.sg/anndy-lians-opinionwhy-metaverses-are-becoming-new-craze-nft-space-59780

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author “Blockchain Revolution 2030”. Currently, he is appointed as Chairman, Asia for BigONE Exchange and Chief Digital Advisor, Mongolia Productivity Organisation. Anndy is part of the Gyeongsangbuk-do Blockchain Special Committee, Government of Republic Korea, together with industry experts such as Brock Pierce. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region and was previously the Advisory Board Member of Hyundai DAC Technology.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

You can read more about Anndy’s work at www.anndy.com

j j j

Anndy Lian: Why do you need to hire a Chief Bitcoin Officer?

Anndy Lian: Why do you need to hire a Chief Bitcoin Officer?

Dataquest India, India’s largest IT publication has published my piece on “Why do you need to hire a Chief Bitcoin Officer? in their June 2021 edition. In this article, I have talked about the importance of having a CBO and how it will help moving forward. 

 

Why do you need to hire a Chief Bitcoin Officer?

Bitcoin has drawn many naysayers since it hits us years ago. Some called it an online scam, while others call it fake money. This coin was created in January 2009 by the mysterious Satoshi Nakamoto.

The whitepaper illustrates a network that allows lower transaction fees compared to the traditional methods and unlike central bank-backed currencies, bitcoin is operated in a decentralized environment. The value of one bitcoin was $0 when it was first introduced in 2009 and when bitcoin first started trading from around $0.0008 to $0.08 per coin in July 2010. Today, it is more than $57,000.

Bitcoin has gone past the getting-to-know stage and right now I dare to say that more people know about bitcoin. It is often described as a cryptocurrency, a virtual currency, digital currency or a store of value. Depending on where you are located, you will see shops accepting cryptocurrency. With online payment service giant, PayPal allowing its customers to buy and sell bitcoin, this will truly open up to more usage.

PayPal is not the only publicly-traded company that is into the king of cryptocurrencies. Many other publicly traded firms have adopted bitcoin as a form of reserve asset and hold direct control over their bitcoin funds.

Top 6 Public Companies with the Biggest Bitcoin Portfolios

1) MicroStrategy Inc 91.579
2) Tesla, Inc 43,200
3) Square Inc 8,027
4) Marathon Digital Holdings 5,263
5) Coinbase Global, Inc 4,487
6) Galaxy Digital Holdings 4,000

Total: $9.05 trillion (BTC: $57,810)

Top 3 Private Companies with the Biggest Bitcoin Portfolios

1) MTGOX K.K 141,686
2) Block.one 140,000
The Tezos Foundation 24,808

Total: $17.72 trillion (BTC: $57,810)

Top 3 ETF like Funds with the Biggest Bitcoin Portfolios

1) Greyscale Bitcoin Trust 654,885
2) CoinShares/ XBT Provider 69,730
3) Ruffer Investment Company 45,000

Market cap $44.49 trillion (BTC: $57,810)

(Data contained from Bitcoin Treasuries.)

The list above excludes the recent banks such as Morgan Stanley and Goldman Sachs who are offering bitcoin to their wealth management clients. These companies together manage about trillions of dollars too. I have also excluded governments or government-linked entities that are holding bitcoin. For example, it is reported that Ukrainian officials are holding over $2.6 billion in bitcoin.

As you can see, the bigger corporations are putting bitcoins to their balance sheets. They need subject matter experts to advise them on how they should manage their bitcoin holdings. This is the reason why I have emphasized that companies should start to look at hiring their very own Chief Bitcoin Officer (CBO).

This role should be on the same level as the Chief Financial Officer but the CBO will look at the cryptocurrency side of things. It is also good that this key appointment holder has relevant experience dealing with the government on crypto regulations and understand finance or fund management. Handling bitcoin and other cryptocurrencies are not an easy task. You will need dedicated resources and expertise.

Regulatory risks
There are still isn’t a blanket approach for bitcoin for all governments. Though governments understand bitcoin, they do not embrace it all. Bitcoin is still seen as the rival to fiat currency. Creating Central Bank Digital Currencies or CBDC is one way to track the flow of money and possibly the flow of bitcoin.

For example, for U.S. taxpayers, it is known that anyone with more than $10,000 digital currency aboard needs to fill out the Report of Foreign Bank and Financial Accounts (FBAR). This rule could have changed and the everchanging rules may be a legal concern for many. When governments start to regulate, ban or restrict bitcoin, CBO will be the first to know and act accordingly.

Security risks
CBO needs to look at security risks. Hackers often target bitcoin wallets and exchanges. As we all know, bitcoin transactions are permanent and irreversible, there are no third party to retrieve your loss coins. Putting your bitcoin with the centralized exchanges are the closest to how you keep your money in a bank but bear in mind that there are cases where exchanges got hacked and millions of dollars were wiped out overnight.

Cryptocurrency exchanges are constantly improving their security measures but this does not mean that it is 100% safe putting your coins in one single basket. There are other instances where the founder of the exchange got arrested by the police and withdrawals were stopped for weeks. So, if your company has a big holding of bitcoin, it is important to place them in the right wallets catered to the investment strategies and with the right set of security features.

Market risks
Bitcoin’s price can fluctuate a few thousand dollars each day in today’s context. It is volatile. The unexpected changes in the market sentiments can lead to sharp and sudden price movements. It is also subjected to the high volume of buying and selling on exchanges and movements by bitcoin whales. Bitcoin has also fallen more than 80% in 2014 in a single day.

CBO needs to be ready for such fluctuations. He or she has to look at the latest market news, who are the latest institutional investors, at what price they came in at, when is the next halving, is there a new fork etc. Take hard forking for instance. When it occurs, the market may experience sizable price volatility around this event and we may see suspended trading or ununiformed prices or price differences in various exchanges.

If you are into bitcoin and your company bought a sizable amount of bitcoin, these are some of the things you need to take note of. The job of a CBO is not easy and it is a specialized role.

When I posted this on Twitter, I have people coming to me asking if this is applicable for SMEs? My reply to them is that if your SME is forward-looking, you should also start to look at this as well. You may not be hiring a Chief Bitcoin Officer, because of it price. So maybe a Chief Litecoin Officer or a Chief Crypto Officer.

So hire your Chief Bitcoin Officer today.

 

Author: Anndy Lian

You can download the magazine at this link. 

Or at https://www.dqindia.com/why-do-you-need-to-hire-a-chief-bitcoin-officer/

 

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author “Blockchain Revolution 2030”. Currently, he is appointed as Chairman, Asia for BigONE Exchange and Chief Digital Advisor, Mongolia Productivity Organisation. Anndy is part of the Gyeongsangbuk-do Blockchain Special Committee, Government of Republic Korea, together with industry experts such as Brock Pierce. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region and was previously the Advisory Board Member of Hyundai DAC Technology.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

You can read more about Anndy’s work at www.anndy.com

j j j

Anndy Lian Spoke with CNA Money Mind Ep 4: What are NFTs and why are they trending?

Anndy Lian Spoke with CNA Money Mind  Ep 4: What are NFTs and why are they trending?

NFTs, or non-fungible tokens are a hot trend in the worlds of tech, finance and art. So why are people paying millions of dollars for these digital assets? Are they an emerging asset class, or the latest bubble in the tech world? And what do investors need to know, if they want to put their money into NFTs?

Money Mind’s Chubby Jayaram Singh speaks to Kelvin Goh, head of wealth advisory at OCBC Bank, and Anndy Lian, blockchain expert and an advisor board member of Hyundai DAC.

Episode 4 covers the following:

  • What is NFT?
  • How do we value NFT? Why would anyone pay so much for these digital pieces of media?
  • How do we going about buying? Can we use cash?
  • Do you think NFT be considered as an alternative asset class?
  • What does the growth of the NFT market meant for investors in Asia or is this just a cryptocurrency trend?

Quotes from the speakers:

“In terms of the potentials for NFT, I think it is close to limitless.” Kelvin Goh said.

“Blockchain technology is adding an additional layer of security & trust to your artwork.” Anndy Lian shared too.

To listen to the full podcast, you can visit https://www.channelnewsasia.com/news/podcasts/money-mind/ep-4-what-are-nfts-and-why-are-they-trending-14606876 or you can catch it on Youtube via this link.

About CNA:
CNA was established in March 1999 by Mediacorp, and is an English language Asian news network. Positioned to “Understand Asia”, it reports on global developments with Asian perspectives. Based in Singapore, it has correspondents in major Asian cities and key Western ones, including New York, Washington D.C., London and Brussels. CNA brings its audience not only the latest news but also diverse content such as business, lifestyle, human stories, current affairs and documentary programming.

CNA is a transmedia company, where users can get content online, on TV and radio and via smart devices. It is also available on social and messaging services, such as Facebook, Twitter, Youtube, Linkedin, and Telegram. CNA has been recognised as Channel of the Year by the Association for International Broadcasting (AIB), the global trade association for broadcast journalism. CNA TV is now viewed in 29 territories across Asia with its satellite footprint stretching across Asia, the Middle East and Australia.

For more information, please visit CNA’s website at cna.asia.

About Money Mind:
Money Mind tells you how to make the most of your money with tips for investors, business ideas for businessmen and analysis of the economy, companies, markets, financial products and trends.

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author “Blockchain Revolution 2030”. Currently, he is appointed as Chairman, Asia for BigONE Exchange and Chief Digital Advisor, Mongolia Productivity Organisation. Anndy is part of the Gyeongsangbuk-do Blockchain Special Committee, Government of Republic Korea, together with industry experts such as Brock Pierce. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region and was previously the Advisory Board Member of Hyundai DAC Technology.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

You can read more about Anndy’s work at www.anndy.com

j j j

Anndy Lian Spoke at Global Roundtable Review: Short Selling: What is it? Why is it Risky and How this will affect Crypto?

Anndy Lian Spoke at Global Roundtable Review: Short Selling: What is it? Why is it Risky and How this will affect Crypto?

Anndy Lian, Advisory Board Member to Hyundai DAC participated in event “Global Roundtable Review” organised by Block Review. Anndy Lian talked about the recent short selling incident for Gamestop and investors worked through social media to gain an advantage.

The following is a summary of Anndy’s speech:

An overview of the Gamestop saga: What is a short squeeze?

The last week of events is unprecedented in my opinion.
When you buy a stock, you own it and the price goes up due to the company’s performance and all. But when you short it, you are basically betting on the stock to do badly. Some hedge funds are shorting a couple of stocks. They shorted more than a 100%.

The reddit group used publicly available information, went in to buy the stocks and driving the price up, they created a short squeeze. The group drove up the price of the stock, leading to the hedge fund paying more than what they had sold it for before returning the borrowed shares, at the cost of professional traders.

That led to stopping Robinhood app that is targeted at mass retail investors to buy the stock. Forcing a crash and despite all these, the stock went back up. The people are winning.

If Gamestop new shareholders were to hold them long enough, the hedge funds will go out of business. Melvin Capital lost 53% of their investment.
Elon Musk and many other celebrities are also tweeting asking all to buy and hold. This movement has become organic.

 

What should investors know before shorting stocks?

Investors need to know what kind of risk they are getting themselves in. If you’ve ever lost money on a stock, you’ve probably wondered if there’s a way to make money when stocks fall. There is, and it’s called short selling. Even though it seems to be the perfect strategy for capitalizing on declining stock prices, it comes with even more risk than buying stocks the traditional way. Investing in stocks in the usual way is risky enough. Short selling should be left to very experienced investors, with large portfolios that can easily absorb sudden and unexpected losses.

 

How risky is it to be following leads on forums (like reddit)

If you are in investment groups or on social media, there are many groups soliciting to jab individual stocks. This is not something new. Social influencers are also doing this, in the stocks and crypto market. I would say it is very dangerous to follow blindly to the “financial advice” on social media as many times the expected outcomes are not what you want. This time this Reddit group managed to make it, but what about the hundreds or even thousands of times where retailor investors got hurt.

 

In the Gamestop saga, was there institutional money (the other camp) pushing the squeeze? Will blockchain technology help?

I hope not, else we will be losing faith in this so call free, open market in USA. I would believe not all hedge funds are bad. There are a small handful of bad actors right now. Nasdaq CEO is calling regulators to come in and account for what has been done.

Regulators should get to the bottom of this, how is it possible for them to short more than 100% of the stocks. The system must be upgraded. In order to have a fair market, this is also a perfect time to look at blockchain technology, this the same technology that is backing up Bitcoin and many others. Blockchain technology will improve transparency and efficient too.

The reddit group – called SatoshiStreetBets – has driven up price of Doge, similar to how WallStreetBets did for GameStop. DOGE started rallying after a Twitter user calling himself the chairman of WallStreetBets (though who is not affiliated with the subreddit) asked followers about the cryptocurrency.

“What you are seeing on DOGE is not a short squeeze. It is the effects of social media gathering and working together. You cannot short sell or squeeze DOGE. It’s only rising because of speculation.”

This DOGE movement is used to demonstrate how users can manipulate prices if they move together. An individual cannot drive the prices but a group or a community of people who worked on the same goal can do that.

 

Can a similar short squeeze situation happen in Singapore?

Short-selling is not banned in Singapore, but SGX already requires investors to mark sell orders as “long” or “short” and publishes both daily and weekly reports on short-selling activity. “Abusive” short-selling – for example, with the spread of false rumours – could also be prosecuted as market manipulation or deception under the Securities and Futures Act.
Such policies will improve transparency on short-selling activities in the securities market and enable investors to make more informed trading decisions. With the added on help with technology such as blockchain, it reduces the chance of us being in this situation.

But then again, “Anything can happen.” Maybe less likely in Singapore.

 

Video:

https://youtu.be/KeoTRTKrwVA

 

About Anndy Lian:

www.anndy.com/about

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author “Blockchain Revolution 2030”. Currently, he is appointed as Chairman, Asia for BigONE Exchange and Chief Digital Advisor, Mongolia Productivity Organisation. Anndy is part of the Gyeongsangbuk-do Blockchain Special Committee, Government of Republic Korea, together with industry experts such as Brock Pierce. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region and was previously the Advisory Board Member of Hyundai DAC Technology.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

You can read more about Anndy’s work at www.anndy.com

j j j

The Godfather of Blockchain Alexander Shulgin on ‘Why he is Bullish on Blockchain, Gamification & Gaimin.io’

The Godfather of Blockchain Alexander Shulgin on ‘Why he is Bullish on Blockchain, Gamification & Gaimin.io’


Blockcast.cc: My name is Jenny Zheng, co-founder of Blockcast.cc. This week, we have the honour to invite Alexander Shulgin for our interview. He is a true visionary and have a good track record in venture capital. In order to facilitate this interview better, we have invited Anndy Lian, a futurist and book author of Blockchain Revolution 2030 to be here.

Anndy: Hi Alexander, let me say that it is a privilege for me to talk with you.

AS: It is a privilege for me also.

Anndy Lian: Thank you. Well, to begin with, many people say you are a visionary, and it is often stated that you have more than 15 years of investment and venture capital experience.

You are also often referred to as “a unique Russian composer who successfully combines creative work with business”. I believe that you currently manage GRUPPA KOMPANIY FAMILIA, which specializes in investment and venture capital in blockchain, media, publishing, and entertainment sectors. You are a founder of a worldwide consulting group, The 5 Continent Consulting Group specializing in the IT-sector, biotechnologies, digital healthcare and financial management and amongst other ventures you also founded Rasia Capital – an investment boutique focusing on Asia. I hear that you also personally invest in Blockchain infrastructure, esports and Mixed Reality.

Would you say that is a good summary of what keeps you busy at the moment?

AS: It is a very good summary Anndy, but it is not really enough, I have a lot of other activities that keep me busy. I still have more funds and of course you are right that I personally invest a lot in blockchain, in blockchain infrastructure, because I see this technology and it has a very strong and optimistic future.

Anndy: I agree with you that blockchain technology has a very bright future. That is the reason why I started advising governments on this technology. It has been fun and fruitful for me. Well since we are connected through the company Gaimin.io and Gaimin are focused on the Blockchain and the gaming industry, they must have sounded like a good fit when you first met them?

AS: Yes, very good. A perfect fit. My background is entertainment, and gaming has the largest growth in this sector. Gaming will be one of the main markets in the entertainment sector. They are like a bird’s wings, each complementing the other: Entertainment and the Blockchain. There is interdependence between them. When I met Gaimin, I thought that what we are doing is perfect synergy. And that is the reason why I have agreed to be Gaimin’s advisor.

Anndy: I did hear that the Gaimin team met you for the first time by flying out to Hong Kong in May last year and that your meeting continued on to the famous Employees Only club. What was your first impression of the guys?

AS: Time flies! It seems like I met the team not so long time ago but it is almost 18 months ago. It was a big pleasure to meet the guys, to see their young sparkling eyes, very passionate and passionate over the ideas. I felt like I had a rock and roll time.

Anndy: And so, you’ve known them for well over a year now. You’ve been watching them obviously and how they have developed, what has made you continue working with them compared to many projects that have, I am sure, been introduced to you?

AS: It’s a very good question, because when we met it was a very good time for decentralized based projects and then after the May saw a kind of crypto-winter and many of the projects, many of the teams were very disappointed, they were in despair, depressed and they were lost. Whereas this team were like a British soccer club start going faster, start going harder, they are moving through this crypto-winter, going through this, moving forward and they are brave, they are brave to go ahead, I like it, I like it. It doesn’t matter the age of the founders, 15 years old or 50 years old or 25. They must have the courage to see things through: a good finish is based on a good start. I feel that they have the ‘cojones’ for the fight.

Anndy: So how do you see this attitude will have an impact on the gaming world?

AS: It’s good because the gaming world, the gaming community is huge. Both professional gaming, and amateur gaming, the people who just have a passion for gaming, the gaming industry is growing. In the near future, I believe that everyone will somehow be involved in gaming and gamification of everything, so you can play a game and become part of the decentralized net and your computer and your gadget will become a part of this mesh, of this network. What is blockchain for me? For me it is the one and only infrastructure in the world that was built by us, by you by me by Gaimin, by everyone who is somehow involved, it’s built by us all. The infrastructure of blockchain is many times larger than Google, than Amazon, so this infrastructure is not built by governments, not by big transnational companies, it is built by us, simple humans and to be a part of the infrastructure built by humans and to be a part of this, gamers will be a big part of this of course.

Anndy: You are quoted in a recent interview as saying “Decentralized flow of data will be the next fuel to push lifestyle and industry to the next level.” What does that mean for the demands on processing power?

AS: The demand on processing power will be huge. I was just a keynote speaker in Riyadh, in Saudi at an investment forum with key global speakers, and the chairman of Samsung gave a slide presentation on how big the need for computing power would be over the next 15 years, it will be dramatic, simply dramatic. Few people in the world understand the future demand for computing power and electricity. A few months ago, I was speaking with Claudia Nemat, a member of the Deutsche Telekom Executive Board in Europe. We spoke about the European Union and our discussion centred around the fact that they have to understand how much requirement there will be for computing power and the demand there will be throughout Europe from the digital market. It’s a huge (level of) demand, let’s say 100 times more than now. I asked her where the EU will find the energy for this and she didn’t answer …… probably she was confused because it is a difficult question for the European Union. Because the demand for energy is huge, especially for green energy and there needs to be a solution. One of the solutions which Gaimin can offer to society is using passive gaming machines. Of course it’s not a total solution. Maybe it’s not enough for the whole industry but every single 1,000 of 1% will still matter. Every single penny is a part of the pound.

Anndy: How will the security of this data impact the requirements of companies in compliance and regulatory and will that be the same all over the world or be easier in some jurisdictions?

AS: Security of data is a big thing that is hype that people talk about but if people stop with ‘the talk’ and look at the blockchain more professionally they will see the millions of gadgets, the internet of things, it is unhackable, the blockchain infrastructure is unhackable, so all the data will be safe. You can also set your data settings. For me, I’m fine with my data, I have nothing to hide, I have nothing to keep a secret, ok maybe the passwords to my wallet as yet, but all my personal data, I’m fine with it. I’m open. Marshall McLuhan, a well-known Canadian philosopher said that with the global internet, we are like one global village. So it’s like ancient time in the village where we are all part of one big family, nothing to hide, no need to keep a secret. The big noise about data, well let’s look to the young generation who are the digital generation and even more so the generation after that, They can’t understand what data is private. They are open, they don’t have anything to hide. This is the open society.

Anndy: Because they know, the young people know that all the information is out there, so there is no need to hide it?

AS: Yes, and this is a healthy society. An open society, nothing to hide, a trusting society and technology with the blockchain helps make this more stable, this mood of the new generation. This decentralized generation where it will be possible to keep all this data private as much as anyone reasonable wants.

Anndy: Focusing back on energy, how does the need for clean, green energy impact on the all-embracing blockchain technology and can blockchain be de-leveraged from ecological issues?

AS: Of course. Of course! Blockchain will help a lot. Currently, there is some “noise” where a few people blame the blockchain miners. Yes, for example there are still some Chinese miners, or miners from Mongolia, even for example Kazakhstan using energy from coal, especially poor quality coal which makes a lot of pollution while burning. However, search out Google or Apple and look at how they are addressing this. Apple only a couple of months ago turned completely to green energy. Before it was using many different sources of energy. Google as I read try to be 100% green. Many technology companies do not use green energy but with the blockchain we are introducing more and more green energy, in fact all my companies, especially those that are mining are using hydra energy and the blockchain technology companies are moving towards renewable energy so that no extra energy is used and no energy is wasted and even all the heat generated or energy created is reused.

Anndy: Gaming and games has been a world very separated from the mainstream for the most part, to date, what changes can you foresee in your crystal ball?

AS: Ah yes, you are talking about gamification, correct? Yes, gamification will be everywhere. If you turn to the New Testament, Jesus told us that we have to “become like a child” ie be the child, to be like a child, what is the child, look for the child. Until they are 7 years old, they just play the game. It is so beautiful to be a child, to play the game. This perfect gift which is your life. My life is a gift, of course and I understand this and I value this gift of life. To be like a child to play the game. With the gamification of everything. To make education like a game because that is how children learn, they learn through games. Learning from stories and tales since tales are part of the game. Using your imagination is a game. To begin to imagine begins the game. In the first 6 days, when the creator created our universe, it was all part of the game. To be a creator, you have to have and use imagination and imagination is a part of gamification. Gamification is very important. We need to focus on education, health and entertainment especially with this next industrial revolution occurring. This next stage of evolution will give to us a more free life. We don’t need to survive to work 24/7, like they did 100 years ago, 200 years ago. 300 years ago people worked 7 days a week from sunrise to sunset, they had to work to survive. They had to find food, to source heat to survive and the last industrial revolution gave the people 5 working days in a week and 8 hours per day. This latest industrial revolution will introduce to 80% of the population, the concept that they don’t have to work, they can have a universal income, or any other passive income. Perhaps they play a game and by playing a game they produce data, providing them with bonuses, providing them with perhaps assets that they can exchange for other assets which they don’t need money. This typology will allow us to return to the barter style of life like an old, ancient village, which is perfect. You don’t need a 3rd party like money.

Anndy: It’s amazing what you are saying. The world becomes a global village and returns to bartering in a way made possible through gamification.

AS: Yes, people will be playing the game because playing the game will be the perfect time to produce the new oil, which will be data. The data, 85% of all global data which will enable smart cities, smart technology, decentralized energy, everything ….. 85% or more will come from entertainment. Because entertainment and games produce emotion. Emotion, this is the richest of all data, the most valuable data because all other data is unemotional data. We don’t need unemotional data. Data from the drones we don’t need, drones that fly from A to B, from B to C, we already know it, it’s pre-programmed. Any unemotional data such as from bank payments, we don’t need. It’s simply a payment. I pay for my electricity, I pay my taxes, it’s not emotional. Where do the largest emotions come from? Films, music, games! When you play games you experience many emotions; you win, you lose, lots of emotions. This is the most valuable data, the new oil!

Anndy: Fascinating. We would love to know more but time is short, so perhaps more on another occasion. To conclude with a couple of final questions, can you tell us a little bit about your involvement in the Bitcoin Association?

AS: I’m a founding partner of Bitcoin Association. It was built to propose to enterprise and to business the solutions which they need and I’m happy to be a part of the Bitcoin Association to look after entertainment and media, sport, these sectors.

Anndy: If you were making investments for your kids, or loved ones in the tech’ sector what kind of businesses and niches would you be focusing on?

AS: HappyTech. HappyTech, HappyTech, HappyTech. Any technology that makes you happy.

Anndy: I’ve never heard of that, technology that makes you happy.

AS: Well then your media will be the first to tell the news about this sector. Not only gaming and entertainment. I gave a TED talk on HappyTech 2 years ago in Hong Kong.

Anndy: Are you doing this for the love of it, or for the money?

AS: So I told you a little bit earlier, that I don’t believe in money. Soon, it will be the barter system, a better way to have a happy life. What does every parent want for their children? They want them to be happy. Not to be an economist, not to be vice chairman of the bank. When the baby is born, the parents say I wish for them to be happy. It doesn’t matter where you are, with whom you are, just to be happy. So happiness is the main thing in life. To live your life happy to reach the end of your life and to say I lived a happy life. That’s what I am doing it for.

Blockcast.cc: Hi, Alexander, with all the things that you are doing, do you have any spare time available and if so, do you have a favourite pastime or any hobbies?

AS: Jenny, I am happy that all my life what I am doing is my work. My work is my hobby, I don’t work, I live my life 24/7. I’ve been very lucky that all my life has not felt like work. It has never been that ‘I must do’, or ‘I have to do’. All my life, every single minute my work has been my life, my life has been my work and I’m very happy about that.

Blockcast.cc: To round up this interview, would you like to share a quote with our audience that has inspired you?

AS: I live with one quote that I love:

“IT WASN’T RAINING WHEN NOAH BUILT THE ARK.”

It inspires me, it motivates me to think what will happen next when there is no rain, maybe there will be rain. You need to see your future one step ahead, or ten steps ahead or 100 steps ahead.

Blockcast: Thank you for your time Alexander! It has been fascinating and much appreciated. We hope to be able to get together again in the near future, thank you once again! Thank you Anndy for facilitating too.

 

Media Contact:

Company: Blockcast.cc
Media Contact: Jenny Zheng
Title: Editor
Contact Number: +65 9883 2707
Country: South Korea

Original Source:

https://blockcast.cc/interviews/the-godfather-of-blockchain-alexander-shulgin-on-why-he-is-bullish-on-gaimin-io/

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author “Blockchain Revolution 2030”. Currently, he is appointed as Chairman, Asia for BigONE Exchange and Chief Digital Advisor, Mongolia Productivity Organisation. Anndy is part of the Gyeongsangbuk-do Blockchain Special Committee, Government of Republic Korea, together with industry experts such as Brock Pierce. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region and was previously the Advisory Board Member of Hyundai DAC Technology.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

You can read more about Anndy’s work at www.anndy.com

j j j