Welcome to the latest edition of Digital Bytes where we have a couple of articles requested by our readers so please do keep your suggestions coming in.
This week we have an analysis on the following topics:
How soon before the US$’s reign as the world reserve currency is over? - the US$ has been the world’s reserve currency for over 100 years, but how long will it be before we seen a new unit of exchange replacing it? Arguably, payment platforms have upgraded their infrastructure so they are able to process transactions using digital currencies - so will the US$ be replaced by some form of digital currency backed by China or a basket of global assets?
How Blockchain technology can help create decentralised alternative social media platforms - social media platforms are not spared from the potentially transformative effect of Blockchain technology, but arguably certain social media challenges need to be addressed. So, what problems have social media platforms been giving their users? Is there any way Blockchain technology can alleviate these problems? What challenges do decentralised social media platforms face going forward?
The importance of self-sovereignty for an open metaverse - a self-sovereign identity (SSI) and/or reputation has long been the objective of Web 3.0 and is one of the most important characteristics which needs addressing in order to create an open metaverse. Now that we are in the dawn of the metaverse, access to SSI is likely to be a defining characteristic of an open metaverse. If we have greater adoption of SSI, it will be a paradigm shift from today’s identity and data system - empowering users, and creators, to take their lives into their own hands.
The missing link between Web3 and real estate - Even though real estate tokenisation becomes an inevitable trend; the current market shows that it is still in its infancy. By leveraging blockchain tools, including smart contacts and tokens to empower real estate, startups begin to unleash the huge potential of this $326trillion market. We are already seeing the real estate sector innovating and embracing virtual property in the metaverse. Will this stimulate the next real estate boom in the Crypto Age?
Jonny Fry / James Tylee of Digital Bytes by Team Blockchain on Cyber.FM featuring Vivienne Su, co-founder of MetaEfi