Blockchain Will Help VR Powered Social Media Platform Sensorium

Blockchain is about to play a crucial role in virtual reality (VR) powered social media. As of recently, the social media platform Sensorium has joined the Global Blockchain Business Council, where blockchain will help the technology in a major way.

Sensorium has announced its membership with the GBBC which is a Swiss-based non-profit industry association for blockchain. Sensorium will participate in the upcoming virtual forum on May 28 held by GBBC, where the firm’s director of technology Alex Blagirev will discuss his predictions on how blockchain will help the virtual reality social media platform and change the way people interact online.

The blockchain news today also show a couple of statements from GBBC, which discuss the intersection between social media and virtual reality (VR) as well as the role that blockchain plays in this sector’s future.

As one representative at GBBC noted, the convergence of VR and social media is already starting to gain momentum, noting that major platforms such as Facebook “are providing users with new ways to share and experience content.”

“Within this context, blockchain technology will likely play an important role in the creation of digital assets and an online virtual economy. Furthermore, blockchain technology could be used to protect ownership and copyright, as well as create new models of advertising in virtual worlds, much as it is already doing in the real world.”

The COO of Sensorium also talked about how blockchain will help this major initiative, emphasizing the security benefits offered by the distributed ledger technology (DLT) and stating:

“Identity theft, fake accounts, etc. all will be to a large extent eliminated as human participants in the socially-virtual world will be required to verify their identity via the blockchain.”

As a GBBC member, Sensorium will take part in a range of GBBC activities that are aimed at “advancing adoption of blockchain technology and educating regulators, policymakers, and business leaders on the benefits of the technology.” The two entities first started working together at the GBBC’s flagship event – Blockchain Central Davos – where Sensorium participated.

“We closed out the evening with a special demo of Sensorium’s VR platform and a performance by GBBC Arts and Music Ambassador and Former Drummer for Guns N’ Roses, Matt Sorum,” added the GBBC spokesperson.