Coinbase CEO Brian Armstrong has said that cryptocurrency has the potential to turn Virtual Reality into a full-time job.
Armstrong suggests that virtual spaces could create their own currencies or even make use of existing ones such as Bitcoin or Ethereum by integrating the means for users to spend crypto in the same way as they are currently using fiat.
Developers would see more time spent on such games, according to the Coinbase boss, taking it much further into the realms of Sci-fi by suggesting that players could use the virtual world to support themselves in the real world, cashing in their accrued gaming funds for “real” use, such as paying rent. He speculates:
“Perhaps we’ll see virtual bank buildings with pillars, virtual bank vaults that spin when you open them, and virtual tellers with glasses.” The exchange magnate, clearly a follower of the gaming and VR world added, “Ready Player One had a great visual of coins being collected in the game, and spilling out of characters when they were killed (leaving a big pile of loot on the ground).”
Clearly, Armstrong has seen the potential of turning VR ownership into the real thing via some of his own exchange-listed cryptocurrencies. But in reality, there’s still a long way to go – crossing the bridge from virtual into reality.
Armstrong appears to be in touch with the man on the street, if not through gaming and VR, then certainly in terms of what reality actually means for many of the world’s “have-nots” these days. This was shown by his recent personal $1 million giveaway through his charity project called GiveCrypto.
The project is a global enterprise which will give out cryptocurrency donations to worthy recipients, who will then be able to make personal choices in whether to keep their donations as cryptocurrency or exchange them for fiat. GiveCrypto wants to raise USD 10 million by the end of 2018 and grow to a fund of USD 1 billion over two years. Donations will hopefully come from wealthy donors who have amassed wealth through cryptocurrency, passing on their good fortunes to those in need of financial help. Suggested cryptocurrencies for donations are Bitcoin, Ripple, and Zcash.
Ripple’s co-founder Chris Larsen has already put in an undisclosed donation into the Armstrong charity hat. This may not be all that Ripple will be putting into Coinbase’s coffers if recent news that Coinbase plans to list XRP on its exchange becomes reality…. that’s not a virtual one by the way!
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