Wednesday, October 5

“Bitcoin and the metaverse are not separate, it’s all about your own financial freedom”


Key facts:
  • Pioneering cryptocurrency and Web 3.0 drive the new monetary system.

  • The tokenization of everything tangible is a sign of how the world is moving towards decentralization.

Bill Barhydt, CEO of the Abra cryptocurrency exchange and renowned bitcoiner, said today that “Bitcoin and the metaverse or virtual economies that are emerging in Web 3.0 are not based on different concepts, on the contrary, they are based on the same philosophy: decentralization and financial freedom”.

Barhydt, as rapporteur for the North American Bitcoin Conference gave his insight on the points of agreement that Bitcoin and the metaverses have. From your perspective, march in the opposite direction to centralization.

“Anything that goes in that direction is valuable, particularly at this time, when there is a constant and intense struggle for control of people’s money and the virtual economy that spreads over the Internet,” he said during his talk.

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The CEO of the Abra exchange is convinced that 2022 will be the year in which it occurs a mass movement regarding the decentralization of organizations and values, where Bitcoin and the metaverse play an important role.

“It’s going to sound crazy to you, but Bitcoin and the metaverse are the backbone that will help us bypass the global system in order to propel us into the next monetary system where we must create something much better, lifting a lot of people out of poverty. . It seems to me that we have finally found the route that will lead us to a new world.”

Bill Barhydt, CEO of cryptocurrency exchange Abra.

For Barhydt, a new world will emerge as more people adhere to the decentralization that Bitcoin offers.

“We can’t just wipe out all the trust that the world has in the traditional financial system, but we can see how we’ve moved towards decentralization and that’s really exciting to me. Today we are seeing how decentralized lending and insurance platforms are moving. I think we are going to see big movements even in mortgages in the DeFi (decentralized finance) metaverse.”

Bill Barhydt, CEO of cryptocurrency exchange Abra.

The executive believes that in a maximum of 15 years humanity will no longer be using traditional banks, but DeFi will take over the scene. He referred to metaverses as a virtual economy in which all kinds of decentralized finance services exist. In itself, it is Web 3.0, a term that is used to refer to the evolution of the use and interaction of people on the internet and where blockchains are increasingly playing a leading role.

Barhydt spoke about the evolution of the digitized world and its progress towards decentralization, where bitcoin plays a leading role. Source: North American Bitcoin Conference

The world is tokenized and now it belongs to you

Barhydt mentioned how non-fungible tokens (NFTs) are contributing to the digitization of items, products or services. For him this tokenization is a sign of how the world is moving towards decentralization.

“NFTs allow us to encapsulate rights digitally and that means we don’t need centralized courts of law to prove that something belongs to us, so it’s yours, it’s just yours and you’re free to sell whatever digital property you own. It’s very interesting to me that we finally have a way to capture the rights now, whether it’s tickets, contracts, deeds or basically a way to capture energy and we don’t have to trust anyone to prove that property belongs to us because it will be registered in one of the many networks that exist.

Bill Barhydt, CEO of cryptocurrency exchange Abra.

As a sign of the decentralized financial world that is already capturing people’s attention, Barhydt presented the proposal for the Blockchain Gaming Alliance, a global association that encourages the use of blockchains within the gaming industry.

In fact, the Abra platform has incorporated the play to earn model that many games like Axie Infinity have. With its utility token, Crypto Perx (CPRX), the exchange rewards its customers by recognizing their loyalty as they take advantage of proposed investment opportunities.

As we have previously reviewed in CriptoNoticias, while the world is getting rid of centralization, decentralized autonomous organizations (DAO) emerge as a way of governing and making entities work in the digital universe.



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