Wednesday, December 8

Cardano CEO trusts the Metaverse’s capabilities against cryptocurrencies


On the Thinking Crypto podcast broadcast, Charles Hoskinson, CEO of Cardano (ADA), spoke about his views regarding the development of the Metaverse and digital assets. He showed his perspective on what he considers suitable for the new industry application.

It took into account a connection scenario between real life and the Metaverse. This, to achieve technological advantages that expand the possibilities of the crypto community.

The expansion of the digital world

Given the presence of more digital assets, a scenario is presented where the Metaverse could perform its functions with greater user interaction. In this sense, Hoskinson’s position reflects his support for the virtual world.

Regarding the incidence of cryptocurrencies, the CEO of Cardano has been in favor of the ecosystem. He pointed to the disposition that large companies have to fully enter this industry.

What’s more, speak on how the market is relating to this sector. This, at the time that these companies present to the public their devices that link to the Metaverse. Such is the case with Apple, who plans to create its own augmented reality environment.

Influence of NFTs

Apart from the fundamental structure of the Metaverse itself, digital assets bring some relevance to the use of the new ecosystem. Although the NFTs have allowed more users to be interested in the commercial possibilities that the Metaverse brings, part of the market doubts its application.

However, the CEO of Cardano reiterated his support for the growth of this industry. Non-fungible tokens and other assets would be included as part of the system. He agreed with the interpretation of these tokens as individual security identifiers, representing real life assets.

He said that in the new platforms there should be a kind of “control” that gives “logic” to the use of NFTs. This, while the interactions are connected to a database.

Relationship of the Metaverse and the real world

Charles Hoskinson believes in a harmonized conformation between the functions of digital assets and reality. In this way, the diversity that the expansion of the digital world would offer would be complemented by the fiscal control system.

Although the CEO of Cardano repeatedly approves of the new logistics, there is a part of the community that is not in favor. “You need cryptocurrencies to put a trust model and a scarcity model, since in some way the digital is controlled and the physical is digitized,” he added.

I have seen in this Metaverse a set of qualities that would bring more development capabilities for users. Using the system would open the doors for participants to navigate other business sectors beyond video games, for example. “You can superimpose digital attributes on the physical world, for example, when you look at a building, like a restaurant, it shows you in your augmented reality glasses what time it opens and what time it closes,” he said.



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