Virtual reality is a flying car which means that it seems to be real yet can not be true in the near future.
Michael Gallagher in 2016 had correctly predicted the future of the market worth by 2020. The net market worth he predicted was $150 billion by 2020 yet some studies try to prove that it has not yet reached 10% of the estimate.
A lot of venture capital has been injected actively into the startups of the Virtual Realities. But the startups have declined as the hype around virtual reality followed the old path. The value that had reached $857 million in 2016, declined to $280 in 2018. While the blockchain suffered a drop in investment by 40% in China from 2018-2019.
The blockchain factor in Weed Profit System affected the bitcoin trading majorly. Many tried to explain that blockchain failed to live up to the expectations of inflations.
Blockchain Vs Virtual Reality
Blockchain technology and virtual reality go parallelly, but the cryptocurrency regulation across the world is well developed. The regulation of cryptocurrencies has been enforced well so that the speculation of the retailers become less compulsory. Surprising returns are more significant and eye-catching and also countable. This has been very attractive for the past three years.
According to some crypto, industries are “over-estimated” and “over-financialized” which is used to regulate, drugs, terrorism, and laundering. Some original ideas that could predate retail speculation such as a “decentralized society” and sovereignty in finance become a secondary concern many new crypto sphere players.
Many blockchain startups have become a threat to a wide range of industries and also to the governments. Whereas bitcoin is a straight threat to the national traditional currency sovereignty. But the Libra currency system that has been proposed by Facebook takes the threat a step more forward by making it semi central with global payment methodology. This undermines the case of the United States as a de facto world currency.
But the good thing is that there is a world that exists where blockchain and cryptocurrency can survive without any limitation. Some have argued against it and said that the virtual world does not allow the established players to play with freedom.
“Internet of Value” Overpowers “Internet of Information”
Blockchain promises to create digital evacuation, which will reflect the real-world finance. The real-world is difficult, nothing comes for free unlike the cryptocurrencies in the virtual world. With the increase in the use of the internet, information are easily available whereas personal data are traded among digital platforms like Facebook and Google.
But by abiding by the regulations of blockchain which have helped us to evolve into an internet of value from an internet of information. The most interesting factor about blockchain and cryptocurrency is that they hold a mere value even after being a part of the virtual world. The data in the form of bitcoins or cryptocurrency holds some economic value which limits the supply to every participant of the same field. By the simple demand and supply law, we know that when the supply is less and the demand is high automatically things become more valuable.
Many have double thoughts in mind regarding the crypto trade but some pro-crypto players suggest it is similar to the real world. They say that if one is great at earning money in the real world, he/she can also earn well in the virtual world. But the twist lies here, they also say that you are good at making great houses or assets in the virtual world then you will be able to sell them easily to the people of the real world.