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Web3 and Metaverse are not coming…


VR and metaverse are in vogue again. It is only “words” that are in vogue, but not much actuality. (This is just my personal opinion.) Meta’s (formerly Facebook Inc.) stock price decline due to its rapidly deteriorating performance speaks for itself.
In 2016 I partnered with GoogleParis to open VR Gallery in Tokyo, which was a financial success. However, we closed the studio after a year and a half because the headsets were too heavy, had cords attached, and were too depressing to be popularized by the general public. And even today, the headset is still slow to spread, with no future in sight. This means that not much progress has been made in six years.
Virtual currency and NFTs were also tackled in Estonia (Speedy Euro OÜ ) starting in 2019 and handled top-notch NFT art such as Damien Hirst’s “Currency” and did well economically, but are now inactive due to the lack of future potential of blockchain technology. The subsequent dilution of NFT value in conjunction with the decline of virtual currencies is eye-opening. I was able to successfully escape…
I have tried various experiments in the metaverse space based on blockchain technology, but the current PC specs are too slow, and I feel that there has been no progress since “Second Life,” which was once popular and then went out of business. I just can’t believe that the future of the Web (Web3) is here.
I know that there are many hardships involved before a certain great technology can flourish, and that it takes tremendous effort and time before that hard work pays off.
Four years before the Kindle was introduced in 2008, the company started its e-book business on Galapagos instead of smartphones and grew it into one of the top companies in the industry (Comidia Inc.). It was a nostalgic past when the 3.5-inch images of Galaga Kei could not express pages and were delivered in frame-by-frame mode.
We are also now very proud of the fact that we launched a charity website for the Great East Japan Earthquake using docomo billable before crowdfunding was available.
What I am trying to say is that, as a person who loves new things and has been challenging myself, I have my doubts about the Web3 trend because blockchain technology is too fragile. Looking at the market calmly, I see articles about the theft of virtual currencies every day, which are supposed to be strong, and the one and only NFT is being copied all the time (see the article below for details). (See the article below for more details).
The Web should go all the way to Web 100 at once. To do so, a new cryptography-based Internet “money” must be developed and disseminated. The current Internet uses a “credit currency” based on real credit. The easiest way to understand this is with “credit cards”. People appear to be shopping directly on the Internet, but the flow of money is not exchanging “cash” on the Internet at all. It is just that the seller checks the “credit” of the buyer and the credit company pays in advance. That “credit currency” is based on the credit company’s ledger. In other words, it is established by continuously filling in the purchaser’s social standing and past performance of promises.
On the other hand, “cash currency” has no ledger. You will never know who had the 10,000 yen you have yesterday and what it was used for. This “real currency” must be digitized to create a “digital currency. A “digital currency” based on a ledger-entry blockchain would take too long to settle. Furthermore, a “currency” that is exposed to everyone is too uncirculating and will not work in the Internet market, which is expected to see enormous traffic in the future.
Have you understood so far? Digital currency” must not be blockchain-based. The Internet will not have the same settlement power as cash unless there is a “digital currency” in circulation that does not require a third party’s approval or a ledger. The future of the Internet’s reserve currency is not bright unless it is designed as the ultimate “C to C” model using full encryption. This will be the basic infrastructure of “Web 100.
If the nation’s legal tender, which is currently losing a large share of the market to “credit currencies,” were to develop a “digital currency” similar to cash, it would be a major boost to national power. Now is the time for “BOJ 2.0.
◆ Notes
World’s first VR GALLERY opened! A New World of Art Seen Through Digital Eyes (2016)
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Damien Hirst confronts the ultimate choice between NFT art and real art
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Cryptocurrencies stolen in the largest theft ever in the history of “money”!
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High NFTs bought by celebrities: what are the current prices?
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Blockchain Collapse! Uri Nakamura Next Generation Digital Currency 1 presented by Speedy, Inc.
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Keitaro Takeda, Ryoko Kamishima, and 223 others
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