What is The Metaverse? With Arie Trouw, co-founder of XYO and CEO of XY Labs

So let’s get started! First, tell us a little about yourself, such as name, profession, and personal interests.

My name is Arie Trouw and I am a co-founder of XYO, the world’s first crypto-supported geospatial blockchain oracle network. I am also currently the CEO and Chairman of the Board of XY Labs, Inc.

I started using third grade computers around 1979, which led to my career in software engineering. I am fortunate to be a serial entrepreneur and have had several successful exits, giving me the flexibility to follow my passions. One of my biggest interests is understanding the relationship between data and the physical world that XYO and XY Labs are primarily involved in as an organization. I also strongly believe in decentralization and the creation of the integrated owner / user model.

Please summarize what the meta-verse is in one or two sections.

Web 2.0., The second phase of the Internet, led the world into a new era. We have moved away from simple websites to new interactive experiences and user-generated content. Accelerated by Covid-19, generational differences and technological advances, we are increasingly socializing, shopping, and exploring in virtual worlds. We are now approaching the next iteration of the Internet, Metaverse, which will be a convergence of both the physical world and the virtual worlds we play in. In the future, I believe that technology will evolve so much that the physical and digital the world is indistinguishable.

Are you currently working, directly or indirectly, on building a metaverse?

XYO is at the forefront of the Metaverse movement and focuses on enabling people to participate in the global data economy by validating anonymous and secure geospatial data.

With a network of millions of individual notes and users offering their data in exchange for XYO tokens, XYO is positioned to help create a virtual reflection of the physical world that can be replicated to provide live moments in real time .

Instead of handing over data to a faceless multinational company that uses them to generate profits, XYO has leveraged game popularity to win. We have gamified the creation of data through the COIN app, which rewards users with COIN in return for validating geospatial location data while traveling, commuting, jogging or simply in their daily lives.

In your opinion, is Metaverse inevitable, or is it just another trending tech topic that will lose popularity?

Metaverset is simply the next phase of the internet. Companies from almost every industry are assessing the potential of Web3 and blockchain.

Metaverse may be a budding concept, but its underlying foundation is a collection of key industries, including data tracking, logistics, social media, marketing and inventory management.

Why is Metaverse so revolutionary a concept?

In Metaverse, companies, creators, artists and brands will be able to interact with customers, fans and everyday people in ways we have never seen before. Brands built in Metaverse will have the ability to create fully immersive, user-centric digital experiences that correlate with their physical products.

How Metaverse will look to end users is still taking shape, but with the advent of some of the biggest global brands, we can predict that a completely immersive digital world will materialize.

What can people build in the meta-verse that we can not do on the Internet or in virtual reality today? From what limits of our current technology does the metaverse free us?

Despite efforts by tech giants like Facebook to claim Metaverse, no single device controls the burgeoning virtual world. Anyone with the abilities and desire can establish a presence.

I do not believe we can build a Metaverse without a blockchain. Blockchain, cryptocurrencies, and NFTs will allow the meta-verse to grow exponentially.

Metaverse is not only an opportunity for brands to leverage, but a peer-to-peer network that will boost innovation. Thanks to blockchain, users will be able to work directly with each other instead of relying on a centralized operator.

How fast do you think the meta-verse will grow? How far can we expect metaverse technology to grow in the next 5-10 years?

While Metaverse is a popular topic on social media and regular publications, the reality is that the concept is still in its infancy and there is still a long way to go before you can put on a 3D headset and visit exotic world destinations. Projects like Sandbox and Decentraland give a glimpse of what this new world has in store. However, they are still only at the beginning of their adoption curve as errors in the blockchain system, including high transaction costs and slow processing times, continue to improve. Then it’s about helping companies migrate their physical presence to the virtual world and tag each unique real element so that it can be represented digitally.

What is your hope for Metaverse? Do you have any concerns, or does the concept pose any threats?

The prospect of merging our human and digital identities is exciting and potentially daunting. I hope Metaverse stays decentralized and inclusive and serves users equally around the world.

I fear that Metaverse will become a bit of a dystopian nightmare if the right framework is not in place. Many companies and government entities feel empowered to abuse our privacy, manipulate our attitudes, and violate our freedoms. We must ensure that our security and autonomy are protected in these new worlds.

Thank you for your time! One last word?

There is a lot of buzz around Metaverse, but there is still a lot of development to be done before it becomes a reality. XYO provides an important service by helping to build the data infrastructure that will help create a virtual world that reflects the physical world but is accessible from anywhere.

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