Did you know you can have a blockchain without a cryptocurrency?
On the latest episode of the Invezz podcast, I sat down with David Lucatch, CEO of Liquid Avatar Technologies. It was a unique one, because David’s company operates in the metaverse space and leverages blockchain technology, yet there is no token. This is nothing to do with crypto, he stressed.
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With so much of the crypto world predicated on relentless speculation, this was refreshing because, well, there is nothing to speculate on. Instead, the chat focused on blockchain technology.
Aftermath Islands is a subsidiary of Liquid Avatar, and the first organisation to deploy what is known as proof of humanity. This allows users to establish a digital footprint that proves they are a genuine individual, while theoretically ironing out a lot of the inconveniences that the current system labours on. It aims to create a safer, more private experience and eliminate the need for usernames and passwords.
We discuss the concept at length in the episode. It feels particularly topical these days, with Elon Musk on the warpath against bots and fake accounts on Twitter, data privacy constantly in the news, and an increasing amount of people taking note of how they are tracked online. The blue checkmark debacle presents as a fun debate, and David chats through how the proof of humanity concept could be used to tackle some of the issues arising out of the ongoing saga.
The conversation meandered through a lot of different areas. Beyond the technology of how this all works, we chatted about the growing need for regulation in the space, and what this could mean for digital identities.
Of course, it was unavoidable to mention what is going on in the broader crypto market, with markets crashing all year long. But seeing as Liquid Avatar is not a cryptocurrency, I wanted to know how David had felt as all these scandals that have rocked the space have emerged. Were Liquid Avatar being unfairly tarnished via a “guilt by association” type attitude, given how poisonous a lot of people believe crypto be right now?
It was an intriguing look into the pure technology side of crypto, i.e. the blockchain. Even the concept of something running on a private blockchain is rather unique. I asked whether there were trade-offs here, and the reasons for implementing this approach.
It was definitely a different look into the world of blockchain!
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