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VR for social networking? What’s Tron (TRX) up to?

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Will VR be the key to Tron’s social network implementation success?

When Satoshi Nakamoto, the elusive legendary code writer who invented the blockchain and Bitcoin, released his ideas about a new currency based on cryptography, he was very clear about the goal: it was about getting rid of fiat currencies, banks, and credit card companies through full decentralization. Very ambitious but very clear.

That’s what it’s all about. That’s what all cryptocurrencies are about. Bitcoin, Litecoin, Ethereum, you name it, they are all going after fiat money. But there’s one exception: Tron.

While Tron’s project does include a cryptocurrency called Tronix (TRX), Justin Sun‘s vision is even wider and more ambitious than Nakamoto’s. Tron’s CEO and founder wants to use the blockchain to create a fully decentralized web in which corporations have no power over content or monetization processes. He targets the entertainment industry mainly, but he basically is going for everything.

The ban on social media: bring it on!

Sixty days ago Twitter joined the anti-crypto club started by Facebook and Google. None of those firms has been outspoken against Bitcoin or any other digital currency (Facebook even started an in-house blockchain team recently), but they’ve been draconian in banning any and all adds related to cryptocurrencies. They are currently being sued for this in countries like South Korea, China, Russia, and Switzerland.

The ban isn’t great news for the crypto world because lack of advertising in media as important as those will slow things down. However, a closer look at the situation suggests that it could backfire against the social media giants and end up favoring the crypto community. Here’s why:

Internet decentralization

Decentralization is the core value of cryptocurrencies, the quintessential feature of the blockchain. The media giants are central authorities in their own fields, they’re not too far from being monopolistic. If they are not Big Brother (not an overstatement after the Facebook and Cambridge Analytics scandal) they are at least gatekeepers. If their behavior serves to illustrate the abuses inherent to centralized power, it only bolsters the need for decentralization on the internet.

Banned things become interesting

When Orson Welles finished filming Citizen Kane and the film was banned, he was just elated. He knew right then and there it would be a huge success (which it was, and it’s considered until today as one of the best movies ever made).

So Facebook and friends may claim they are keeping crypto away in the best interest of their users. But we all want more something when somebody tells us we can’t have it. Just ask Adam and Eve. So while the ban will prevent faster growth in the short run, it will end up making things more interesting for laymen.

People can become fed up with gatekeepers

If Google, Twitter, and Facebook keep taking unilateral decisions, users can just have enough of them at some point. Companies are not a fact of nature and they don’t last on the top forever.

Remember a time when it was unthinkable for IBM to be outdone on the software business by these two Seattle nerds who started up a little firm that was called Microsoft? A few decades later it was equally unthinkable that Microsoft could be challenged by another small startup founded by another couple of nerds, this time from San Francisco, called Google.

So

The third point is the most relevant for Tron’s case. Justin Sun is trying to rebuild the web from scratch by means of the blockchain so that central authorities for all types of content or social media lose the power they hold. In other words: Sun’s dream is Google’s and Facebook’s worst nightmare.

It’s a very long shot for Tron to get a market share that could be compared to Facebook’s or Twitter’s (at least for now) but it could still create an environment for those content producers who are not so happy about studios, corporations, Google and central authorities in general.

And there’s another possibility: Tron’s blockchain could find another technology to use in tandem. Augmented reality is a good candidate. This combination could create the world’s first VR/AR social media platform, and it would be fully decentralized. That could be the killer app that seals the deal for Tron.

Tron (TRX) and VR

Tron’s looking for meaningful partnerships in the gaming industry. Justin Sun has already created a link with Game.com’s Xu Le who, in turn, has been vocal in advocating and encouraging games that will incorporate the blockchain and cryptocurrencies. He considers the Tron partnership as a win-win deal for both parties.

Once Tron penetrates the gaming industry, bringing VR into their social media would be the logical next step. Tron has the tools, the platform, the resources and the vision to bring it about. That would give the Tron brand, the Tron Foundation, and Tronix a tremendous advantage.

And that advantage would be to stand out. The first obstacle for a new product to do well in social media is the lack of a competitive advantage, of having something that makes it special. That’s the incentive that makes customers move from one platform to another.

Facebook is interesting only if most people you know are there already, for instance. For Tron that could be coupling a successful cryptocurrency with virtual reality. That will snatch some headlines, for sure. As things stand today, Tron can’t seriously think about overthrowing Facebook, or Twitter.

It will have to swim against the current. But it still becomes one of a kind with something like the “premier crypto coin based social media platform” or like “first virtual reality social media platform”. New things are always attractive. If you want someone to remember you, show them something, give them an experience nobody has given them before. That could create just enough interest, attention and users that, in time, they could even become a problem for Facebook.

Virtual Reality games are unavoidable. It’s just a matter of time for them become the rule rather than the exception. Tron is in the right place to be the main crypto factor in this equation and it stands to make a killing if it really takes advantage of those ties.

The first step for Tron would be to get enough meaningful partnerships in the industry and to steer them and their developers into social media outlets. Then, integrating social media and VR would be the next logical step to promote the platform, especially if Tronix and the Tron foundation can shake the gaming industry a bit.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Pxhere.com

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Reasons Why You Are Much Safer When Crypto Trading on Dexes

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While many cryptocurrencies aim to bring the change to the world by bringing full decentralization, one aspect of the crypto space still remains mostly centralized, and that is the way they are exchanged. Most crypto exchanges are centralized companies, where traders and investors need to deposit their coins for safekeeping. This is a risky way to handle the funds, as exchanges remain susceptible to hacks and theft, as many realized recently, after the hack of the world’s largest exchange by trading volume, Binance.

During the hack, around 7,000 BTC (over $40 million) was taken, and sent to multiple wallets, never to be seen again — for now, at least. The hack also came as quite a shock, as Binance was known for its efficiency, security, and high levels of confidence. It also made people realize that their coins are not really theirs if they need to rely on third parties, such as exchanges, to keep them safe. As a result, many are now turning away from centralized exchanges, and are heading towards decentralized ones — also known as DEXes.

Here are some reasons why you might want to consider doing the same.

1. True ownership of your coins

The crypto community has a saying: “not your keys, not your coins.” The saying is now more relevant than ever, but it does not apply on DEXes. Decentralized exchanges

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Crypto Billionaire Predicts Massive Price Growth by 2021

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Crypto prices are once again going up, and Bitcoin has just passed a major resistance level at $6,000. With a situation like that, it is not surprising that everyone in the crypto community is looking forward to the future, wondering what to expect in years to come. Many experts have already given their predictions, some more optimistic than others, but almost all bullish.

Crypto billionaire Mike Novogratz has always been very supportive of cryptocurrencies, and very bullish on Bitcoin. He recently stated that he sees the coins’ prices triple in the following 18 months, meaning that Bitcoin’s return to $20,000 might not be far away, according to him.

He noted that Bitcoin is back to $6,000 after its price hit as low as $3,100 only a few months ago. These days, Novogratz does not believe Bitcoin will return to such lows unless there is a devastating exchange hack or a major shift in regulations. Of course, there was a big hack that had the potential to damage the coin’s price, only days ago. The world’s largest crypto exchange by trading volume, Binance, saw a significant security breach which resulted in a theft of 7,000 BTC.

However, so far, the coin did not react negatively to this incident. While Novogratz believed that such an event would shatter the new confidence in BTC, it simply did not happen. However, he…

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Altcoins

TokenRoll (TKR) Platform Will Take Online Casinos to the Next Level

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Corporate executives are turning to blockchain technology more than ever in an attempt to revolutionize the business world.  Although blockchain is still a relatively new concept, that hasn’t stopped more and more companies from jumping on the bandwagon.  This hot new technology has quickly gained a reputation for providing greater transparency, enhanced security, improved traceability, increased efficiency, and low costs.  One industry that could certainly benefit from decentralization is the online gambling market, specifically, online casinos.  TokenRoll (TKR) has developed a platform that appears to offer a promising alternative to centralized casinos.

Problems with Centralized Casinos

The primary reason why blockchain technology is being implemented so quickly is because it solves a lot of the problems typically associated with the traditional business model.  And online casinos are no different.  It still needs to be said that centralized casinos have proven that there is a great demand for online gambling.  The market is growing faster than anyone could have predicted, and future opportunities appear very promising and lucrative.  But industries are continually evolving and this one is no different.

A few of the problems facing centralized casinos include the following:

  • Little to no transparency
  • Consumer lack of confidence
  • Privacy concerns
  • 48-72 hour wait time for withdrawals

These are four monumental issues that need to be addressed quickly given the global growth of the market.  Casinos need to…

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