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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

Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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ICTE May Bring About Sweeping Changes for Cryptocurrency Exchanges

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Cryptocurrency has taken the world by storm during the last few years. An entirely new financial market was created almost overnight which has captured the imagination of all its participants. Cryptocurrency is even starting to attract institutional money from investment banks, hedge funds, and other proprietary trading firms. Despite the rapid growth, traders remain extremely frustrated by having to deal with the fragmented nature of centralized crypto exchanges.

A Change is Needed

When cryptocurrency first began, there weren’t many participants and the trading volume was relatively insignificant. But, over time, that has radically changed. Some tokens now have a capitalization in the billions and are being traded 24-7 by institutions all over the world. Despite the volume, significant problems exist with the current way that exchanges work. Some of those problems include the following:

  • Constant fear of hackers
  • Exchange manipulation
  • Fragmented liquidity
  • Risk of identity theft

One of the biggest issues regarding centralized exchanges is the risk of being hacked. These hack stories seem to always be circulating around the internet. While experienced traders may have the tools to avoid becoming a victim, potential new traders have zero interest in dealing with this. And it’s not just the small exchanges that are at risk. Even large exchanges, such as Mt. Gox and Binance, are subject to being hacked.

Another huge risk is having to deal with…

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Altcoins

SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

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SonicX
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When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

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