Blockchain Based Asset System

From Open Metaverse Wiki

The views expressed below are not necessarily those of the Open Metaverse Research Group, but are the author's alone.

Blockchain As A Security System

The US Defence Department has Fellowships for mid-career officers of note to pursue research. The sole USAF Defense Fellow at present, Major Jason Lowery, has authored a paper how the bitcoin protocol proof of work blockchain serves as a breakthrough in a new type of cybersecurity to protect classified data, as well as sovereign financial security. This doctrine is being called "Mutual Assured Data Preservation". It seems wise that those concerned about an Open Metaverse must pay heed to this doctrine and apply it to keep the IP data and the economic security of the metaverse secure via similar protocols. Hardcopy of his Thesis, "SOFTWAR" is available on Amazon.

As An Asset System

A Blockchain Based Asset System uses smart contracts on a blockchain to secure both creator rights and next owner permissions for all digital assets required for a virtual world/reality environment as well as community functions from groups, chat functionality, governance, dispute resolution, events calendars, etc.

Features include:

  • Native cryptocurrency
  • Easy fungibility with other cryptocurrencies or fiat payment systems
  • Perpetual user control over their avatar identity, name, assets, etc
  • Assets secured on chain ensures the user has full portability of their content to any virtual land hosting grid operator.
  • Smart Contract protection of creators IP rights and enabling creators to control what next owner permissions are allowed for those who buy/use the content they create. The smart contract is enforceable in court, establishing an immutable, unalterable permanent record of an IP claim, subject only to on-chain juried fact checking review in the case of disputes of valid ownership.
  • Built in heuristics during the content upload process that examines the perceptual hashes of an object for similarity to other content already on-chain, giving the more recent uploader the option of paying a royalty to the previously registered creator, or of contesting the original claim in an on-chain juried fact checking system that is affordable for creators whose work is often sold for micropayments, bypassing the real world legal system that is slow and excessively expensive. This juried system should be smoother operating and more responsive and effective than the DMCA which is often a failure and used as a tool to harass real creators.
  • Grid hosting services can sell Virtual Land Title NFTs, which would be exchangeable on asset markets like any other content.
  • Grid operators can simultaneously operate blockchain staking Nodes to earn transaction fees from their node authenticating blockchain transactions, which enables them to turn what was previously a cost center (the asset server) into a profit center.
  • Groups organized on chain as Decentralized Autonomous Organizations or DAOs are automatically treated under real world law as LLCs (for profit or nonprofit, either way) that can own assets and funds, hold their own leadership elections and votes on DAO actions, and be explicitly auditable by anyone.
  • Roles in Groups are established with Non-Transferrable Rank Tokens and can be negated by Non-Transferrable Rank Negation Tokens
  • Event Calendars populated by Proof of Event (POET) tokens, and attendance completed via Proof of Active Participation (POAP) can be either publicly available, white listed or private.
  • Content creators can simply publish the public keys of the NFTs for content they make available, offering a given commission to sales intermediaries, and anyone operating a market website can sell their content.
  • Wallet multi-key generators allow users to create unique public key wallet addresses for each transaction to ensure privacy of the users true wallet address, and assist with personal privacy.