High Fidelity reveal currency and IP protection roadmaps

Inara Pey: Living in a Modem World

In a pair of blog posts, Philip Rosedale of High Fidelity revealed the company’s plans to use blockchain technology as both a virtual worlds currency and for content protection.

The blockchain is described as “an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value” (Don Tapscott, Blockchain Revolution: How the Technology Behind Bitcoin Is Changing Money, Business, and the World). It allows transactions to be simultaneously anonymous and secure by maintaining a tamper-proof public ledger of value. While it is most recognised for its role in driving Bitcoin, the technology is seen by more than 40 of the world’s top financial institutions as a potential means to provide speedier and more secure currency transactions. However, the technology has the potential to have far wider application.

To understand the basics of the blockchain, think of a database…

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Author: Thomas

A man working his life out, day-by-day

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