BSV president urges Meta to store data for its metaverse on a public blockchain

While Meta has not yet launched its metaverse project, Bitcoin SV (BSV) Association President Jimmy Nguyen thinks that it would be better for the firm to store user data on a public blockchain. 

In a Cointelegraph interview, Nguyen shared that a global and interoperable metaverse ecosystem would mean that individual data will be stored within a public blockchain. If Meta takes this method, Nguyen noted that Meta could become an interface that connects a blockchain to companies' metaverse apps. This will allow other metaverses to access user data once users give their consent. The BSV president said that:

“I hope Facebook/Meta take an approach of creating a Metaverse where they build the environment but do not uniquely store your identity and data on their own servers.”

Additionally, the BSV president underscored that this type of vision requires a scalable blockchain that can handle large amounts of transactions and data. According to Nguyen, the BSV blockchain is capable of this.

“A successful metaverse requires a lot of data. Therefore, metaverse projects can benefit from integration with a blockchain with massive scale, data capacity and low fees.”

Because of this, Nguyen also shared his belief that the BSV blockchain may play a role in the metaverse in terms of payments and as a base ledger for all the data files necessary for projects that wish to build metaverses.

Related: Singapore venture firm launches $100M Web3 and metaverse fund

In a panel discussion at the World Economic Forum (WEF), an executive at Lego Group said that metaverses must be developed with children’s perspectives in mind. Edward Lewin, a vice president at the company said that given that kids are the future users of metaverses, people should focus on "building from kids' perspective."

Meanwhile, a recent survey conducted for the WEF showed that developing countries are more eager for the metaverse compared to developed countries. Among the 21,000 adults surveyed across 29 countries, those from high-income countries showed less interest in the metaverse.