Did you know you can have a blockchain without cryptocurrency?
During the latest episode of the Invezz podcast, I caught up with David Lucatch, CEO of Liquid Avatar Technologies. It was unique because David’s company operates in the Metaverse space and uses blockchain technology, but it doesn’t have a token. It has nothing to do with cryptography, he pointed out.
Are you looking for news, tips and market analysis? Then sign up for the Invezz newsletter today.
With so much in the crypto world based on relentless speculation, it was refreshing because there is nothing to speculate about. Instead, the chat focused on blockchain technology.
Aftermath Islands is a subsidiary of Liquid Avatar and the first organization to use what is called proof of humanity. This allows users to create a digital fingerprint that proves they are a real individual, while theoretically ironing out many of the downsides the current system is working on. It aims to create a safer and more private experience and eliminate the need for usernames and passwords.
We discuss the concept in detail below. This seems especially timely these days, as Elon Musk is on the warpath against bots and fake accounts on Twitter, privacy is constantly in the news and more and more people are noticing how it is being tracked. on line. The blue tick debacle turns out to be a fun debate, and David discusses how the concept of proof of humanity could be used to solve some of the problems arising from the ongoing saga.
The conversation covered many different areas. Besides the technology of how it all works, we talked about the growing need for regulation in this area and what this could mean for digital identities.
Of course, mentioning what’s happening in the broader crypto market was unavoidable, with markets crashing throughout the year. But since Liquid Avatar is not a cryptocurrency, I wanted to know how David felt when all these room-shaking scandals emerged. Has Liquid Avatar been unfairly discredited with a “blame by association” attitude given how toxic many people think cryptocurrencies are right now?
It was a fascinating insight into the pure technological side of crypto, i.e. blockchain. Even the concept of something running on a private blockchain is quite unique. I asked if there were any trade-offs here and the rationale for implementing this approach.
It was definitely a different take on the blockchain world!
Thank you for listening, follow us and subscribe here: