The Metaverse is a bunch of noise as far as we are concerned. FB needs the Metaverse to work for Act II. For the rest of us – consumers and investors alike – blockchain or distributed ledger technologies (“DLT”), is where it’s at.
DLT will underpin payment systems, financial security trading systems, real estate transactions and transactions of all shapes and sizes in the years to come. Some of the advantages of DLT over legacy systems include: speed, accuracy and security.
- Speed: From a speed standpoint, many legacy systems are hybrid systems with digital front-ends and people-intensive back-end processes. DLT systems are digitally architected front-to-back, and therefore transactions are instantaneous.
- Accuracy: Various DLT transaction elements such as the the identity of interested parties, dollar amounts, payment instructions and more are digital and verified upfront by multiple parties (nodes on the DLT network). Thus, once a transaction is initiated, it ought to be executed correctly as the opportunity for manual error is essentially removed on the front-end.
- Security: Every node on the DLT network plays a role in verifying and executing a given transaction, thus making it significantly more difficult for bad actors to infiltrate a DLT transaction versus a legacy transaction.
Over the past few years large financial institutions have developed DLT-based transaction systems. You may have read about DLT-based “smart contracts”. A number of these companies are publicly-traded, many others are venture-backed private companies. Reach out to us at jmaietta@ceorater.com or jmaietta@tek2day.com for assistance in evaluating DLT investment opportunities that may cross your desk.
One thought on “Forget The Metaverse. Blockchain Is Where To Focus”
Comments are closed.