The renaissance of blockchain?
It’s fair to say that cryptocurrency had a shockingly bad year in 2022. With hackers and thieves lifting prodigious electronic sackfuls of cash from a variety of exchanges, and whole exchanges collapsing into the sand on which they were built due to chronic mismanagement, it was a year that made even some significant adopters wary of dabbling again in what became known as an unstable environment. Blockchain, which the tech world knows is the underpinning technology on which things like cryptocurrency are built, was tarred with the same brush to some effect in the eyes of the wider public, meaning it has some distance of education to run to free itself from the bad odor of cryptocurrency and establish itself as an understood part of the wider business and domestic world.
The question is how it can do that in a world in which it’s largely a badly misunderstood force, despite already underpinning a lot of existing and developing technological transactions and work?
We sat down with Ronny Tome, who perhaps unsurprisingly is the founder of a well-regarded blockchain named Ducatus. His conviction is that blockchain is – or at least could be – an entirely revolutionary technology across myriad sectors if only there was sufficient understanding and take-up of it.
Read the rest of this article and more insights by our Executive Chairman Ronny Tome in this 2-part series by Tony Fyler at Tech HQ.
The Multiverse: Real or Reel? A look into a multibillion-dollar opportunity
Three decades ago, the American sci-fi author Neal Stephenson introduced the idea of a dystopian future designed for the privileged few. In his 1992 novel Snow Crash*, the theme revolved around a future world where people can escape into an alternative 3D realm. In this same novel, he introduced the word metaverse and imagined the concept of the avatar.
While the term metaverse has been popularly attributed to Snow Crash, the idea of virtual reality (VR) has been around way before its time. VR technology and VR devices have been essential in medical, flight simulation, automobile industry design, and military training purposes. Providing the immersive environment and experience for learning and discovery, VR is the crux of today’s metaverse. However, metaverse proponents believe that possibilities are not limited to VR. As it evolves, the metaverse may incorporate other technologies such as augmented reality and mixed reality to provide a depth of experience that can be shared by various internet users everywhere – a shared reality*.
To continue reading this think piece by Ducatus Group Executive Chairman Ronny Tome, head on over to Impact Wealth or click this link https://impactwealth.org/the-multiverse-real-or-reel/
The Eco-Revolution: Unraveling The Environmental Impact Of Blockchain And NFTs
In the ever-evolving world of technology, few innovations have captured the world’s attention just as much as blockchain. At the heart of this world lies NFTs, which are digital assets that represent ownership or proof of authenticity of a piece of art, collectibles, virtual real estate, or any other digital asset. What sets NFTs apart is the fact that each one is unique and cannot be replicated – unlike traditional cryptocurrencies like Bitcoin. The popularity of NFTs has been rising – so much so that in 2021, the NFT trading volume hit $10.7 billion, according to CNBC
However, the rise of NFTs has also raised concerns about their environmental impact and the sustainability of their growth. This mainly falls back on the carbon emissions of the underlying blockchain technology, particularly in the case of popular networks like Ethereum.
Continue reading here https://gardenof.life/blog/the-eco-revolution-unraveling-the-environmental-impact-of-blockchain-and-nfts
Sustainability In The Digital Age: How NFTs Are Driving Change
In the world of digital ownership, Non-Fungible Tokens (NFTs) have brought about a new era full of exciting opportunities, creativity, and innovation. However, concerns about their impact on the environment have been on the rise. How much do you know about NFTs and environmental sustainability? We’re here to explore the crossroads between these two concepts and explore ways in which both can co-exist in today’s world.
A brief look at the environmental impact of NFTs
The widespread adoption of NFTs has raised a significant concern regarding their energy consumption, primarily driven by the blockchain network. This energy usage stems from consensus algorithms like Proof of Work (PoW) or Proof of Stake (PoS) utilized in the creation and validation of NFTs. Complex computations, known as mining, demand considerable power and electricity, contributing to carbon emissions and posing an environmental challenge.
Addressing such concerns, Ethereum transitioned from PoW to PoS consensus in September 2022, drastically reducing its energy consumption by around 30,000%. This is because in PoW, the reliance on energy usage is very high. However, the PoS system consumes less energy and individuals can earn the privilege to add blocks to the blockchain. However, the transactional aspect of blockchain, with associated gas fees for miners, still presents environmental concerns, emphasizing the need for a balanced approach between technological advancement and environmental responsibility.
The crossroads between NFTs and sustainability
Blockchain – whereby NFT transactions take place – requires a massive amount of computational power and electricity. This means it has a negative impact on the environment. However, adopting measures like carbon offset initiatives, for example, can counterbalance the carbon footprint of NFT transactions. These initiatives focus on investing in projects that actively reduce or offset carbon emissions. In turn, this counterbalances the emissions produced by NFT activities. By dedicating resources to reforestation efforts, renewable energy projects, or carbon capture technologies, the NFT community can take actual steps towards neutralizing its carbon footprint. This not only contributes to environmental sustainability but also aligns with the global fight against climate change.
Continue reading here https://gardenof.life/blog/sustainability-in-the-digital-age-how-nfts-are-driving-change
Navigating the Metaverse: Innovations and Opportunities for the Hospitality Industry
The metaverse is not just a trend; it’s a paradigm shift that will redefine how guests interact with your brand.
The metaverse may be a new and evolving technology, but its potential to revolutionize the hospitality industry is boundless. The convergence of digital advancements, such as cryptocurrency, blockchain, NFTs, AR/VR, and more, has opened an exciting new frontier for leading hotel brands. Let us explore how this sector can leverage the metaverse to create immersive and engaging experiences for guests, as well as streamline operations, and drive innovation.
Continue reading this piece by Ducatus Executive Chairman Ronny Tome here: https://hospitalitytech.com/navigating-metaverse-innovations-and-opportunities-hospitality-industry
Blockchain – a matter of trust
Blockchain is a technology vastly misunderstood by the small fraction of the general public that know it’s something different from cryptocurrency (the most public – and last year at least, the most publicly disastrous – application to run on a blockchain basis). Ronny Tome, founder of the Ducatus blockchain, is advocating for blockchain to be applied in a range of other ways, and for the ways in which it’s already in use to be more widely understood.
Read more of this article by Tony Fyler at Tech HQ. https://techhq.com/2023/05/blockchain-a-matter-of-trust/