Cryptonite.ae interviewed blockchain enthusiast Meike Krautscheid on Twitter Space last July 18, where Cryptonite.ae founder Sarah and Krautscheid spoke about the Metaverse and its future, blockchain technology, Dr. Craig S. Wright, and more.
What do you need to know about the Metaverse with @meikexom ( Meike krautscheid) CEO and Founder BlockXspace.@webzz @sarahvaibhavali
Tomorrow the 18th of July 2022 | 8pm IST | 6:30 pm Dubai. #NFTCommmunity #Metaverse #blockchain #TwitterSpace #web3https://t.co/7cTrvB3Ibl pic.twitter.com/H98uBJLvx8
— Cryptonite.ae (@CryptoniteUae) July 17, 2022
When asked what inspired her to join the blockchain space, Krautscheid told her fellow speakers and listeners that before blockchain, she worked in the events industry and was looking for something scalable, especially within the Internet. She started studying business economics in addition to attending startup events where she heard about blockchain technology and digital assets.
“I heard of the use case where users can send a penny around the world within a second for a fraction of a cent, and it blew my mind because I knew this would solve the problem of more than 1.7 billion people globally,” she said.
Krautscheid added that one could do much more than only sending cross-border payments on [BSV] blockchain in a secure, fast, and cost-efficient way. She told Cryptonite that she started researching more and connected with the thought-leaders in this ecosystem and worldwide until she found the SmartLedger Solutions team.
“In the last couple of months, I realized that I had to start my own blockchain business to actually follow the fundamentals of this technology, as it represents values I would love to see in the world, namely purity, transparency, honesty, and immutability in all the things that we do and see in the world. And I noticed that I need to create my own company to ensure that the principles of the blockchain are also represented in the actions of the company,” Krautscheid, who now owns a company called Block Xspace, said.
She added that users could have complete power over their data by putting data on chain. On the contrary, big players like banks have power over their data when not centralized. When on chain, you can also monetize your data, and it can’t be misused as it is currently being done.
Can everyone get accommodated in the Metaverse world?
“Not everyone has to be on the Metaverse, just like how not everyone needs to be on the Internet, but I think so much in my world would be missing if I would not enter the Internet, for instance. And my life is so much more enriched because of it,” Krautscheid responded.
“When I look back at the early 2000s, I had to learn how to write an email, and I think it was a process for everyone. Metaverse is similar as far as learning the basics is concerned: how do I get on the Metaverse? What do I need? What and how does it work? This is currently a learning phase, and some people might not be interested in it,” she added.
Most people are speculating about coins nowadays, Krautscheid pointed out. Stating it is currently more of a downside because only those who know how to short coins might be able to make profits, but now is probably not the right time to just buy coins and hold onto them.
Fellow speaker Paresh Dudhat, co-founder of Procyon Labs, asked Krautscheid how long she thinks it would take for Metaverse to flourish technology-wise. Krautscheid then cited a recent study published by McKinsey and Co. indicating a noticeable impact of Metaverse by 2030.
The study noted that by 2030, the Metaverse industry would be worth over $2.2 trillion; its impact on e-commerce will be perhaps worth $2.6 trillion; on the academic virtual learning market worth $270 billion; on the advertising market worth $144 billion; and billions of dollars on the gaming market.
According to the study, the next eight years are expected to be a period of extensive growth for Metaverse.
“Jeff Bezos launched the Amazon website in 1995 or towards the end of the 90s; something similar is happening here. The crypto prices made a hype, but this doesn’t mean that people are actually using it. However, I think it is very important to actually make the switch to people actually using it,” Krautscheid remarked.
“Not the whole Internet could run on blockchain as the scalability is not high enough. So expecting everybody to be onboarding the world of Metaverse right now and that it would run on chain is not even possible from a technical standpoint currently. But we will see considerable developments in the next eight years, hence it is alright that this process takes time. We might be able to become the next Jeff Bezos.”
In summary, Krautscheid spoke about her meetings and interactions with Dr. Craig S. Wright, the inventor of Bitcoin.
“Craig is Craig. He is very kind in person, although he can get a bit fiery on stage. But he is one of the most famous persons in the crypto world and has several blockchain patents under his belt. He will continue to make a lot of noise in the space,” she said.
Watch: The BSV Global Blockchain Convention presentation, Masters of the Metaverse
New to Bitcoin? Check out CoinGeek’s Bitcoin for Beginners section, the ultimate resource guide to learn more about Bitcoin—as originally envisioned by Satoshi Nakamoto—and blockchain.