Today, I am speaking with Joel Dietz, founding architect of MetaMask and CEO of MetaMetaverse, a metaverse-building platform. We will share his insights on the current state of the metaverse, the challenges and opportunities it presents, and where they see it heading in the future.
We will also discuss the cutting-edge technology and innovative ideas behind creating virtual worlds that are not only immersive and interactive but also have the potential to impact how users live, work, and socialize. So, without further ado, let's begin!
Please introduce yourself and tell us what you do.
Hi! My name is Joel Dietz, and I'm the founder & CEO of MetaMetaverse, a diverse platform that allows users to build their metaverses and participate in virtual events, games, and much more.
I was also a founding member of Ethereum and the founding architect of MetaMask. I've been in the space for over a decade. Through my studies at Harvard and MIT, I have amassed a wealth of knowledge in the areas of Ethereum development, governance protocols, crypto-economics, and the establishment of legal standards for utility tokens.
What brought you to the metaverse space?
There are several things that had my interest. First of all, the Web3 aspect, tokens, governance, etc., that we have come to know from crypto. Another one is AR and VR, creating new gaming experiences and more.
Finally, psychedelic research and neurology, through which we connect with and learn about the brain and its processes. The convergence of interests and how they could intertwine to create new possibilities is what led me to the metaverse.
Can you discuss the role of blockchain technology in creating and governing metaverses?
Of course, blockchain technology is essential to the success of metaverses. It offers several key advantages essential for creating secure, transparent, and trustworthy virtual environments.
First and foremost, blockchain provides a decentralized ownership model. This is crucial in metaverses, where virtual assets and experiences can be valuable. With blockchain, we can ensure that ownership is verifiable and transferable securely and transparently.
This is further enhanced by providing the same security in its transactions with blockchain-based payment systems. This will be critical for the growth and success of the metaverse, as it enables users to transact confidently and reduces the risk of fraud and other financial crimes.
Blockchain can help us manage identities in a secure and unique manner. This is essential for protecting user privacy and preventing impersonation in metaverses. Furthermore, blockchain technology's decentralized and cryptographic nature also helps ensure data security and integrity in metaverses, protecting against hacking and other forms of cybercrime.
How do you envision virtual society, currency, and economies functioning in the metaverse?
Developers will build virtual societies on a foundation of trust, transparency, and equality. Users will have a secure digital identity verified by blockchain, providing a safe and private environment to interact with others.
I see blockchain-based virtual currencies as the backbone of the economy within these societies. Virtual currencies will be used to buy and sell virtual goods and services and to exchange value between users. Moreover, these currencies will be decentralized and transparent, enabling secure and equitable transactions.
To support these virtual economies, I envision a range of marketplaces and exchanges that allow users to buy, sell and trade goods and services, invest in virtual assets, and exchange value between virtual currencies. Furthermore, decentralized and transparent mechanisms will govern these marketplaces and exchanges.
These aspects of the metaverse have the potential to be more equitable, secure, and transparent than their real-world counterparts, and I am excited to be a part of shaping this future.
What kind of infrastructure is necessary for building and maintaining a metaverse?
Building and maintaining a metaverse requires a robust infrastructure supporting the high demand for computing, storage, and network resources.
Key components include high-performance computing, large-scale storage, fast networking, scalable infrastructure, decentralized architecture, open standards, and interoperability with other virtual and augmented reality systems. Our metaverse project is designed with these considerations in mind to provide users with a seamless and immersive virtual experience.
How do you see the metaverse impacting and potentially replacing physical societies in the future?
The metaverse is complementing physical society, not replacing it. The metaverse offers unique opportunities for individuals to express themselves and connect with others in new and innovative ways. Still, it can never replace the richness and complexity of human interaction in the physical world.
However, the metaverse will certainly have a significant impact on the way we interact, work, play, and socialize. It will offer new opportunities for people to engage with one another in virtual environments and can revolutionize how we think about and interact with technology.
In the future, I envision the metaverse as a vital component of our connected world, providing a new and exciting dimension of human experience and connection.
How do you plan to address privacy and security issues within the metaverse?
We are working to implement robust security protocols on the platform, give users control over their personal data, comply with privacy laws, educate users on privacy, and collaborate with industry leaders to ensure a secure virtual experience.
This comes partially with why the team joined the OMA3 alliance as well, to learn from great peers within the space and keep ourselves updated on privacy and security updates within the ecosystem.
How do you envision the metaverse impacting gaming, education, and real estate?
The metaverse has the potential to disrupt and transform many industries, providing new and exciting opportunities for innovation and growth.
For gaming, the metaverse will provide an immersive and interactive gaming experience like never before, allowing players to get fully immersed themselves in virtual worlds and engage with others in new and innovative ways, further enhanced by the integration of VR technology.
This concerns companies and brands engaging with audiences in similar fashions - where gaming meets brand recognition and immersion.
In terms of education, the metaverse has the potential to change the way we learn and educate, providing students with new environments where they can experience new and innovative educational content freshly and engagingly.
Simulating future endeavors and careers for students while providing them with the possibility of a hybrid schooling approach - individuals being taught at home for any reason can finally join in a more immersive and comfortable learning environment.
Real estate will be able to use these virtual environments to provide new opportunities for people to showcase architecture, views, landscapes, and more.
Through VR, for example, people can view properties remotely as if they were there in person. This can change how we think about and use real estate, providing new and exciting opportunities for developers and consumers. Our team is discussing a few of these ideas with decently sized real estate and architecture firms.
These can enhance these industries, and I'm very excited to see how these sectors will benefit from their integration in the future.
What ethical considerations should the industry address in creating and developing the metaverse?
Potential ethical considerations must be considered in the creation and development of the metaverse, especially with its nature of rapid and unprecedented advancements.
Ensuring the safety of users within the virtual world, protecting their privacy and security, promoting diversity and inclusivity, and considering the economic impact of the metaverse on communities and individuals are just a few of the key ethical considerations that the industry must address.
Considering these considerations, we can ensure that the metaverse is developed and used responsibly, respecting all users' rights and dignity.
Can you discuss any current or future projects you are working on related to building and expanding the metaverse?
Well, as mentioned above, I'm heavily involved in the OMA3 alliance along with brands like Sandbox, Upland, Animoca, Alien Worlds, and more, to name a few - focused on ensuring virtual land, digital assets, ideas, and services are highly interoperable between platforms and transparent to all communities.
Along with this, in direct relation to the MetaMetaverse, I'm constantly building on MetaLambda algorithms, which are cross-platform functions accompanied by computational lifeforms, these being seen in Von Neumann's Universal Constructor Theory. In addition, in collaboration with the Wolfram Institute, we are researching the Ruliad and using this knowledge in our assessment of the Zuse Hypothesis.