Metaverse Will Need a Very Human Touch to Really Reach People

Ishan Pandey: Hi Hung Luu and Björn Heinze, welcome to our series “Behind the Startup.” Please tell us about yourself and the story behind Smart Places Protocol?

Hung Luu: Hi Ishan, it is a pleasure to be here. I am a self-taught full-stack developer of mobile apps for iPhone and Android focusing on marketplaces and blockchain technology.

Originally being in the real estate business for more than ten years and having worked at 1st tier company amongst others / having successfully managed large-scale projects with a volume of > € 1 bn in total / having undergone all lifecycle management stages (acquisitions, project development, asset management, financing, disposition) with past experience at Goldman Sachs.

Björn Heinze: I've been passionate about identity and data privacy ever since. These are human rights, and many people in the world suffer from not having an identity or their data being private due to government surveillance. As a lawyer specializing in IT and privacy, I was excited about blockchain technology, which can be so incredibly valuable here and will be a game-changer in many ways. Since that, I've been in that rabbit hole.

I just love the vision of SmartPlaces Protocol. Giving people power about their identity and ownership of their data. Connecting people in real life and bringing them together. Making all these opportunities available at all SmartPlaces in the world which can be a small village in Africa, Australia or the capitals of the world.

Ishan Pandey: What are your views on the Metaverse? Further, what future do you see in the next 2 years for the metaverse industry?

Hung Luu: I guess we’re all excited, about what the Metaverse can bring to us, humans. There are so many possibilities and opportunities. Creativity without boundaries might bring so many changes that it’s not easy to imagine.

So I see more or less two perspectives.

On the one hand, a new virtual world that in its beginning will reflect reality as we know it today. Already that is a game-changer if we - for example - meet virtually in a restaurant and shake hands with an avatar. Then soon I guess entire new worlds and universes will be created that will be out of imagination today. I mean some years ago, nobody imagined that we all would use a mobile phone to make a video call with someone on the other side of the globe and download videos while we make our banking payments.

But that’s just one side of the coin. The Metaverse might be virtual and disrupt many habits or standards but humans stay humans. We don’t like somebody because an algorithm tells us that mathematically we should. We don’t trust someone just because technology tells us to do so. Humans feel and humans believe.

That’s why I think the Metaverse will need a very human touch to really reach people and to convince them to shift large parts of their life in this artificial world. Regarding this aspect, I see a lot of demand for the Metaverse.

Ishan Pandey: Please tell us a little bit about why there is a need for ID in the metaverse and its use cases?

Björn Heinze: Metaverse might be virtual but the users behind the desktop are humans. Whatever these avatars in the Metaverse will do or will be able to do, in the end, it’s the human who decides.

How can I differentiate between real users and AIs or in general between humans and machines? Even in the real world - just think of online chats for customer support - it’s nearly impossible to distinguish for example between the AI and that of a human. If in the Metaverse everything will be virtual, we humans can’t use our senses and usual “human” methods. We need help and support.

Here comes our NFT Identity label in the game to enable users to own and seize one of their most valuable assets: their identity. By introducing an NFT-identity label (“Smartee ID”), users can be verified as real people. Based on blockchain technology, we enable and incentivize users to interact and connect in real-world situations with other users. This is considered as proof that the users are real people and leads to obtaining the Smartee ID.

Use cases are in several regards. If I interact with other users, questions will arise. Sometimes I will not care whether another user is real or not. But in many situations I will: I do want to know if another person is real if I chat with somebody that I like or I want to share private information with. Other users, I’m gaming with and it's a competition. Or in general users, I want to make business with. The same occurs for retailers and developers that don’t want to spend money on advertisements that target bots.

Ishan Pandey: According to you, what are some of the primary ways metaverse will alter users’ lives?

Hung Luu: Great question and not easy to answer. But starting from the economy and user behaviour as we know it from the “old” world, I guess that we will see a lot of progress and change of user behaviour as companies will construct their “physical” stores in the metaverse. Advertisements will likely become more aggressive as users are more visible. But also offices and business events will occur much more often and will have an influence on the way we work.

And I think cryptocurrency will play a major role in the Metaverse.

Ishan Pandey: How do Connect2Earn works? Further, please give a technical explanation of its architecture and use cases?

Björn Heinze: With "Connect2Earn" we incentivize social interactions between users in real life.

We developed a mobile application that enables social interactions between users in real life. It’s a 1-click solution, like Shazam. Just one click and users will be online and can find other users who are directly around them.

Furthermore, our app is based on a gamification approach that rewards users with tokens for every contribution which leads to social interactions with other humans in real-life situations.

It is in a certain way like the Pi-Network but a bit different although: Press the button, see other users around you and earn tokens. And on the fly, while earning tokens, can connect with other users.

The idea behind this is that we want to have as many users as possible to use the app. Because when users interact with other humans, they do a kind of "work". In doing so they contribute to the identity and trust label of other users with whom they are interacting. And for that work, Smart Places Protocol will compensate them with tokens. The smarter the user’s engagement is, the higher will be the outcome of token rewards!

Technically our app is a geolocation-based solution. The protocol aims to deliver the decentralization of user data storage, data monetization and user geo-location.

The aim of the application is to provide for a bottom-up architecture that remains user-centric in all its aspects. From security to rewards and to data consent, we want a social experience where you finally get rewarded fairly for your participation!

Ishan Pandey: Some argue that the metaverse is little more than marketing hype, while others argue it will revolutionize civilization. According to you, what are the major hurdles in the industry which may impact the Metaverse ecosystem?

Hung Luu: In my opinion, the major hurdles will be quality on the one hand and trust on the other hand. If users don’t see progress and advantages compared to the standard they’re used to, they might try it but they won’t accept it on a long term basis.

The same is valid regarding trust. If people don’t feel comfortable and safe, they won’t deny this new world.

Ishan Pandey: Brands have developed arenas, services, and branded characters inside games as some of the more interesting Metaverse deployments. According to you, will we soon witness mass shifts across all sectors to this digital world? Further, why are brands building in the Metaverse?

Björn Heinze: In my opinion, there are very different reasons for brands to build in the Metaverse. Some are creative and searching for new ways of acquiring customers. Others have concrete ideas for their product that might be easier to sell in the Metaverse. And other companies want to define standards and want to determine in which direction it develops.

But I don’t think that we will have a kind of massive shift. However, it depends on technical development and the speed of progress. The better solutions get the faster the shift will happen.

Ishan Pandey: What role has the pandemic and the persistent lockdown across the globe affected in the development of the blockchain industry and what will the scenario look like in the post-pandemic era?

Hung Luu: The pandemic plays an important role in so many fields, so in the blockchain industry. But the pandemic is in my opinion not the main driver for the blockchain industry. The basis for this development is the emerging desire of many people for more decentralization and the loss of trust in the decision making of established institutions.

Ishan Pandey: According to you, what new trends are we going to see in the blockchain industry?

Björn Heinze: In my opinion, we will see more regulation at least in parts of the world, regarding (private) wallets but also regarding DeFi in general. But as the acceptance of crypto and blockchain grows, I believe we will see even more investment opportunities than today. And I think Bitcoin (and other cryptocurrencies) will still be big business.

Disclaimer: The purpose of this article is to remove informational asymmetry existing today in our digital markets by performing due diligence, asking the right questions, and equipping readers with better opinions to make informed decisions.