There’s been a tremendous amount of hype surrounding blockchain and AR over the last few years. But is that hype valid? Are blockchain and AR the future? Or will they just fall flat and disappoint us? Let’s take a quick look. See if we can find some answers.
A quick look at blockchain’s future.
Blockchain technology began in 2009 with the invention of Bitcoin. It quickly grew from there to support over 2000 cryptocurrencies — each one competing to provide some unique new service that would disrupt some big market.
Those ambitions and promises fell flat when the crypto bubble burst in 2018.
But did blockchain also burst with the bubble?
Here’s a compelling quote from the article “Blockchain: The Ultimate Guide [2020]”
“Although there’s some debate amongst experts about the future of cryptocurrencies, there’s no debate about the bright future of blockchain technology.”
That’s a bold statement. Is it true?
Following the sources we find a Bloomberg article that reads:
“Google is working on blockchain-related technology to support its cloud business and head off competition from emerging startups that use the heavily-hyped technology to operate online in new ways.”
So it seems to be true. The biggest tech companies are not only exploring blockchain, they’re also actively developing it.
If there’s one thing a new technology needs, it’s momentum.
Momentum helps a technology grow because more and more brain power is being put behind it. Imagine technology as a car; it’s fuel would be the thought and innovation put into it by developers worldwide.
So far it’s safe to say that with big companies like Google, Apple, and others fueling blockchain innovation — there is a bright future for blockchain.
A quick look at Augmented Reality’s future.
Augmented Reality has its humble beginnings in the works of science fiction authors in the 1970’s and beyond. But the real fireworks started in 1990 when Tom Caudell, a Boeing researcher, coined the term “Augmented Reality”.
Then, in 1992, Louis Rosenburg (USAF Armstrong’s Research Lab) went ahead and “created the first real operational augmented reality system, Virtual Fixtures. A robotic system places information on top of the workers work environment to help with efficiency. This system could be thought of as an early version of what most AR systems currently do today.”
These days, AR has seen over a billion dollars in research poured into it.
Development of AR may not be as fast paced as blockchain, but that’s because the technology needed time to catch up. Now, with AR headsets like the Oculus Rift and HTC Vibe, AR is finally finding it’s time to shine.
New innovations are allowing Augmented Reality to make its way into hardware: eyeglasses, HUD, Contact lenses, and more.
These hardware breakthroughs are helping AR to see use in various fields too. Most prominently in:
Archaeology, as a way to generate buildings out of ruins.
Architecture, as a way to visualize your new home before it’s built.
STEM education, as a way to help train people.
Commerce, as a way to see clothing displayed on you from a virtual store.
Yes, the future of AR seems to be speeding up.
Blockchain and AR = A future together.
Blockchain and Augmented Reality seem to be a match made in heaven.
Imagine this: you’re browsing a Rolex shop online. You see a Rolex you like. Using your phone you can see what the watch would look like on your wrist.
Deciding you like the color, style, and other items, you decide to buy it.
Since the Rolex is a high value item, each step of its production process is tracked by the blockchain. The expensive bits are all blockchain certified genuine.
When you receive the Rolex you also receive a personal private key to its blockchain identity. If you ever wanted to give it or sell it, you would need to transfer the ownership via the blockchain.
The blockchain would record the time and date of transfership.
No more losing paperwork or haggling with anyone who thinks it might not be real. You have the blockchain token to prove it’s real.
Such a scenario is finally possible when combining blockchain with AR. Such a scenario is just one of many factors proving that yes, indeed, AR and blockchain are the future.
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