High Fidelity’s Philip Rosedale has published a couple of blog posts regarding High Fidelity’s roadmap for currency and content protection. The posts really need to be read in full to be fully appreciated and they are rather lengthy and technical, but I would certainly urge content creators to read them, there are some very interesting ideas and proposals at play here.
The first post, Roadmap: Currency and Content Protection, outlines plans for a new currency, HFC :
We are getting ready to deploy blockchain software to create a new currency for virtual worlds, called HFC. This currency will be a public blockchain with a consensus group made up of multiple parties, and ultimately independent of High Fidelity’s control.
That line about being independent of High Fidelity’s control is important for a few reasons, the glaring one being what would happen if High Fidelity went away, which is answered in the post :
Q: Will my money and digital assets survive if High Fidelity goes away?
A: Yes. Because the HFC blockchain is a public ledger, anyone can (and many will) make a backup of the data. If High Fidelity were to disappear, someone else will startup a new blockchain from that backup and provide the same service of accepting new blocks to write to the ledger. Also, both High Fidelity and the blockchain software we are using are open source.
There’s a lot more in the post, it covers security, privacy, wallets and stable exchange rates. The last point is relevant because it explains why High Fidelity want to create their own currency rather than using existing options. This is definitely worth reading.
Continue reading “High Fidelity Roadmap Highlights New Currency And Content Protection”
