David Birch Defines Metaverse

By Dexter Cousins on 10/08/2023

"The metaverse is going to be built with an identity layer and a value layer, making it a safer and more secure place to do business."

- David Birch

It's hard to cut through the hype and tripe of the Metaverse. In this episode Dexter Cousins chats to David Birch to define Metaverse and explore what it actually means for the future of money.

What they unpack is an exciting and tangible new internet that holds incredible potential for Fintech businesses, individuals, and society as a whole.

About David Birch

David Birch is an author, advisor, and commentator on digital financial services. He is the author of several books, including "The Currency Cold War", "Identity is the New Money" and "Before Babylon, Beyond Bitcoin." Birch is known for his expertise in digital identity, digital money, payments and the future of money.

"Tokenisation is going to be much bigger than Blockchain."

- David Birch

Metamoney: Payments in the Metaverse

David Birch defines the metaverse and its potential impact on financial services. He shares his journey of exploring web 3, the metaverse and digital identity writing a research paper and book on the topic with Victoria Richardson.

David explains the difference between virtual worlds, gaming and the metaverse, emphasising web 3 is essentially the infrastructure of the metaverse. What makes the Metaverse compelling is the concept of property ownership via tokenisation, digital wallets and digital identity.

David also highlights the potential for tokenisation leading to vastly reduced transaction costs and increased security. And a key reason why major banking institutions are taking tokenisation and stable coins very seriously. David also discusses the role of AI and smart wallets in shaping the future of financial transactions for society, acting as a personal financial advisor and handling every day transactions.

Key Takeaways:

  • The metaverse is not just about virtual worlds; it is about property ownership and digital identity.
  • Tokens and digital identity are crucial components of the metaverse and will enable secure and efficient transactions.
  • The metaverse has the potential to reduce transaction costs and create a reputational economy based on avatars.
  • The integration of AI and smart wallets in the metaverse will revolutionize financial transactions.
  • The metaverse will be a safer and more secure place to do business, leading to a shift in the financial industry.
  • Web 3 is essentially the infrastructure or enabler of the Metaverse.

David Birch is on a tour down under August 2023 and will be making appearances at Intersekt and a number of exclusive events (details below)

Thanks to PayEd https://payed.biz/ for bringing you this podcast. You can catch David Birch in person at the following events:

  • 17/8 Fintech Australia / ConnectID Pre-Intersekt Registration Link https://events.humanitix.com/pre-intersekt-2023-event
  • Join Dexter! 20/8 Fintech Cruise [2-5pm], Newcastle Harbour NSW  Email info@payed.biz for more details
  • 22/8 Executive Workshop Au10Tix, Sydney Email info@payed.biz for more details
  • 30/8 Fintech Australia Intersekt Conference, Melbourne https://www.intersektfestival.com/registration/

You can follow David's work -
visit www.dgwbirch.com
writing David's Books/Magazines/Articles
twitter David Birch

Article written by Dexter Cousins
Founder of Tier One People and host of the Fintech Chatter Podcast.

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