From the Metaverse to the Multiverse

December 22, 2021
Grégoire Jeanmart

Starting this autumn much ink has been spilled over the metaverse. It's not yet clear what it is, except maybe some sort of digital environment where people can socialize, play, and exchange value with each other.

The truth is, such a universe cannot and must not be owned by one single company (let's say for the sake of argument that the company in question is Facebook, er Meta). On the contrary, it should be decentralized, trustless, inclusive, and community-driven in the same way that early Internet was imagined and how society has evolved organically.  Today our modern society is made up of billions of connections between people, communities, states, and companies.

Of course, there is a technology that is decentralized, inclusive, and has a community-driven mindset: the Blockchain and more particularly the Ethereum blockchain. The Ethereum universe contains a diverse cohort of builders, entrepreneurs, and investors working on topics like unbundling financial services (DeFi), digital content ownership (NFTs), and organizational structures suited to online communities (DAOs).

Since its birth in 2015, the Ethereum ecosystem has gone from a thought experiment to a completely new paradigm for some components of our society. From a technological, economical, or societal perspective, the Ethereum community grew exponentially and broke down many barriers to become a destination for millions of people to begin on their decentralized journey. We know well enough, that such exponential growth doesn't come without scaling issues in particular network congestion which results in high cost of usage. Nonetheless, Ethereum has slowly become a place for various digital innovations that can help bring people, communities, and value together in an open, secure, and transparent approach. In my opinion, this is the true metaverse our world deserves.

But, a single blockchain isn't enough to encapsulate our needs for digitalization of all aspects of our life, this is why we are at the edge of a new evolution of blockchain technology in which multiple blockchains start coexisting, communicating, and composing together to build decentralized services in the hearth of our digital journey to the metaverse. We start seeing new types of Blockchain innovations such as alternatives to Layer1 (Solana, NEAR protocol), sidechains (Polygon, xDAI, BSC), ZK-rollups (ZkSync, STARKWARE), optimistic-rollups (Optimism, Arbitrum) which brings new properties (speed, cheapness, DevEx,  etc) in hand with bridges that offer an infinite amount of possibilities and use-cases. The future of human digitalization doesn't have to be tied to big tech but could instead be more open, trustless, and inclusive as it should be to empower anyone on earth.

At Multis, we're bullish on this vision of the metaverse. And we look forward to helping the businesses and organizations who want to get the most out of open finance.

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Breaking Legacy: A CFO's Guide to DeFi & Digital Assets
Decentralized Finance (or DeFi) and digital assets aren't just a fad or a bubble. They have the potential to provide value to people typically underserved by traditional banking systems, in particular small and medium sized enterprises. Learn how SMEs can leverage decentralized financial services including:
High interest savings accounts that earn more than traditional bank accounts
Accepting payments in digital assets before incorporation
Receiving instant loans
Invoice financing solutions
Paying salaries instantly in digital assets with no cross-border payment fees
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