The Third Web #2 - Quantifying Gaze

Today we are taking a quick look at a range of problems and their solutions through the lens of a little known project known as Gazecoin. Under the gaze coin banner are a range of projects, among them, a virtual world with purchasable real estate which serves as a content delivery channel.


I first encountered Gazecoin when founder Jonny peters invited me to check out the project’s pilot content-creation studio in Sydney. 

Jonny is an accomplished entrepreneur who made his first move in the entertainment tech space in 1998. He began looking into transmedia and virtual worlds in the mid 2000, and hosted cryptocon, a cryptocurrency summit in 2014. His vision for a narrative driven virtual world and economy enters around one simple input: measuring a users direction of gaze.

Bok Khoo is the legendary Australian Ethereum developer tasked with making Jonny’s vision a reality. This requires a range of tools and is the subject of our discussion today.

Arthur Falls: Welcome to The Third Web. A podcast about next generation Blockchain technology and its applications. I'm Arthur Falls. Today we're taking a quick look at a range of problems and their solutions through the lens of a little known project, Gaze Coin. Under the Gaze Coin banner are a range of smaller projects, among them, a virtual world with purchasable real estate which serves as a content delivery channel. 

I first encountered Gaze Coin when founder, Jonny Peters invited me to check out the project's pilot content creation studio in Sydney. Jonny is an accomplished entrepreneur who made his first move in the entertainment tech space in 1998. He began looking into Transmedia and virtual worlds in the mid-2000s and hosted Cryptocon, a cryptocurrency summit in 2014.

His vision for a narrative driven virtual world and economy, centers around one simple input, measuring users direction of Gaze. Bok Khoo is the legendary Australian Ethereum developer tasked with making Jonny's vision a reality. This requires a range of tools and is the subject of our discussion today.

BokkyPooBah, would you mind introducing yourself to the audience who doesn't already know you, but I'm sure, you know, you're world famous in Australia, that's for sure.

Bokky Poo Bah: Yup. And so, hi everyone. I'm BokkyPooBah, an Ethereum fanatic. Ethereum is my playground. 

Arthur Falls: Tell us a bit about the Gaze Coin project. 

Bokky Poo Bah: So I know this guy, George, the man who recently, well, it was a few months back, introduced me to Jonny Peters. And Jonny Peters has this vision of measuring gaze, so where you're looking at within the virtual reality world. To measure the gaze and to use it for advertising, marketing. You can tell exactly what the user is looking at and if an advertiser wants to pay for advertising, it is a more precise measure.

Gaze Coin is quite interesting because it allows me, myself, to test out a few different technologies from the Ethereum ecosystem while trying to merge Blockchain into the V-hour.

Arthur Falls: So, can you tell us what the vision is of the Gaze Coin world and the virtual Amsterdam? I was at the offices a while ago, and I saw the VR apartments with parties and DJs going on and stuff like that. And some of the storyline as well. The whole thing was really immersive and interesting. It was actually my first real VR experience. I was super impressed and then to have this whole economic layer built in, that's really fascinating. 

Bokky Poo Bah: Yeah, so the Gaze Coin, the first use case is for emphasizes to sell the advertising directly to users who are looking at their ads within the Gaze Coin world, that's a first use case, but then it opens up a lot of different possibilities. One of the things that Jonny wanted to do is for people to create their own tokens within the Gaze Coin world. 

So you could buy yourself a virtual apartment, you could then require people who want to access your virtual apartment to pay in your own tokens. And within your virtual apartment, you might provide some music, you might provide some service. I see the possibilities as limitless. 

So the vision is for the Gaze Coin group to build the initial Gaze Coin world and then to invite other developers to hook into it. And the Gaze Coin itself, the token, will be the incentive mechanism for other developers to come in and try to build something nice that people will visit and pay for.

Arthur Falls: And so this is the classic two-sided marketplace deployment of tokens?

Bokky Poo Bah: Yes. Yes. So once you have many tokens, you need a decentralized exchange. So we've got to build that in. And you've got your virtual apartments, you've got other types of goods and services that you can buy or sell within the Gaze Coin world. So, we will need to build a marketplace for these virtual goods and services. 

So I met Jonny in the studio and saw his green screen setup and you have been told about the Gaze and all that. So his first use case was advertising and managing to measure precisely where someone is looking at. And one thing to use tokens to incentivize for producers and advertisers to use the system the VR system. 

But yes, there's a whole lot of users that comes into play with the tokens. So one of the big problems is that you will expect that a lot of users in the Gaze VR world would not be familiar with cryptocurrency. 

So, requiring to use Ethers to transfer tokens. That is super tedious. You know, you got 10,000 users and each of them need Ethers to transfer tokens. That's too hot.

So, the other problem is that if you are trying to measure the Gaze and there's going to be lots of people on at the same time, then you're going to be generating a lot of transactions, so you would need to work out how to slow that down to fit into the Ethereum Blockchain, because the Ethereum Blockchain handles several tens of transactions per second, so that's one of the challenges. 

So this is a VR world where you have virtual assets, so you would need Marketplace. There are a few problems then, that need to be overcome. This problem with the cryptocurrency, I've been thinking about it since the beginning of 2017, and it applies to mobile games. 

Other marketplaces where you have non-crypto users, all we want the users to see is just the point in the system. You know, like one of the 1980s games, you just have a point. One of the ways of doing this, is to use the Ethereum Message Signing, and this is being set up now, so I've got the smart contracts almost written to send a signed message, and a service provider can pick it up and execute the transaction. 

The service provider pays the Ether transaction fees, and the fees for the users can be paid out of the tokens itself. That's the BokkyPooBah Token Teleportation Service.

So, that will solve the first problem. Where you have users who are not familiar with cryptocurrency, to allow them to have a wallet on their phone or their app that accesses the Gaze world services, and the users can pay for the service using their tokens.

Arthur Falls: So how do people get Gaze Coin? How do the users get Gaze Coin in the first place and loaded into their wallet or their application?

Bokky Poo Bah: So, initially there will be the crowd sale where people will receive Gaze Coin. These people initially will have ethers to contribute the crowd sale smart contract. So they should have ethers to transact, if they need to. For other users, I'm expecting that as Gaze Coin gets built, we would be providing a fiat gateway. So you can use PayPal or a credit card and you pay fiat and you would receive your tokens into your account, so you don't need ethers. 

And once you have it in your wallet, then you can jump into the Gaze world and the transactions will be happening behind the scenes.

A user, one thing to use the Gaze applications, will create an account and it will be a button, create account, and they would have a 24-word pass phrase and using that we can generate the necessary Ethereum account, and that will hold the tokens. 

And the same accounts will then be used to sign messages, which a service provider can pick up. 

Arthur Falls: And so it's by signing messages that validate future transactions, a little bit like State Channel, you can batch their transactions, right?

Bokky Poo Bah: So not quite like State Channels. This is where the other thing comes in, Micro Raiden. So Micro Raiden is perfect for this kind of use case, except that we might need to add a few more bits to Micro Raiden, but the source code is there. It should be released on Mainnet pretty soon. So I'll be looking into Micro Raiden to see whether we can utilize the infrastructure and to add on the Gaze Coin message signing technology to Micro Raiden. 

The other bit for the throughput is for the measurement for the Gaze to be somehow cached, and then periodically used and the transactions to represent a whole stream of Gaze transaction data.

So all that you see as an end user is just a number on the screen representing your tokens, and the numbers will increase or decrease depending on what you're doing within the Gaze Coin world. And you don't need to know that it's a crypto token. 

Arthur Falls: So, I mean forgive me for maybe being a bit blunt, but why has it taken so long? I mean this thing's like a problem that's been around forever and yet, it takes a VR application to bring it to the fore, right? You know, quite seriously, Bok, I in 2014, I didn't even foresee scaling. I couldn't believe that Bitcoin would succeed just based on the usability issues and yet, still today, 2017, and we're still messing around with addresses and in the case of Ethereum, it's even worse, because we don't have the checksum ensuring that it is a valid address, so you can actually just mistype and destroy funds. It's madness. Why is this only being fixed now? 

Bokky Poo Bah: Hmm, yes. I think it's because Ethereum has been quite focused on the developer ecosystem so far. So it's only now that the end user kind of applications are coming out. So it's just at a cost plus breaking out into the mass market. 

Arthur Falls: But the same could be said of Bitcoin though, right? And, I mean, that's been around for a much longer time. So why has it taken so long?

Bokky Poo Bah: Difficult question. I don't know. You don't see Bitcoin or Ether transactions happening in regular applications do you? It's mainly, you know, you get Bread Wallet, you get your Jaxx, you get your My Ether Wallet, but they're not merged in to a system as Gaze Coin system will be. 

Arthur Falls: So what's the story with Micro Raiden? It's a phrase that I've heard thrown around a bit, but I haven't had the opportunity to look into it, and someone who's assessing it as a potential solution is the perfect person to ask. 

Bokky Poo Bah: Yup. So, Micro Raiden is different from Raiden in that Micro Raiden allows one service provider to create state channels to many individual users. Raiden proper allows many users to create the state channels, so that you have a many-to-many relationship. Compared to Micro Raiden, which is a one-to-many relationship, which is perfect in the Gaze Coin case. 

Arthur Falls: So where can people find out more about Gaze and the Gaze Coin project? 

Bokky Poo Bah: ..., the website. There is a Whitepaper and there are several articles that are floating around the internet now. So if you just google Gaze Coin, you should find them. 

Arthur Falls: Thank you, Bokky, always our pleasure. Thanks also to Brakemaster Cylinder for the tunes. Check out for more great content and subscribe to the podcast on iTunes or your favorite podcast manager. 

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