Blockchain
Digital Securities Guru Thomas Carter on The Two Keys That Will Unlock Mass Adoption of Cryptocurrency/Blockchain in 2020
New York, NY, Jan. 09, 2020 (GLOBE NEWSWIRE) — (via Blockchain Wire) Blockchain technology saw exponential growth in 2019, unprecedented adoption and interest by governments and institutions around the world validating it’s utility.
With core infrastructure being built out across the planet, enterprise investment and regulatory pathways being defined the stage is set for 2020 to be the year for mass adoption of blockchain technology.
Thomas Carter, digital securities pioneer, and CEO of DealBox outlines two key trends that will bring about massive opportunities in the blockchain space in this new year.
Key 1 – The Fat Protocol & Next Generation Blockchains
Joel Monegro’s Fat Protocol thesis describes how the value of blockchain technology is based on an opposite paradigm to the way value was created via the internet over the past couple of decades. The protocol layer of the internet (HTTP, FTP, SMTP, etc) which is the technology that provides the underlying mechanics for websites, file transfers, and email isn’t where the value was created.
Instead, the apps that used the protocols (Facebook, Google, Amazon, etc) were the winners. Thus, the “thin protocol” designation.
In the Blockchain ecosystem we see the inverse is true where value creation will be realized by the market cap of the underlying blockchain protocol as opposed to the apps being built on it.
In other words, the value in the Ethereum blockchain can be expected to be more than the dApps (decentralized apps) being built on it. Fat Protocol.
This thesis holds true only if the blockchain in question has solved the TPS (transactions per second) or throughput problem. 1st and 2nd generation blockchains like Bitcoin and Ethereum rely on consensus mechanisms that put a huge drag on transaction speed making them unviable by enterprise adoption standards.
3rd generation blockchain is all about increasing transaction speed without compromising the security, immutability and distribution of the chain.
To solve the TPS problem, various new consensus mechanisms are being developed along with sidechain technology.
Sidechains are a separate and parallel data layer that off-loads some of the data from the mainchain thereby reducing the amount and frequency of needing to wait for consensus confirmation. Gorbyte’s GNodes system eliminates the need for miners which has been the traditional bottleneck for TPS. In this latest book, Life After Google.. Gilder coins the term “The Cryptocosm”, to describe the emerging wave of innovative blockchain-based technology companies who are not just bringing paradigm shifting solutions to the market — but redefining the market itself.
Gilder recently had this to say about DealBox security token issuer Giuseppe Gori in this latest newsletter
“Giuseppe Gori is an internet legend..”
On Giuseppe’s new book –
“With Reinventing the Blockchain Gori becomes the reigning prophet of the next phase of the Cryptocosm, and Cryptocosmic investment…” “Gori is the tribune of a new generation of blockchain inventors and their companies.”
Giuseppe’s company Gorbyte has built a blockchain that is faster and vastly more scalable than Bitcoin. It’s easier and more affordable for running smart contract applications than Ethereum.
Key 2 – Usability For those companies, the better model would compensate the users for creating the content and empower them to take their content elsewhere if a better deal became available. With data decentralized, security would be much better and privacy would be better protected.
That’s exactly what a decentralized application built on an open data protocol would do. And the compensation of the users is what a native cryptocurrency token would satisfy in this new business model. Why isn’t this being done en masse? Bitcoin is now over a decade old. Bitcoin miners have been incentivized by receiving tokens and that is precisely why Bitcoin works as well as it does. The model is proven.
Actually, a number of entrepreneurs have tried. Steem is like a decentralized Reddit with a token incentive model and it has been chugging along for sometime.
There are 150 + decentralized apps in the Blockstack app store and a similar thriving ecosystem can be found on Ethereum.
We know that TPS/scalability has been a problem but there is a second key component and that is usability.
Usability for blockchain is in dire need of a refactoring. No matter how amazing a technology is if it is hard to use, people simply won’t use it. More accurately, if they can’t figure out how to use it – they can’t use it. We now have scalability solved with next generation blockchains like Gorbyte and a consortium of other ventures are now working together on a shared vision to improve blockchain usability called “Make Crypto Easy”.
Thomas Carter on the current situation:
“With blockchain tech and cryptocurrency, we aren’t dealing with a typical market adoption learning curve. Bitcoin was born of iconoclastic ideals and philosophy. If you were a technologist and you resonated with the philosophy behind Bitcoin, then you would figure out how to use it. In other words, user-friendliness wasn’t ever a consideration until now and that was mostly on purpose.”
The Make Crypto Easy consortium venture members are focused on solving usability issues in 4 areas of user blockchain user-experience: Transactions, Identity, Education and Digital Banking.
To learn more about the ventures and groundbreaking technology spearheading this initiative please visit http://www.makecryptoeasy.io/ As blockchain technology and the verifiable distributed trust it confers continues to reshape the world of finance that directly impacts the fundamental ways we all transact online.
Addressing the Two Key issues of scalability and usability will remove the final friction points to widespread user adoption.
With the pace of progress being made by the ventures mentioned above as well as by other projects in the crypto space, 2020 is likely to be the tipping point for massive disruption and opportunity.
Thomas Carter, founder and CEO of DealBox, Inc; read about Thomas: “This FinTech Veteran Is Making Cryptocurrency Startup Funding Legitimate“; connect on LinkedIn and Instagram.
Contact: Shazir Mucklai
Imperium Group
Gorbyte, founded by Giuseppe Gori is one project in particular just coming out of stealth mode that has created an elegant solution to the problem of blockchain scalability.
George Gilder is a legend in tech and economic circles. His book Wealth and Poverty was the guiding light for Regan’s economic policies which ignited the rise of the Dow Jones Industrial Average from roughly 800 in 1979 to where it is today.
Gilder predicted much of the ubiquitous tech in use today years before it existed in his books: Microcosm, Telecosm, Life After Television, and The Silicon Eye.
Blockchain is different from the traditional internet in that it incorporates a shared data layer rather than data being siloed and monetized by companies like Facebook, Instagram, Reddit, etc.,
bybit lucky
Blockchain
Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin)
Blockchain technology continues to drive innovation across industries, reshaping finance, infrastructure, and philanthropy. Today’s news roundup explores exciting developments in blockchain ETFs, tokenization funding, quantum-resistant chips, public blockchain initiatives, and impactful social projects. Here’s a deep dive into the latest blockchain headlines:
BlackRock ETF Embraces Blockchain with First Muni Bond Purchase
BlackRock’s blockchain-focused ETF has made its first foray into municipal bonds, signaling increased confidence in integrating blockchain technology with traditional finance. The ETF’s strategic investment demonstrates how blockchain can enhance transparency and efficiency in bond markets.
By tokenizing municipal bonds, BlackRock aims to simplify trading and settlement processes while reducing associated costs. This development underscores the growing role of blockchain in transforming financial instruments and fostering greater market accessibility.
Source: Yahoo Finance
Plume Secures Funding for Tokenization Platform
Blockchain fintech company Plume has raised significant funding to advance its tokenization platform. The company’s innovative approach enables businesses to convert real-world assets into digital tokens, streamlining asset management and unlocking liquidity.
Tokenization is rapidly gaining traction as a game-changer in sectors such as real estate, art, and commodities. Plume’s success reflects a broader trend of investment in blockchain solutions that bridge the gap between traditional assets and decentralized technologies.
Source: Fortune
SEALSQ and Hedera Partner for Quantum-Resistant Blockchain Chips
SEALSQ and Hedera have announced a groundbreaking collaboration to develop quantum-resistant chips designed to secure blockchain infrastructure. These advanced chips will provide robust protection against future quantum computing threats, ensuring the integrity of blockchain networks.
As quantum computing capabilities evolve, safeguarding blockchain ecosystems becomes increasingly critical. This partnership highlights the importance of proactive measures in maintaining the resilience and trustworthiness of decentralized systems.
Source: The Quantum Insider
Deutsche Bank’s Public, Permissioned Blockchain Initiative
Deutsche Bank’s Layer 2 blockchain solution is set to go public and operate as a permissioned network, according to its tech partner. This initiative aims to strike a balance between accessibility and security, leveraging blockchain to streamline financial services and enhance operational efficiency.
The decision to adopt a public, permissioned model reflects a growing trend among enterprises seeking to harness the benefits of decentralization while maintaining control over sensitive data. Deutsche Bank’s approach could serve as a blueprint for other financial institutions exploring blockchain adoption.
Source: CoinDesk
KuCoin’s “Light Up Africa” Initiative Brings Hope to Thousands
Cryptocurrency exchange KuCoin has made a significant impact through its “Light Up Africa” donation ceremony in Ghana, benefiting 36,000 children across the continent. The initiative combines blockchain technology with philanthropy to address energy poverty and support education.
By leveraging blockchain for transparency in charitable contributions, KuCoin sets an example of how the crypto industry can drive meaningful social change. The project demonstrates the potential of blockchain to empower communities and foster sustainable development.
Source: PR Newswire
Industry Implications and Key Takeaways
Today’s developments highlight the transformative potential of blockchain across multiple domains:
- Integration with Traditional Finance: BlackRock’s ETF underscores the synergy between blockchain and established financial systems.
- Tokenization Trends: Plume’s funding success reflects the growing demand for digital asset solutions.
- Quantum-Resistant Technologies: SEALSQ and Hedera’s partnership addresses emerging cybersecurity challenges.
- Enterprise Blockchain Adoption: Deutsche Bank’s public, permissioned network showcases the adaptability of blockchain in financial services.
- Social Impact: KuCoin’s philanthropic efforts illustrate blockchain’s capacity to drive positive societal outcomes.
The post Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin) appeared first on News, Events, Advertising Options.
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