Last week in blockchain – 2018, week 21

Welcome to Last week in blockchain. My name is Wim Pelgrim, a blockchain enthusiast and with this weekly podcast you’ll stay up to speed about all the major developments on the blockchain. And that in under 10 minutes!

For anyone Dutch listening to this podcast: on Blocker.nl my Dutch version of this podcast is published weekly. Check www.blocker.nl.

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This week I’ll be discussing China’s blockchain list, energy consumption, Liquidity.Network, Blocklet, Civic, Concensus and the 30+ examples, best crypto country and the Dutch book by Herbert Blankesteijn

Technology

In my last podcast, I spoke about China’s plans to rank the 28 largest blockchain projects out there, and not knowing what they were. This week, it became very clear: China published the list. Faster than I expected, we know what the best blockchain project is: Ethereum. Steem, Lisk and NEO follow the number one, and Bitcoin is left only at number 13. And that is mainly because Bitcoin is losing points on technology (other parts of the evaluation are application and innovation). And I’m not all that surprised: the Bitcoin Network supposedly uses as much energy as the country of Ireland! And there are some ifs and buts to this research, but that Proof-of-work isn’t the most economical consensus algorithm is obvious. But looking at this and other projects, Bitcoin is like the T Ford: it used 11-18 liters of gasoline per 100 kilometres for a top speed of 72 km an hour, so innovations had to be made. And that’s what is happening now with the 9 year old Bitcoin. But back to the list of China: it’ll be coming out monthly. We’ll see how several projects are developing over time.

One innovations everyone has been looking for is solving the scalability problem of blockchains. Vitalik Buterin, founder of Ethereum, became enthusiastic about Liquidity.Network last week. It’s a solution for making fast and efficient cryptocurrency payments, which now cost more time than old school Visa or Mastercard payments, because networks like Ethereum can only run dozens of transactions a minute in stead of thousands.

An other technological advancement is the plug-and-play device Filament presented last week: Blocklet USB. It’s a device designed to connect ‘old’ devices to the distributed ledgers and making them more valuable and longer lasting that way. Filament also has software and a computer chip to build into devices to do the same thing. I hope the security of “IoT’ing” old devices is good, but it’s nice idea.

Application

After the announcement by Foxconn (podcast #10), HTC announced a blockchain smartphone too. Based on android, being a cold wallet and being a node in a transaction network with the other HTC Exodus phones. You can find some production drawings online.

And the blockchain has made it to the beer vending machine at the big New York City conference about the blockchain, Concensus. Civic was presented at Concensus 2017, and is in action this year. People interested in a beer, scan a QR code with the Civic app and it verifies if the person is over 21 (the legal age to drink in the United States). It is a nice blockchain application: saving all your personal information on your own phone and making it easy for anyone sharing the information without typing or people checking it all the time. Just one problem. If I am 25 and lend my phone to my 17 year old brother or sister, and he or she uses my phone to scan the QR-code?

And talking about Concensus, you can find a lot of information online about this beautiful conference. You can even find all day registrations of over 9 hours on Youtube. But wat was the common thread of the conference? Real plans and deadlines. Just like we saw at the Blockchain Conference in Utrecht I announced (podcast #14). “We are now starting to see at Consensus, examples of where financial services are taking this technology into production with real timelines that they have committed to,” Chris Church, the head of business development at Digital Asset, said. The blockchain is maturing at this moment, we’re seeing puberty! And if you want more, check out the Concensus info online, or check the article on Forbes with 30+ examples of blockchain in practice.

Other news

According to a study performed for BlockShow Europe 2018, I have to move to Switzerland. The country ranked number 1 in the list of countries to start a blockchain company. My major issue with this study: it focusses entirely on crypto, not blockchain or distributed ledger technology as a whole. But I’ll stay happy with living in the number 8 country out of 48.

The last news this week: another book. I used to watch Herbert Blankensteijn in the 90’s when he explained how Pentium III pc’s worked for Dutch educational tv station Teleac. And now he wrote a book about the blockchain! For anyone Dutch: this will be the simple step for the starting blockchain enthusiast. I’ll be buying it soon.

And that wraps up this Last week in blockchain. Check my website: www.wimpelgrim.nl for more info on me and my podcast and a full transcript of this episode. Check the links to all the news items I talked about in the description: China’s blockchain list, energy consumption, Liquidity.Network, Blocklet, Civic, Concensus and the 30+ examples, best crypto country and the Dutch book by Herbert Blankesteijn. And definitely check back next week for my new podcast on Soundcloud and in Dutch on Blocker.nl!

 

Sources

China’s blockchain list
https://www.ccn.com/china-ranks-ethereum-as-the-worlds-best-blockchain-network-bitcoin-at-13/

Bitcoin energy consumption
https://www.cell.com/joule/fulltext/S2542-4351(18)30177-6

Liquidity.Network
https://www.forbes.com/sites/andrewrossow/2018/05/14/ethereums-founder-acknowledges-promising-solution-to-blockchains-scalability-problem/#739da1e43af8

Blocklet
https://www.techzine.nl/nieuws/404436/start-up-filament-komt-met-usb-apparaat-voor-blockchain-verbindingen.html

Civic
https://www.forbes.com/sites/tobyshapshak/2018/05/15/now-you-can-buy-beer-from-an-age-verifying-blockchain-vending-machine/

Concencus
https://www.coindesk.com/capital-markets-blockchains-finally-getting-go-live-dates/

Forbes on 30 examples
https://www.forbes.com/sites/bernardmarr/2018/05/14/30-real-examples-of-blockchain-technology-in-practice/

Best country in crypto
https://cointelegraph.com/news/switzerland-first-in-ranking-of-top-10-most-blockchain-friendly-countries-in-europe

Herbert Blankesteijns book
https://www.dekler.nl/nl/boek/?authorTitle=herbert-blankesteijn/bitcoin-blockchain–9789075458930/

 

 

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