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 if you like what you’ve heard: share this podcast, like it in your podcast app or support me by going to www.patreon.com/wimpelgrim
This week my personal experience with TRON and GoSeedIT, an elegant Twitter application, a lot about Vitalik Buterin: his keynote at the Ethereum Summit and an interview about the future of Ethereum and big ecommerce company JD.com going about the same path as Amazon.
The article to read and the video to watch this week are about Vitalik Buterin. The CEO of Ethereum is speaking out about the state of blockchain. In an interesting article on Forbes by Rachel Wolfson. Two quotes from the interview: “The amount of sustainable usage of blockchain is very low. Although it exists, there are a lot of people giving value to cryptocurrencies, yet the amount of useful stuff happening is still much lower than the $200 billion market cap makes it seem.” Couldn’t agree more. I didn’t own any cryptocurrencies until last week and the amount crappy products and money being poured into them is huge. And crypto’s could be nearing their end according to Buterin: “I am seriously looking forward to when the cryptocurrency community basically passes away with proof-of-work” he told the interviewer after a discussion about proof-of-stake, that the Ethereum community is working on.
The video of Butering to see is his keynote at Ethereum Meetup 2018. There he goes into the transaction fee and social cost in blockchains. He uses scientific research, great examples and he explains everything in easy enough terms for anyone with basic technological knowledge can follow. At about twothird of the speech, the possible mechanisms get quite abstract. And important to notice: the problems Buterin is talking about is exclusively for a public permissionless blockchains. The speech shows the brilliance of this man: he has an abstract and concrete view on blockchain at the same time and has the personality and the communicative skills to get his view across: wow.
Not anyone knows JD.com, because it is a Chinese website and I even can’t go to it from my laptop at this moment. It’s an e-commerce company like better known Alibabba or Bol.com in the Netherlands or Amazon in the US. The company revealed a blockchain open platform last week. Enterprise clients can speed up processes like tracking goods and charity donations, property assessment, authenticity verification, digital copyrights etcetera. All the things you hear about blockchain solutions all the time. But in this open platform, customers can develop, host and apply their own blockchain apps. And external vendors will have access too. So it seems JD is going about the same route as Amazon, becoming a cloud company besides an e-commerce company. And becoming more of a enabler for others, than actually being in the business of shipping boxes.
Governments and law
Last week I got acquainted with a new application in an interesting way. On Twitter I got a message including GoSeedit, myself and +1. What the heck was this? I received a tip for my podcast in the form of two $TRX. It seems there is a first, great application for the TRON-network: GoSeedIt. It is a multi platform payment system, now available on Twitter and Telegram. You can send someone $TRX easily by referring to them, GoSeedIt and the amount you want to transfer. A wallet is created instantaneously and linked to your social media account. This way, you can login to your wallet easily. It is a great application to support the social media accounts you like. The transaction fee is a quarter of a $TRX and that’s the business model for GoSeedIt.
And owning my first cryptocurrency on the TRON-network made me wonder about this new mainnet. I saw a lot about it in the past few months, because I follow Justin Sun, the founder of TRON. He’s just as interesting as Vitalik Buterin: went from China to Pennsylvania for his master’s degree, former chief representative of Ripple in China and mentioned on several Forbes and World Economic Forum lists of influential people. And the TRON-network seems special in some ways. TRON started as ERC-20 on the Ethereum Network, built an independent blockchain and on “Independence Day” back in June, the network was launched. And they are not the only network with an independent mainnet: I talked about EOS in an earlier podcast.
Like IOTA uses Tangle and Ethereum is concentrating on smart contracts, TRON is fast. It can handle 2000 transactions every second, 24/7. That’s a lot more then Ethereum (25 a second). TRON wants to construct a worldwide free content entertainment system: you can freely publish, store and own data and decide about distribution, subscription and push of contents, according to the whitepaper. A clear focus.
I wonder where TRON and other permissionless public blockchains will be in a few years, but the ecosystem of TRON with about 100 people working on it, seems a good basis for the future.
Oh my god!
Two new patents by Microsoft, US National Insurance Advisory introduces a Hyperledger Fabric reporting tool, Porn website Tube8 is going to use blockchain to reward views on their site, UEFA super cup ticket are successfully distributed via blockchain mobile ticketing, Volareo introduces an open source blockchain smart speaker (Dutch article) and you could check out Everypedia, the blockchain alternative for Wikipedia (Dutch article).
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: Vitalik Buterin, JD.com, GoSeedit and TRON. And I hope to see you next week for my next episode. And if you like what you’ve heard, share this podcast with your friends and on social media and click those five stars in your podcast app.
AAIS introduces reporting tool
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