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Blockchain only begins in Fin-Tech; it’s for all industries to act on

Prerana Sarkar

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Blockchain only begins in Fin-Tech; it’s for all industries to act on
Source: Pixabay

On June 8th, Daniel Larimer, the Chief Technology Officer for EOS, the most powerful infrastructure for decentralized applications, confirms that Blockchain is for all multi-user systems and all other industries.

He talks about the benefits of the blockchain technology that revolve around the removal of security issues from a centralized system, allowing its users to control their identity. Users can also control their private keys.

Whether it’s voting or social media, the future holds a more “password-less” society. EOS focuses on building a more secure ecosystem where users can trust the people they are communicating with. Bart Wyatt who focuses on Engineering and Development is also a part of the EOS community and has plans on getting out there to figure out the actual potential of their blockchain model.

Serg Metelin, Developing Relation Officer states:

“Blockchains will change everything. Agricultural industries, Governance, Science, Medical, Insurance and all of the industries that have a middleman as a part of the business process can be disrupted by the blockchains.”

The main aim of a blockchain is for industries and communities to organize around an open-sourced software that allows them to create a community-driven business model that can eventually compete with larger financially centralized tech companies today.

So, blockchains are definitely not limited to only fin-tech as it is creating a massive structural revolution worldwide. The EOS Hackathon is scheduled to be held this weekend in Hong Kong which will focus more on the developing technology behind blockchains in this crypto network.

User Jonny Adams on Twitter said:

“Blockchain has the potential to change the world. I am waiting for the day where technologies have been developed to cure privacy issues and build better networking models to help in the growth of businesses!!”





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Prerana Sarkar is a part of AMBCrypto's News Reporting Team from January 2018. She is a Journalism major from Mount Carmel with two years of writing experience in Bitcoin and Blockchain related articles. Prerana does not hold any value in cryptocurrency or its projects

Altcoins

Cardano’s focus is on staying loyal to ecosystem’s scalability & interoperability, says Charles Hoskinson

Arijit Sarkar

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Charles Hoskinson shares Cardano's vision to enable scalable and interoperable crypto ecosystem
Source: United States Air Force

As numerous developments continue to change the face of the cryptocurrency space, IOHK’s CEO Charles Hoskinson shared Cardano’s latest innovations in its ecosystem through another one of his AMA sessions. While the entrepreneur expanded on the expected launch of its Haskell and RUST testnets, the AMA was also focused on sharing his aggressive plan to enable Cardano’s smart contracting.

Hoskinson attributed the vision’s ultimate success to three main factors, which include ability to train new developers, the model itself and Cardano’s ability to interface with the broader functional programming community. He supported this idea by saying,

“This is a huge untapped community full of credentialed and qualified programmers. By interfacing our foundation with that community, we should be able to see a lot of really interesting DApps produced for Cardano rather quickly.”

Comparing Cardano’s credibility to the infamous JAVA platform, Hoskinson claims to have made 20 reiterations of the project “because programming language theorists are perfectionists and they really want to get this done right.”

While the Cardano team continues to work towards the deployment of Shelley and Marlowe on the testnet, Hoskinson also hinted at some incremental upgrades that will be expanded upon in the next AMA, as well as on the company’s official website. Out of the many iterations, Cardano’s primary focus will be to stay loyal to the ecosystem’s scalability and interoperability across other crypto-based ecosystems.

Hoskinson also mentioned that his past contributions to Ethereum helped his team explore the design space of the code, which ultimately helped them develop a seamless ecosystem focused on user experience and ease of use. He added,

“People want to keep regulators happy. That said, we will also begin exploring some privacy ideas and how we can also increase privacy on these transactions.”

In addition to backend development, it is also important to note that Cardano’s [ADA] crypto-adoption has allowed it to dethrone Tron [TRX] from the 11th position, with respect to market cap.





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