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Blockchain Infrastructure Thesis 2.0 — From a Corporate to a Micro Crypto “Hedge Fund”

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Table of Contents:

  1. Introduction: (Generalized) Mining as a Corporate
  2. Infrastructure Provider Perspective & Incentives
  3. Investor Perspective & Proof-of-Stake
  4. Network Perspective & Enterprise Right-to-Play
  5. So… why T-Systems and telcos again?
  6. Summary & Outlook

1. Introduction: (Generalized) Mining as a Corporate

In July 2020, our team at T-Systems MMS, subsidiary of Deutsche Telekom (Europe’s largest telco, parent of T-Mobile) has started providing an IT service to a public blockchain network. Despite IT service provisioning being pretty much our daily business, this time it is slightly different. There is no direct customer per se, as well as our revenue takes the form of a crypto-asset. In a specific case of Chainlink, $LINK token this is paid to us for providing real-world data like asset prices, making it available for various decentralized applications built on top of Ethereum, mostly in the area of Decentralized Finance (DeFi).

Intro to Blockchain Infrastructure

The term infrastructure is perhaps even more abstract and high-level than the term blockchain itself. For one to give an elevator pitch for this and convince a large entity to look into generalized mining opportunities is not an easy task, as, not surprisingly, I have found out multiple times. It helps to break down the concept by looking at it from different perspectives, of which there are three main ones — infrastructure/tech, financial/economical and a business/strategic. I will cover these one-by-one below.

2. Infrastructure Provider Perspective & Incentives

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  • Ethereum — to create a Turing-complete Virtual Machine (EVM) which allows to run immutable, censorship-resistant applications on top of it to allow for composable and open innovation in e.g. finance and economic coordination among others.
  • Chainlink — to bring real world data on-chain in an (economically) secure way
  • ..the list of protocols, L2 and dapps with their own tokenomics can go on and on.
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3. Investor Perspective & Proof-of-Stake

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4. Network Perspective — Role of enterprises in Web3 infrastructure provisioning

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DeFi, Staking-aaS… and also food, just in form of coins

5. So… why T-Systems and telcos again?

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From telephony to Web3 network infrastructure. (Source: Archillect)
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6. Summary & Outlook

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Banks gonna become way smaller and software-first. (Source: Archillect)
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TLDR put very eloquently

About the author

Gleb Dudka is an analyst and Staking-aaS product owner at Blockchain Solutions Center of T-Systems (Deutsche Telekom, Europe’s largest telco). Here I focus on blockchain infrastructure provisioning and bootstrapping public blockchain networks as the first enterprise player in this space (offering Staking-as-a-Service, operating validators and engaging in Generalized Mining on public Proof-of-Stake networks). “The guy who brought crypto-assets to Deutsche Telekom” according to our treasury.

6. Sources

Here are some resources about generalized mining and Web3 infrastructure provisioning for anyone willing to go deeper into the rabbit hole:

Written by

Blockchain Analyst & Researcher | Staking and Generalized Mining | Infrastructure Provision | Cryptoeconomics: @TSystems_MMS, @StakingRewards, ex @Astratum_

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