Advanced Blockchain AG heads to North America
Ending one year in the East, beginning another in the West.
The new year began in the land where Bitcoin first took off. The Advanced Blockchain AG team held two events in the U.S and Canada, together with nakamo.to and the IOTA Evangelist Network (IEN).
Picking up where they left off in 2017, the events were organized with the goal of increasing overall awareness regarding Distributed Ledger Technology, alternatives to traditional blockchain systems, such as IOTA’s Tangle, and to introduce the world to Advanced Blockchain AG and nakamo.to and what the two companies have set out to achieve.
The first event took place in Montreal, Canada. The team set up shop at the Maison Notman House in Downtown Montreal and presented to a crowd of eager DLT enthusiasts, entrepreneurs, academics and investors.
First to speak was Kevin Chen from the IOTA Foundation. Kevin went beyond simply explaining what IOTA is and how it works. Instead he chose to analyse IOTA and the DLT movement from a more abstract perspective. He explained that the Industrial Revolution was not simply something that happened but is still ongoing today — and that the road towards a machine economy that we find ourselves on is merely an extrapolation of something that began many decades ago.
That brought Kevin to the question of where all of this is heading. He shed light on a world where the enterprises we trade and interact with are run by machines creating their own value and exchanging it for revenue, ultimately competing with human beings.
‘So what happens to us? I think that human beings will ultimately have more time to pursue their own higher purposes without having to focus their lives on putting food on the table — because that will be done by machines.’
In summary, Kevin pointed to IOTA as the technology that has the power to push the industrial revolution into its fourth phase and usher in the machine economy as described by IOTA.
Michael Geike picked up where Kevin left off by focusing on what the technological foundations we’ve built in the past will do for us in the future. We’ve come a long way — from steam power, to electricity, computers, and the internet. We now find ourselves knocking on the door of AI and DLT.
Michael explained how Distributed Ledger Technology is still finding its feet and how many of the projects, or even core technologies, we assume to represent the decentralization/crypto movement could well be pushed aside by better refined projects and technologies in the near future.
An example of this is the challenge IOTA’s Tangle Network is mounting on blockchain technology, improving on traditional blockchain systems in virtually every respect. Michael used this comparison to help demonstrate the potential of the peaq project. Built by the nakamo.to and Advanced Blockchain AG teams, the peaq project will harness the power of the Tangle to make token creation on this revolutionary technology a possibility.
‘By building on top of the Tangle, the tokens created on the (peaq) platform automatically inherit the same properties that the IOTA token has— no miners, no transaction fees and it scales.’
Michael emphasized just how big a step this is by delving into the world of possibilities the token creation platform will bring, explaining that ‘any idea, any asset you can think of will be able to be tokenized on the Tangle’. As the token economy begins to engulf the traditional economy, a framework like peaq could act as a portal to a better-connected, more efficient future.
A couple of days later Michael was presenting the peaq project to entirely different yet equally keen audience in New York City. He was joined by Paul Handy, an IOTA Core Developer, and Dana Farbo, COO and Advisor to Augmate.
Paul Handy was first speak. He went into depth on the Tangle Network, explaining how it works before going on to compare it to traditional blockchain systems. He focused the majority of his presentation on the different ways the two technologies validate transactions, and the problem transaction fees pose to the integration between DLT and the machine economy. He highlighted the fact that IOTA have developed a system that is not only more efficient in transaction validation, but does not charge fees.
This laid the groundwork for Michael’s peaq presentation as it gave the audience a good idea of just how cutting-edge Tangle technology is. After describing how the token creation framework will act as a portal into the token economies of the future, Michael went on to speak about Advanced Blockchain AG’s business model.
‘Advanced Blockchain AG focuses on analyzing the way companies work, understanding how they can take advantage of Distributed Ledger Technology and then designing, developing and implementing the DLT software that best suits the needs of our clients.’
Michael likened the rise of DLT to that of the internet in the 1990s, comparing Bitcoin to email, calling it an important step but by no means the focal point of the movement. He went on to say that Advanced Blockchain AG is set on laying the foundational layers for the projects of tomorrow’s world — a world connected by DLT.