Blockchain Talks #12 - EVENT RECAP
By Milan Ilchev
For the people moving up and down the busy streets of Amsterdam it was just an ordinary Thursday. However, for the growing number of tech enthusiasts seeking information about blockchain initiatives, DLT (distributed ledger technology), and cryptocurrencies it was time for another Meetup.
That is right, on the 11th of October at Meet Berlage (Amsterdam), Blockchain Talks (“BCT”) was again sold out for its 12th edition. It was a busy evening with 3 main parts, a networking round, and an unexpected surprise. Let us not waste any more time and dive into the highlights of our last BCT Meetup.
The stage was first given to Bas Wisselink, co-founder and trainer at Blockchain Workspace. He took this opportunity to share his views and ideas on how people should approach blockchain projects. Bas noted the importance of setting up clear goals and the need for functional systems targeting specific problems. Indeed, as Bas stated, it is time to make blockchain useful.
In reality, it seems this is easier said than done. During the last year, we all witnessed how the bullish market of cryptos paved the way for a number of scam projects and badly planned initiatives. This pushed the general public to raise its understanding of the technology. In order to stay competitive new blockchain projects began to expand their effective scope. Thus, today the digital ecosystem is oversaturated with a number of tech solution promising great things. In simple words, the threshold for developers now is a bit higher than what it used to be.
The sustainable driven lecture of Bas stressed the need for redefining what projects should avoid and aim for, in order to move forward. The “feature creep problem”, wrong incentive schemes (allowing speculation with tokens) and badly instituted governance mechanisms (halting decentralization) are some of the main issues that should be addressed.
This view resonated with the audience and triggered a healthy discussion. Following which Bas shared his three main recommendations: 1) “Blockchains which jettison core design principles are useless at best, fraudulent at worst.”; 2) “Clear insight of the underlying issue, not naive assumptions about the problem which seems interesting.”; 3) “Blockchain projects cannot assume that because Bitcoin works, this automatically means they will work.” This closing statement was met with a wave of applause, it was clear that Bas got his message across.
The second person to take over the stage was Chris Dawe, CEO at Effect.AI. For those who do not know, Effect Force is a Dutch-based A.I. project decentralizing the employer-employee relationship and fine-tuning AI algorithms using human input. Chris and his team found a way of making a platform facilitating a global workforce with no direct intermediaries. Those who find the idea interesting should definitely check their website, it is just one click away.
During his talk, Chris shared about the problems his team faced and how their vision came to reality. This aside, it was not a coincidence that Chris joined the 12th edition of BCT. On the 11th of October, Effect Force launched its first product. In addition, some “easter eggs” were dropped, however, if you dear reader were not able to join us last Thursday you will need to wait till the 29th of November. On that day, the full platform of Effect force shall be launched.
Another announcement was made by Eleonore Blanc from btc.com — it was about upcoming #BCHDEVCON — Bitcoin Cash Hackathon. Find more info here, it’s only a week left.
These announcements energized the audience and ignited the curiosity of several people, who did not waste time to raise their questions. It was great to see what happens when blockchain projects are done right.
Earlier a short reference was made about an unexpected surprise. It is time to share with you what it was all about. Just before the networking round, our hosts announced that they are adding a new item to the agenda of future BCT editions. The code name for that new item is KYA or “Know Your Audience”. During that time slot, everyone shall have the opportunity to get on stage and share their project. It seems now everyone can be part of the show. It goes without saying that people did make use of this opportunity.
After the last person, who wanted to take the stage was done, the event continued with a networking round, called #beer2beer session. Despite the fact that there were quite some new faces, people were interacting with ease as always. The abundance of different professional backgrounds led to insightful discussions. The most recurring topic was related to the final event of the night — the battle of permissioned vs permissionless blockchain(s).
The debate between permissioned blockchains (“PBC”) vs permissionless blockchains (“PSBC”) is not a new topic for those who have been engaged in the crypto field prior to 2018. In its essence PBC act as closed (private) ecosystems, where users are not freely able to join the network, see the recorded history, or issue transactions of their own. Permissioned blockchains operate on the basis of delegated rights and segmentation. Mostly they are preferred by centralized organizations (e.g. corporations). As an already functioning example of a PBC one can point to the collaboration between the Linux Foundation and IBM which resulted in Hyperledger.
In contrast, PSBC or public blockchains allow every user to interact with the network without prior authorization or restrictions. Additionally, all parties have the opportunity of running a node or employ mining protocols to help verify transactions. One of the most widespread public PSBS is the Etheriumecosystem.
Prefer watching the battle? Check out the recordings from the livestream.
https://www.youtube.com/watch?v=ZN28K_JtVjc&t=130s
On the 11th of October, BCT hosted two well-known Dutch-based blockchain professionals which were ready to flex their knowledge in order to prove to the crowd which type of system is more advantageous. Defending PBC and sharing his views on the corporate integration of blockchain systems was Frans Kempen, Blockchain Lead for Logistics & Supply Chain Industry at IBM. On the opposing side, elaborating on the benefits of PSBC and the risks of utilizing permissioned ecosystems (e.g. “Oracle problem”), was Justin Bons — cofounder and investment strategist at Cyber Capital.
The debate started with Frans making an introductory statement stressing on the need for tech solutions to meet the requirements of businesses. He supported his claim with the use case and benefits of Hyperledger in the automotive, food and mining industries. This platform allows cheap transactions, provided that the nodes are privately owned and do not require public mining to keep the operation going. Immediate finality, privacy, and enforceability of smart contract are additional benefits which are offered by PBC systems.
This statement was met, with an immediate response made by Justin. He agreed that PBC does allow for low-cost transactions, however, they are more expensive to set-up. In addition, they are more vulnerable provided that the system points which can be targeted for an attack are not dispersed as in the case of PSBC. In addition, transparency (on PBC) cannot be guaranteed in the same manner as it is currently available in PSBC projects.
It is true that both approaches have their strengths and weaknesses. This being said, both Frans and Justin agreed that the main question which should be asked is not which type of blockchain is better. Rather developers should look at the objective and needs it needs to meet.
This battle of minds was probably the best way for the main program of the 12th edition of BCT to be closed. After all, “for good ideas and true innovation, you need human interaction, conflict, argument, debate”.
The main part of the BCT was over, but following a long tradition of Beer2Beer follow-ups, the participants of this Meetup decided to continue their passionate discussions. In retrospect, the more informal environment, the attention for detail on behalf of our hosts and the presence of people with diverse experience shaped this BCT Meetup as an outstanding experience. Do not waste time, secure your ticket and become part of the Blockchain Talks society. It is just a click away
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