Chat about Blockchain, Its Impact and Future with David Moskowitz, CEO Attores
This week we’re having a chat about Blockchain, its impact and future with David, CEO Attores.Attores is a Smart Contracts as a Service & Digital Signing platform.
Let’s get started.
Hey David. Thanks a million for joining us. How are you today?
We’d love to know a bit about your background from you.
I first got interested in blockchain from the bitcoin market. In 2013, I had set up a brokerage in singapore to help people buy and sell bitcoin. I decided to sell that business in 2015, and began looking for an interesting project in the space.
Before the bitcoin business I was helping people set up subscription systems for their products and services online. I’ve always been interested in technology. From programming basic on a PET computer, and now being able to deploy smart contracts onto global computers, blockchains.
Great. So, mainly what got you interested in Blockchain / Ethereum?
When Bitcoin came around, I was primed for it- I had been thinking about the possibility of a mathematically controlled economy to replace the existing one of politics and endless money expansion. I also felt the need for a p2p payment system which allowed you to send money as easily as email or a photo.
When Ethereum was proposed, I saw it as a 10x improvement in the way scripts could be run on the network, allowing for value and code to run on the same system made perfect sense to me. The people writing the ethereum protocol seemed extremely intelligent and I therefore decided to participate in the initial crowdsale. This is the only altcoin crowdsale I had or have participated in.
That’s awesome. In which fields could blockchain have a major impact?
The low hanging fruit for blockchain will be in areas of silo’d information where it should be shared. Trade Finance is a good example as it is currently extremely paperwork heavy and paperwork is shared with multiple parties. Insurance is another area that is still heavily driven by paper, and external verification of data. The claims process for insurance can be fully digitized and workflows compressed using blockchain and smart contracts.
What are smart contracts? How are they beneficial and to whom?
A smart contract is computer code which executes functions of a contract. An example of this is a contract to swap digital gold for the cryptocurrency ether. A party creates and deploys the code onto a blockchain where the digital assets exist. The contract itself is an escrow, and will only swap the assets when both have been given over to the contract.
Once both assets are delivered, the contract will execute the swap and send the assets to the respective accounts. This all works with no central authority, nor clearing. Smart contracts can also be used to store data about transactions themselves. For example, when a user signs acceptance of a contract on the blockchain, that acceptance is recorded into the contract itself. There is really no limit on the potential use of this technology.
Quite interesting. How do you see this technology progressing in near future? And in the long term?
Although we are still in the early days of the technology there are already clear benefits emerging. Bitcoin proved that you can have a true peer to peer payment network, with no central authority, that is censorship resistant and private.
Ethereum expanded on this with a turing complete virtual machine allowing for digital assets, data, and other digital assets to interact and be traded freely.
Any other interesting facts / things you’d want to share with us?
Attores is using smart contracts and blockchain technology to allow the secure sharing of data and documents. We allow users to upload, sign, and share documents, using the cryptographic security of the blockchain to prove that these events happened.
In a later stage we will be adding in functions into the smart contract code to allow for the execution of other events contingent upon pre-agreed upon conditions of the documents.
That’s amazing, David. It was awesome to talk to you and learn from you about blockchain. Thank you so much for your time today. And all the best for future! :)