- The mind behind Ethereum, Vitalik Buterin, is matter-of-fact about the crypto.
- In short, he believes what interviewer Raval Navikant called “brain virus” is the true future of security and economics and, with the right incentives, Ethereum can replace things like credit card networks and even gaming servers.
- “Where Ethereum comes from is basically you take the idea of crypto economics and the kinds of economic incentives that keeps things like bitcoin going to create decentralized networks with memory for a whole bunch of applications,” he said.
- “A good blockchain application is something that needs decentralization and some kind of shared memory.”
- Buterin doesn’t think everything should run on the blockchain but many things can.
The mind behind Ethereum, Vitalik Buterin, is matter-of-fact about the crypto.
Continue reading “Ethereum will match Visa in scale in a ‘couple of years’ says founder”
- On Monday, the Enterprise Ethereum Alliance announced 86 new members that will work together to develop business applications on the Ethereum blockchain, including Toyota, Deloitte, Samsung SDS, and the National Bank of Canada.
- But while bitcoin has become a haven for speculators trying to win big by trading coins, Ethereum’s promise is that its blockchain—the public ledger that records all transactions—is chiefly a platform for developing apps, powered by economic incentives.
- Read More: The Bank of Canada Slipped the Konami Code Into a Bank Note Announcement
The alliance, which was founded in February of this year, is a global foundation with more than 100 members which include financial institutions like JP Morgan, Credit Suisse, and Banco Santander.
- The bank ran a pilot using an in-house digital currency to conduct interbank transactions on a blockchain in 2016, snubbing the existing bitcoin currency.
- Ethereum still might not be as valuable as bitcoin (one coin is worth over $2,000 USD at the moment, while one denomination of Ethereum, called ether, is worth $163), but it could be a whole lot more useful for banks.
Why not bitcoin?
Continue reading “The National Bank of Canada Just Joined An Alliance to Develop Ethereum”