Enterprise Ethereum Alliance Unveils Token-Enabled Blockchain in Action at Devcon 5
October 8, 2019
The Enterprise Ethereum Alliance (EEA) today announced the organization will demonstrate how EEA standards are contributing to drive the token-based blockchain economy at the Ethereum Foundation’s conference, Devcon 5, October 8-11, 2019, in Osaka, Japan.
October 8, 2019
New EEA Specifications, Demonstrations, and Mainnet Initiative Highlight Maturation of Real Deployments of Enterprise Ethereum Applications
OSAKA, JAPAN [Devcon 5: EEA Table 14] — Oct. 8, 2019 — The Enterprise Ethereum Alliance (EEA) today announced the organization will demonstrate how EEA standards are contributing to drive the token-based blockchain economy at the Ethereum Foundation’s conference, Devcon 5, October 8-11, 2019, in Osaka, Japan. The EEA will lead several sessions, including a co-hosted Open Forum with the Ethereum Community and its first EEA Mainnet Initiative meeting, to discuss the commercial market requirements needed for businesses to deliver services on the Ethereum mainnet.
The EEA also published new versions of its specifications; documents available for free, public download on the EEA website at https://entethalliance.org/technical-documents/:
- The EEA Enterprise Ethereum Client Specification V4 further optimizes privacy and permissioning based on the implementation experiences of contributing members.
- The EEA Off-Chain Trusted Compute Specification V1.1 adds improvements derived from its open-source reference implementation of the standard. Read EEA member blogs on this specification from iExec and Intel.
“2019 has been a year of growing market acceptance, and at Devcon 5 will be where attendees will experience how Ethereum – enabled by EEA member-driven standards – delivers real-world value through tokenized enterprise solutions,” said EEA Executive Director Ron Resnick. “Join us at our co-hosted Open Forum with the Ethereum community and our Mainnet Working Group meeting to define the building blocks needed to drive the ecosystem forward.”
Attend the First of its Kind Reward Token Trusted Compute Workshop
Learn how the first EEA standards-based trusted compute system with trusted reward tokens (reputation, reward, and penalty) offers a unique look at how to incentivize membership participation within an organization. Developed by the EEA Trusted Execution Task Force — ConsenSys Solutions, PegaSys, and Kaleido; Envision Blockchain; iExec; Intel; and Microsoft, the system and interactive workshop enables attendees to:
- Learn how the development of multi-vendor applications benefit from EEA standards, Token Taxonomy Framework definitions, and Open Ethereum (ERC) and W3C web standards
- Experiment with roles: within a consortium, as an enterprise, and as an enterprise employee
- Utilize self-sovereign identity and credentials as an enterprise; earn, share, and redeem token-based rewards; and earn a tokenized reputation
Attend the Open Forum with the Ethereum Community: Ethereum Roadmap 2020
Co-Hosted by the EEA, Ethereum Magicians and Cat Herders
All attendees are invited to the Devcon 5 Open Forum to discuss ways the EEA and Ethereum community can foster collaboration, strengthen relationships, and build a bridge for future communications. EEA Executive Director Ron Resnick and EEA Director of Community Paul DiMarzio will represent the EEA in this interactive discussion focused on advancing best practices for using the Ethereum mainnet to build commercially viable business applications.
Attend the EEA Mainnet Working Group Overview Meetup
Join the EEA for an interactive discussion around the new Mainnet Working Group initiative. Co-Chaired by John Wolpert, ConsenSys Senior Product Executive, the Mainnet Working Group will look to harmonize the way industries and ecosystems work on the blockchain. RSVP for the first EEA Mainnet Working Group call, October 22, 2019, open to EEA members and non-members.
Meet with EEA at its Devcon 5 Table 14
EEA Executive Director Ron Resnick and EEA Director of Community Paul DiMarzio will be available to discuss the EEA’s strategy, vision, and specification roadmap. Devcon 5 attendees, EEA members, developers, and enterprise leaders are invited to network with the EEA at our stand on Tuesday and Wednesday, and throughout the conference.
EEA Member Supporting Quotes:
EEA Director of Community Paul DiMarzio
- “I’m excited to have this opportunity to meet with Devcon attendees and discuss how everyone in the broader Ethereum community can get involved in the evolution of our technical work. I encourage all Ethereum developers to come to the workshop and open forum to engage with us and discuss how EEA specifications can help drive overall Ethereum adoption,” said DiMarzio. “Ron and I will be on hand for interactive discussions covering the most current Enterprise Ethereum advances, coming innovations, and real-world use cases.”
Chair of the EEA Trusted Execution Task Force Jean-Charles Cabelguen, iExec
- “We have been able to leverage the skills of companies and startups from all over the world to build up a trusted compute specification answering to enterprise-level requirements. Our Trusted Reward Token demonstration to be unveiled at our Devcon 5 workshop illustrates how EEA standards can be articulated to sustain concrete projects,” said Jean-Charles Cabelguen, chair of the EEA Trusted Execution Task Force and iExec chief of Innovation and Adoption. “I would like to thank Banco Santander, Chainlink, ConsenSys, Intel, Microsoft, and all the EEA members that provided contributions to the Off-Chain Trusted Compute specification as well as those that help drive the trusted reward-token workshop.”
- Read EEA Member iExec’s blog post on the specification.
EEA Founding Board Member Tom Willis, Intel
- Intel is a contributor to the EEA Off-Chain Trusted Compute Specification and participant in the workshop demo. “We believe Trusted Execution Environments like Intel® SGX can help software developers build better multi-party compute solutions that protect data everywhere,” said Tom Willis, EEA founding board member, and a director at Intel’s Open Source Technology Center. “Intel is committed to helping solve the privacy and security challenges that will further enable blockchain adoption.”
- Read EEA Member Intel’s blog post on the workshop.
EEA Trusted Execution Task Force Member Dr. Andreas Freund, ConsenSys
- “The work on the EEA Trusted Reward Token workshop initiative was especially exciting and gratifying because it not only demonstrated that seven very different EEA members can successfully collaborate to combine emerging technologies in novel ways that enable new economic benefits for enterprises, but also that the EEA is maturing as an organization with a focus on co-creating real-world Ethereum based applications that deliver not only value to its members but also to the larger Ethereum ecosystem,” said EEA member Dr. Andreas Freund, Blockchain Swiss Army Knife, ConsenSys .
EEA Board Member Joseph Lubin, Co-founder of Ethereum, and Founder of ConsenSys
- “In the past year, we have seen a significant acceleration in interest and adoption of Ethereum technology by enterprises. Major players, from big four consulting firms to major financial services companies have not only begun using public Ethereum but also are building infrastructure more tailored to enterprise uses-cases on the Ethereum mainnet. As stewards of the standards and growth of Ethereum, it has been a positive development to see the Ethereum Foundation and the Enterprise Ethereum Alliance continue to strengthen their collaboration at DevCon 5 and beyond. Both organizations are committed to evolving the technology so that it serves mainstream enterprise and government as well as the next generation Web 3.0-based decentralized digital economy,” said Joseph Lubin, EEA Board member, co-founder of Ethereum, and founder of ConsenSys.
EEA Board Member Aya Miyaguchi, Ethereum Foundation
- “This is an exciting time,” said Ethereum Foundation Executive Director and EEA Board Member Aya Miyaguchi. “As blockchain adoption accelerates, it’s important that the Ethereum Foundation work to connect businesses with the latest research and development coming from our worldwide community, and that we convey our challenges and experiences while better understanding those impacting industries. I hope that this common understanding and cooperation will bring Ethereum technology more broadly and effectively to the world.”
EEA Board Member Marley Gray, Token Taxonomy Initiative Chair, and Microsoft Principal Architect
- “The rapid acceleration of technology innovation around tokenization and the Ethereum mainnet is changing how consumer-facing industries will deliver value through peer-to-peer transactions and services. The EEA brings together a standards-based approach for tokenization and off-chain compute to define the building blocks needed to drive global interoperability,” said Marley Gray, EEA board member, Token Taxonomy Initiative chair, and principal architect, Microsoft.
EEA Associate Member Brian Behlendorf, Executive Director, Hyperledger
- “We are thrilled to see the evolution of the EEA and Hyperledger collaboration around the EEA’s Trusted Execution Task Force. Not only is the prototype implementation of those proposed standards being built within Hyperledger Lab, but the Devcon 5 EEA Reward Token Trusted Compute demo leverages Hyperledger Besu – the first Ethereum public blockchain on Hyperledger and one that conforms to EEA’s Client Specification. We expect developers building Enterprise Ethereum-related technologies to be motivated to submit projects to Hyperledger, and we hope that project maintainers will consider taking de-facto interfaces that are suitable for standardization to the appropriate Special Interest Group at the EEA,” said Brian Behlendorf, executive director, Hyperledger, an EEA Associate Member.
*Note to Editors:
EEA Rewards Token-based Trusted Compute Workshop Demo Contributors
The EEA rewards token trusted compute application runs in Besu, an EEA standards-based and Hyperledger-based enterprise Ethereum client, and connects to a Trusted Compute pool which conforms to the EEA Off-Chain Trusted Compute Specification. Kaleido is used to set up the blockchain network for this application and managing the Besu nodes on Microsoft Azure. The Trusted Compute pool is hosted on the Microsoft Azure cloud utilizing Intel® Software Guard Extensions (Intel® SGX). Envision Blockchain built the application administration front-end and back-end, iExec implemented the off-chain token execution logic and deployed the Trusted Compute pool while ConsenSys built the Smart Contract infrastructure for tokens and identity.
About the EEA
The Enterprise Ethereum Alliance (EEA) is a member-driven standards organization whose charter is to develop open blockchain specifications that drive harmonization and interoperability for businesses and consumers worldwide. Our global community of members is made up of leaders, adopters, innovators, developers, and businesses who collaborate to create an open, decentralized web for the benefit of everyone. To join the EEA, please reach out to [email protected].
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Industry investment firm Blockchain Capital joins the Libra Association
Blockchain Capital has joined the Libra Association as its twenty-seventh member.
The post Industry investment firm Blockchain Capital joins the Libra Association appeared first on The Block.
Why We Get Obsessed With Bitcoin
Bitcoin can be addictive—but what sparks that initial obsession? Here’s why people become Bitcoiners, from the minds of those most hooked.
You’ve probably seen the comic posted in one of the many online crypto communities; an adaptation of a popular Reddit meme. A jolly little character offers up two games, one adventurous, the other challenging.
His friend asks about a third option.
“When you play that game,” the first little guy replies, “days will blur together. Regular meals are a thing of the past. Friends will become concerned. And the whole time you’ll be unsure if you’re even having fun.”
That third game is, of course, Bitcoin.
That comic is familiar to those of us in the crypto industry. From traders staying up until the early hours, to crypto journalists working day and night to cover the fast-growing space, we all relate to it and that’s why it makes us laugh.
But what is it about Bitcoin that initially grabs us and sends us down the rabbit hole? Why do these lines of code reach out of the computer screen, grab our imaginations and pull us in?
During four interviews, with diehard Bitcoiners, Decrypt identified some common traits: a dislike for authority, with a political stance that leans towards libertarianism. But while they revel in Bitcoin’s attributes as a hedge against inflation, or its security, it wasn’t those factors that initially drew them in. Rather, it was the moment they first used Bitcoin or were able to visualise it, that flicked a subliminal switch. So, while the current narratives are important, what gets us obsessed with Bitcoin is something a little more intimate.
“A weapon for peace”
On a day in September 2015, David Bennett, senior administrator at the Texas Tech University, felt confined.
He was at work in his cubicle, lit by a lamp instead of the overhead fluorescent lights that were never turned on. The office was so buried in the middle of the gray, chunky concrete building that was the university’s library, he couldn’t even hear it when it rained—an event that, in the southern end of the High Plains desert landscape, would typically bring everyone running to the windows.
Bennett looked at his monitor. He was just about to send 0.2 Bitcoin, worth $80, from his Coinbase account to Jack Spirko of the Survival Podcast, so he could become a member. He had heard about Bitcoin online a few years ago, but it was only from listening to these podcasts that he was starting to learn more. He popped in Spirko’s address and hit send.
It quickly dawned on him that there were so many things he hadn’t done. He hadn’t put in his bank account details, his home address, his telephone number. He hadn’t authorised someone to take payments from his account. There would be no phoning the bank up to complain that further scam payments had been taken from his account. That was it, done.
He felt liberated.
“That started the whole trip down the rabbit hole,” he told Decrypt. “I sat back. I didn’t say anything then, but later told my co-workers about Bitcoin.”
Bennett soon became a regular listener of Bitcoin educator Andreas Antonopoulos as well as Trace Mayer’s weekly Bitcoin Knowledge podcast. Finding himself ill-content with just one podcast episode every week, he set up his own called “Bitcoin and …” where he discusses news on a daily basis.
To this day, he continues to maintain that Bitcoin is a weapon, but, in the words of Parallax Digital CEO Robert Breedlove, one for peace.
“Bitcoin is FU money”
It was a cold day in late October, 2019, when Phil Gibson, a software salesman, drove home for his lunch hour. His friend had convinced him to buy a range of altcoins, such as the Brave browser’s Basic Attention Token and business-focused Syscoin, on crypto exchange Binance. Only the friend had warned him to get a VPN first.
Standing at the kitchen table with his laptop out, Gibson tried paying for NordVPN. But his debit card refused to work, flagging an error message. He tried his credit card. Still no dice. He got on the phone to his bank, to find out what was going on. While he was waiting on hold, it dawned on him that it was probably to do with what he was buying. The customer service assistant came back on and confirmed his suspicions.
Gibson was angry that the bank was banning him from spending his money how he wanted. He ignored the idea of calling his local branch and looked for another way. He noticed the VPN provider accepted Bitcoin, so he took out CashApp, bought Bitcoin and paid for the VPN directly.
“Once I saw that it worked, it was just amazing,” he said. “Bitcoin is FU money—it’s a hell of a drug.”
While he had heard about Bitcoin in 2017 during its epic run to $20,000, this was the moment he truly understood its value. It slotted straight into his libertarian-leaning beliefs and he started binging Bitcoin information, such as the Bitcoin audible podcast by Guy Swann.
But there was one thing about Bitcoin that—unlike the fiat money he had in his bank account—really resonated with him.
“It’s mine,” he said. “Even if I sound like Gollum.”
“It sort of clicked”
Economics student Marty Bent was sitting alone in the library of DePaul University in Chicago, one evening in the summer of 2012. Outside of his evening classes, he had spent the day working at a managed futures fund where he wrote almost exclusively about central banks and monetary policy. With his anti-authority bent, it was clear to him that governments were getting it all wrong.
“I was pretty glued to what the central banks were doing for three to four years. In the depths of QE2, QE3, Operation Twist, I quickly learned the central banks didn’t really have any idea of what they were doing,” he said, referring to examples of quantitative easing and bond buying by the Federal Reserve.
In that moment, he wasn’t studying for his economics lessons the next evening, nor was he preparing for the next day’s commentary at his day job. Instead, he was on BitcoinTalk, poring over everything there was to know about Bitcoin.
Bent said, “I was reading up on Bitcoin and getting a better understanding of the technology and the monetary policies behind it—and it sort of clicked.”
Bent soon started making Twitter lists of prominent Bitcoiners to keep track of what was going on. In the winter of 2013, he used his bonus check to buy his first Bitcoin for $800. Soon after that, it shot up to $1,200 and, driven by the feeling of euphoria, he was suddenly telling his coworkers all about it.
A “lightbulb moment”
In early 2017, Robert Breedlove was in his home office in Las Vegas, reading a paper on his iMac. Breedlove was a libertarian who had long wondered about money—what it was, and why governments had a monopoly on it. He had read a book called The Creature from Jekyll Island: A Second Look at the Federal Reserve, and one Christmas, he had even handed out copies of an abridged version—called Dishonest Money—to his family.
So, it’s unsurprising that, at that very moment, he was reading Nick Szabo’s explanation of smart contracts, a technology for coding agreements between two parties. Breedlove had known about Bitcoin for several years but it was at this moment, when he finally got what it was for.
“When i read Nick Szabo’s work on smart contracts—which was actually written in the late 90s—that was when I had my lightbulb moment,” he said. “Oh my gosh, this whole finance industry is basically this intermediate function that could be disrupted by smart contracts.”
It was Szabo’s example of a vending machine that struck him. “A canonical real-life example, which we might consider to be the primitive ancestor of smart contracts, is the humble vending machine,” Szabo wrote.
At that moment, Breedlove could visualize how Bitcoin or Ethereum could play the part of the vending machine, removing the need for the legacy finance industry—while rivalling state-backed fiat currencies. “That’s when I realised that the tech was really going to be a big deal,” he said.
He soon came to believe that it was Bitcoin that had the strongest foundation to disrupt the concept of money. After reading The Bitcoin Standard, by Saifedean Ammous, he devoured books by economists Ludwig von Mises, Murray Rothbard and Friedrich Hayek. He went on to become the CEO of Parallax Digital, which invests in Bitcoin-focused products, and has written a 62-tweet-long thread that sheds light on Bitcoin “in an exoteric nutshell.”
Simplex Debuts Fiat On-Ramp for Blockchain Game Townstar
Blockchain technology continues to see increased utilization in the gaming industry with the novel tech providing a robust base layer for monetizing in-game assets. Developers are also able to leverage decentralized ledger technology (DLT) in maintaining full control of their digital metaverses without recourse to third-party publishers and hosting services.
Simplex and Bitrue Partner for GALA Trading
According to a press release shared with Blockonomi, Simplex is now providing a fiat on-ramp for the purchase and sale of GALA tokens via a collaboration with Bitrue crypto exchange. GALA which is an ERC-20 token can be traded inside Townstar, a blockchain-based game developed Zynga co-founder Eric Schiermeyer.
By providing a fiat gateway for GALA token trading Simplex is broadening the utility for the token. GALA tokens were previously only used as a reward for running a Gala Games Soft Node.
Commenting on the implication of broadening the utility for GALA tokens, Simplex CEO Nimrod Lehavi remarked:
We’re excited to announce our partnership with GALA, who are leading the way in connecting crypto and casual games. Casual games are an innovative application that will open up the ecosystem to many new users. Simplex is thrilled to work alongside GALA and Bitrue to enable billions of people to easily and securely onramp to the community.
By introducing a token economy for GALA “coins,” Simplex and Bitrue might be creating an avenue for expanding the adoption of crypto and blockchain in the gaming space. Such a trend may also be net positive for the blockchain industry as the gaming arena offers another expansion vector for the nascent technology.
Simplex continues to provide fiat on-ramps for numerous cryptocurrencies. As previously reported by Blockonomi, the company removed know-your-customer (KYC) verification requirement for transactions below $150 back in May.
Blockchain and In-game Token Monetization
Trading in-game assets is only one of the developmental activities occurring within the intersection of the blockchain and gaming industries. With advancements in supporting protocols like virtual reality (VR) and augmented reality, gaming enthusiasts can now enjoy truly immersive and interactive virtual worlds on their favorite titles.
Blockchain and crypto offer a viable path to monetizing the gaming industry where in-game assets can now economic value in the real-world. Non-fungible tokens (NFT) are already becoming popular with companies developing assets like rare trading cards, digitized fashion items, and even virtual land.
Indeed, virtual land platforms like Decentraland and The Sandbox have seen massive buy orders from individuals and corporations alike. Earlier in September, crypto exchange behemoth Binance announced the acquisition of over 4,000 LAND tokens which is the native coin of The Sandbox virtual world.
DLT can even offer a bridge that connects different gaming metaverses allowing the transfer of assets across games. Such transfers can even be made seamless once Web 3.0 becomes fully realized.
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