2020 Digital Money Forum
January 7, 2020, Las Vegas, USA
2020 Digital Money Forum
Request Q&A
Video
Blockchain’s Technical Hurdles
Available
In cart
Free
Free
Free
Free
Free
Free
Free
Free
Add to favorites
274
I like 0
I dislike 0
Available
In cart
Free
Free
Free
Free
Free
Free
Free
Free
  • Description
  • Transcript
  • Discussion

About speakers

Jordan French
Executive Editor at Grit Daily News
Steven Becker
President & COO at MakerDAO
Rick Bleszynski
CEO at Zocial
Pooja Shah
Product Lead at Protocol Labs

Jordan French is an award-winning journalist and the Executive Editor at Grit Daily news, his sixth company.Following work as an engineer and a two-year stint as an enforcement attorney at the Federal Energy French grew his first company, (as CEO and COO) to Fast 50 and Inc. 500 rankings and his first exit/buy out. At BeeHex, his third company, French 3D printed food -- including pizza you eat -- for astronauts.On the editorial staff at TheStreet.com, Jordan French is a columnist or regular contributor to The Next Web, Inno & Tech Today, Entrepreneur, CIO.com, TechCrunch, Tech.co, Huffington Post, business.com, Outlier magazine, and Influencive. French also served on the leadership team at FOWNDERS, the social-impact startup accelerator serving entrepreneurs internationally and based in Newark, New Jersey.Prior to his media, entrepreneurship and legal careers, French worked as a payload engineer for NASA's Mars Gravity Biosatellite Program. He also worked on micro-electro-mechanical devices, Free Electron Laser beam delivery systems and on a XML bariatric Medical Intake Chair at Vanderbilt University Medical Center. French holds a degree in biomedical engineering from Vanderbilt University and his law degree from Washington University in St. Louis.

View the profile

Rick is a successful serial entrepreneur and 25-year veteran of the networking industry. He was the former chairman and founder at Bay Microsystems, CTO and founder at Softcom Microsystems (acquired by Intel Corporation in 1999) and holds 8 US patents in networking and microprocessor technology.

View the profile

About the talk

Speed, stability and scalability have plagued blockchain development from day one, but that’s starting to change. We look at three ways underlying blockchain technology can improve.

Share

Thank you. Wow. Four popular. Well, it's not me that you're here for, but really quick intro. My name is Jordan, French very much at large by journalism in New York where they with me wonder if I'm going too without delay, introduce my lovely guests. Awesome topic that I want to talk about a rick wasn't skis with us. Come come on over here and you can clap for him to give you see if we have enough of them and you want to come around here, Steven. Becker makerdao is with us copyright there. And where is Pooja

Shah? Well, We won't start without you pucha and laughing at least. He's here with us. I'm going to see you right here. Thanks so much Boucher, and your founder protocol labs for the uninitiated. That's one Bennett made a video that we thought actually encapsulated a bit of excitement and challenge is really that we see I'm a clicker. It makes me feel a bit like a, like a bond, a villain. I'm going to press this button and hope nothing bad happens. Now, it's a green button. I'm pressing, it will see if this please. Thank you Robin, for inviting me to join is bae a digital

money for him at CVS 2020. I wish I could be there in person. I'm sorry. I'm hunkered down with the team building. The next release the following the main that was her more about this in the next session. Falcon aims to solve a fundamental problem in today's web. Where are we going to store all the data were generating by the end of this year? They will be about 50 zettabytes of data in the world and their moms were generating. Every year is growing exponentially, tons of News videos, podcast websites, all kinds of files. What about half of the world storage hits on used? Pathways a

cryptocurrency powered storage Network providers, earn filecoin by offering unused storage space, and users, spend filecoin to hire that storage space in the network layer, the makes the system operate, like a Marketplace Brook Labs, it's part of the web free movement. The next generation of the internet. This is a web this more resilient reliable and open. It's a return to the original intent of the Internet Protocol labs and everyone working on web free are building a new and much-needed internet infrastructure. This is an ecosystem a protocol, the decentralized web services

and spread the wealth created by networks. Anyone can be a part of it. So we hope you'll join us. Well. Thanks 111, shared with us that he couldn't bear to apologize. So first of one week, we do accept your apology one, and we're glad that you sent someone that your team claimed was better and that's who just shot. So I'm going to open with you. And it's, it's, it's on everyone's mind because we're impatient. People, nowadays are attention, spans are short, we think everything should happen all at once. But inquiring-minds-want-to-know is there a particular

Achilles heel that could hobble blockchain entirely and make all of this cacophony? We made about how I promise it holds not quite significant. Yeah, I think that's a great question to be in my perspective, but I believe that the answer is no, there isn't an Achilles heel were just at a stage in development of in this industry where we're still building core infrastructure as an example with a coin. But we're building as one mentioned in the video is a decentralized

storage network. If if you think of a text back, like, the way that we think I'm building a computer storage is one of the core components and operating systems in somebody's Corps, base layers of computation that we're still at the Forefront of this industry are still building those things yet where we're going to see these Mass Market application that make watching adopted really Bradley it because we're still didn't, I don't think that there is a Really low level? Are

you you mention these? You mention these applications, but the people demand them. But I'm, I'm going to breathe a sigh of relief. Since you said, we're not entombed. I'll set my my Detonator down on this table is carefully. And it's what we now know, as the internet. And the reason why that's important here is because it's very relatable, this audience of one, kind of knows what email is and a web browser is for example or perhaps a few analogies there. So just give us some perspective from what Pujols refers to is these Grand applications and she says, they're coming, where are we

in the timeline for blockchain when we have in our minds? The internet I gots to this is changing from a centralized or decentralized passion and one of the most brilliant ipfs and then moving to the portable apps and stuff like that. So if you have to look at the layering photos in the blockchain space and compare it to the internet or side seven layers. Okay? So we we spend a lot of time application layers on the top on the Block. And then I think some of the thing that

is working is actually be single layers and map it to the OSI 7-Layer tractor. So we are down to Oregon lower than their one, that's what they're working is now. I combine that people be layers and below zero in blockchain space today and later zero eight balls 024 in the Wayside internet layers. So you need to map that and really thick look carefully. How do you solve this for Mass adoption? A lot of work has been done on the application. Protocol players, consensus layers, P2P layers,

Are we still running on the basic TCP IP internet routing switching Optical layers? That was built 40 years ago. This back to you too so it sounds like blockchain lords-a-leaping. Build on this old infrastructure technology. A lot of its Hardware that you worked on or at least years ago and isn't it's an adequate for all this mushroom of opportunities application. So on that that proves refer to is that the gist of what you're saying and I can give a very simple

application. It's not even an entire letting it's just one application that came in and it really throws the internet's out of them. Then some people create what it's called. The content delivery Network and trying to stall, how to stream Netflix Netflix to all of us. So there is no, it is solution but we're still working for right now. We are in The community eyes you're from. As a journalist, is it quite underwhelmed? Good way to describe it. So it to invert all of it. What can we do? And what have we done? That is something that the Connecting

Point in blockchain, we're on our way. It from that point of view, I'd like to try and just spoke with my hand on him to bring us back up to some little to Simplicity and I'll have a broad question and that is no. What is the purpose of blockchain Penny? From my point of view? The internet was really Global accessibility to information blockchain is Google, accessibility to Value. So we have a look at the community of the consumers and say well what we need to have in place from a technical point of view in order to achieve at Global accessibility to

Value. So in being able to do that you can start identifying what does technical hurdles are. So from my standpoint, then it is really the feedback mechanism between the blockchain infrastructure that you building and the to use cases to user experience that you have icon. Be too far apart because if it is just becomes a theoretical exercise, you don't get that usability. Don't get the Progressive Movement and behind it. So, from there, the community point of view, it really is taking that Global accessibility of value and turning it into

the necessary products exchange decentralized exchanges. Decentralized exchanges, like coinbase okx. You've got decentralized exchanges has your ex and an oasis, very clear expressions of how you can bring value to the uses through the intersection of blockchain and when I like to pull the analog world because Ray Diaz at that intersection where you get that value and you realized the den lamp purpose. There's a question, can we do all of those things

successfully that you just described? What remains to be seen to a certain extent. I mean, everything is really a case of a function of time and effort and making sure that you can adopt a property to the uses knees. If it really boils down to being incredibly smart and creating these protocols, that allow the accessibility to new new applications due to centralized application, stand it bodes well to make sure that those applications also made that the user experience with those applications are in a very tangible and manifests

clearly into the value Soul. Timothy that relationship is, is it a bit of a loop? But you need to make sure that no one doesn't go too far ahead of the user and it, and their experience turn three times Steven mention the word valuable for your user out there. Really anything, especially transactional, there a few things that logically one. Require for such a system to any system to work specifically. For pedestrian terms to, you will use them. I speed of any system certainly right in the scalability of that cuz because you can do

something quickly if you can't repeat it over and over, that's an issue. And then categorically security and mole will really launched into that in a bit until does architect a bit about what we're talking about. But where are we in the first two of those categorically Yeah, so I think it depends on what application of watching you're talking about, so we have a centralized Finance projects and then I work in the defense life storage space. So file claim as a defense istorage project, they're just like with any software development project, there

are core market and product that we treat as requirements, when we're trying to navigate this trade-offs, paystub security scalability and beef. And particularly, in our case, when we talked about, it's preferable to be. So how quickly if you're going to store a file on the file for Network, how quickly can you get it back? Which is just a core function and storage of data. And so when, when were thinking about these this trade-offs faced, we used the requirements that we have from a product and Market perspective to say that, you know, these are possible protocol designs that we can use as

we're building the system and implementing it. And then Sing it to the world and I'm allowing other people to interact with it. But you know, is that there isn't a perfect solution to getting exactly what you want from. All three of these. Dimension Security scalability in speed every project in the space faces, similar to go back to the analogy again, speed scalability, browser engineer scientist. They were able to use the internet happened when the Netscape came out. Internet Explorer, come out, all of a sudden shortly thereafter. You have all this killer apps coming to Google the Amazon

Facebook, social media. But what happened to the actual infrastructure did the speed of the internet from the 90s to the 2000 specific? We are going from 191 to 2200 gig and so forth. So the same thing is going to happen with this new layering that I keep referring to From the Block where we're making new players is enormous impression when I get to the complexity. So we have to look again at every single layers and I think this is really heavily looking at that, which is below the consensus. In the end, we have to go all the way,

all the way down. This is Harkins back to last year's debate at CVS, for those who were hearing forgot those who weren't The $64,000 Question was, are we at that Netscape browser for blockchain? And that was the debate? It's a tease out that idiom or even more than we have the email of blockchain. What, what is the email of blockchain if you will a wreck? So it's so the email is basically creating the adoptions of Internet users. It took about 15-20 years for for for email to create the mass adoption

fee, crypto and blockchain space now space And I cannot say which specifically one that is in a way, I can make an analogy to the Netscape. You know, whether is 5.4 in ID, a, which is our, and then, then the last time and I'm back in the 95-96, from the browser came out, 5 6, 7 years for the killer at 2, but I can say this time. Browser or the analogy in blockchain come out. You better be prepared because it's going to go much faster the adoption because we are living in

a digital era. What position is towards, Steven? You mentioned. I was listening. We were all listening. So it's fair game. Now. Brock Pierce last year at CVS offer that up as the browser. How is that panned out interview Stephen? Well, that's interesting. I think a lot of the protocols have found their way through the crypto winter and they're trying to figure out how to reposition themselves appropriately, but more importantly it is Looking at what applications will be coming available to use it and what

applications are being meaningful. I prefer back to Global accessibility of value. And talking about financial inclusion, talk about accessibility to everyone around the world to Valium and that's where at the naked Foundation, the protocol that's been developed and put on top of the ethereum blockchain. The the sole product of It ultimately is a stablecoin because if you have value you want to be able to do so without volatility. It's that simple. It is the creation of digital cash in a decentralized world that makes its immutable transparent and

effective and secure. And to that end we have a look at the question. You brought out the box and what's the the killer rap? What's the Netflix? Is it? EOS It remains to be seen because from my point of view it's not just one. It's going to be the realization of the combination of many. It's the Partnerships in the collaborations between the file coins in the maker and established value proposition. Right there, there is the ability to create a card. We can load up the stable coin, That Make It produced and

use it, effectively pretty much any way you wish. So, the intersection of this crypto blockchain space with real world is becoming will manifest, its really bringing proper value to everyone around the world. And that is ready. Essential, and how we bring these ecosystems together will dictate, how blockchain as a whole moves forward, and just a little bit of housekeeping, cuz we're running. Low participation in the audience around the five minute, Mark or so, we'll definitely have a walking Mike and ask some questions

for awesome panels, right back to it. I do want to drill down just a bit on the most people. I think you're Noah, makerdao is, but for the uninitiated best known for stablecoin there. What I start with T. The interesting part about this that it's Rubik new ones but the the stablecoin is effectively a byproduct of naked out. What is really important is the fact that this application provides to princess to financial premises, in those Primitives, are at the heart of most economic

systems that being collateralization, credit generation. So from there, it's provides a set of tools for folks, to be able to create Insurance products. Financial products, turn on products. You can even Supply Chain management. See how do you create supply chain financing around? That are open Capital stretching? You got a new company, when a raise funds, what kind of working capital of do you? Do you want to get to go to a bank or do you go to a newly to find application built on ethereum network? It gives you a span of possibility, which True Value can actually be

realized right now, and because you can realize that that you you start looking at the simple aspect, how can you take the sport? Well, you have to answer the question for the application but you will have to answer the question for the blockchain that you were sitting on and wear that blockchain sits on this goes back to her ex points about looking at all those layers in saying what how does this thing really grow to Global adoption? Rick the new one way in and just wanted to

let you know. Five point is also working for the collapse into some part of the other. But like I said, when that, when the next time it's going to be so fast and and be the whole stack of this layer, better be prepared for that. What is it almost sounds like a warning. Is there something in mind that you want to share? Now, that's why we're working on it, but it has to be offered up at the applications are coming. Just pointedly, when give us an idea what's in your head, from your point of view, in his Paradigm that we've shared to the

internet, Yeah. Okay. So What's mass-market application? Is that what we're talking about? That's what you offered up and we're still going to be in this place. We're we're we're continuing to build a core infrastructure, a lot of the projects in the space right now are trying to do similar, provide similar value proposition to project, but doing you're playing with these other dimensions that we talked about already. So scalability and speed and things like this, those projects, many of

them haven't even launched. Once they do, we'll see how well they work. But there might be able to a host of other problems then that we discover, because it's easy projects that have lunch and I think in the decentralized storage space it's even earlier. So I think for the next five years were still going to see a lot of iteration on what these core infrastructure. Blockchains look like sore in the lair 0/1 watching and I think once we have a good handle on, LD systems that can support transactions and applications at at scale, we will start to see

more of those applications that have you do now, they differentiate themselves on things, like you asked, how easy is it application to use and more vertical, targeted to specific verticals, but we need to exist today. I mean, it's really hard to put time on anything like this to, you know, but for the next several years, I think we're still going to be building basic building blocks and then we'll start to see pointing out the freeway. Now, I do want to go there and we did just pull out of Steven weiner. Some of these

cases, is a really interesting one. But I want to get your comment. So I usually encryption that's been used by banking Financial system and stuff like that. It's very secure enough. And I remove to this very sophisticated, much more complex encryption using the chapter 56, for the proof of work off. Some of this content that is a very competent and set. So if you even think about it, right? We are creating the global Network mechanism. We need some very sophisticated encryption

and private key cryptography, which is the chapter 56. I think for the next few, you know, couple of decades. It's it's it's good enough for creating the global network of trust, for the mass adoption of this. Stevie Wonder, you want to answer it? If it is good enough, what wire wire, if he is good enough for DOD, why aren't we all using racing the technology and then get into uses? It takes time, radio along with most of the tax places in evolutionary aspect to it. That we have to take this to a

time frame in order to to realize it as quick as possible and it suited to the point of security as well. It's not just looking at the protocol and looking at the blockchain and understanding that Public, public key encryption but you come all the way up to the application. They is this application to be building on chains. I Like Satellites. Once you've deployed them on a public blockchain, you can just go and I made a mistake and didn't bring it back. It's gone. So the next steps involved with security at those levels need to be considered and there's something cool formal

verification. Something that used in the airline industry with before, they actually create the aircraft. If only proved that's going to do what it's supposed to do, the same thing as applied to specifically to to make a protocol. Full verification has been used to ensure, it's going to do what to expect to do. And then above that, you have your security Audits and You by volunteers, will the necessary infrastructure in place, and hold it in place, to make sure that you have a holistic security from the protocol, all the way up to the application Level, and why induces conference. And why

is that because that's inherent in all the values that she want to extract from a blockchain application. Is root, use the word confidence at its root. That seems to be a challenge and it sounds like there's information asymmetry everywhere out there. Is it relates to every aspect of this snow including security? You even offered up a a mutual funds analogy. Mutual funds were invented in the next year-and-a-half everybody throws a scam. So you know it really is a case of getting traction behind a very good concept until eventually becomes very clear as to what the purpose is and

how would I could buy, is the purpose of parent. So from, from the blockchain perspective, the same thing is really happening. When you look at the general news items out there about Bitcoin is Charlie from a negative point of view, because that's the way sorry to say this. But you sell papers as at work, but On. This is how we say I wasn't sure about that on the flip side and radius also looking an application that is useful. It generally is a case in most newly to find market speculators, come first speculators, and

the Furious actors come first in from that, you build out the true value of something inherent Rick, I'll give you the last word. I would definitely make sure we get we can probably fit in a question or two. Okay. The message I'm saying right here is that if this works would be as huge as the internet that shoots as I'm going to refer to a graphics processing. You know we have to create a special project source for the internet. We have to create a special forces are holographic. We have to create a special professor process or perhaps

one of the questions I do. See some hand-raise I believe we have a walking Mike. I'm going to look for whose guidance and We get. One right up here. I will go to the Gallup front in the red. I want to make it quick. And say your name. Michelle and in the future, 50 years from now. How do you think decentralized internet will look like? Something is monopolizing us, one company, having our data and inclusion look like with a i and other technology. Sure, I think that's a great question. You bring up some particularly Salient things. I think in the space, especially when thinking about data

privacy, right? I think this is a core value that is inherent to Webster e. And when we think about upgrading the infrastructure of the internet, how do we do that? How do we give control and sovereignty back to people who are providing data online to begin with? I think, in 50 years, I really hope we see a system that has that has an inherent feature, where people do control their own data. It is truly decentralized and them in the most absolute of cases. And I think the first part of your question about whether it looks like there are a couple of Enos mental

institutions that plays the role. I think that it's really difficult for that to be the case, if we do our jobs correctly because what what we build is protocols and networks and then once they are sort of launched, Is the satellite analogy or it's like launching a software rocket? Once we've launched them, you no longer control them. So you know, there's Gets into how we can recover in the evolutions, protocols overtime, but if we're doing our jobs, right? Hopefully these networks will exist autonomously and there won't be a mental institution. That that's all the

time we have is it sounds like a warning shot though. It centralized institutions are launching rockets at the end. That's what I got out of what we use it for thanking her off. Balance Miller, super busy working loving Steven Becker in Friends.

Cackle comments for the website

Buy this talk

Access to the talk “Blockchain’s Technical Hurdles”
Available
In cart
Free
Free
Free
Free
Free
Free
Free
Free

Ticket

Get access to all videos “2020 Digital Money Forum”
Available
In cart
Free
Free
Free
Free
Free
Free
Free
Free
Ticket

Similar talks

Lori H. Schwartz
Principal, Curator of Experiences at Storytech | Storifying Experiences Everywhere
+ 4 speakers
Jonathan Johnson
CEO at Overstock.com
+ 4 speakers
Alex Mashinsky
CEO at Celsius Network
+ 4 speakers
Matthew Roszak
Chairman & co-founder at Bloq
+ 4 speakers
Michael Terpin
Founder & CEO at Transform Group
+ 4 speakers
Available
In cart
Free
Free
Free
Free
Free
Free
Free
Free
Dante Disparte
Chief Strategy Officer and Head of Global Policy at Circle
+ 2 speakers
Amy James
CEO at Alexandria Labs
+ 2 speakers
Akin Sawyerr
Operations at BarnBridge
+ 2 speakers
Available
In cart
Free
Free
Free
Free
Free
Free
Free
Free
Michael Casey
Chief Content Officer at CoinDesk
+ 2 speakers
Andrew Morris
Founder & CEO at The Fintech Agenda
+ 2 speakers
Robin Raskin
Founder at Living in Digital Times
+ 2 speakers
Available
In cart
Free
Free
Free
Free
Free
Free
Free
Free

Buy this video

Video

Access to the talk “Blockchain’s Technical Hurdles”
Available
In cart
Free
Free
Free
Free
Free
Free
Free
Free

Conference Cast

With ConferenceCast.tv, you get access to our library of the world's best conference talks.

Conference Cast
613 conferences
24814 speakers
9164 hours of content
Jordan French
Steven Becker
Rick Bleszynski
Pooja Shah