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chore(docs): add medium for 2018 (#645)
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* add authors to blog articles

* medium 2018 articles
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---
title: The Future of Blockchain is the Smart Contract Sharing Economy
description:
How Kadena’s stack turns cost centers into revenue generators. Kadena is
uniquely positioned in the blockchain ecosystem; we provide a complete
blockchain stack allowing entrepreneurs and developers to use both
permissioned and permission-less (private and public) blockchains to unlock
new sources of revenue.
menu: The Future of Blockchain is the Smart Contract Sharing Economy
label: The Future of Blockchain is the Smart Contract Sharing Economy
publishDate: 2018-12-17
author: Will Martino
layout: blog
---

## The Future of Blockchain is the Smart Contract Sharing Economy

### How Kadena’s stack turns cost centers into revenue generators

**[Kadena](http://kadena.io)** is uniquely positioned in the blockchain
ecosystem; we provide a complete blockchain stack allowing entrepreneurs and
developers to use both permissioned and permission-less (private and public)
blockchains to unlock new sources of revenue. Interoperating and securing our
end to end stack sits [Pact](http://pact.kadena.io) — a single, simple,
integrated (and [open source](https://github.com/kadena-io/pact)) smart contract
language. Kadena users effectively have an out-of-the-box solution, seamlessly
moving between public and private configurations depending on their tolerance
and case needs for permissions and security. This technology carves out new
opportunities with existing data and workflows that the current solutions
cannot. The Kadena stack **turns cost centers into revenue makers. **Kadena
allows companies to safely monetize their existing business workflows and
represent them as smart contracts on a public network.

## Unlocking Liquidity with the Blockchain Sharing Economy

The sharing economy is grounded in the idea that consumers have some asset, for
example, a car or a spare bedroom, that they already possess but that they might
not use all the time. The sharing economy allows people to monetize their assets
that are otherwise a form of _trapped liquidity_.

At Kadena, our stack enables extending this sharing economy idea to include
existing small, medium and even large-scale enterprises. Every business has
their primary revenue centers; for a classic bank, the money clients store is
lent out to others with interest. However, every business also has cost centers,
which support the money-making element of a business, but take away from the
overall profits and efficiency of the enterprise. Common bank cost centers
include anti-money-laundering compliance (AML) or know-your-customer work (KYC).

**Kadena’s hybrid blockchain can unlock these cost centers and transform them
into revenue centers**. In effect, the “blockchain sharing economy” takes the
existing trend of enterprises providing APIs to its logical conclusion–done
right, a public blockchain provides a common integration platform that has
native support for monetization.

## Examples of Trapped Liquidity Unlocked with Kadena

In one example, a bank could connect to our public blockchain Chainweb and
represent their AML resources in a smart contract by an opaque identifier. The
contract controls the on-chain whitelisted accounts and an API to get additional
off-chain identifiers put into the on-chain whitelist. Then, other businesses
that need to do AML or KYC can access that service. Private data is kept
private, but the work already done to create the whitelist is re-used and
monetized.

![](/assets/blog/0_5x-g2hX7abU0KSdu.png)

Say you run an apartment subletting social network that connects subletters and
apartment hunters together, and one of the services you want to offer is
security through AML. However, that service is something that, when done
internally, would cost you a lot of resources without being the main focus of
your company. In this example, the bank would share its AML service (a service
that it does for itself regularly already), and your subletting company can
query and use that service for a fee. You pay some money, they get some data,
AML becomes less of a cost center for you, and your costs end up going down
while their revenue goes up.

_But don’t services for stitching APIs and monetizing databases already exist?_

Yes, and the technical costs of integrating with these narrowly tailored
services can be prohibitive for small businesses thus impeding that market’s
growth. Blockchain is a broader platform for growth, one that by design doesn’t
crash or require client-side servers for integration, AND one that benefits not
just the user but the companies providing services of activities they already
perform.

Take about another example: Rent the Runway (RTR) has the largest dry cleaning
facility in North America, which they need to service all the dresses they rent
out. Dry cleaning is a cost center for which RTR already has an economy of
scale. There is an entire lifecycle here that lives entirely on RTR’s backend
databases: a consumer makes an order, RTR sends the dress, the consumer wears
the dress and returns the dress, RTR receives and cleans the dress and preps it
for the next order.

If RTR were to take a unit of this lifecycle and represent it as a token or
smart contract on a private blockchain, then use that contract as an “API” on a
public chain, they can effectively “take a second bite of the apple.” Whenever
Rent the Runway has excess capacity in their dry cleaning facilities at certain
times of the year, they can offer up the excess on this public chain. A small or
medium-size business that doesn’t have direct access to this massive
dry-cleaning warehouse can take advantage of this by using that
tokenized/contract API. Rent the Runway thus monetized this trapped liquidity,
decreasing their costs and effectively turning this cost center into a revenue
generator.

## Unique Features of the Kadena Stack

The reason the blockchain sharing economy has not been realized on other
blockchains is that other platforms lack the unique features of the Kadena stack
to solve certain relevant problems. So what else is missing on other platforms
to support this ecosystem?

1. The first problems are *scalability *and _cost-effectiveness_. Without a
scalable blockchain, businesses can’t rely on the system for anything
crucial to their business process. Kadena’s public blockchain, Chainweb, is
designed for high throughput and lower congestion/transaction fees, making
it simple and cost-effective to support serious use on a public chain.

2. The next issue is more subtle: _smart contracts must interact with each
other in a single transaction_. True business on a blockchain doesn’t make
sense if all you can do on blockchain are tokens, because you merely end up
with a ledger of some stuff that you can trade back and forth and little
more. Though a necessary feature, tokenization isn’t sufficient for serious
business adoption. With Kadena’s stack, you will be able to chain various
token workflows together into a larger functional workflow. Your linked Pact
smart contract could get a dozen things off a site like Wish, handle the
FedEx shipping to a service like Rent the Runway, handle the cleaning, and
then also handle shipping it to you as well.

3. Another critical problem is one of trust and control: _smart contracts must
be safe **and **upgradeable._ One of the biggest problems with the sharing
economy is trust — some people don’t like the idea of sharing their car with
a stranger if they can’t control their use. That issue of control and trust
an even bigger problem for companies. Kadena’s safe smart contract language
Pact comes with upgradeable governance–the ability to designate how and who
can change that contract–which allows you control over the ledger so that
even if trust breaks down, you can actually fix things. If a dependent
service ends up being malicious, you can upgrade your contract to cut them
out of the system and upgrade the contract to fix the bug. Unlike generic
APIs or database access controls, smart contracts preserve the intent of the
creator without raising security concerns.

4. The final necessary feature is about permissions: _smart contracts must
allow snapshotting imports_. Though a technical concept, this is what’s
needed to get _smart contract interoperability_ actually working safely. The
only way you’re going to get a company to take a core piece of their
back-end and expose part of it to the public is if the company knows that,
no matter what happens, only the code that they write will be running in
anyone else’s contracts and only the code they explicitly bless to run
inside their contracts will be allowed to run. There should be no way for
someone to get arbitrary access to their database. Unlike other smart
contract languages, Pact was purpose-built to be safe enough for business
level adoption cases.

## Creating A New Marketplace-Based Economy

The blockchain sharing economy, if executed successfully, will allow companies
to unlock whole new sources of revenue. One larger goal of the Kadena journey is
to change the way that people think about smart contracts — they will no longer
merely represent tokens, but rather entire services. Under this new paradigm,
smart contracts will serve business workflows. Done right, Pact effectively
becomes a lingua franca for representing business workflows on a blockchain,
because Pact has all the necessary features and is on top of the systems
(Chainweb and ScalableBFT) that are built for scale. While I don’t believe there
will ever be one blockchain to rule them all, I do believe that there will be
one smart contract language that becomes the standard.

Right now it may seem that \*\*public and private blockchain are two different
markets with two different software stacks, like the early days of the Internet
vs. Intranet. But soon, with the launch of Chainweb in 2019, we will have
institutions using Kadena with private internal chains that monetize using the
public network to unlock value that was previously trapped. Eventually, we will
have a world in which there is no distinction between public and private
blockchain; instead, there are private chains that securely and privately expose
value onto on a much larger public network. Because the Kadena platform is
safer, secure, automated, and distributed, the blockchain sharing economy for
businesses will become a reality.

### About Kadena

[Introducing Kadena: Scalable Blockchain & Smarter Contracts](https://www.youtube.com/watch?v=83g2Uzp7lVs)

Sign up to the Kadena [Newsletter](http://eepurl.com/gdsoHj) and find us on:
[Twitter](http://twitter.com/kadena_io) |
[Linkedin](https://www.linkedin.com/company/kadena-llc/) |
[Facebook](https://www.facebook.com/KadenaBlockchain/)|
[Github](https://github.com/kadena-io)| [Reddit](http://reddit.com/r/kadena)|
[Discord](https://discord.gg/bsUcWmX)
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---
title: Consensus2018 5 Lessons from Your First Crypto Conference (Day 1)
description: What to do when they bring the lambos to your doorstep
menu: Consensus2018
label: Consensus2018
publishDate: 2018-05-04
author: Vivienne Chen
layout: blog
---

## #Consensus2018: 5 Lessons from Your First Crypto Conference (Day 1)

### What to do when they bring the lambos to your doorstep

Lesson #1: Prepare for a
[line to registration](https://twitter.com/mdudas/status/996070779434528769)
that represents the fundamental problems of throughput and congestion for
blockchain as a whole.

TODO: embed
https://twitter.com/dickerson_des/status/996041484007886848?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E996041484007886848%7Ctwgr%5Ef54a655ebe4bf6e4f65fb28adac49d5e1911205a%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcdn.embedly.com%2Fwidgets%2Fmedia.html%3Ftype%3Dtext2Fhtmlkey%3Da19fcc184b9711e1b4764040d3dc5c07schema%3Dtwitterurl%3Dhttps3A%2F%2Ftwitter.com%2Fdickerson_des%2Fstatus%2F996041484007886848image%3Dhttps3A%2F%2Fi.embed.ly%2F1%2Fimage3Furl3Dhttps253A252F252Fpbs.twimg.com252Fprofile_images252F873291993627193344252FpruiILEs_400x400.jpg26key3Da19fcc184b9711e1b4764040d3dc5c07

TODO: embed
https://twitter.com/brucefenton/status/996082156794466304?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E996082156794466304%7Ctwgr%5E0d5aaa3e02aec92668394d261644fdc42c9bbb1e%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcdn.embedly.com%2Fwidgets%2Fmedia.html%3Ftype%3Dtext2Fhtmlkey%3Dd04bfffea46d4aeda930ec88cc64b87cschema%3Dtwitterurl%3Dhttps3A%2F%2Ftwitter.com%2Fbrucefenton%2Fstatus%2F996082156794466304image%3Dhttps3A%2F%2Fi.embed.ly%2F1%2Fimage3Furl3Dhttps253A252F252Fpbs.twimg.com252Fprofile_images252F963146788239638528252FMPXNJxMz_400x400.jpg26key3D4fce0568f2ce49e8b54624ef71a8a5bd

TODO: embed
https://twitter.com/AndreMKonig/status/996018245416243200?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E996018245416243200%7Ctwgr%5Ed27877ad167749a451a0f343d37d2655215ce4fe%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcdn.embedly.com%2Fwidgets%2Fmedia.html%3Ftype%3Dtext2Fhtmlkey%3Da19fcc184b9711e1b4764040d3dc5c07schema%3Dtwitterurl%3Dhttps3A%2F%2Ftwitter.com%2Fandremkonig%2Fstatus%2F996018245416243200image%3Dhttps3A%2F%2Fi.embed.ly%2F1%2Fimage3Furl3Dhttps253A252F252Fpbs.twimg.com252Fmedia252FDdKRUNWXUAEfJWa.jpg253Alarge26key3Da19fcc184b9711e1b4764040d3dc5c07

Lesson #2: Give bonuses to your developers who agree to a live demo. I failed to
realize the insanity of the proposition until one of the more tech savvy
audience members asked a dev to code for him a particular line of smart contract
code… and then the dev… did it. (Saner portion of talk captured below):

TODO: embed
https://twitter.com/kadena_io/status/996123734024052736?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E996123734024052736%7Ctwgr%5Efbe26e9ad112245098df2613fea3ffa0fbbbc814%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcdn.embedly.com%2Fwidgets%2Fmedia.html%3Ftype%3Dtext2Fhtmlkey%3Da19fcc184b9711e1b4764040d3dc5c07schema%3Dtwitterurl%3Dhttps3A%2F%2Ftwitter.com%2Fkadena_io%2Fstatus%2F996123734024052736image%3Dhttps3A%2F%2Fi.embed.ly%2F1%2Fimage3Furl3Dhttps253A252F252Fpbs.twimg.com252Fext_tw_video_thumb252F996123626356330498252Fpu252Fimg252FTocnITHyBs6BInEW.jpg26key3Da19fcc184b9711e1b4764040d3dc5c07

Lesson #3: Be prepared to have a nuanced debate about diversity and gender
representation in blockchain via T-Shirts.

TODO: embed
https://twitter.com/CamiRusso/status/996146032839987200?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E996146032839987200%7Ctwgr%5Ec2e6c6951933776f39b652efd7d222fcb7ba70d6%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcdn.embedly.com%2Fwidgets%2Fmedia.html%3Ftype%3Dtext2Fhtmlkey%3Da19fcc184b9711e1b4764040d3dc5c07schema%3Dtwitterurl%3Dhttps3A%2F%2Ftwitter.com%2Fcamirusso%2Fstatus%2F996146032839987200image%3Dhttps3A%2F%2Fi.embed.ly%2F1%2Fimage3Furl3Dhttps253A252F252Fpbs.twimg.com252Fmedia252FDdMFh6yU8AAAl-3.jpg253Alarge26key3Da19fcc184b9711e1b4764040d3dc5c07

Lesson #4: Always ask — at what odds? And also, what is my buyout for this
wager?

TODO: embed
https://twitter.com/jenwieczner/status/996134556574126080?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E996134556574126080%7Ctwgr%5E367efccf562f23ec3d6036db763000ec9c3801c9%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcdn.embedly.com%2Fwidgets%2Fmedia.html%3Ftype%3Dtext2Fhtmlkey%3Da19fcc184b9711e1b4764040d3dc5c07schema%3Dtwitterurl%3Dhttps3A%2F%2Ftwitter.com%2Fjenwieczner%2Fstatus%2F996134556574126080image%3Dhttps3A%2F%2Fi.embed.ly%2F1%2Fimage3Furl3Dhttps253A252F252Fpbs.twimg.com252Fmedia252FDdL7GIzU8AA-A64.jpg253Alarge26key3Da19fcc184b9711e1b4764040d3dc5c07

Lesson #5: Realize your one block sponsorship still cost more than the 10 rented
lambos they parked outside the conference.

TODO: embed
https://twitter.com/Kr00ney/status/996096790184321024?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E996096790184321024%7Ctwgr%5E636d54e95ca3a076a14ccb75181cde126ab0891d%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcdn.embedly.com%2Fwidgets%2Fmedia.html%3Ftype%3Dtext2Fhtmlkey%3Da19fcc184b9711e1b4764040d3dc5c07schema%3Dtwitterurl%3Dhttps3A%2F%2Ftwitter.com%2Fkr00ney%2Fstatus%2F996096790184321024image%3Dhttps3A%2F%2Fi.embed.ly%2F1%2Fimage3Furl3Dhttps253A252F252Fpbs.twimg.com252Fprofile_images252F974335566572646400252FGNJ-2Ytb_400x400.jpg26key3Da19fcc184b9711e1b4764040d3dc5c07
38 changes: 38 additions & 0 deletions packages/apps/docs/src/pages/docs/blogchain/2018/index.tsx
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import { Heading, Stack } from '@kadena/react-components';

import {
checkSubTreeForActive,
getPathName,
} from '@/utils/staticGeneration/checkSubTreeForActive.mjs';
import { GetStaticProps } from 'next';
import React, { FC } from 'react';

const Home: FC = () => {
return (
<Stack direction="column" spacing="2xl">
<div>
<Heading as="h2">BlogChain 2018</Heading>
</div>
</Stack>
);
};

export const getStaticProps: GetStaticProps = async () => {
return {
props: {
leftMenuTree: checkSubTreeForActive(getPathName(__filename)),
frontmatter: {
title: 'BlogChain 2018',
menu: '2018',
subTitle: '2018',
label: '2018',
order: 1,
description: 'articles..articles...articles 2018',
layout: 'landing',
icon: 'BlogChain',
},
},
};
};

export default Home;
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