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.../blogchain/2018/blockchain-future-smart-contract-sharing-economy-2018-12-17.mdx
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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) | ||
|
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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. | ||
|
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_But don’t services for stitching APIs and monetizing databases already exist?_ | ||
|
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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. | ||
|
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## 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. | ||
|
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## Creating A New Marketplace-Based Economy | ||
|
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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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.../consensus2018-5-lessons-from-your-first-crypto-conference-day-1-2018-04-15.mdx
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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 | ||
--- | ||
|
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## #Consensus2018: 5 Lessons from Your First Crypto Conference (Day 1) | ||
|
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### What to do when they bring the lambos to your doorstep | ||
|
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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. | ||
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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 | ||
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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 | ||
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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 | ||
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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): | ||
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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 | ||
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Lesson #3: Be prepared to have a nuanced debate about diversity and gender | ||
representation in blockchain via T-Shirts. | ||
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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 | ||
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Lesson #4: Always ask — at what odds? And also, what is my buyout for this | ||
wager? | ||
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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 | ||
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Lesson #5: Realize your one block sponsorship still cost more than the 10 rented | ||
lambos they parked outside the conference. | ||
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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 |
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packages/apps/docs/src/pages/docs/blogchain/2018/index.tsx
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import { Heading, Stack } from '@kadena/react-components'; | ||
|
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import { | ||
checkSubTreeForActive, | ||
getPathName, | ||
} from '@/utils/staticGeneration/checkSubTreeForActive.mjs'; | ||
import { GetStaticProps } from 'next'; | ||
import React, { FC } from 'react'; | ||
|
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const Home: FC = () => { | ||
return ( | ||
<Stack direction="column" spacing="2xl"> | ||
<div> | ||
<Heading as="h2">BlogChain 2018</Heading> | ||
</div> | ||
</Stack> | ||
); | ||
}; | ||
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||
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', | ||
}, | ||
}, | ||
}; | ||
}; | ||
|
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export default Home; |
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