Powering the future with Blockchain
On September 26th we hosted our third #cryptocoffee session on Twitter — a live chat which UTRUST is hosting once a month to bring our community into a dialogue about the state of the crypto space. Every month we’re inviting personalities or companies to discuss blockchain, crypto, e-commerce and other important topics surrounding payment solutions of the future.
☕ #cryptocoffee
For the third #cryptocoffee we invited Ricardo Silva, Tech Lead at Consensys. ConsenSys is a market-leading blockchain technology company, building a robust ecosystem of people and products around the innovation of Ethereum blockchain technology. Ricardo, together with our developer Miguel Palhas, discussed how blockchain can empower the future.
It was an enlightening conversation. If you couldn’t follow the chat live, we got you! Here’s a catch up :
❓Questions
#cryptocoffee Q1:
Q1: We're wondering: tell us how your adventure with #blockchain started 🤓
— @UTRUST
@UTRUST I first got to work with #Bitcoin around 2012, at the time for a sports betting project. A few other came along before UTRUST. During all that, I ended up being a very early user of both @coinbase's and @UpholdInc's API, and took an #Ethereum Developer Course by @b9lab .
— @naps62
#cryptocoffee Q2:
Q2: How do YOU predict #blockchain can change the future of online #payments?
— @UTRUST
@UTRUST In developed countries, at the moment, online payments is something easy to do and convert money with major currencies. Developing countries is not the same, as where I was born: Venezuela. Blockchain for payments will have the most impact there.
#cryptocoffee Q3:
Q3: A lot of people say that Blockchain is "the Internet 2.0". Do you agree with this?
— @UTRUST
@UTRUST It will evolve how we develop apps in the Web to be based on distributed computing and storage, which is where projects like Ethereum and Swarm/IPFS are working on (plus a lot of more others!) (2/2)
#cryptocoffee Q4:
Q4: What are the businesses/industries you believe that #blockchain technology will become an essential part of?
— @UTRUST
@UTRUST Healthcare and supply chain
#cryptocoffee Q5:
Q5: What do you believe the current challenges with #blockchain are?
— @UTRUST
@UTRUST 1. Scalability issues, 2. Using in sectors where it's not necessary, 3. People's greed, 4. Defending traditional financial system which is corrupted (money printing). 5. High volatility on crypto market, which discourages people from investing. Enough.
#cryptocoffee Q6:
Q6: Why do you think #Ethereum is focusing so much in #proofofstake?
— @UTRUST
@UTRUST In a short answer, is mainly because PoS is more cost-effective as it uses less energy. At the same time, it will be more scalable as the settling of the transactions in a block can be done faster than in PoW. (1/2)
#cryptocoffee Q7:
Q7: What is the biggest struggle you encounter in working with #Ethereum?
— @UTRUST
@UTRUST Infrastructure is hard to maintain (though services such as @AlchemyPlatform already help relieve some of this), and recent bugs and hacks in #SmartContracts prove that the technology is still a bit immature, and developers not experienced enough. (2/3)
— @naps62
#cryptocoffee Q8:
Q8: Can you give us 1 or more examples of #blockchain in day-to-day use?
— @UTRUST
@UTRUST Apart from the cryptocurrencies, a great example of a finance DApp is @compoundfinance which allows users to ask for a loan by providing collateralized assets, by paying an interest. Other users that supply assets to the system get automatically an instant interest rate. (1/2)
#cryptocoffee Q9:
Q9: What are the books & blogs that you recommend reading to learn more about #blockchain?
— @UTRUST
@UTRUST The books by @aantonop (Mastering Bitcoin and Mastering Ethereum) really helped me dig deep into the technical aspects. (1/2)
— @naps62
#cryptocoffee Q10:
Q10: Do you attend conferences related to #blockchain? If so, which ones do you recommend?
— @UTRUST
@UTRUST I attended @ETHBerlin last year, and was amazing to see the spirit of everyone involved, with people interested in simply building useful & interesting stuff together. This year I'll be attending @Ethereum #devcon in a couple of weeks.
— @naps62
Even though the live session was last week, the discussion is out there and you are welcome to jump in at any time. Just follow #cryptocoffee tweets and share your thoughts!
Soon we will be announcing the October #cryptocoffee. If there’s a discussion topic or someone in particular that you would like to see covered in our next session, just drop us a comment below.
We look forward to having a cup of coffee with you 🙃
Talk soon 👋
#3 Crypto Coffee was originally published in UTRUST on Medium, where people are continuing the conversation by highlighting and responding to this story.