Category Archives: vitalik buterin

Nevada Gov’t is Using Ethereum For Public Records, Smart Move?

Some counties in northern Nevada have reportedly been using blockchain technology to store a digital version of government records, including birth and marriage certificates. The blockchain of choice is that of Ethereum. 

Marriage Certificates on the Blockchain

Washoe County in Nevada has devised a digital marriage certificate program which uses the Ethereum blockchain to store digital versions of government records – reports Reno Gazette-Journal. 

Supposedly, the program has already served around 950 customers by the end of 2018. Additionally, Elko County is also testing blockchain to create certified digital copies of birth certificates.

The news caught the attention of Ethereum’s co-founder, Vitalik Buterin.

“I actually think ultra-high-assurance storage of very small but high-value files is a totally legitimate use case for public blockchains. Great to see Nevada experimenting with Ethereum for this.” – Tweeted Buterin.

Blockchain Technology in Public Fields

Washoe County’s digital marriage certificate program is not the first case of public authorities recognizing the merits of blockchain technology.

Earlier in 2018, Live Bitcoin News reported that Chilean parliamentarians Giorgio Jackson and Miguel Angel Calisto presented a resolution before the country’s lower house of Parliament. They suggest implementing the technology within all of the public fields of the country.

…with this technology we could also transparently and unalterably track the management and work carried out by the different public agencies, with their indicators and all the figures collected, reducing the possibility that this information is used maliciously with others. – Noted Calisto.

The Ministry of Justice of Azerbaijan is also taking steps towards implementing blockchain, as well as smart contracts, to improve the country’s public services.

The second biggest state of the UAE – Dubai, is also working on a project dubbed “Smart Dubai”, aiming to launch a government-backed blockchain platform. Dubai has teamed up with tech mogul IBM on the project.

What do you think of the use of blockchain technology in public sectors? Don’t hesitate to let us know in the comments below!

The post Nevada Gov’t is Using Ethereum For Public Records, Smart Move? appeared first on Live Bitcoin News.

Source: Bitcoin News

Why Ethereum Co-Creator Isn’t Worried About ConsenSys Being Profitable for a While

Joseph Lubin is the co-creator of Ethereum and the CEO of ConsenSys, a blockchain venture studio. In a recent interview, Lubin explained what ConsenSys has been up to as of late, and why it doesn’t matter if the company isn’t as profitable as it once was.

Ethereum Gets Its Grand Entrance

Lubin first met Vitalik Buterin – the primary brains behind Ethereum – in 2013. He worked with Buterin and his team to build the Ethereum Network and establish its reputation as not just a cryptocurrency, but a platform that could pave the way for future cryptocurrency projects built on Ethereum’s now ever-popular blockchain.

In 2014, he left and founded ConsenSys, which has worked to build startups from the ground up by helping them establish proper executive teams, build revenue and raise capital. Since its inception four years ago, ConsenSys has created developer tools, decentralized apps (dApps) and even its own education and training academy. Many of these projects have since gone on to raise their own capital.

A Simple Project Goes “Boom”

It’s safe to say that ConsenSys has become a solid ecosystem rather than a simple blockchain project. Lubin is said to be the world’s single largest holder of ether – the official cryptocurrency of the Ethereum network – though he’s been putting much of those funds towards keeping his business in operation. ConsenSys has taken some nasty hits this year with the extended price drops of cryptocurrencies like ether, but this isn’t necessarily getting under his skin.

Always Seeing the Positive

When asked if ConsenSys was still profitable, Lubin said:

“We’re still in the burn. We’ll probably be that way for a long time, just because we’ll continually invest rather than try to extract profits. If you [were to] consider some of our token launches revenue, then we’d be profitable, but a lot of those tokens are things that we’re going to keep frozen for a long time. If we calculated everything, then yes, we’re above zero.”

He also says that nothing could have prepared him for the growth rate of ConsenSys, and he admits that the company potentially “grew too fast.” So fast, in fact, that he had little to no time to induct every employee or new individual into the company culture appropriately, though in the long run, he comments that fast growth is always better than slow growth:

“Tons of growing pains, sure. We’re trying to get better with our onboarding process. We’re growing too fast; we felt that was necessary because the alternative, growing too slow, would have been much more problematic for our product teams and consulting arm.”

Let’s Keep Things Fair!

In the end, he comments that ConsenSys isn’t trying to rule the world like Amazon or Apple. Rather, the goal is – and always has been – to keep the world from being ruled:

“We’re trying to decentralize ourselves. Essentially, various technologies have enabled technologists to pile stacks of value higher than ever before. Those stacks of value [have been] contained within firms, but if we have these protocol-based open platforms, these network business models, then ownership will be much more decentralized. We’ll have companies [with] tokenized securities, and we’ll have these networks that offer products and services.”

Do you consider Joseph Lubin to be one of the industry’s leading figures? Why or why not? Post your comments below.

Image courtesy of Shuttershock

The post Why Ethereum Co-Creator Isn’t Worried About ConsenSys Being Profitable for a While appeared first on Live Bitcoin News.

Source: Bitcoin News