Blockchain & DApps
a new development paradigm
Blockchain - A Brave New World
In these days, mid of 2018, blockchain, cryptocurrencies, initial coin offers (ICO), decentralized applications (DApps) are the new trending keywords which can be found in many tech-related articles all over the media.
Our main question is how these trends and new technologies are influencing business, media, and society over the next years.
Blockchain infrastructure has matured and has been published as open-source projects.
Own tokens can be easily created and are used for a wide range of applications, besides cryptocurrencies with a growing focus on data storage, smart contracts, and transparency aspects. Analytics and adaptive learning algorithms can be defined on top of the blockchain data and open a direct link to business applications, e.g., in the field of
decision support strategy optimization under uncertainty & risk fraud prevention
We are digging into innovations and applications related to crypto and blockchain and provide insights and tools for our customers and clients.
Join our blockchain lab to share our excitement and explore new opportunities coming up around the blockchain technology.
ICO - initial coin offers
One trend in startup investments is to launch an ICO, initial coin offer. The base concept is to describe an idea or project in a whitepaper, start an own coins/tokens (mostly Etherium based) and advertise it globally to potential investors. Investors are buying your coins upfront and are hoping to see value in the future. The critical question here is if the coin will be considered security or utility.
Issuing securities would be critical and are highly regulated by existing financial laws. So if the coin will be seen as security (e.g., equity in a company), it may cause legal issues in some countries.
Right now, early 2018, in many countries the legal status of ICOs is not defined yet, and they operate in an open space. A first exception is Estonia, which has introduced a law related to cryptocurrencies already in 2009
“Payment Institutions and E-money Institutions Act” (2009)
Malta has launched ICO-related regulations in Autumn 2018 and is an attractive location for startups in the area of ICOs and blockchain technologies.
Blockchain for Developers
Smart contracts and DApps are attractive for developers and are opening up a new paradigm for distributed decentralized applications.
Applications might use blockchain technologies to empower and disrupt the internet and various industries by the paradigma of decentralization.
Blockchain and smart contracts make it possible to manage digital assets using digital identities and distributed networks.
Beside the Etherium blockchain and Solidity as its language to define smart contracts, various followers are coming up with similar & extended solutions. E.g., Neo supports many languages and describes itself as an open network for a new and smart economy.
Neo's formula: Digital Assets + Digital Identity + Smart Contracts = Smart Economy
Share our passion and please stay tuned. In one of our next posts, we are going to show an example of how to build and use smart contracts in own applications (DApps).