A Tough Climb
Constellation Labs has announced the launch of their Global Ambassador Network in a press release obtained by BlockTelegraph. They will help organizations with blockchain tools and expertise, enabling them to address their blockchain adoption challenges.
Blockchain technology has transformative potential; however, there are adoption challenges due to it being so new. Blockchain emerged onto the scene with cryptocurrencies like Bitcoin. However, larger adoption needs enterprise participation.
There are obstacles to cryptocurrency adoption like market volatility and regulatory uncertainties. Bitcoin uses the Proof-of-Work consensus algorithm, which requires a high amount of energy. It’s attracting a negative press. Blockchain networks aren’t scalable enough, so adoption is slow. The governance model in public blockchains also has limitations.
On the other side of the coin, we have enterprises. They need data privacy, access control, and scalable networks. Public blockchains aren’t suitable for them, so they need enterprise blockchains. Enterprise blockchain implementation can be difficult due to lack of tools and frameworks. As this Enterprisers Project article shows, many CIOs need clarity about the technology. Constellation is working on providing solutions for businesses to utilize the technology.
A Capable Team
Constellation has the right capabilities for addressing blockchain adoption challenges. They’re building a scalable blockchain network without massively reducing nodes, since that can introduce vulnerability. They aren’t using the Proof of Stake algorithm either, because of its focus on wealth. Their blockchain is based on Directed Acyclic Graph (DAG) technology, which delivers a fast transaction throughput. The IOTA Foundation uses the same technology, and they have recently partnered with Volkswagen to use it in automotive IoT use cases.
“While market interest in blockchain is high, a clear understanding of the technology and real world use-case definitions are sparse and often misleading,” Benjamin Diggles, VP of Business Development and Head of the Global Ambassador Network at Constellation, said. “By launching and scaling a Global Ambassador Network, Constellation will be able to extend its reach into core industries to capture the minds of those looking to assimilate blockchain into their solution workflows.”
Their Global Ambassador Network includes enthusiasts such as Rehito Hatoyama, the former Managing Director of Hello Kitty; Ratul Saha, founder of GetonChain; and Julian Jung, Co-founder of Game Theory Crypto Group. The purpose of this network is to facilitate mass adoption of blockchain technology.
Hatoyama stated, “In 5 years, I believe blockchain will become the core technology for innovation, and I believe in Constellation Labs’s vision to bring decentralized technology to the next level.”