Blockchain is one of the most disruptive technologies of our times but has been seen by many as just another buzzword. Back in 2018, investor Michael Loeb organized the event “Block Or Not” to get to the bottom of the controversy.
Part of the “Or Not” series, the event was the result of a partnership between Loeb and Bonin Bough, two of the most influential investors and marketing gurus in the tech world. In the event, marketing and crypto experts engaged in a conversation around the potential blockchain technology has to change the world, as well as how it is being taken advantage of by those looking to take advantage of the hype it generates.
Some of the most influential organizations in the blockchain ecosystem participated in the event, including Chia Network, Consensys, Palmer Group, and IBM. The result was an experience that not only resulted in important connections being made but also in attendees learning more about blockchain and how it could be integrated with their operations.
Chia Network: From Concept To Reality
Chia Network was just a work in progress back in 2018 when its Co-founder and President Ryan Singer participated in Block Or Not. Back then, he expressed his surprise with the “utopianism” that plagued blockchain technology at the time as supposed pioneers looked to apply it to every issue that needed to be fixed.
Since then, Chia Network has worked hard to solve some of the issues that have made blockchain technology an unviable technology to be adopted massively. These issues included security, scalability, high energy consumption, and lack of accessibility, which the network addressed by creating “Proof Of Space.”
While Chia experienced incredible growth over the first months before plumbing down as a result of that same “utopianism” Singer criticized, the network has seen steady development now that the hype has died. The project has managed to increase the size of its ecosystem by establishing partnerships with other platforms, providing developers and users with additional benefits that promise to boost its growth over the next few years.
Consensys: A Pillar Of The Blockchain Industry
Founded in 2014, Consensys had already earned a reputation as one of the leading blockchain technology companies in the world by the time its CSO Sam Cassatt participated in the event. However, since then, the company has continued to expand its presence by becoming the trusted choice of giants like Amazon Web Services, Microsoft, Hitachi, EY, P&G, and more.
It is easy to underestimate how much Consensys has contributed to the growth of blockchain technology. However, when you consider that some of its products include Quorum, MetaMask, Codefi, and Diligence, it is easier to understand why the company has become essential for enterprises and individuals alike.
The company has also become one of the most important sources of research on the blockchain ecosystem, with its studies and reports helping regulators through their efforts to understand the disrupting technology.
If blockchain is a trustless computed global computer as Sam Cassat said back then in Block Or Not, Consensys would be the Motherboard. It allows other components to operate and provides the necessary resources to allow the computer to scale.
IBM: Adaptation At Its Best
IBM has been a household name in the technology industry ever since its founding in 1911. The reason behind the company’s success has been its ability to adapt, exemplified by its transition from creating hardware to focusing on the development of software.
The company applied this principle to blockchain technology, going as far as launching its own blockchain network back in 2017. While the network has not been widely adopted in the enterprise world, this is the result of a lack of knowledge about the technology. Organizations that have opted for enterprise-level blockchain networks have opted to use IBM’s solution.
The Palmer Group: Driving Blockchain Adoption
When Shelly Pamer, CEO of The Palmer Group, assisted Block Or No, he referred to blockchain technology by saying:
“Blockchain technology is open source and free to use by any developer who is competent. What is not in any way commoditized is domain expertise. That’s what you bring to any project.”
He has transferred that vision to The Palmer Group during all of its years leading the company, helping businesses to truly understand the limitations of blockchain and the need to think beyond the technology when applying it. This approach has resulted in multiple Fortune 500 companies accelerating their digital revolution by using blockchain technology.