...by Daniel Szego
"On a long enough timeline we will all become Satoshi Nakamoto.."
Daniel Szego

Thursday, April 12, 2018

On public blockchains and open innovation

There are several business model in the blockchain space at the moment, like public blockchains that are pretty much controversially at the moment like from Ethereum and of course the Hyperledger that is carried out in a classical business way installing nodes at different consortium members and doing project management in a classical way. The major advantage is however for a public blockchain solution that it maximally supports open innovation. If you are a developer or a couple of developers, you can easily deploy your smart contracts or DApp to the open blockchain and realize revenue on that. Classical consortium blockchains are playground of the big companies, having classical sales channels, requirement engineering, project management and organisational structures. Such a construct usually kills every kind of a innovation.

If project Hyperledger or Microsoft Azure Blockchain wants to keep up with the exponential changing blockchain world they need to create at least semi public blockchains with internal tokenomics, at which even if the nodes are hosted by different consortium members, every developer has the potential to create and host his own DApp solution and has the potential to earn money with that. 

Hackatons do not support open innovation.
The possibility of creating DApp-s by developers and realizing cash-flow on that without worrying on infrastructure or any big enterprise structure does support open innovation.