If you believe blockchains will proliferate in the coming years, it stands to reason that you will need some sort of mechanism to move information between them, a network of blockchains with bridges and processes for sharing information between entities. That is exactly what The Aion Network is providing with a new blockchain network released today.
The company wants to be the underlying infrastructure for a network of blockchains in a similar way that TCP/IP drove the proliferation of the internet. To that end, the company, which originally began as a for-profit startup called Nuco, has decided to become a not-for-profit organization with the goal of setting up protocols for a set of interconnected blockchains. They now see their role as something akin to the Linux Foundation, helping third party companies build products and creating an ecosystem around their base technology.
“The core design of network we have been building is to connect various networks, and route data and transactions through a public network. We are launching that network today. It allows you to build bridges to other blockchain networks. That public network acts as relayer between blockchains,” Matthew Spoke, CEO and co-founder at Aion Networks told TechCrunch.
While there clearly could be security concerns with a public by-way for blockchain data moving between systems, Spoke says that can be minimized. Instead of transmitting a medical record between a hospital and insurance company, you send a proof that the person had an operation, which the insurance company can check against the coverage rules it has created for that individual and vice versa.
The idea behind this venture is to provide the underlying plumbing to encourage more highly scalable blockchain use cases. Spoke and his team once ran the blockchain practice at Deloitte before starting this venture, and they saw roadblocks to scaling first-hand. “When we were doing enterprise projects, our biggest realization was that the plumbing wasn’t sophisticated enough. The scaling wasn’t meeting specs that enterprise companies would need long term. Because of that, we were not seeing anyone moving beyond proof of concept projects. What we are doing is trying to mature the possible use cases,” he said.
In order to drive adoption, the company is introducing a token or cryptocurrency to be used to move data across the network and build in a level of trust. Spoke believes if the users have skin in the game in the form of tokens, that could create a higher level of trust on the system.
“Instead of paying for infrastructure, you are going to pay to be part of a common trusted protocol. It comes down to the mechanism of consensus and being incentivized to do business in an honest way,” Spoke said
This is probably not something that will get adopted widely overnight. Just because they have built it, they still require a level of utilization for it to really take off, and that will require more blockchain projects. “We still need a few years of pure focus on infrastructure to make sure we are getting these layers right. Every time you move data of any kind there are security vulnerabilities and we need to make sure there are good specs and comfort in using it,” he said.
from TechCrunch https://tcrn.ch/2HrndtB
from Mashable! https://on.mash.to/2qYFdjZ
- The startup MetaX wants to use blockchain technology to create a list of safe websites for advertisers.
- Consumers and people in the ad industry will be able to purchase crypto tokens to vote on which publications are included on the adChain registry.
- Dave Strauss, director, revenue operations & analytics at Hearst, believes the concept will resonate with professionals and regular people.
- The hope is that this list is employed industry wide, which will make it harder for ad fraudsters to operate and send more business toward reputable publishers.
Lots of startups has emerged in the past year promising to use blockchain technology to track digital advertising transactions.
MetaX says blockchain can actually keep brands out of trouble.
The company, which is working on a slew of blockchain-based products for digital ads, is introducing the adChain registry, which promises to help the ad industry establish a universal list of websites that are safe for everyone.
Anyone, from consumers to ad tech executives to marketers themselves, can vote on which sites are included on the registry using tokens they purchase on the web, and their votes will be recorded automatically via the Ethereum blockchain.
There are 600 million such tokens available, with secondary market values starting at around 6 cents each, said Alanna Gombert, MetaX global chief revenue officer. There is a 1 billion token cap on adToken.
Even at that price, it’s hard to know whether the average person will open his or her wallet to pay to vote on which sites are brands safe. That’s if they even understand what cryptocurrency or blockchain is. It’s not always that easy to get people to pay for content on the web.
Still, Dave Strauss, director, revenue operations & analytics at Hearst, believes the concept will resonate with professionals and regular people. “This has potential to make significant strides for our industry as it pushes for transparency in the marketplace while including valuable input from the typical internet user," he said.
Over the past few years digital advertising has been plagued by scam artists selling tons of ads on bogus websites visited only by bots, and all sorts of other forms of fraud. That’s led to numerous big name brands either wasting money on ads that nobody sees or finding their ads next to inappropriate content.
As a remedy, many advertisers have employed either ‘black lists’ (sites they want to stay away from) or ‘white lists’ (a limited number of sites they want to run ads on) for their programmatic campaigns.
Theoretically, a universal lists of safe sites that the broader community manages collectively would have broad appeal. Particularly one using blockchain tech, so that the list can’t be manipulated by anybody.
Over time, if such a list became robust and widely used, it would make it harder for fraudsters to operate, as advertisers would restrict their spending on approved sites – so the thinking goes.
That is, if people care enough to buy virtual tokens and vote on who makes it.
Gombert believes that consumers are passionate enough about digital experiences that some will buy tokens and vote. Initially, she predicts that ad operations staffers from major publishers will pounce on this opportunity, since they are the people that live and breathe all of digital advertising’s ills.
"They don’t get to speak publicly often, and they’re so frustrated with these issues," she said.
But won’t publishers be able to buy up lots of tokes and rig the registry to favor their sites? Gombert says there are various safeguards built into the system to prevent this sort of thing. For example, there is deliberately a lag built into the system so that sites don’t get voted in instantly.
And people can get locked out of using tokens if they buy too many too fast. Plus, voters won’t be able to unilaterally kick any publishers off of the adChain registry.
"You can propose to vote someone out of the registry but the community needs to agree with you," said Gombert.
from SAI https://read.bi/2HOktFS
from Engadget https://engt.co/2qV7IQp