2019 will be the year of smart supermarkets and drugstores. Interview with ConsenSys
Executive Director at ConsenSys Research and Advisory https://consensys.net/, Tom Lyons is sharing his views on the dApps market rise and perspectives, its readiness for mass adoption and consumer orientation.
More interesting speakers and topics here: http://bit.ly/BLSsummit, https://www.facebook.com/blockchainleadershipsummit/.
What is ConsenSys?
ConsenSys is arguably one of the largest blockchain companies in the world with 1,300 people in over 30 countries. Our headline mission is to build the operating system of the decentralized world. Basically, the idea is to implement basic Ethereum ecosystem to various spheres. We have a venture studio that incubates projects — we have around 50 projects going on right now in all sorts of use-cases of the blockchain. Also, we have ConsenSys solutions, enterprise consulting, ConsenSys Academy, which does developer and decision-maker education, and the ConsenSys Capital, investment platform. We also are very active in facilitating the Ethereum infrastructure, so you might have seen an enterprise client the Pantheon. All we do is pretty much everything around the Ethereum ecosystem.
The current market of dApps
The current situation of the Ethereum development is intriguing — the number of apps continues to explode, up by 30 times over the last year, though there is no sheer number of those going live. On the other hand, there is not a particularly high number of users per dApp: a lot of work being done without mass uptake. That certainly shrinks the trade, though not affecting the value of useful products and services, being made daily. Importantly enough, we at ConsenSys consider monetary value secondary, even though we can create and share this very clear indicator of value, tokens, in case we need to receive additional support.
Mass adoption of the distributed ledgers is going to directly cause the next industrial revolution, in my belief. At ConsenSys, we are preparing for the mass adoption of several hot developments, for example, the Supply Chain, Securities Custody, Commodities Trade Finance, based in Geneva. Basically, the areas to hit consortiums of wide markets interests.
The nearest future predictions for the dApps development
2019 is going to become a large consortiums headlines time, pushing the mass adoption towards reality. That is sure going to affect even those not directly involved with the blockchain: a lot of user-centric identity of the development is there to come. People are going to fully understand what’s interesting about the blockchain possibilities. Take the Supply Chains, soon enough you will be able to go to the store, point your phone at the steak or tomato, and see all the detail on where it came from. Same with pharmaceuticals. If you get that kind of an overview, you gain more trust in these Supply Chains.
I happen to be a fan of the decentralized autonomous organization, being curious to see how people start using blockchain to build the micro-communities among themselves. As people see and get used to the decentralization happening on a local level, that’s when a spike in mass adoption will come. People will say: “That works in my community. Why not at my work?” After companies, countries will follow.
To catalyze the mass adoption we will need a highly successful consumer’s app. People need to see the value of safety, cheapness, facilitation to follow. That sure is going to take time, as the technology is still very young. To be completely honest, infrastructure is still not able to cope with mass users for now: no scalability, no super blockchain use-case yet.
We at ConsenSys definitely have several pilots to be launched soon, that could become a next big shot in the blockchain world. I would love to share upcoming insights and take deep dives into some promising use cases.
Tom has also promised to spread the knowledge with all the interested parties at the Summit. Be quick to assure a meeting with him!