Would companies use a public blockchain and potentially expose their data?
I have a fairly good idea of how I might use a public blockchain with my own projects to conduct transactions between users… but I was curious to how and why companies would want to expose any of their data to the public.
If not, could we really hope for mass adoption of blockchain technology?
Luckily I had the chance to chat to @andracy (Andrew Levine the CEO of the Koinos Group) where we could talk about how and why companies might use a public blockchain…. or the situations where they might use a private blockchain for a closed consortium of companies.
This chat is available on Cinnamon Video:
If you’d prefer to watch it right here, feel free to watch this YouTube version:
Public blockchains for enterprises?
There are so many reasons and ideas here on why a company might want to use a public blockchain…
Andrew covers a whole range of ideas, but the one I was most interested in was to use resource credits/mana to help pay for business costs, or use NFTs to reward users. There is a lot in here to dissect.
There is a lot here that I could use myself, and I’m sure I’m not the only one. The idea that users could help pay for business costs based on how they use your system is super interesting… which may provide a mechanism for infinite scaling. Amazing!
If you’re interested in previous chats with Andrew about Koinos, check out these posts:
Feeless Blockchain Transactions – How does it work?
Token distribution – Mining KOIN and Proof of Work
Integrating with Koinos
Smart Contracts – what are they?
A conversation with Andrew from the KOINOS Group
Here are all the good bits:
Koinos Network Socials
Koinos Group Socials
Thanks so much for watching!
Please note : The above post may contain affiliate links.
Below are some product referral links that I love and will benefit us both if you’re interested.
Splinterlands – A super fun blockchain card game that I play almost every day.
Coil – A $5 USD monthly subscription fee provides you access to a ton of content and sites in a way that fairly rewards the creators of that content.
Exxp – The WordPress App to link your blog to the Hive blockchain.
NomadTask – Earn for completing online tasks like following accounts or completing reviews.
MINT Club – Create your own Smart Media Tokens with no coding required.