It’s not every day that one sees a mainstream tech giant and a blockchain/cryptocurrency company on the same platform. So when IOHK’s, the name behind Cardano, chief executive Charles Hoskinson and Duncan Coutts, IOHK Director of Engineering walked into Google’s London office, everyone knew this is one of Google’s attempt to get a grasp of the new technology. And its selection of Cardano was not a surprise – may be a strong candidate to partner in the future.
Conversation in crisp
After a brief introduction from Charles on IOHK and Cardano, the questions started flooding the room. Questions about Cardano development were the firsts of many. Charles also went on to explain how its consensus protocol, Ouroboros, is using staking as a means to encourage people to participate and contribute to run the network. Development milestones and future timelines were in focus during the Q&A.
Major milestones of Cardona were also questioned like when a test network will be opened to Dapp developers who want to play around with smart contracts on the IELE virtual machine. There were also questions on the projects full decentralization of the network which is expected to be at the end of 2018, as part of the Shelley phase of development and about how developers could get involved with Cardano, and about the K framework, which is part of IOHK’s test smart contract capability. The conversation also turned towards where cryptocurrencies are headed.
Privacy coin was too on focus
One of the interesting topics of discussion was how cryptocurrencies will cater for privacy and would this be the area of focus for Cardano mentioning to both Monero and Zcash as more privacy-focused examples. To which Charles fabulously answered by saying
“So first, you have to understand that privacy is a spectrum, and also, it is one that carries the considerable regulatory discussion. For example, Japan just announced that they’re probably going to de-list all the privacy coins. So if we wish to be in the Japanese markets and we were to embrace Monero-style privacy, there’s a very low probability that Japanese exchanges will list Ada, which is a high priority for us.On the other hand, privacy is a moral right.
If you don’t have privacy in your system, you’re basically creating a system that your entire financial history is publicly known back to the beginning of time, since the system’s inception, which is dystopian to the max. So the best way of resolving this is to develop out some really good privacy options and implement them as improvement proposals, and then take advantage of the governance part of the system”.
Also when asked about the next big thing in the crypto space, outside of Cardano’s roadmap, Charles mentioned that
“there are a lot of concepts that have been sitting on the academic shelf for 25, 30 years, or emerging trends that we’re seeing in hardware or software that can now be dragged into the cryptocurrency space. I’ll give three examples: one is multi-party computation; two is trusted hardware, and three is a lot of PL [programming language] concepts”
This candid conversation between the to does look a good knowledge sharing session but could have the deeper meaning for both.
Is Google exploring blockchain? Is Cardano the partner for Google? Is there a future together for Google and Cardano? Do let us know your views on the same.
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Nilesh Maurya has been associated for past 8 years as an Investment Banker with Omega Capital, a bespoke Investment Banking outfit having offices in Mumbai, New York, Singapore, and Dubai. He has been a regular contributor to business publications such as Business India and Market Express and has been a mentor to many start-up companies. Nilesh Maurya has been associated for past 8 years as an Investment Banker with Omega Capital, a bespoke Investment Banking outfit having offices in Mumbai, New York, Singapore, and Dubai. He has been a regular contributor to business publications such as Business India and Market Express and has been a mentor to many start-up companies. Follow him on Twitter at @KoinKing1 or connect with me on linkedin.