EOS' Dan Larimer Says All Businesses Will Use Blockchain in the Future

Block.one Chief Technical Officer (CTO) Daniel Larimer made an interesting observation about the blockchain industry in a recent interview with CNR, pointing out that the technology will “break through” to the mainstream once it becomes so ubiquitous that it is hardly even mentioned.

After his keynote speech at the recent Blockchain Live event in London, Larimer shared his thoughts on what he expects from the industry in the future. Larimer predicted that in the not so distant future, all businesses will be using blockchain.

Next, Larimer explained that most businesses will jump on board as a simple upgrade because the software will make their lives easier. Larimer stated:

To get from where we are today to there is a matter of getting the existing businesses and existing proven business models to upgrade their software to use blockchain give users greater security....Banks lose hundreds of billions of dollars every year to fraud, either from inside or outside. The biggest use cases are actually coming from the businesses which have these huge liabilities adopting the blockchain… Then their customers are going to benefit from it automatically and transparently.

Dan Larimer

Larimer also recognized that the industry has a lot of work to do in terms of making the software user friendly for the average user.

The other big use case is eliminating the need for constantly changing your password – or complex passwords – because that actually makes things harder for users. When people start making things easier, when blockchain actually makes people’s lives easier and more secure, that’s when it’ll get widespread adoption.

The technical barrier to entry has already been a problem for EOS, as CryptoGlobe reported, some users interested in EOS applications have had a difficult time learning to use them.

Larimer suggested that the early adopters of any new technology are going to be driven by a strong philosophical belief in the capabilities of that technology. However, a technology does not become a part of everyday life for most people until it is proven to make their lives easier with minimal risk and cost. Larimer concluded:

So far, the early adoption of Bitcoin and cryptocurrencies is very philosophical. It’s inherently limited to people who actually believe in the cause. That’s true with all early adoption. It’s true with electric cars. It’s true with blockchain.

Block.one Continues Washington, D.C. Push; IoT Startup Attracts Big-Name Crypto Investors

The top daily news from the cryptocurrency and blockchain space:

  • Block.one continues push into Washington, D.C. with lobbying involvement.
  • Helium attracts big-name cryptoasset investors as it launches peer-to-peer IoT device.
  • Angel investor, former Google director marks first hire for Square Crypto.

At the time of writing, bitcoin (BTC) and ether (ETH) are trading at $8,130.8 (+2.0%) and $260.3 (+4.9%), respectively. As for the MVIS CryptoCompare Digital Assets 10 Index, it is currently tracking at 4,043.3 (+0.5%).

Bitcoin Ethereum CryptoCompare

Block.one Continues Washington, D.C. Push as Lobbying Details Shared

Block.one – the publisher of the EOSIO blockchain protocol tied to the popular EOS (EOS) cryptocurrency – appears to be looking to influence blockchain policy conversation in the U.S. As initially reported on by The Block, the blockchain technology startup is cited as the client of lobbying firm Holland & Knight, LLP in a disclosure document filed in May.

The news follows efforts by the Hong Kong-headquartered Block.one over recent months to set up a new office in northern Virginia; a region that is adjacent to Washington, D.C. and home to various government institutions including The Pentagon (i.e., the United States Department of Defense headquarters) and the George Bush Center for Intelligence (i.e., the Central Intelligence Agency (CIA)).

Helium Launches Blockchain-Enabled IoT Device, Raises $15 Million

Helium, a San Francisco-headquartered startup using blockchain technology to facilitate wireless connections, announced the launch of its Helium Hotspot product along with the closure of a $15 million Series C fundraising round.

Some big-name venture capital firms partook in the $15 million raise. This included Kyle Samani and Tushar Jain’s Multicoin Capital and Union Square Ventures (USV), who each co-led the Series C round. In a blog post appearing on Multicoin’s website, Jain noted the fact Helium marked “the largest private investment [Multicoin has] made.”

Although initially launching in the U.S., Helium intends to expand network coverage internationally, chief operating officer Frank Mong mentioned in a Medium blog post published Wednesday evening (CET).

Ex-Google Director Marks Square Crypto’s First Hire

Square Crypto, the crypto-focussed entity of the Jack Dorsey-led payments company, Square, announced angel investor and former Google director, Steve Lee, as its first hire.

Most recently, Lee served as a product manager for Bitcoin Operations Technology Group (Bitcoin Optech), a group dedicated to bringing open-source technologies and techniques to Bitcoin-using businesses. Notably, Square hosted Bitcoin Optech’s inaugural workshop in San Francisco in July 2018.

While at Google, Lee led product management for mobile applications, Google Maps, as well as Google’s location platform. He was also a co-founder of Google Glass.