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    Business

    Epicenter – Learn about Crypto, Blockchain, Ethereum, Bitcoin and Distributed Technologies

    Epicenter brings you in-depth conversations about the technical, economic and social implications of cryptocurrencies and blockchain technologies. Every week, we interview business leaders, engineers academics and entrepreneurs, and bring you a diverse spectrum of opinions and points of view.

    Epicenter is hosted by Sebastien Couture, Brian Fabian Crain, Friederike Ernst, Meher Roy and Felix Lutsch. Since 2014, our episodes have been downloaded over 8 million times.

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    Copyright: © CC BY-NC-SA

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    Latest Episodes:
    David Andolfatto: The Impact of Central Bank Digital Currencies on the Banking Sector Dec 18, 2018
    Show notes

    Since the rise of digital currencies and cryptocurrencies, central banks are considering the role these new forms of money may play in our evolving digital economy. One of the ideas studied is the notion of a central bank digital currency. While people and companies can hold central bank liabilities in the form of cash, only licensed banks have access to digital cash accounts with central banks.

    We’re joined by David Andolfatto, VP of Research at the Federal Reserve Bank of St. Louis. David was previously on the podcast to discuss his idea for Fedcoin, a central bank issued cryptocurrency. In a recent paper, he explores the impact central bank digital currencies may have on the monopolistic banking sector.

    Topics covered in this episode:

    • The state of central bank research on digital currencies and cryptocurrencies
    • The idea that central banks may hold Bitcoin reserves
    • David’s new paper on the impact of central bank digital currencies (CBDC)
    • The potential impacts of CBDC’s on the banking sector and our economy
    • The role of fractional reserve banking in our economy
    • How fractional reserve banking applies to cryptocurrencies
    • The Debreu model and the need for money in an entirely liquid market
    • David’s outlook for the future of Bitcoin and cryptocurrencies

    Episode links:

    • Assessing the Impact of Central Bank Digital Currency on Private Banks (paper)
    • Smart Contracts and Asset Tokenization (article)
    • My perspective on the Bitcoin Project (article)
    • The Trust Machine: The Story of Bitcoin (article)
    • Fedcoin: On the Desirability of a Government Cryptocurrency (article)
    • David's last appearance on the podcast

    Thank you to our sponsors for their support:

    • Simplify your hiring process & access the best blockchain talent . Get a $1,000 credit on your first hire at toptal.com/epicenter.

    This episode is hosted by Brian Fabian Crain and Sébastien Couture. Show notes and listening options: epicenter.tv/266


    James Prestwich: Summa One – Cross-chain Financial Instruments and Contracts Dec 12, 2018
    Show notes

    While trustless interactions on Ethereum are native to the protocol, trustless interactions between the Ethereum blockchain and other blockchains are difficult to implement. Interoperability protocols heavily rely on atomic swaps, which typically come with a free option problem.

    For this episode we’re joined by James Prestwich, CEO at Summa. Summa designs and implements cross-chain financial contracts and instruments such as swaps, options, futures, and auctions. Summa recently conducted a dutch auction spanning the Bitcoin and Ethereum blockchains: Ethereum NFTs were auctioned off trustlessly to bidders on the Bitcoin network. We also discuss Riemann, a framework for deploying transaction scripts to UTXO-based chains, as well as the advantages of the predictability of transactions in UTXO-based chains and how to bring some of those advantages to Ethereum smart contracts.

    Topics covered in this episode:

    • James background in Japanese and how he became interested in blockchain
    • James contributions to Bitcoin Script
    • Summa’s recent cross-chain auction in which Ethereum NFTs were auctioned off to participants on the bitcoin network
    • Riemann, a framework for deploying script based transactions to UTXO blockchains
    • Atomic swaps leading to free options
    • Advantages of transaction predictability in UTXO based chains

    Episode links:

    • Summa Website
    • Cross-chain Auctions via Bitcoin Double Spends (article)
    • Statesless SPV (article)
    • Declarative Smart Contracts (article)
    • Introducing Reimann (article)
    • James Prestwich on Twitter

    Thank you to our sponsors for their support:

    • Deploy enterprise-ready consortium blockchain networks that scale in just a few clicks. More at aka.ms/epicenter.

    This episode is hosted by Friederike Ernst and Sunny Aggarwal. Show notes and listening options: epicenter.tv/265


    Nick Sullivan: Cloudflare – The Internet’s (De)centralized Security Blanket Dec 04, 2018
    Show notes

    We enter dozens of trust relationships ever time we interact with the Web. Browsers, ISPs, DNS providers, cloud hosting companies, all the way down to the handful of people who control certificate root keys; we rely on the integrity of these intermediaries to serve reliable, and accurate information. The concentration of power by any one of these actors threatens to compromise the very foundational principles of the Web. Decentralized technologies, like Bitcoin, Ethereum, Tor, and IPFS seek to reverse this trend.

    We’re joined by Nick Sullivan, Chief Cryptographer at Cloudflare. Founded less than 10 years ago, the company offers content delivery services (CND), DNS, and DDoS protection to over 12 million websites. The company contributes to open source cryptography libraries, some of which are used by Etherum. They recently launched an IPFS gateway and features which allow users to have strong guarantees as to the integrity of the content.

    Topics covered in this episode:

    • Nick’s background as a cryptographer and previous position at Apple
    • The Internet’s infrastructure and trust model
    • How Cloudflare is experimenting with IPFS
    • The challenges to hosting static websites with IPFS
    • Cloudflare’s Onion routing service (Tor) and the benefits to users
    • The Roughtime protocol and encrypted SNI
    • Cloudflare’s contribution to open-source cryptography libraries
    • The vulnerabilities of DNS and Cloudflare’s free private DNS service (1.1.1.1)

    Episode links:

    • Welcome to Crypto Week (article)
    • Roughtime: Securing Time with Digital Signatures (article)
    • Introducing CFSSL - CloudFlare's PKI toolkit (article)
    • End-to-End Integrity with IPFS (article)
    • Introducing the Cloudflare Onion Service (article)
    • Cloudflare's Distributed Web Gateway
    • Nick Sullivan's website

    Thank you to our sponsors for their support:

    • Deploy enterprise-ready consortium blockchain networks that scale in just a few clicks. More at aka.ms/epicenter.

    This episode is hosted by Sébastien Couture and Sunny Aggarwal. Show notes and listening options: epicenter.tv/264


    Justin Drake: Ethereum’s Audacious Roadmap to Build a True World Computer Nov 27, 2018
    Show notes

    The Ethereum vision has always been to create a world computer. But its scalability and performance limitations have meant that it has fallen far short of that vision. Yet, work on scaling Ethereum has exploded in breadth and complexity over the past years. From variants of PoS, to Plasma / Plasma Cash, sharding, EWASM, BLS signatures, everything has been on the table. While confusing on the surface, underneath a coherent vision for a new Ethereum that will scale near infinitely has emerged.

    We were joined by Ethereum Researcher Justin Drake to discuss the Ethereum Serenity vision, its core components and the roadmap ahead. A particular focus was the beacon chain, the role of randomness and Verifiable Delay Functions.

    Topics covered in this episode:

    • Justin’s previous project building on top of Open Bazaar
    • Why he made the switch from application development to Ethereum consensus research
    • The high-level vision for Ethereum 2.0 / Serenity
    • The Ethereum Serenity roadmap to scaling the world computer by 1m times
    • The crucial role of the beacon chain
    • The difference between Ethereum Serenity and Polkadot
    • The role of randomness in making Ethereum Serenity work
    • The limitations of existing trustless sources of randomness
    • How Verifiable Delay Functions can be used to create better randomness
    • The Ethereum Foundation plans to develop an open-source VDF ASIC

    Episode links:

    • DevCon4 Talk by Justin Drake about VDF & Randomness
    • DevCon4 Talk by Vitalik Buterin about Ethereum 2.0
    • VDF Research
    • Minimal VDF randomness beacon - Sharding - Ethereum Research
    • Ethereum Project
    • Two Point Oh: Explaining Validators
    • Two Point Oh: The Beacon Chain

    Thank you to our sponsors for their support:

    • Deploy enterprise-ready consortium blockchain networks that scale in just a few clicks. More at aka.ms/epicenter.

    This episode is hosted by Brian Fabian Crain. Show notes and listening options: epicenter.tv/263


    Brian Behlendorf: Hyperledger – From Blockchain Hype to Production Networks Nov 20, 2018
    Show notes

    Most observers of the ecosystem will probably agree that 2015-2017 were the years of the enterprise blockchain. It was during that time that many startups catering to enterprise were founded and funded, including Monax and Stratumn (where Brian and Sebastien previously worked). For the permissioned blockchain camp, adoption would come in the form of enterprise use cases, arguing that public networks carried too much risk, and lacked needed features like privacy. While much of the hype has subsided, large companies in every sector are forming consortia and leveraging blockchain to provide better process traceability and transparency, and reduce their reliance on third parties.

    We’re joined by Brian Behlendorf, Executive Director of Hyperledger. When Brian was last on the show, he had recently started his role at the Linux Foundation. Now, two years later, Hyperledger has gone from a nascent project to a mature ecosystem of technologies with hundreds of members. With dozens of networks in production, and backed by companies like IBM, Hyperleger is the most widely used blockchain technology for permissioned networks.

    Topics covered in this episode:

    • The most important developments in Hyperledger in the last two years
    • Hyperledger’s family of technologies
    • Production networks on Hyperledger
    • How Hyperledger Fabric differs from Tendermint and Ethereum
    • The evolution of the enterprise blockchain ecosystem
    • The separation between the permissioned and public blockchain ecosystems
    • Industry use cases for Hyperledger Fabric
    • Brian’s skepticism about ICOs and tokens
    • The growing Hyperledger community and upcoming Global Forum in Basel this December

    Episode links:

    • Hyperledger website
    • Hyperledger Global Forum
    • http://sdxcentral.com
    • Unbounded - To Network with Networks
    • Pittsburgh, Cincinnati, Chicago and St. Louis Railroad - Wikipedia

    Thank you to our sponsors for their support:

    • Simplify your hiring process & access the best blockchain talent . Get a $1,000 credit on your first hire at toptal.com/epicenter.

    This episode is hosted by Brian Fabian Crain and Sébastien Couture. Show notes and listening options: epicenter.tv/262


    Ben Sharafian & Stefan Thomas: Coil – A New Business Model for the Web Nov 13, 2018
    Show notes

    The difficulties of compensating content creators for their work has been a driving force of the web for decades. It gave rise to advertising-driven tech giants like Google and Facebook and contributed to the decline of industries like music and publishing. Coil aims to change this and leverage blockchain and the Interledger Protocol to build a new business model for the web.

    We were joined by Coil Founder and former Ripple CTO Stefan Thomas and Coil Co-Founder Ben Sharifian to discuss their ambitions to change how content is consumed and paid for.

    Topics covered in this episode:

    • What web monetization is
    • The difference between web monetization and web payments
    • The negative effects of advertising-driven business models
    • What the Interledger Protocol (ILP) is
    • The current state of ILP
    • Why Stefan and Ben decided to leave Ripple and start Coil
    • The case for web monetization as an initial use case for Coil
    • The idea of users paying a fixed bandwidth per second to content creators
    • Possible user experiences that could be built on top of Coil
    • How to bootstrap Coil and get adoption

    Episode links:

    • Coil Website
    • Coil: Building a New Business Model for the Web
    • Layer 3 Is for Interoperability
    • Talk about Ripple and Coil at TOA18 - Stefan Thomas
    • E92: Stefan Thomas - Understanding Ripple
    • E131: Evan Schwartz & Stefan Thomas - Building the Internet of Payments with Interledger

    Thank you to our sponsors for their support:

    • The open, decentralized trading protocol for ERC20 tokens using the Dutch auction mechanism. More at epicenter.tv/dutchx.
    • Deploy enterprise-ready consortium blockchain networks that scale in just a few clicks. More at aka.ms/epicenter.

    This episode is hosted by Brian Fabian Crain and Sunny Aggarwal. Show notes and listening options: epicenter.tv/261


    Devcon4 Recap – From HODL to BUIDL Nov 06, 2018
    Show notes

    It’s that time of year again, Devcon time! Just as the conference was wrapping up, we sat down at the Prague Congress Center for a Devcon4 recap. Join Brian, Friederike, Sebastien, and a surprise guest host as we share our thoughts on the event, and how the Ethereum ecosystem has evolved since we last met in Cancun.

    Topics covered in this episode:

    • Devcon4 compared to Devcon3
    • Changes to the Ethereum Foundation management
    • Serenity (Ethereum 2.0) roadmap
    • The shift from HODL to BUIDL
    • The apparent departure of ICOs from the landscape
    • The growth of grant programs
    • Brian’s talk at the Generalized Mining panel
    • This year’s emphasis on security
    • Web3 Summit in Berlin the previous week

    Episode links:

    • Devcon4 website
    • Devcon3 recap episode from Cancun

    Thank you to our sponsors for their support:

    • Simplify your hiring process & access the best blockchain talent . Get a $1,000 credit on your first hire at toptal.com/epicenter.
    • Deploy enterprise-ready consortium blockchain networks that scale in just a few clicks. More at aka.ms/epicenter.

    This episode is hosted by Brian Fabian Crain, Friederike Ernst and Sébastien Couture. Show notes and listening options: epicenter.tv/260


    Gavin Wood: Substrate, Polkadot and the Case for On-Chain Governance Oct 31, 2018
    Show notes

    From one of the main Ethereum clients, to Polkadot to Substrate; Parity has become exceptional at developing successful open-source blockchain projects. Their latest effort Substrate provides a framework to easily create custom blockchains. Building on cutting-edge technologies like Web Assembly, Substrate also offers automated on-chain upgrades.

    We were joined by Gavin Wood, who was previously co-founder and CTO of Ethereum and founded Parity. We talked about the early Ethereum days, how Parity got started, Substrate, Polkadot and his views on on-chain governance.

    Topics covered in this episode:

    • The genesis story of Ethereum
    • Why Gavin prefers reasoning from first principles to reading
    • How Parity shunned Silicon Valley principles to build an developer-driven company
    • Why they decided to work on a scalable blockchain from scratch instead of improving Ethereum
    • An overview of Substrate
    • The relationship between Substrate and Polkadot
    • How Substrate allows switching consensus in a live blockchain
    • Why Ethereum’s governance process is centralized
    • Polkadot and the case for on-chain governance

    Episode links:

    • Parity Technologies Website
    • Polkadot Website
    • E199 - Peter Czaban - Polkadot: The Internet of Blockchain Networks
    • Substrate: A Rustic Vision for Polkadot by Gavin Wood at Web3 Summit 2018
    • Substrate in a nutshell
    • What is Substrate?
    • How Polkadot tackles the biggest problems facing blockchain innovators
    • Substrate testnet launched
    • Epicenter episode from 2014 with Gavin Wood about Ethereum & Ether Sale

    Thank you to our sponsors for their support:

    • Deploy enterprise-ready consortium blockchain networks that scale in just a few clicks. More at aka.ms/epicenter.
    • Simplify your hiring process & access the best blockchain talent . Get a $1,000 credit on your first hire at toptal.com/epicenter.

    This episode is hosted by Brian Fabian Crain and Meher Roy. Show notes and listening options: epicenter.tv/259


    Monica Quaintance: Kadena – Public and Permissioned Blockchains that Scale Oct 23, 2018
    Show notes

    We’re joined by Monica Quaintance, Head of Engineering and Adoption at Kadena. While most companies providing enterprise solutions focus primarily on permissioned systems, Kadena is building both a public network protocol and private blockchain infrastructure. Their Chainweb protocol will soon launch as a public network and smart contract platform. The company claims their novel approach to proof of work offers enormous gains on transaction throughput, even at scale, while benefiting from the same security as Bitcoin. Alongside Chainwebs, Kadena is building a permissioned protocol more suited for enterprise applications in insurance and finance.

    Topics covered in this episode:

    • Monica’s background at the SEC
    • The genesis of Kadena and why the founders left JP Morgan
    • Kadena’s unique approach to building both public and permissioned protocols
    • The Chainweb protocol and it’s approach to proof of work
    • The incentive mechanisms in Chainweb
    • How Chainweb protects itself against common attack vectors
    • The PACT smart contract language
    • Kadena’s enterprise blockchain offering
    • The company’s go-to-market strategy and business model

    Episode links:

    • Kadena Website
    • Chainweb Whitepaper
    • ChainWeb Protocol Security Calculations White Paper
    • Kadena White Paper
    • Confidentiality in Private Blockchain White Paper
    • The Pact Smart-Contract Language White Paper

    Thank you to our sponsors for their support:

    • The open, decentralized trading protocol for ERC20 tokens using the Dutch auction mechanism. More at epicenter.tv/dutchx.
    • Deploy enterprise-ready consortium blockchain networks that scale in just a few clicks. More at aka.ms/epicenter.

    This episode is hosted by Meher Roy and Sébastien Couture. Show notes and listening options: epicenter.tv/258


    Kevin Owocki: Gitcoin – Aligning Incentives in Open-Source Development Oct 17, 2018
    Show notes

    Building open source software is a collaborative process which relies on good faith and willingness of volunteers. While most of the software we use daily relies heavily on open-source libraries, incentive models are broken. Repo maintainers are eager to see their projects evolve, but have little leverage to encourage developers to contribue. And projects contributors create enormous value by dedicating their time and expertise while getting little in return. Both open and closed-source projects utilize bountied to source engineering talent. Combined with blockchain technologies, there is a potential to create efficient, two-sided markets which align incentives for all participants.

    We’re joined by Kevin Owocki, who is the Founder of Gitcoin. The Ethereum-based platform leverages the open source community to incentivize and monetize work, remunerating developers for pull requests made to projects. Gitcoin was itself built using Gitcoin and is today facilitating bug bounty payments for dozens of blockchain projects. At the time of writing, over 200 projects have used the platform to distribute over $340,000 in bounties to developers. As Gitcoin continues to grow, the goal is to expand its reach to the broader open-source ecosystem.

    Topics covered in this episode:

    • Kevin’s background as a software engineer
    • The fundamental challenges in open-source development and funding
    • What is Gitcoin and how it addresses incentive alignment
    • How Gitcoin works from the perspective of both project funders and contributors
    • The platforms usage statistics (projects funded, contributors, bounties paid, etc.)
    • How Gitcoin may be used to fund closed-source bountied and public goods
    • Kevin’s proposal for recurring payments in Ethereum (EIP1337/ERC948)
    • How Gitcoin is funded and the project’s business model
    • Gitcoin’s roadmap moving forward

    Episode links:

    • Gitcoin website
    • Gitcoin leaderboard and top earners
    • Gitcoin stats
    • 1337 Alliance
    • EIP 1337 - Subscriptions on the blockchain
    • ERC948 - Recurring Subscription Models on Ethereum
    • Delphi Systems
    • Bountysource

    Thank you to our sponsors for their support:

    • The open, decentralized trading protocol for ERC20 tokens using the Dutch auction mechanism. More at epicenter.tv/dutchx.
    • Deploy enterprise-ready consortium blockchain networks that scale in just a few clicks. More at aka.ms/epicenter.

    This episode is hosted by Friederike Ernst and Sébastien Couture. Show notes and listening options: epicenter.tv/257


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