Guest post: Travin Keith, Founder, Agavon
After being in the blockchain space since 2013, it’s interesting to look back and see how far things have grown, both in the business use of blockchain as well as the development in the cryptocurrency space. I remember when only a tiny percentage of the technologies that were publicly known introduced anything innovative to the code initially introduced by Satoshi Nakamoto. While a lot of these projects still exist today where modifications are as small as modifying the total amount of tokens existing on the blockchain, there has been a large growth in the amount of innovative projects around the space, with more and more being introduced as interest in the technology grows.
Though I’ve been around since 2013, I took a two-year hiatus following the developments around the space to take care of some other things in life. When I came back in May 2016, I was astounded at the growth that has occurred, despite the cryptocurrency market not really reflecting this. Though not everything was perfect and there were still a number of unresolved issues, it was quite encouraging to see. I took a gamble and dedicated myself to catching up as well as learning more about the technology in-depth. The more I learned, the more impressed and interested I got. Eventually I started spurting out use cases from my head left-and-right as I tried to visualize how the technology could be applied. A lot of these ended up being shelved as there were limitations that I wasn’t aware of, as well as general economic restraints to the solutions I thought about. Still, this encouraged me to keep learning and I used these as benchmarks to see how far I’ve come.
However, even after spending countless hours dedicated to learning and researching, I’m still left with a large amount to learn. With the immense, and accelerating, speed of growth, it’ll be impossible for me, alone, to be able to keep up with the new developments around the technology. While it was one reason why I started my company, it’s also a primary reason why joining Hyperledger was one of the top things on our list after the company was created. After a year of being involved, I saw how beneficial it was to be an active member. Keeping up with the developments of the various frameworks became much easier and took up less time as I collaborated directly with those contributing to the code. Keeping up with the evolving sentiment around the blockchain space was also made easier as I collaborated with other companies, both large and small, as we worked on the various projects of the Marketing Committee. It’s a common misconception, though an understandable one sometimes, that dedicating key resources to a collaborative project is never the most beneficial use of these company resources. However, the amount of indirect benefits, such as valuable insights and networking, can justify the resources spent as more would’ve been needed otherwise. As a company with consulting services, these are direct benefits to us as it greatly increases our expertise in the space.
One of the other primary reasons for us joining Hyperledger is because interoperability is one of its goals as there are six frameworks under the organization. Because of this, there is a strong incentive for the consortium to dedicate resources towards this, especially since multiple members of the consortium have their own blockchain, or other distributed ledger technology, product. We share the vision of multiple frameworks existing in the space and are looking forward to participating in research and development on this front move forward, given the numerous growth possibilities when connections between public chains and private chains, whether permissioned or permissionless, are possible. These are exciting times and we’re happy to be part of it.