Written by Shashwat Srivastava
Representing ConsenSys at CogX 2018, chief of staff Jeremy Millar’s presentation said B2C models are demonstrating potential reach, particularly referring to the game CryptoKitties as the Victoria’s Secret of Blockchain.
The blockchain based virtual game developed by Axiom Zen, CryptoKitties allows players to purchase, collect, breed and sell various types of virtual cats. It represents one of the earliest attempts to deploy blockchain technology for recreational and leisurely purposes. The game’s popularity in December 2017 congested the Ethereum network, causing for it to reach an all-time high in transactions and slow down significantly.
ConsenSys, founded by Joseph Lubin in 2015, is a software foundry, working to develop decentralised software services and applications that operate on the Ethereum blockchain. The office, located in an old industrial building in Bushwick, Brooklyn, was described by The New York Times as “essentially one large room, with all the messy trademarks of a start-up operation, including white boards on the walls and computer parts lying around.”
The company focuses on facilitating the empowerment of people and enabling decentralised governance by developing software tools that devolve power from the traditional “command and control hierarchies inappropriate for a networked world.”
Millar also mentioned KYC to be deeply broken, and decentralisation being an optimal solution using blockchain technology to resolve the issue.