A fundamental problem is that blockchain is being developed in a proprietary, isolated way.

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A fundamental problem is that blockchain is being developed in a proprietary, isolated way. Anonymous Fri May 31 13:16:23 2019 No.13936896 [Reply] [Original]

In the 1990’s, online service providers created their version of the Internet, but users could only see content they provided. It was only when the networks were modified to communicate that the Internet flourished.

As it stands now, blockchains on different networks are unable to communicate with one another. That’s a big deal.

For example, in the not too distant future, self-driving cars will be common. If one car company builds its technology using a blockchain from X, and another car company builds its technology using Y, the two cars will be unable to communicate, and that failure will have dire consequences.

The lack of interoperability also creates risk for businesses and hinders widespread usage. Once a business starts on a system, it is effectively locked in. IF they start at all – given the isolated way in which this technology is being built it is leaving enterprise decision makers confused and uncertain as to which technology to adopt.

For us to fulfill the tremendous potential of blockchain technology, we must achieve interoperability.

I am now leading a team to create what we call an “Overledger” that will serve as a meta-gateway for the various blockchains available. The platform will ensure effective communication among the various options.

This will unleash the creativity of programmers by allowing them to design applications that can function across all blockchains.

To address standards, I founded the Blockchain International Organization for Standardization (ISO) project that now has 46 countries working together to develop practices by 2020. Partners include companies such as Sony, IBM and Microsoft, multiple startups, academia and governments around the globe.

- Gilbert Verdian

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