LAS VEGAS – As the world begins to learn about the blockchain, a local professor is able to accelerate because he has been researching the new technology for about two years.
For the second time in two weeks, Las Vegas will host a convention on digital money. A lot of focus on World Crypto Con has been on blockchain. The new technology is the backbone of cryptocurrencies like bitcoin.
Among the exhibitors there is a professor of computer science at the UNLV by the name of Yoohwan Kim.
"We're doing some blockchain research," Kim said.
Kim's story is in, and for a couple of years, he's looking for blockchain.
"In fact, blockchain is the main thing that interests us because blockchain has great potential," Kim said. "They can change our society."
He wants to find solutions to problems with the use of this new technology including scalability and speed.
"Right now the Ethereum bitcoins can make a transaction maybe two to three, maybe five transactions per second that is too slow, so my research is about changing that perspective," Kim said.
Also the regulation of the blockchain was satisfied with the reaction of the mixture.
"While people are sort of speakers, they are sometimes talking about regulating the industry," said Stewart Rogers, a VentureBeat analyst. "Actually, I think it must happen, we are already seeing the entry into force of some regulations in the United States, the FCC, their participation, and they are putting their things in, in different countries".
People like Rogers can only try to predict the future of the blockchain, but it is attracting the attention of technology experts who believe it can become mainstream.
"Blockchain can give you trust among many people," Kim said.
Companies all over the world are already using blockchain. The brewing company, Anheuser-Busch, started using the technology a few months ago.