These industries will benefit most from optimized blockchain technology


Some sectors will be blushed by the success thanks to the high throughput of Zilliqa and will have transparency "because" they can verify how the supply chain actually works in a digital advertising scenario, "Zilliqa's Amrit Kumar tells Dan Patterson of TechRepublic. ;interview.

Dan Patterson: Amrit and Ilya, this is a question for both. Which sectors are likely to benefit or rely heavily on smart contracts and will benefit from this optimization method?

Ilya Sergey: Amrit?

Amrit Kumar: Ok, yes, of course. There are two aspects here. One is the applications that actually require very high throughput provided by Zilliqa. Any application that you can actually imagine, even the simplest ones like payments, where you want to be something like Visa, for example. You want to have a throughput that actually matches that of Visa.

There is an application, which is very interesting, and it is not there yet. If you look at Bitcoin and Ethereum, people are not able to use it as a payment method because of its scalability problems.

The other applications we are currently working on are digital advertising. There is a company called Mindshares, which is one of the largest companies in digital marketing. And they want to build something like a supply chain for ads. They want to do it on a blockchain because you will have transparency and can check how the supply chain actually works in a digital advertising scenario.

SEE: 6 industries that are using blockchain to drive corporate value right now (TechRepublic)

And then again, if you look at their throughput requirements, there are billions of transactions a day. This is something that current blockchains can not handle. So this is the aspect in which scalability is required.

The other aspect that Ilya spoke about is the scenarios in which we want to ensure that the contracts require strong security and blindness. You do not want to distribute an application where an intelligent contract starts to lose funds for, say, other parts. Therefore, any application where high throughput and high security is required is something we are working on.

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