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Call Blockchain Developers What They Are: Fiduciaries

The DAO heist and subsequent reversal of funds on the Ethereum blockchain demonstrate why developers and miners of public blockchains should have more accountability.

The recent hack of the DAO (short for Decentralized Autonomous Organization) and the subsequent reversal of funds on Ethereum’s blockchain should finally put an end to a decentralization charade. People are, in fact, governing public blockchains, and we need to be able to trust them.

From the beginning, the core developers (who write, evaluate and modify the software code) and the powerful miners (holders of significant chunks of computing power within the network) have been the governing bodies of these so-called decentralized systems. Yet the romance of decentralization — with the seductive idea that we don’t have to trust anyone because no human is doing anything — has allowed many to overlook this important truth. Weiterlesen

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Ethereum Used for ‘First’ Paid Energy Trade Using Blockchain Tech – CoinDesk

The Ethereum blockchain is being used by Transactive Grid to log energy created by solar panels so that it can be sold to neighbors connected to the grid.

Two Brooklyn residents used the Ethereum blockchain today to facilitate a transaction that let one sell energy directly to the other.

The neighbors accomplished the exchange thanks to LO3, a green energy startup working to do to the energy industry what blockchain is already doing to banks.

LO3 co-founder Lawrence Orsini said that the exchange is designed to demonstrate how everyday people can use blockchain to facilitate peer-to-peer exchange.

Orsini told CoinDesk:

“All the projects that we’re working on are squarely focused on the emerging distributed economy, peer to peer concepts. They’re all squarely focused on distributing and decentralizing assets into communities, into people’s hands, the new economy of the future.”

A new kind of partnership

The joint effort called TransActive Grid, struck between between LO3 and decentralized applications startup ConsenSys, allowed Brooklyn resident Eric Frumin to sell excess renewable energy generated from his own solar panels directly to Bob Sauchelli, a former program…

Quelle: Ethereum Used for ‘First’ Paid Energy Trade Using Blockchain Tech – CoinDesk

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