The establishment of the US-based nucleus team at Hcash is a move which will propel the company to the forefront of Blockchain technology. The current aim of the development team, concerning the direction of Hcash, is focused on interoperability, private transactions, security, quantum resistance, while maintaining a high transaction speed.
The event, held at the Cisco Meraki building in San Francisco, was lead by the two leaders of the nucleus team.
Mo Sen is a distributed systems engineer with a background in computer science at Purdue, Stanford and Tsinghua Universities. With over a decade of software development experience, he has led infrastructure development projects with clients including Citrix, Google/Motorola and numerous others.
John Woeltz is an applied cryptographer with over 5 years of experience developing, architecting and applying cryptography for Blockchain software and firmware ranging from the world’s first SCRYPT ASIC miners, to Artificial intelligence data gathering, and model building.
The two will be leading a team of core developers, as well as a team of ecosystem developers across Silicon Valley and the US, and will be coordinating with teams across Asia to develop Hcash.
The panel was a highlight of the event. Speakers Mike Pozmantier, Nipun Gupta and Paul Neubecker are all highly knowledgeable not only in their respective fields, but in the Blockchain sphere. They gave some very interesting and relevant insights.
Mike, who is a security consultant, having worked for the US Department of Homeland Security’s cybersecurity research department, spoke about cryptography, as the central focus of most forms of cyber security. He described Blockchain-based, decentralised systems, which have cryptography built in from their inception, as having natural advantage, in terms of security. This is especially useful for enterprise use. He brought some of Ethereum’s current weaknesses to light, explaining that Hcash solves these issues by having considered them from the beginning of the project. He continued with an emphasis on how useful Blockchain technology is from a government’s perspective, especially in sectors such as IoT, border protection, identity management, and voting systems. He finally pointed out that a main issue with the current Blockchain industry, is that individuals need to be technically proficient in order to become users of the technology, creating a barrier to entry and a hinderance for widespread adoption, which is overall negative for the industry.
Nipun works with Deloitte’s innovation Partnerships team, with a focus on quantum computing and cryptography, having previously worked as a security engineer with iSec Partners, and PwC. From his perspective, even though quantum computing may be 5-10 years from becoming practical, there needs to be work done on ensuring the readiness of a defence system, especially for the sensitive information a Blockchain can contain. He explained that the encryption system Hcash has decided to implement is robust for the reason that it has been around for longer than other options, giving developers a chance to poke holes in the system, and improve its robustness over time. He then described the lack of adoption of Blockchain systems by large corporations in the past, and how that is quickly changing, with big players such as IBM having created their own internal Blockchain systems, and Google having contributed technology to public Blockchains.
Paul is a founder of Blockchain Buffalo and brings an investor’s perspective to the panel. He has previously worked as a senior associate in the banking and capital markets group with PriceWaterhouseCooper, and currently works in venture capital, at Softbank Capital NY. Paul expressed his concern with most Blockchains current inability to scale to meet their rapidly increasing demand, and the need to increase the amount of transactions they can handle, also to meet demand. The second focus was privacy, with Paul’s view being that privacy is fundamental to a cryptocurrency, users needing a sense of freedom to feel fully comfortable using the technology. He also touched on quantum resistance, stating that it is interesting to consider which populations in the world will benefit the most from the development of these countermeasures. He explained that those who live in parts of the world where relationships with the nation state are most fractured, have the highest need for this, as governments are the most motivated and well resourced in being able to censor or seize unwanted technologies. He explained, that in terms of a prudent investment strategy, there needs to be a valid reason for the project in question to run on a Blockchain, with an incentive structure to keep the project running in a truly decentralised fashion. In the long term, utility is what adds real value to a token. The more useful and practical a coin is, the more demand there will be, and if supply is fixed, the price will naturally increase.
Mo brought the panel discussion to a close by stating: “Hcash is improving on Blockchain technology by aiming to be an interoperable network, and its foundation is looking to collaborate with many projects such as Ethereum and other cryptocurrencies for mutual and industry benefit. Describing itself as an information carrier between Blockchains, Hcash will enable the exchange and value between differing Blockchin systems.”
With the efforts of current teams, lead by the expertise of the nucleus team, Hcash hopes to keep up with the leading edge of innovation, whilst maintaining relationships with its community, exchanges, other projects and research partners.
This is a sponsored press release and does not necessarily reflect the opinions or views held by any employees of The Merkle. This is not investment, trading, or gambling advice. Always conduct your own independent research.
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