How could companies use a public blockchain?

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Companies use a public blockchain

Would companies use a public blockchain and potentially expose their data?

Hi everyone!

I have a fairly good idea of how I might use a public blockchain with my own projects to conduct transactions between users... but I was curious to how and why companies would want to expose any of their data to the public.

If not, could we really hope for mass adoption of blockchain technology?

Luckily I had the chance to chat to @andracy (Andrew Levine the CEO of the Koinos Group) where we could talk about how and why companies might use a public blockchain.... or the situations where they might use a private blockchain for a closed consortium of companies.

This chat is available on Cinnamon Video:

Companies use a public blockchain

If you'd prefer to watch it right here, feel free to watch this YouTube version:

Public blockchains for enterprises?

There are so many reasons and ideas here on why a company might want to use a public blockchain...

Andrew covers a whole range of ideas, but the one I was most interested in was to use resource credits/mana to help pay for business costs, or use NFTs to reward users. There is a lot in here to dissect.

There is a lot here that I could use myself, and I'm sure I'm not the only one. The idea that users could help pay for business costs based on how they use your system is super interesting... which may provide a mechanism for infinite scaling. Amazing!

If you're interested in previous chats with Andrew about Koinos, check out these posts:

Feeless Blockchain Transactions - How does it work?
Token distribution – Mining KOIN and Proof of Work
Integrating with Koinos
Smart Contracts – what are they?
A conversation with Andrew from the KOINOS Group

Here are all the good bits:

Koinos Website

Koinos Network Socials


Koinos Group Socials

Thanks so much for watching!

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Posted from my blog with Exxp :

Very exciting, I hope Koinos will get enough network effect.

Me too! I think it'll be one of those blockchains where developments in one area will help everyone... especially if developers are able to reuse or leverage smart contracts that others develop.

Companie uses a public blockchain for many reasons. I think they want to Increase efficiency and speed using blockchain.

I think it depends on the function.... blockchains are WAY slower than a private database, but WAY quicker for transactions, contracts, etc...