As enterprises begin to adopt blockchain technology in order to optimize their systems and processes in ways that simply cannot be done with other technologies, the likelihood that their customers will know or care could be low. After all, once deployed in enterprise fashion, blockchain typically occupies a fabric-like spot within the organization's enterprise information technology stack. In other words, not necessarily at the customer-facing surface. And there's no industry where this could be more true than in the telecommunications and carrier business where the sorts of integrations that make it possible for people to call or text their friends and families across different carriers are fraught with technological and settlement challenges due to lack of a single source of truth. As Syniverse Sr. Distinguished Engineer of Emerging Technologies Monique Morrow explained to Blockchain Journal editor-in-chief David Berlind at World Economic Forum 2023 in Davos, Switzerland, both Syniverse (which itself is in the SMS fabric of hundreds of carriers) and the GSM Association (GSMA) where she chairs the GSMA-Distributed Ledger Technology Group have a pretty clear understanding of the business problems that blockchain can solve in the telecommunications industry.

To watch the video version of this podcast or read its full-text transcript, go to:
https://blockchainjournal.com/interview/how-sms-messages-and-other-carriergrade-services-could-be-moving-enterprisegrade/

The video can also be watched on Blockchain Journal's YouTube Channel at https://www.youtube.com/watch?v=t_1hDvagNAM

How SMS Messages and Other Carrier-Grade Services Could Be Moving to Enterprise-Grade Blockchain

Many companies are in a catch-22 when it comes to working with blockchain. On the one hand, organizations are fearful of doing nothing with blockchain because they know how, in the hands of a clever competitor, distributed ledger technology could be used to disrupt their businesses or industries. On the other hand, those same organizations also know blockchain laws are coming but not when or in what form. Meanwhile, regulators at the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have embarked on a startling wave of enforcement activities against blockchain-related projects. 

At NFT.NYC 2023, a conference dedicated to the many use cases of non-fungible tokens, two Washington, DC-based crypto attorneys from Perkins Coie LLP—Jamie Schafer and Valerie Dahiya—were on hand for a panel discussion to offer sound advice on how to move forward as safely as possible on blockchain projects given the current regulatory climate. 

Following the session (which was standing room only), Blockchain Journal editor-in-chief David Berlind caught up with Schafer and Dahiya (who was once an attorney for the SEC) and looking for more specifics on behalf of reluctant enterprises that want to move forward with their blockchain initiatives. Two significant takeaways were (1) to take note of laws surrounding corollary precedents that already exist and (2) to bring a lawyer with you if you decide to take any regulators up on their open-door offers to meet with "industry."

Only a few weeks before this event, David interviewed CFTC Commissioner Summer Mersinger (https://blockchainjournal.com/interview/cftc-commissioner-mersinger-invites-nervous-enterprises-come-chat-about-blockchain/) who, in response to the same line of questions about moving forward amid regulatory uncertainty, advised businesses to come in for a chat. Said Dahiya, "They are not your lawyers." In other words, do not necessarily take a regulator's advice as legal advice.

To watch the video version of this podcast or read its full-text transcript, go to:
https://blockchainjournal.com/interview/use-nonblockchain-precedents-a-guide-selfregulation-say-perkins-coies-crypto-lawyers/

The video can also be watched on Blockchain Journal's YouTube Channel at https://www.youtube.com/watch?v=3a-SX8Flr5I

Use Non-Blockchain Precedents As A Guide To Self-Regulation Say Perkins Coie's Crypto Lawyers

Of the many blockchains that are out there, only a handful are really thinking about how to satisfy the requirements of enterprises interested in public distributed ledger technology (DLT) for digital transformation, industry disruption, stakeholder engagement, or business innovation. 

While he was in Austin, TX to cover Consensus 2023, Blockchain Journal editor-in-chief David Berlind interviewed Robert Viglione, CEO of Horizen Labs, the engineering organization that supports the Horizen blockchain and its protocol token: ZEN. 

One of Horizen's key areas of focus when it comes to serving enterprises is about Zero-Knowledge or ZK cryptographic technology. In the interview, Viglione discusses how ZK technologies make it possible for the different stakeholders in a blockchain-based multi-party transparency use case to draw certain conclusions (for example financial conclusions) from batches of transactions without actually revealing the underlying details of those transactions. For example, if a transaction represented the settlement of an invoice, the amount may be known and so too is the fact that it was for an invoice. But other details regarding the invoice such as what goods or services the invoice was for or even who it was to can be kept private. 

Viglione also discussed the forthcoming introduction of an Ethereum Virtual Machine (EVM) to Horizen's mainnet (blockchain industry jargon for the actual production public blockchain and not the non-production or "testnet" version). Some of the enterprise-targeted public blockchains have strategically embraced the EVM as the means through which their public distributed ledgers will support enterprise needs for custom blockchain application development. As more chains gravitate towards the EVM as their virtual machine of choice, enterprises can seek solace in those chains knowing that the EVM is becoming a defacto industry standard,  making it easier to switch public ledgers should the need arise without having to recode their applications from scratch. It is akin to the comfort that enterprises have traditionally appreciated in the multiple Java Enterprise Edition (JEE) offerings on the market and the flexibility that was similarly afforded to enterprises by virtue of the JEE standard.

To watch the video version of this podcast or read its full-text transcript, go to:
https://blockchainjournal.com/interview/why-enterprises-would-be-wise-choose-an-evmcompatible-chain-horizen-labs-ceo/

The video can also be watched on Blockchain Journal's YouTube Channel at https://www.youtube.com/watch?v=HFnTfQwq2lY

Why Enterprises Would Be Wise to Choose an EVM-Compatible Chain: Horizen Labs CEO

In the virtual halls of Blockchain Journal (BCJ), we often talk about an elephant-in-the-room like problem that we've nicknamed "The William Shatner Problem." It all started when our technical analyst Bob Reselman was looking at some non-fungible tokens that were once minted on the Wax blockchain in partnership with William Shatner and then asked a simple question: "How is anybody expected to know for sure that it was the real William Shatner who worked on these NFTs and not an imposter?" 

When BCJ editor-in-chief David Berlind posed that same question to Wax co-founder William Quigley during the NFT.NYC 2023 conference in New York City, Quigley's answer was essentially that we have to trust Wax as a central entity to be telling the truth and that like Amazon, it's beholden upon Wax to market itself (and maintain itself) as a trustworthy marketplace. The problem with this approach is that it's a non-technological and non-standard approach that doesn't scale across the blockchain industry. In fact, BCJ's so-called William Shatner problem is not just about C2C contexts involving consumer activity in the primary and secondary market of NFTs. It's also a proxy for a larger identity issue that needs solving before businesses can fully exploit the potential of distributed ledger technologies. 

During Consensus 2023 in Austin, Texas, after Ripple CTO David Schwartz concluded a fireside chat during which he openly discussed some of the challenges when it comes to the intersection of blockchain and identity, BCJ's David Berlind interviewed him for his perspective on the William Shatner problem. Similar to some of the conclusions that were reached in Berlind's interview of Wax's Quigley, Schwartz — one of the OGs of blockchain technology — agreed that it is a problem that needs solving, joked that he and Berlind should call some venture capitalists, and suggested there may be no way to avoid the need for central authorities that vouch for the identities of blockchain users (individuals or organizations). The idea is similar to the originally intended role of Certificate Authorities back in the days of Web 1.0.

To watch the video version of this podcast or read its full-text transcript, go to:
https://blockchainjournal.com/interview/ripple-cto-david-schwartz-proof-identity-will-require-certificate-authoritylike-approach/

The video can also be watched on Blockchain Journal's YouTube Channel at https://www.youtube.com/watch?v=m9o1elZGZug.

Ripple CTO David Schwartz: Proof of Identity Will Require Certificate Authority-Like Approach

Blockchain Journal editor-in-chief David Berlind speaks with Deloitte Global and US Tax Blockchain and Digital Assets Leader Rob Massey about the challenges associated with enterprise cryptocurrency transactions and taxation. As the end of 2023 fast approaches, US-based businesses (and individuals) that are in some way involved with cryptocurrencies and other digital assets will face new challenges, not the least of which will be increased scrutiny from the Internal Revenue Service (IRS).

Compared to years past, Massey suggests that there's an increased likelihood that the IRS will be summoning many organizations for an “exam” of their financial records (the universally feared “IRS audit”) especially as they relate to digital assets (including cryptocurrencies) and how exactly those organizations accounted for the constantly shifting valuations of those assets relative to fiat currencies like the US dollar. For many organizations, the idea of great digital asset record keeping is easier said than done because many existing enterprise financials and ERP systems are incapable of gracefully tracking cryptocurrency payments in the same way they track flows of fiat currency (never mind the constant volatility of crypto). Nevertheless, the onus will be on organizations to make up for those shortcomings when preparing for an IRS exam, however contemporaneous their ad hoc record keeping might be.

Even more challenging; despite the IRS's increasing interest in digital asset transactions, there’s still a lack of well-publicized comprehensive guidance on how best to prepare for such an exam. According to Massey, IRS examiners might have some latitude when conducting these audits and, as a sign of cooperative intent, organizations that are invited for an exam should come prepared with an overabundance of transparency.

In the absence of guidelines, there's a compelling reason to work with Deloitte or one of the other consultancies with a longstanding global blockchain practice: They've been through enough exams with other customers (both domestically and internationally) to come up with their own guidelines for how to survive such an audit. Not surprisingly, the organizations that perform the best when the taxman comes knocking are the ones that anticipated the increased scrutiny and adjusted the record-keeping accordingly.

To watch the video version of this podcast or read its full-text transcript, go to:
https://blockchainjournal.com/interview/2023-comes-an-end-deloitte-anticipates-greater-irs-interest-taxpayer-crypto-records

The video can also be watched on Blockchain Journal's YouTube Channel at 
https://www.youtube.com/watch?v=DUu-O-LSbk4

As 2023 Comes to an End, Deloitte Anticipates Greater IRS Interest in Taxpayer Crypto Records

In this episode of the Blockchain Journal podcast, BlockchainJournal.com editor-in-chief David Berlind interviews Charles Adkins, the newly appointed president of the Hedera Governing Council. They discuss various topics related to blockchain, including educating executives and lawmakers, the differences between blockchain and databases, the intersection of blockchain and artificial intelligence, and why 2024 will be the year that enterprises must finally take full notice of blockchain if they don't want to be left behind.

David also asks Adkins about the somewhat unorthodox structure of blockchain ecosystems and which of the many use cases for blockchain as a platform are his favorites. The conversation provides insights into the current state and future potential of blockchain in various industries.

To watch the video version of this podcast or read its full-text transcript, go to https://blockchainjournal.com/interview/new-hedera-governing-council-president-adkins-2024-is-pivotal-year-enterprise-blockchain

The video can also be watched on Blockchain Journal's YouTube Channel at https://www.youtube.com/watch?v=1JIJga9T7ME

New Hedera Governing Council President Adkins: 2024 Is Pivotal Year For Business Blockchain Adoption

TruckCoinSwap (TCS) is a fintech and blockchain-as-a-service startup that provides freight invoice settlement to the transportation industry that, as a whole, appears to shippers as an enterprise. For truckers and freight companies critical to national security, the current options for freight invoice settlement involve egregiously burdensome payment terms and high costs. 

In the worst cases, trucking companies must wait as many as six months to get paid. It's a great example of where the utility of blockchain-as-a-platform (for example, its 24/7 availability and fast settlement times) can be very disruptive to a legacy industry in a positive way. To find out more about how exactly TCS works, Blockchain Journal's editor-in-chief David Berlind interviews TCS co-founder and CEO Todd Ziegler as well as Gabriella "Gabby" Kusz, an advisor to the startup. 

Among other things, David learns about how TCS uses blockchain technology and an ERC-20 token to facilitate faster and less burdensome settlement of freight invoices thereby making it possible for truckers to keep gas in their tanks and food in the bellies of their families. If there was ever an application of blockchain that could inspire lawmakers and regulators to reconsider how blockchain should be considered somewhat separately from retail crypto investment, this is certainly one of them. But not just this one example. During the interview, David and Gabby cover examples in other enterprise industries where blockchain can fuel similar forms of disruption and efficiency.

Key Takeaways: 

* Truck Coin Swap (TCS) provides a blockchain-based solution for faster and cheaper freight invoice settlement in the transportation industry.
* The current options for freight invoice settlement have long payment terms and high costs, which negatively impact small businesses in the industry.
* Real-world use cases like this are crucial for educating policymakers and changing the narrative around blockchain technology in ways that emphasize the utility of blockchain versus crypto as a retail investment instrument.
* Blockchain technology can be applied to many industries to facilitate more timely settlements and reduce the costs associated with traditional financial "rails."

To watch the video version of this podcast or read its full-text transcript, go to:
BCJ URL:
https://blockchainjournal.com/interview/how-truckcoinswap-hopes-ensure-backbone-america-keeps-truckin

The video can also be watched on Blockchain Journal's YouTube Channel at https://www.youtube.com/watch?v=deXW02Mtz3c

How TruckCoinSwap Hopes to Ensure that the Backbone of America Keeps on Truckin'

In this episode of the Blockchain Journal podcast, Blockchain Journal editor-in-chief David Berlind interviews Daniela Barbosa, the executive director of the Hyperledger Foundation. They cover a wide array of Foundation-related topics, including the formation and growth of the foundation, its flagship project (Hyperledger Fabric, an open source offering that enterprises can use to launch their own public or private blockchains), some of the Foundation's other projects, and the difference between permissioned and permissionless distributed ledgers. 

From a governance point of view, David and Daniela also consider the parallels between the decentralized development and maintenance of open source software and the decentralized governance of public blockchains. With an eye toward improving the adoption of distributed ledger technologies, Daniela talks about the urgency around education and training in blockchain and the building of a commercial ecosystem. The conversation covers blockchain interoperability with existing enterprise platforms and the benefits of Java integration (particularly related to the Hyperledger Foundation's recent announcement of its Web3j project).

Key Takeaways
* The Hyperledger Foundation is the home for blockchain and blockchain-related projects at the Linux Foundation, focusing on open source and open development.
* Hyperledger Fabric is currently the most adopted permissioned distributed ledger platform globally.
* Enterprises are interested in blockchain technology for its potential to bring efficiencies to the market, such as 24/7 liquidity and decentralized identity.
* Open source and open governance are crucial for decentralized technologies, allowing for transparency, security, and collaboration.
* The Hyperledger Foundation aims to support developers, provide education and training, and foster a commercial ecosystem for enterprise blockchain adoption.

To watch the video version of this podcast or read its full-text transcript, go to:
https://blockchainjournal.com/interview/hyperledger-open-source-blockchain-project-looks-make-enterprise-inroads-new-java

The video can also be watched on Blockchain Journal's YouTube Channel at https://www.youtube.com/watch?v=T9CWy9XdEO0

Hyperledger Open Source Blockchain Project Looks To Make Enterprise Inroads With New Java Offering

The world's leading source of information for enterprises and businesses looking to use blockchain as an application platform for digital transformation, business innovation, customer engagement, and industry disruption.

New tracks tagged #distributedledgertechnology