Stan Larimer Discusses BitShares, Steem, EOS at China International Big Data Industry Expo 2018
Guizhou, China — Godfather of BitShares Stan Larimer took to the stage at China’s largest expo on Big Data last Saturday, where he recounted the progress made by the BitShares team, and hinted at the future of “economic superconductivity.”
China’s annual event is in its third year and has quickly risen to international popularity. The event was attended by government officials and businessmen alike, including the Ministry of Industry and Information Technology, National Information Bureau, Guizhou Province, and Central Bank. The expo aims to highlight “global vision, national height, industrial perspectives, and business standpoints” and uphold principles of “internationalization, professionalism, and sustainability.”
Larimer began the talk by praising the work of, Dan Larimer, on creating “real-time blockchains”, or blockchain technology that supports instantaneous transactions. Afterwards, he transitioned to the main topic of his speech: the benefits of BitShares.
“Let me start with a concept that is economic superconductivity,” Larimer said, “That is to say, on the entire planet, we can communicate with each other very seamlessly without any resistance on the whole earth.”
Economic superconductivity became the word of the night, encapsulating the spirit and promise of BitShares’ graphene technology. One of Larimer’s slides depicted the evolution from ProtoShares to BitShares, to the introduction of Graphene and Steem, and finally arriving at EOS. Alongside the timeline, was a cost-effectiveness spectrum, depicted first by the evolution of man, to the evolution of flight technology, ending at the speed of light- where EOS was positioned.
Larimer noted that while the market value of BTS and STEEM couldn’t compete with ETH or BTC, the average number of transactions on the BitShares blockchain had surpassed all other blockchains. According to Larimer, STEEM and BTS account for 70 percent of all blockchain transaction volume. Larimer’s presentation demonstrated that market cap was a lagging indicator of value, while transaction volume is more practical.
Besides BitShares, Larimer also hinted at the potential impacts of “real-time currency”. Currently, customers and merchants are limited in their control over transactions, usually at the whim of the bank. Under the BitShares blockchain, a high-value, low-latency transaction can finally be realized. Larimer briefly alluded to Quintric, a new type of cryptocurrency backed by U.S. gold coins. Quintric’s mission is to create a stable, government-backed cryptocurrency accepted internationally. The Quintric Monetary System is now in Beta launch is set for a public launch later this July 4th.
Continuing on the concept of economic superconductivity, Larimer created the analogy to the historic Silk Road. The famous trade routes between China, the Middle East, and South Europe lead to an explosion of economic prosperity, cultural exchange, and trade.
In the past, merchants traded silk, religion, and technology. Today, real-time blockchain allows users to trade digital currency and information. “Blockchain can create such an impact, so that these remote areas, or areas where connectivity is not very good can enjoy more development opportunities,” Larimer said, “It is using technology to connect people through land, sea, and sky satellites using the “Silk Road.”
As the new silk road for a new era, blockchain can connect northern and southern hemispheres, distant continents, and technologically advanced and deprived countries. Without companies, third-party intermediaries, and other middlemen between two transacting and communicating individuals, there are no delays, fees, or arbitrary laws. Societies and countries can learn to coexist, collaborate, and flourish together, without being held back.
The author is not an attorney or financial advisor. The author would like readers to note that he is a co-founder and board member at the Quintric and holds BitShares investments. None of the content presented should be construed as investment advice or as legal advice.