Blockchain Hype vs Hope

Blockchain leader, cloudyBoss finds the all-important middle ground

SYDNEY, AUSTRALIA, 25 June 2018

History is punctuated by innovations that were, at the time, thought impossible including waves of trend-setting development that no one thought would last. Hard-fought benchmarks were established then casually surpassed, like just another personal best.

From the industrial age onwards, innovation has relentlessly shifted the world forward, shocking, whilst empowering, the masses. Nowhere has this been more prevalent than in the field of information technology.

These days it takes a lot to shock or impress us and yet the recent Blockchain movement – with wildly speculated-upon cryptocurrency as its spearhead – has rocked our world.

Unsubstantiated hype has dominated the Blockchain arena, with cryptocurrency boom and bust stories of gold rush proportions reported daily. Meanwhile, those that understand the longer-term significance of Blockchain, as an invaluable development in the internet economy, hold out, at the other end of the spectrum, in a state of hope – waiting to see its true potential fulfilled.

All in all, Blockchain has put technology back in the media spotlight, where it hasn’t been since the dot-com bubble of the 90s. It shows we all still like a good story but these days most of us like a little substance to go with our hype so Blockchain developer, cloudyBoss has entered the arena with news that will flesh out that all-important grey middle ground between Hype and Hope.

“There’s been incredible speculation about cryptocurrency, of epic proportions. It’s viewed by some as today’s get-rich-quick scheme but until recently little was known about its Blockchain roots,” commented cloudyBoss CEO, Lou Schillaci.

“Any cryptocurrency, like Bitcoin, is just one linear form of Blockchain. Blockchain in its purest form is an electronic ledger of transactions. It provides a secure exchange of digital assets, the likes of which has never been seen before.

“The Hype that has been generated by crypto is evident, as is the Hope held by many that it will solve real-world business problems where previously complex APIs and code-based interfaces needed to be created to allow organisations to exchange information securely. These mechanisms were often prone to breaches and failed to provide the irreplaceable key ingredient that Blockchain does, which is Trust.”

cloudyBoss CTO, Giovanni di Noto, stated “There is a lot of interest in Blockchain but also considerable fear and mistrust, which is unfortunate as Blockchain, or its more evolved counterpart, DLT (Distributed Ledger Technology), already has many use cases for solving operational, logistics, legal, administration and verification issues, anywhere in fact, where data integrity and secure data repositories are important.”

Recently unveiled at a series of industry events in Asia, India and Europe, the cloudyBoss Blockchain / DLT solution, SKYE, has been recognised by the market at large and cloudyBoss is now in advanced implementation talks with federal and private banks, major automotive manufacturers and large supply chain organisations the world over.

The cloudyBoss solution is a permission-based DLT cluster facility that requires no programming and is simple to use – it takes less than a minute and no technical expertise – to create a secure permissioned SKYE cluster which can be used to safely exchange or record data, such as Smart Contracts ( which may stipulate time-based events and/or record payments) within two or more groups or organisations.

Mainstream DLT developers, such as Hyperledger, continue to gain traction with their open-source SDK (code development framework) solutions, however, none are completely market-ready with off-the-shelf configurable applications, fully geared for the rigours, and diverse requirements of the corporate world – except for cloudyBoss’ SKYE solution.

In conclusion: beyond the HYPE of cryptocurrency, which currently has a 92% failure rate, and exceeding the HOPE that this new trust-creating technology will provide actual business solutions, is cloudyBoss and it's simple but sophisticated real-world SKYE technology that is available now.

--ends—

www.cloudyboss.com

Media Information

Claire Linley Lou Schillaci
claire@cloudyBoss.com lou@cloudyBoss.com

cloudyBoss is a privately owned, globally distributed technology organisation backed by IBM through its Global Entrepreneurs Program. cloudyBoss’ technology challenges the way we work and frees organisations from old world constraints: it does this by equipping all manner of businesses with tools that allow them to thrive in the new global order.

cloudyBoss baseline product, NEXT+, a cloud-based Extended Enterprise Resource Platform (ERP-X) encapsulates Artificial Intelligence, Distributed Ledger Technology, Machine Learning, Internet of Things, and scale-neutral data nodes. Built and continuously evolving using agile software methodology, cloudyBoss products solve today's complex business challenges of disruption, automation, security and productivity gaps by equipping even the smallest business with the tools to compete globally.

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This release was published on openPR.