The 8th Blockchain Symposium Seoul 2018
ALAX is not resting on its laurels! This time our team went to South Korea’s capital Seoul, to talk about our project at the 8th Blockchain Symposium. Besides having a place to present ALAX in depth, our co-founder Matej Michalko participated in the panel discussion with representatives of other blockchain projects (mentioning for example Datecoin, OSA Hybrid platform, Tradelize or Vantage Network). The lively debate, gave all the panelists a chance to pitch in with their ideas and knowledge, presenting the different use cases for blockchain.

ALAX at 8th Blockchain Symposium Seoul 2018

Matej was given two questions relating to both DECENT and ALAX. When asked how is DCore better than Ethereum, he responded in a very original way by comparing Ethereum to a blockchain Swiss knife, while DCore is more of a precise tool, a well forged Sushi knife. He recounted the ways in which they differ from one another, underlining the fact that Ethereum’s blockchain is more suitable if you want to use PoC (proof of concept) for content distribution or release your ERC-20 tokens and scale it up a bit. On the other hand, if you want to go the way of mass production DCore would be a better fit. Comparing the settlement times of DCore and Ethereum, there is a 5 second settlement time on DECENT’s platform compared to Ethereum’s 30 seconds. He confidently stated that DCore has a processing speed of two thousand transactions per second, but as they are still in the process of conducting benchmarks, the final number could be much bigger, probably over 10,000 and somewhere in the vicinity of 20,000.

ALAX Co-founder Matej Michalko and ALAX advisor Peter Pongracz

The question relating to ALAX discussed its focus on emerging markets rather than expanding globally. Our co-founder shared his opinion that blockchain could bring a lot of value to the table specifically when it comes to providing solutions for unbanked users, explaining that using blockchain’s capabilities, such as exchanging tokens for cash, could reduce the huge development fees. Our use case is aimed at solving that. While now developers have to wait up to six months for the payments to be settled, by building ALAX on blockchain we are able to cut that time to 5 seconds. Also by using blockchain, the developer has an overview of how many times his game was downloaded, providing an unprecedented level of transparency and trust, since he doesn’t have to rely on a third party to report the number of downloads, in which case, the number does not have to be true.

Having the founders of different projects under one roof, clearly shows us, that there is a vast amount of real life applications for blockchain ranging from healthcare through trading tools to dating apps. We give it a big thumbs up! What about you?

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['Alaxblog', 'Bitcoin', 'Smartphones', 'Apps', 'Blockchain']