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Enterprise Blockchain’s Day of Reckoning is Here

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The enterprise blockchain solutions space may not be big enough for us all.

That’s according to R3’s CTO Richard Gendal Brown and lead platform engineer Mike Hearn.

Enterprise Tech and Competition

In a recent interview during a CordaCon event in London, the two executives talked about the enterprise Blockchain space.

Brown said that an enterprise blockchain “shakeout” is underway. And that many firms will need to move at once to gain the same network effects as blockchains.

“So that naturally means there has to be a shakeout and a consolidation down to a small number of platforms,” he notes, as quoted. by Coin Desk.

Brown also says competition is now among the Big Three: R3’s Corda; Hyperledger, and one of the enterprise Ethereum variants.

Thoughts on Ethereum

Hearn said, “I don’t think ethereum is going to go anywhere, to be frank.”

He added, “They have announced they are going to rewrite everything from scratch; that’s why I say that.”

He also said that he found the “ethereum 2.0” initiatives “really surprising.”

“They have a market position now; what you don’t want to do is start a new blockchain with new technology and announce that all of your existing technology is rubbish – which is kind of what they are doing,” he said.

In his opinion, this will cause minimal traction in the enterprise ecosystem.

He believes exciting developments are taking place in the enterprise blockchain space.

Industry Position on blockchain

Brown expressed how their platform is well-suited to a variety of applications. He said, “We have to convince them that Corda is the right choice, show them that we understand their problems. So yeah, we fight for every piece of business. Absolutely. We take nothing for granted.”

He said that he made some architectural decisions in the early stages of developing Corda together with the lead engineer, that were then considered unfashionable. However, he indicates that Corda continues to function properly and it was not necessary to revisit any of the decisions made.

Furthermore, Brown said that Corda’s licensing is similar to that of Hyperledger’s Apache 2.0. Regarding a possible collaboration between Ethereum and Hyperledger, he stated that it will be a marketing event rather than a major change consideration to platform operations.

 

 

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