Hosted in Prague, Czech Republic, Ethereum cofounder Vitalik Buterin kicked off Ethereum’s recent Devcon 4 conference by talking about the community’s fourth development phase, Serenity. Dubbed “Ethereum 2.0,” he claimrf that it is a “combination of a bunch of different features that we have been talking about for the past several years. We have been actively researching, building, and now, finally getting them all together.” Furthermore, since Serenity will finally allow Ethereum to move away from proof of work, Buterin believes that the network will be “1000x more scalable.”
IBM and Blockchain
In an interview with Quartz at the event, however, Buterin criticized IBM and other corporate entities for “missing the point” and “wasting time” with their enterprise blockchain offerings and services. Buterin was likely referring to IBM’s struggling TradeLens program, which aims to bring the logistics and supply chain industry under one common blockchain.
IBM initially partnered with shipping giant Maersk to build the platform. However, it has failed to establish any major partnerships since then.
Enterprise-grade blockchains have surged in popularity in recent years. IBM, in particular, was one of the first companies to adopt the technology and dedicate significant time and resources to understanding its applications. Most notably, it founded The Hyperledger Project in association with The Linux Foundation.
Hyperledger is meant to be “an open source collaborative effort created to advance cross-industry blockchain technologies.” Since its release in 2016, several other companies in the realm of finance and technology have joined as well, including Intel, American Express, Cisco, Accenture, and J.P. Morgan to name a few.
IBM’s research and development in the field of blockchain has allowed the company to offer a full stack blockchain-as-a-service (BaaS) platform on top of its IBM Cloud infrastructure.