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DECENT Opening Blockchain R&D Hub in Armenia

 
 Thursday 27 October 2016
Matej Michalko
Matej Michalko

Matej Michalko

 

The race for championship in putting the best blockchain solutions to service masses intensifies, with industry leaders broadening geography of engagement by investing and bringing in new talents in research and technology development from around the globe.

Notably, blockchain startup DECENT continues advancing its challenging mission by introducing a new valuable member to its family, the Blockchain Research and Development Hub in Armenia, lead by a Harvard grad CEO and co-founder Gagik Yeghiazarian.  

The new residence is in s.c. Silicon Valley of Transcaucasia, Yerevan, which currently accommodates hundreds of tech companies, from startups, to established giants, quickly becoming a global source for AI, machine learning, big data and cloud solutions.

Amongst the heavy players like VMware, National Instruments, Synopsys, Mentor Graphics, and local champions like Picsart and Joomag, DECENT has found a sweet spot of emergent new blockchain principles, previously absent from portfolio of Yerevan booming FinTech industry - decentralized distribution platform for digital content. Its goals is simple - cut off the middleman between author and the consumer.

DECENT protocol allows  unrestricted and uncensored exchange of unique digital products facilitated by efficient and fee-less peer-to-peer payment method. Without third party being allowed to obtain its cut, author decides himself how to price the final digital content while potential buyer decides, whether s/he is willing to purchase that content. On top of that, every transaction is recorded onto immutable data storage unit, protected by cryptography intensive cyber-security against unwanted intruders.

Every DECENT Network project down the line will use the exact architecture.

DECENT Web, DECENT Music, DECENT Books - applications, expected to be released in the near future. DECENT Stream is definitely the most ambitious one; combining author-consumer relationship with immediate access to thousands of films and TV shows.  

Co-Founder Arman Aleksanian is certain, that “the new Blockchain R&D Hub of DECENT will significantly accelerate product-to-market timing.  No doubts, we all will soon witness new wave of major disruptions in  most of the traditional industries: the pace of blockchain powered development is amazing - great that we can contribute to making it happen”.

Currently, DECENT is focusing on its ongoing ICO event. Since its launch, nearly 4000 sponsors participated with stunning amount of $3 500 000 USD equivalent Bitcoins. What pleases the founder and CEO, Matej Michalko, is that majority of participants were small contributors. He concludes that “the strength of DECENT base lies in its community and the idea of empowerment and omittance of publishers authority.”

With three weeks left, DECENT is looking at a successful venture, that will help realize roadmap plans and spread its influence further.

Reason for this expansion is not only from open windows of opportunity, provided by the needs of individuals, or private companies to digitalize or cyber-secure themselves, but also from overall growing acceptance and support by the governments.  More and more countries realize and start nurturing the potential for sustainable job creation and competitive edge that next generation of young-blooded companies bring.

Use cases of this slowly appearing paradigm shift are mushrooming. Luxembourgian Finance Minister, Pierre Gramegna, boldly claims “blockchain will replace the word ‘Internet’”, while emphasizing the need of “keen regulator to apply rules, but at the same time, is innovative.”  

In September, the Chinese government was revealed to be working on developing and eventually using blockchain-based solutions for social security payments.  Early this year, the Bank of Russia has announced plans to "analyze and evaluate" potential applications of blockchain technology within finance. Following the trend, Ukrainian government announced Auction 3.0, a blockchain-based auction trade system to oversee transparent sell of the state assets, while Armenia’s close neighbor, Georgia, has announced development of a new system for registering land titles using the blockchain.

Bolstering the notion, the new Minister of Transport, Communication and IT of Armenia, Vahan Martirosyan commended the efforts of blockchain alliance in “bringing important new knowledge and investment opportunities to our country”.

Banks.am notes that a blockchain is a data structure that makes it possible to create a digital ledger of transactions (with bitcoins) and share it among a distributed network of computers. Information in blockchain is encrypted, which allows using the database safely without any central authority.

 
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