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Wednesday, October 27, 2021
Home News DFINITY Announces Its Unbounded Blockchain Cloud and Upcoming Demo Network

DFINITY Announces Its Unbounded Blockchain Cloud and Upcoming Demo Network

DFINITY Stiftung, the not-for-profit organization dedicated to the research and development of “DFINITY” blockchain technologies, announced its formal intent to create an open network that serves as a massive virtual mainframe computer in cyberspace that might play the role of a new kind of decentralized cloud. DFINITY will launch a multi-thousand node demonstration network in Fall 2017 that showcases some of its new technology in action.

This open network will enable the fabric of the Internet to play the role of cloud provider using novel blockchain computer technology that makes powerful and highly disruptive applications possible. For example, DFINITY will unleash the power of supply chain transactions, Internet of Things, financial markets & exchanges, charities, and intellectual property management, to name a few, on an unbounded, open and secure platform. With its dramatically increased performance and unbounded capacity relative to today’s blockchain networks, DFINITY has the potential to power even traditional enterprise IT systems.

One aim of the new network is to slash enterprise IT costs by reducing the human capital involved in supporting the development, maintenance and administration of traditional enterprise IT systems. These enterprise systems, being colocated on the same super massive virtual computer, will also be able to interoperate and incorporate the functionality provided by other services with ease. DFINITY will also enable the development of a new kind of “open source business” involving autonomous software that is updated via inbuilt governance systems and fulfill roles today performed by companies such as eBay or Uber.

The DFINITY network incorporates an algorithmic governance system that allows it to be fully adaptive with respect to economics, upgrades and other requirements, and manage the open environment it creates to ensure it is hospitable for corporate and mainstream applications.

Says Dominic Williams, President and Chief Scientist:

“…the quality of our rapidly expanding team is unparalleled within the industry and composed of real superstars. We are building a NASA for decentralization with research centers in Silicon Valley and Switzerland that will rapidly advance the new Internet 3.0 paradigm.”

Richard Kasteleinhttps://www.the-blockchain.com
In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, 'The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, the Netherlands where he has set down his anchor to raise a family and write. Founder and publisher of industry publication Blockchain News (EST 2015) and director of education company Blockchain Partners (Oracle Partner) – Vancouver native Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He has written over 2500 articles on Blockchain technology and startups at Blockchain News and has also published in Harvard Business Review, Venturebeat, Wired, The Guardian and a number of other publications. Kastelein has an Honorary Ph.D. and is Chair Professor of Blockchain at China's first blockchain University in Nanchang at the Jiangxi Ahead Institute software and Technology. He has over a half a decade experience judging and rewarding some 1000+ innovation projects as an EU expert for the European Commission's SME Instrument programme as a startup assessor and as a startup judge for the UK government's Innovate UK division. Kastelein has spoken (keynotes & panels) on Blockchain technology at over 50 events in 30+ cities.
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