Notably, blockchain startup DECENT continues advancing its challenging mission of “liberating” global digital content distribution 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.
At a recent event organized by Hive Seed Fund, specialists and surrogates of major international tech companies introduced their agendas and future plans. The list of esteemed guests included Paul Asoyan from Google, Marc Hedlund, CEO of Skyliner and trio Raffi Krikorian (Engineering Director at Advanced Technologies Center), Chris Valasek & Robbie Sedgewick from Uber. Besides their soon-to-be-realized endeavours, they elaborated in length about Yerevan expansion as the main “beast” in region and its thriving business atmosphere with plethora of various entities and talents.
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 - decentralised 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.
Launch, nearly 4000 sponsors participated with stunning amount of $3’500’000 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.
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, be innovative.” Early this year, the Bank of Russia has announced plans to "analyse 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.
Furthermore, in September, the Chinese government was revealed to be working on developing and eventually using blockchain-based solutions for social security payments. At the same time, The National Bank of Kazakhstan has announced about the plans to create an innovative platform to be built with Blockchain technology for trade of securities using cryptocurrency.
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. Armenian government considers high-tech and ICT as priority sector for country’s development: we will continue providing significant tax concessions and much wider support in partnering for success”.
While many are sceptical whether the new blockchain movement would really make to its promise, and often the entire industry is viewed as just an experiment, it is clear that the people have already casted their vote for the new economy powered by peer-to-peer trust and enterprising.