Golem CEO: Ethereum is by far the most promising blockchain platform

Golem CEO Julian Zawistowski recently joined us for TNW Answers session where he was more than happy to share his views on the company’s choice of blockchain platform.

“Ethereum is by far the most promising platform and we cannot see another one that’s remotely close to it,” Golem said to a question about Ethereum’s scalability issues and whether Golem would consider migrating from it. “Of course we would like to interact with the blockchain more and once Ethereum scales we will be able to do it in a wider manner.”

When another participant asked about why he chose to build Golem on top of Ethereum, he said:

Zawistowski also suggested that he doesn’t like the way ICOs have evolved and are being executed even though Golem itself raised money through one. “The entire ICO mania does not help the [cryptocurrency] space”, he said in one of the answers.

Ethereum, although lending support to the maximum number of altcoins built on top of its blockchain, continues to suffer from scalability issues, meaning the platform cannot sustain a large number of users on its platform. When Cryptokitties was going viral, the network congestion caused a sixfold increase in the number of pending transactions.

Ethereum, at the same time, has also been working towards solving the scalability challenges associated with its platform. It began testing sharding technology in February.

Vitalik Buterin, Ethereum co-founder, in fact, teased in late April that the technology could be implemented on Ethereum’s platform soon.

The Ethereum foundation had also announced a grant in January this year for projects tackling the scalability issues with its network, later extending it to security and usefulness as well.

Zawistowski is certainly a believer in Ethereum.

The Golem Project went live on Ethereum’s mainnet last month and is often touted as one of the most ambitious projects ever built on top of its blockchain.

You can view the entire AMA session with Zawistowski here .

Coinbase’s new asset listing process will geo-restrict some coins

Coinbase is moving away from its predominantly US-centric approach with a new cryptocurrency listing process.

As a result, some new digital assets won’t be available to customers based in the US due to stricter regulations.

The popular cryptocurrency exchange announced today that it will be assessing coins based on their compliance with local laws.

Oh, and if you thought you can use a VPN or some other computer trickery to get around these restrictions, you’ll be unsuccessful. Coinbase makes coins available to users based on where accounts are registered.

Coins must satisfy Coinbase’s new seven step process to be listed on the exchange.

Up until now, Coinbase used to seek out cryptocurrencies to list on its exchange. However, with the revised approach will allow token issuers to approach Coinbase and apply for listing themselves.

Currently, Coinbase seeks out cryptocurrencies to list on its exchange. However, this new process will allow coins to approach Coinbase and apply for listing. > Up until now, Coinbase used to seek out cryptocurrencies to list on its exchange. However, with the revised approach will allow token issuers to approach Coinbase and apply for listing themselves.

For the record, the San Francisco-based exchange has long been teasing the arrival of a bunch of coins to its platform. Back in March, the company revealed it’s looking to expand its offering with more Ethereum-based (ERC20) tokens .

More recently, Coinbase revealed plans to add 37 new assets to its Custody platform .

I think Coinbase’s inbox is going to be very full in the coming weeks.

Binance to create employment opportunities for Uganda’s youth in blockchain

World’s largest cryptocurrency exchange Binance is planning to use its influence in the blockchain sector to help Uganda in economic development.

It hopes to create new employment opportunities for the Ugandan youth and drive investments from the blockchain sector in the East African country.

Changpeng Zhao, the founder and CEO of Binance announced the plan on Twitter:

Binance is partnering with Made in Africa and Msingi for this initiative— both organizations working towards the cause of development in Africa.

Zhao is currently in Uganda actively interacting with the local blockchain community. He held an open meeting with the Blockchain Association of Uganda (BAU), exploring opportunities for collaboration.

“Binance is tailor-making partnerships according to the environment”, BAU quoted him as saying. “We want to understand the landscape and grow our understanding of the market.”

Zhao promised support and training for young entrepreneurs innovating with blockchain and advised them to focus on providing solutions to people that make their lives better. “The money will follow,” he told them.

Zhao also hinted on his Twitter that this initiative is just a start, and Binance will be increasingly involved in Africa now onwards.

Binance and Zhao’s growth trajectory has been one of the fastest — not only in the cryptocurrency industry but overall — with Binance’s market cap growing from zero to more than $2 billion in a little over just six months.

Uganda, a landlocked country in East Africa, is known to be one of the world’s poorest countries and its government is frequently ranked as one of the world’s most corrupt .

As a technology that’s rooted in taking control away from governments and central authorities, blockchain can really help Uganda and other underdeveloped countries in their quest for economic development, especially the ones that suffer from widespread corruption.

Blockchain, as a technology, is news for the entire world and just Uganda, and it is vital that its exploration in the developing world begins while the technology is still in its nascent stage.

Established cryptocurrency businesses have now been increasingly getting involved in funding non-profit initiatives and innovative blockchain projects.

Earlier this month, Coinbase had announced a venture fund for blockchain startups. Before this, Ripple had donated $29 million in XRP to an American public school charity. Ethereum has also been awarding grants for innovative blockchain startups that help solve the existing problems within the space.

Irrespective of the ulterior motives behind these initiatives, they serve as a a good sign that the cryptocurrency industry is maturing and becoming self-sustainable.

Moving forward, it will be great to see more established cryptocurrency businesses funding both non-profit projects and promising startups innovating with blockchain technology.