The Chief Communications Officer at Emercoin, Jason Cassidy, speaks to Cointelegraph about the inspiration, capacity, challenges and other factors that led the development of the Emercoin Blockchain Lab.
Having experienced tremendous success, the Emercoin team has been inspired to create its own Blockchain to enhance the growth of the EMC currency, and maintain a continuous evolution process, says Jason Cassidy.
The focus has been on acquisition of human capacity
Cassidy says that over the last year, the Emercoin team has been adding talent from across the globe while working closely with many industry professionals. The team is now at the point where it has the right people in place to take the Emercoin Lab from conception to reality. Saying that, the Emercoin Lab will bring forth many projects and initiatives.
Some of the functions of the Lab according to Cassidy will be:
- Talent acquisition and Monetization of existing EMC services (e.g. EMC LNX Advertising network)
- Development of new EMC products and services
- Stimulating community development on the Emercoin blockchain
- Increasing utility and adoption of EMC
- Creation, implementation and support of custom-made tools and services for Emercoin blockchain users (analytics, branded wallets, etc).
The more the Blockchains, the healthier the industry
Cassidy also tells Cointelegraph that the main impact would be a healthier and more vibrant ecosystem:
“Having more top blockchain and digital currencies creating these "think tanks" is exactly what will drive forward the innovation this industry is thriving on currently. From the Emercoin perspective there is the benefit of further legitimacy. Launching a leading edge blockchain R&D Lab is not a trivial task nor does it happen on a whim. You are making an overt declaration to the industry that you are a serious contender by making such a long term commitment to success. Many of the other R&D Labs opening up now are being championed by major players in the industry.”
Cassidy identified assembling the right team as the biggest among other challenges. He says:
“Ensuring the right people are involved at every stage of the process is by far the biggest challenge. When you have the right people in place, everything flows smoothly. This was our focus before we took the Lab beyond the blueprint stage. Locations, taxes, IP, local talent pools, operating costs and jurisdictional regulations all play a role in the formation of this type of entity.”
A welcome addition to the Blockchain landscape
Cassidy also claims that this development comes as a positive contribution by Emercoin to the Crypto industry as a whole:
“Emercoin has always taken the position that helping the industry improve is an investment that is worthwhile. One example of adding to the betterment of the industry through innovation is Emercoin's blockchain inflation reducing Transaction Optimizer. We released this to the public recently in an effort to combat the growing concern of blockchain size. We will continue to partner with many promising companies to help push the limits of innovation. To this end, we see the Emercoin Lab as a welcome addition to the blockchain landscape as we bring forth more solutions to real-world problems.”
Responding to the question of how soon the Emercoin Blockchain will be launched, Cassidy says:
“This is the ‘sixty-four-thousand-EMC question’. This is still a moving target for many reasons however we are hopeful to have a launch by the end of the summer. There will be some major developments taking place leading up the grand opening like the highly anticipated EMC Global Fund that has started. The fund will be assisting the Lab in various ways to promote investment into the EMC currency and the underlying technologies on the Emercoin blockchain.”