Author: Gan Jia Ci
Being an open source P2P cryptocurrency, Dash also aims to provide a user-friendly and scalable payments system globally by being payments-focused. In the bearish cryptocurrency market during the beginning of 2018, Dash managed to surpass many other rival coins and soar high against the odds.
Just a couple of weeks ago, Dash Core announced the acquisition of a new talent to the esteemed team – Bob Carroll, an IT veteran and former CIO of Apollo Group, would be appointed as Chief Technology Officer (CTO). The announcement of the new talent acquisition sparked tremendous interest as the general public expressed positive remarks in anticipation of what is in store for Dash’s future.
Ryan Taylor, CEO of Dash Core Group, spoke of Carroll,
“I am thrilled to have Bob Carroll filling out our management team. Bob is not only excited about the project and an excellent cultural fit with the team, but he is also an incredible personnel and organization developer with a strong track record of delivering against complex programs. I’m looking forward to working closely with Bob in the years ahead as we continue developing and expanding the Dash network.”
With prior experience in software development and systems engineering, Carroll will be leading the development of Dash network and its products. Not only that, Carroll will be bringing an added level of organisation to facilitate a seamless process of business and development within the team.
Block Asia managed to catch up with Carroll during an email interview to discuss more of what is in store for Dash’s upcoming projects.
What are some of the exciting projects that Bob Carroll will be embarking on as the newly appointed Chief Technology Officer?
Dash is focused on delivering a major architectural enhancement to the network, code-named Evolution. This is exciting because it adds extensibility to the Dash Core platform with the Dash Application Protocol (DAP). With DAP, third party software solutions can be more easily integrated into the Dash network to add on-chain payments to their existing products. We will also launch a new mobile wallet named DashPay, which leverages the DAP to lead the way for other solutions. DashPay will bring a Venmo-like user experience to the Dash network, making cryptocurrency accessible and familiar to mass consumer audiences.
In addition to new products, Dash will continue to emphasize research on scalability and sustainability issues of blockchain and cryptocurrency. We have just completed our first joint research project with Arizona State University on the topic of scalability. The second phase of this project is underway, and it will lead to significant enhancements in the coming months.
The Dash network has shown tremendous results against the pessimistic market. How did the company manage to achieve such fruition so quickly? What were some of the challenges faced?
2018 has been a promising year for Dash, as we are making significant steps with several key business partnerships to allow for mainstream adoption. These partnerships have helped Dash expand into new markets and reach new users. Just to name a few, Dash has partnered with ABEE, a decentralized rideshare service that has integrated Dash as their primary payment option; AloGateway, a global payment processor that is working with Dash to ensure that merchants can send, receive and hold Dash in AloGateway wallets; and Rewards.com, the leading loyalty rewards website which incentivizes purchases through its unique cashback program, which now offers Dash as a rewards option (and soon, a payment option).
The biggest challenge this year has been tackling the regulatory uncertainties surrounding the market, which have led to price declines for cryptocurrencies across the board. However, we’re starting to see some great movement around this [issue] with the recent SEC ruling that Ether is not a security. So, I’m optimistic that there will be greater clarity around regulations in the years to come.
Future plans and recent developments: Speaking of improving scalability and sustainability issues in blockchain, how would Dash go about achieving infinite scalability in the future?
Dash aims to be the most user-friendly and most scalable cryptocurrency. The network features instantly confirmed, double-spend-proof transactions, a self-governing and self-funding model through incentivized full nodes, and a clear roadmap to scale on-chain via specialized custom developed open-source hardware. Dash is also the first true Decentralized Autonomous Organization (DAO) which hires and pays people to develop and improve it.
Last year, Dash announced a partnership with Arizona State University. Were there any interesting R&Ds in the blockchain field since?
Dash set out in our partnership with Arizona State University to start the Blockchain Research Lab within the renowned Center for Assured and Scalable Data Engineering (CASCADE). Our long-term research goals were to focus on blockchain scalability, best practice, network architecture, environmentally-friendly mining, latency, and throughput. One very interesting new report, titled Block Propagation Applied to Nakamoto Networks, explores the viability of scaling the Dash network to mass levels on-chain primarily through increasing the block size, and finds that Dash’s network can scale on-chain to over half of PayPal’s current transaction levels with ease.
We plan to continue exploring the impact of technologies that can improve scalability. We also plan to continue simulations with larger blocks and include tests to understand how the graphene protocol would affect block propagation, which we believe can enable much higher network capacities.
There are many countries that still hold a resistant stance towards cryptocurrencies and have established strong regulations on the markets as a result. How would you bypass such challenges?
I don’t think an outright ban is likely to occur, because governments and markets are recognizing the potential value of cryptocurrencies and blockchain. I think the key issue is lack of education surrounding the capability of blockchain and cryptocurrencies. While it is understandably important to crack down on projects that are not honest or transparent with investors, it’s also important to create an environment that encourages innovation. Right now, we are seeing digital currencies being viewed as a store of value – and we want to make sure they become a reliable medium of exchange as well. We’re confident that as we continue to demonstrate the positive potential of cryptocurrencies, like Dash, particularly in communities where there are many unbanked or underbanked individuals we will continue to see increased acceptance of it.
Dash started out as a privacy-focused coin. Many regulators have been coming down hard on coins of the likes due to a surge in money laundering, tax evasions and other illegal activities. What is your take on this? How would you change their opinions on Dash?
Dash’s original value was highly focused on its privacy features when compared to Bitcoin, but we’ve long since focused on providing a much broader overall user experience. We aim to to address usability, by making digital currency simple and efficient for the consumer. The privacy feature for Dash is entirely optional, and is meant as a safeguard to protect consumers. Less than 1% of Dash transactions use our optional privacy feature currently and unlike several other privacy technologies Dash transactions can be assessed with compliance solutions. While we feel the privacy feature is an important component of not just Dash, but any other cryptocurrency, our main focus is on making Dash an easy, reliable, and superior payment option for even non-tech savvy individuals.