Blockchain Mass Adoption thru Casper Labs w/ Mrinal Manohar - BRT S03 EP20 (119) 5-15-2022

Blockchain Mass Adoption thru Casper Labs w/ Mrinal Manohar

- BRT S03 EP20 (119) 5-15-2022

 

Things We Learned This Week

• Casper is designed to accelerate enterprise & developer adoption of blockchain technology today and evolve to meet user needs in the future.
• Blockchain: key features are missing in the industry, that hinders enterprise adoption, ease of use + speed
• Blockchain – best form of copy / data / IP protection (Smart Contracts)
• Blockchain will cost more because the security, and copy protection is better
• Fees in Blockchain are expensive & inconsistent, there is a need to standardize and make predictable

 

 

 

Guest: Mrinal Manohar, Casperlabs CEO

https://www.linkedin.com/in/mrinal-manohar-84422a9/

https://casperlabs.io/

https://casperlabs.io/company/meet-our-team

https://www.youtube.com/results?search_query=Casperlabs+CEO%2C+Mrinal+Manohar

 

Mrinal Manohar is co-founder and CEO of CasperLabs. Mrinal Manohar has an extensive career as both a computer programmer and a finance professional. Before founding Casper, Mrinal was a principal and the technology/media/telecom sector head at Sagard Capital, a ~$1b long-only hedge fund. Mrinal also previously served as a private equity associate at Bain Capital in Boston, and as an associate consultant at Bain & Company. Mrinal has been personally investing in the blockchain industry since 2012 as a seed investor in Ethereum, Blockstack, Basis, Maker, Filecoin, and more. Mrinal holds a Master of Science degree from Carnegie Mellon University.

 

Why Casper?

The Casper Network is the first live proof-of-stake blockchain built off the Casper CBC specification. Casper is designed to accelerate enterprise and developer adoption of blockchain technology today and evolve to meet user needs in the future.

 

Enterprises need to be blockchain ready in 2022. CasperLabs works with enterprises of all sizes to ensure they are ready to integrate a secure and trusted blockchain.

Blockchain technology is on the brink of its next breakthrough. But from the perspective of developers who actually decide if, when, and how to use a particular blockchain, the key features are missing in the industry, and that hinders enterprise adoption of blockchain technologies.  

 

Davos -May 23-25 World Economic Forum

There is a lot of thirsty talk about Metacask and its recent $2.3 million-dollar sale of a Macallan whiskey cask NFT. 

 

Blockchain Hub Davos will host several events over the three days as key stakeholders gather and discuss the latest trends in the Digital Asset Ecosystem, DeFi, Blockchain Enterprise Solutions and NFTs in media, art and sports. Panel discussions and networking will also take place daily. Guests will enjoy drinks and food throughout the day.

As part of the festivities, CasperLabs will also be conducting an auction of a premium single-malt whiskey cask. The winner will also receive a bottle of the rare whiskey with unique Casper branding. The auction comes following a successful partnership with MetaCask to build the world’s first digital marketplace for premium whiskey cask investment. A double-size cask of 1991 Macallan Single Malt Scotch was recently sold for a record $2.3M on the blockchain in the form of an non-fungible token (NFT).

 

Notes:

How Many Casper Coins (CSPR) Are There in Circulation? The initial circulating supply of CSPR breaks down as follows: 400M CSPR released from the freely traded tranche of Casper’s Public Sale on Coinlist. Approximately 183M CSPR provided as liquidity to exchanges

CTO - Medha Parikar

Mrinal background - Computer Science, worked on Wall Street, then Bain Capital in PE and M&A, Investing in crypto and Bitcoin since 2012, Early investor BC and ETH

 

Casper Labs, started in 2017 – idea, created by 4 people, then hired 10 developers

Self funded initially, then Raise funding

Full Deck, 2 months coding

 

Block chain – best form of copy protection

Digital assets copied easily

Best b/c distributed

Platform (shared) for collaboration

Transactions – finance

Sharding –spread out computational storage workload

Gas fees – energy use, ease of use

B2B adoption. Example: like HTML

Cross Chasm Analogy

Private block

Con – block chain will cost more because security/copy protection is better. No referee in system – faith in many economic incentives.

Hacks – fringe, external

Block chain – multiple watchmen

Example: 2008 financial crisis. In block chain, everyone would have seen

Block chain is technical, transparent – harder to hide.

Casper Labs built network more efficient – faster and easier.

Security to network

Proof of work – lots of energy, code and data, inefficient.  70% consensus

80/20 – proof of stack – opposite, more efficient

Create a block – transaction, 70% consensus to create block from network

Staking – like putting up a band and earn fees on it.

Cheaters (double spend) are punished.

Fees – in block chain expensive and inconsistent. Need to standardize and make predictable.

Coin base – fees to move money. 1-4% + fee to network (to minors) who supply hardware and secure network.

Fees in banking / trading used to be higher percentage to basis points now. Volume goes up,  price goes down.

Fees down, energy down over time with proof of stack.

ETH (for 5 years) shift to proof of stake from proof of work - different hardware

Casper wants mass insurance, finance, smart contracts.

AWS and AZURE – cloud, both big and small companies can use, can scale. Open permission-less product.

Block chain – language and coding, most people are unfamiliar. Documentation is bad.

Hard to test, most blockchain not enterprise ready.

Forward sustainability – cannot change past - ok.

Bug – future cannot be changed

Smart contract – automatic, but cannot update yet. Need to modify. Solve bug of future change for enterprise.

Asset class creation – new industry of block chain – need attorneys, banks, consultants, coders, security.

Smart contract – fractional ownership in real estates.

Casper Labs.io – Casper.network (Swiss) Twitter

Enterprise Partners – with big corporation

Davos 5/23-25. World Economic Forum education about Casper and block chain leaders of industry and leaders of government.

NFT – should be linked to actual and unique digital or  real (hard) asset with value .

Method copy protection, authentic certification. McCallum whisky cask NFT (200 liters = 300 bottles)

Napter / Metalica controversy of circa 2002 would not happen if had NFT. How many artists did not get paid for their work? No residual fees – now can have fee ongoing with NFT – 5%for ALL sales

Can be multi party – artist has say in sale

Interlectual Property

Change IP world

IP We –

Patent Marketplace – open and transparent. Know owners and license in easy manner.

License tech directly.

Art Forgers will be put out of business.

Block chain will be like the internet in the future – take 10 years.

Internet, websites, torrent, file share, java, flashplayer  - all complex in past – now streaming – Netflix, HTML, smart phone, YT.

Simplicity is one of the most complicated thing to do. Get quote.

Automate everything for user.

Crazy innovators – need to thank them.

BC – digital gold, hi tech store of value

BC and ETH are the block chain now but could be overtaken.

Energy and storage will improve – All of the above and renewables

Need more predictable energy –

Need block chain specific hardware

Google built their own machines to process.

Set of chips and hardware for specific hardware

Casper Labs.io – for developers section

Open source code and paper.

 

 

 

 

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