Mike Doty — Ark Project: Enabling Blockchains to Cross Communicate & Exchange Tokens
Finding Genius Podcast
Richard Jacobs
4.4 • 1K Ratings
🗓️ 30 August 2017
⏱️ 24 minutes
🧾️ Download transcript
Summary
Crypto token exchanges are still centralized markets – decentralization has not yet come to exchanges. Each user must send their tokens to an exchange, and then withdraw their new crypto back into their own wallets. This creates a vulnerable point for outsiders to attack, and users have to rely on this centralized authority to allow them to access their crypto after an exchange has been made. Ark Project believes that simpler is better. Their goal is to allow different blockchains to communicate directly with each other, without having to go through a centralized authority. This keeps transactions simpler, so that there is less opportunity for something to go wrong, and even lowers transaction costs. However, this technology isn't just for cryptocurrency. Ark Project sees their platform being used in smart home features, car-sharing, Airbnb, or any other organization that matches providers with users.
Transcript
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| 0:00.0 | The Bitcoin, Ethereum, and Blockchain Superconference is coming to Dallas, Texas, February 16, 17, and 18 in 2018. |
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| 0:44.3 | That's Bitcoinsuperconference.com. |
| 0:48.8 | Welcome to Almost Here, Around the Corner of Future Technology Podcasts with Richard Jacobs. |
| 0:55.3 | Future Technologies, ways to transform our lives for better or worse, |
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| 1:01.0 | Almost here means these technologies are now here and starting to be used, |
| 1:05.0 | or just around the corner, from Bitcoin to artificial intelligence, 3D printing, |
| 1:10.4 | blockchain, virtual reality, and more. |
| 1:13.7 | Hi, this is Richard Jacobs with Future Tech Podcast. |
| 1:17.2 | I guess today is Mike Doty, director of ARC, the ARC project. |
| 1:22.1 | How you doing, Mike? |
| 1:22.9 | Good, thanks. |
| 1:23.6 | How are you doing, Rich? |
| 1:24.5 | Good to meet you. |
| 1:25.7 | Yeah, I'm on your show. |
| 1:26.5 | Yeah, so I know that ARC has a token that's traded on, you know, an exchange or two at least. But tell me about the project. What is, what was the concept of ARC? What do you guys do? |
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