ZUG, Switzerland, March 10, 2022 (GLOBE NEWSWIRE) — nChain’s Chief Scientist, Dr Craig S Wright, gave a keynote presentation on March 9, 2022, at the IEEE Blockchain Symposium, organised by the IEEE UAE Blockchain Group. In the speech, Dr Wright shared insights into solutions that can help power the modern internet and connected devices by leveraging Internet Protocol version 6 (IPv6) and the latest blockchain developments offered by nChain.
Key takeaways from the presentation:
- New potential attack vectors can be removed by taking advantage of the BSV blockchain and only allowing authorised parties to access sensitive information.
- Using the BSV network as the base layer, blockchain applications provide a new level of efficiency through integrated payment channels, including the seamless facilitation of micropayments, and bring enhanced privacy and security controls to IPv6 and cloud services.
- ‘Secure network mobility’ means that user devices, or clients forming the edges of the network, will not give unauthorised access to sensitive information even when they are compromised, while preventing the loss of data.
- The location of the user no longer presents an attack surface or a software vulnerability, enabling a truly mobile cloud experience that protects the privacy of the user.
Dr Wright commented: “With IPv6 jumbo blocks and Bitcoin payment channels, we have a path to an on-demand internet of value, one that can serve people on any income and anywhere in the world while protecting their privacy. This has always been the vision, and we are on the cusp of realising the empowerment such a system will provide to individuals. Scale means everything.”
Forming the new catchphrase anytime, anywhere, involving the exchange of all things using IP addresses like 192.168.1.1, RFID tags, and more, examples of blockchain applications that may leverage IPv6 include:
- webserver access, whereby webservers can implement Bitcoin IP transaction functionality to charge clients for access;
- local link payments, whereby IP transactions would be useful when making a payment to someone located near you;
- IP messaging, including any type of messaging (such as email); and
- public transport terminals, whereby an IP address can be associated with a transport terminal permitting a traveller to pass through upon payment.
Dr Wright’s speech complemented the many other topics discussed at the event, including 5G, the Internet of things, identity management, and supply-chain management.
More information about the IEEE Blockchain Symposium can be found here.
Founded in 2015, nChain advances the potential of blockchain technology through ongoing research and development of inventions, including the maintenance of a robust patent portfolio, and by offering commercial solutions such as Kensei, a developer-friendly set of APIs built on the BSV blockchain. nChain also offers solutions in the digital payment space, along with professional services that assist enterprises of all types to benefit from blockchain technology.