Identity-based blockchain: Accumulate's Innovative Approach to Identity, Performance and Security

Colors of Web3 & Entrepreneurship

In this enlightening 37th episode of Colors of Web3 and Entrepreneurship, Lam sits down with Paul Snow, CEO of IDD Labs and lead architect of Accumulate Network and Jay Smith, VP of Development of IDD Labs, to explore the innovation behind Accumulate Network. Paul shares his journey from his days creating the rules engine for the state of Texas to venturing into blockchain, discussing the development of Accumulate Network - a revolutionary blockchain that separates security from user identity. He explains how this approach solves critical issues in blockchain technology, including identity management, upgradable security, and cross-chain interoperability. The conversation also delves into fascinating topics such as quantum computing threats to blockchain, the potential of blockchain in supply chain management, and the future of tokenization. Jay and Paul's insights offer a unique perspective on the challenges and opportunities in the Web3 space. ⌛ Timestamps: 00:00:00 Episode trailer 00:00:39 Introduction about the show and Paul's background 00:06:06 The rules engine that Paul created for the welfare program for the state of Texas 00:15:40 The problem that Accumulate Network is trying to solve 00:22:15 Jay deep dives into Accumulate Network and explains what makes it special 00:29:30 Example of how the identity on Accumulate Network works for a specific person 00:34:40 Intended users of the Accumulate Network 00:38:10 How the design of Accumulate Network makes it scalable 00:45:25 Accumulate enables interoperability by default 00:51:30 The business models behind Accumulate 00:54:10 Challenges facing Accumulate Network 00:56:10 The different types of wallets available on Accumulate 01:02:00 Nodes and validators on Accumulate 01:03:10 Quantum computing and blockchain security 01:10:00 The 2 types of addresses on-chain and which type is vulnerable to quantum computing 01:20:10 Lazy-evaluation method in addressing problems 01:22:58 Applications of blockchain on supply chain and tokenization 01:30:00 Future of Accumulate and blockchain technology 01:33:02 Lumber-transportation problem in the supply chain and the potential cost of employing blockchain for tracing 01:42:08 Blockchain use case as proof of authenticity for media 01:47:20 The importance of data provenance and how some people can discern the AI-generated music from human-created music 01:53:35 Why Paul likes open source software 01:56:15 Corporations now realize the power of open source software and why we need blockchains 02:01:20 Paul's advice for aspiring Web3 entrepreneurs (with some US political flair) 02:11:05 Where to follow Accumulate Network 02:12:23 Closing thoughts and next episode preview Follow Paul, Jay, and their company: Accumulate Network website: https://accumulatenetwork.io/ Jay's LinkedIn: https://www.linkedin.com/in/jaysmithpmp/ Jay's Twitter/X: https://x.com/JaySmithNotes Paul's LinkedIn: https://www.linkedin.com/in/paulsn/ Paul's Twitter/X: https://x.com/paulsnx2 My social media: Twitter/X: ⁠https://www.twitter.com/LamWeb3⁠ LinkedIn: ⁠https://www.linkedin.com/in/lamweb3/⁠ Website: ⁠https://lamtrinh.xyz⁠ My latest article: https://lamweb3.substack.com/p/the-importance-of-decentralized-science If you enjoy this episode, please subscribe to stay updated on our upcoming episodes with industry experts and innovators in the Web3 and Entrepreneurship spaces. Thank you for listening! #Blockchain #Web3 #AccumulateNetwork#BlockchainInnovation