Industry-sponsored contest offering $7 million in prizes to accelerate zero-knowledge cryptography to enable the technology to help scale blockchain networks
You are invited to compete!
The challenge is modeled after the famous XPrize competitions that have used private contributions to fuel advances in a variety of areas including spaceflight, adult literacy, and ocean health. For the ZPrize, teams will compete for awards by engineering new algorithms and techniques that achieve performance metrics unmatched by the best zero-knowledge systems deployed in the blockchain industry today.
“The goal of the ZPrize is to spur a quantum leap in zero-knowledge cryptography that so many Web3 protocol and application developers are waiting for to enable their products to scale to millions,” – Alex Pruden, COO of Aleo & founder of the ZPrize initiative.
This paper introduces blockchain technology and explains how its unique characteristics could help fundamentally change the building blocks of commerce and society.
Thought up as the underlying architecture for the Bitcoin cryptocurrency in 2008, blockchain technology is currently a hot topic and the subject of numerous studies in sectors outside the payments industry to which it has often been confined in the past.
The insurance industry, with its highly complex processes, could be a major beneficiary of the technology.
As a form of information management, blockchain and related DLTs offer advantages over traditional databases and may be useful in the development of certain emerging technologies, such as the Internet of Things. Regulation of blockchain is currently limited at the international and federal levels, though state-level legislation has shown support and recognition of aspects of blockchain technology.
This white paper can help organizations by understanding the state of the blockchain environment and the path to adoption. The analysis highlights the main advantages of the technology (broken down by industry), and the interviews shed light on the benefits and challenges of blockchain technology.
The focus of this paper is to explain blockchain technology and how it could potentially impact the financial statement audit, introduce possible new assurance services and new roles for the CPA auditor in the blockchain ecosystem.
The potential benefits of blockchain are clear: improved efficiency, reliability, and compliance. But the risks are just as glaring. A full understanding of blockchain related-risks and how to address those risks is needed if a company is going to responsibly put it to use. Knowing the COSO perspective is a great place to start.
Announcement: BIG is continuously looking for volunteers to help manage, develop, and promote our BIG Mission, Vision, and values: the advancement of blockchain technology and use cases; and, undertake activities for the benefit of their fellow Members and the blockchain community. If interested, please send us a message here.