HiveNet, a distributed cloud computing network, has recently made an announcement to become a part of the Blockchain network Bayern e.V. Blockchain Bayern e.V. is a not for profit company whose primary objective is to develop and strengthen the potential of the Bavarian region to provide a sustainable and holistic blockchain ecosystem both within the state as well as on the global plane.
The network not only works to strengthen the region and the country’s potential as a blockchain ecosystem but also to spread awareness and promote the technology through transfer and dissemination of knowledge within the society. This would facilitate knowledge transfer not only within communities but also establish and promote a transnational network that would go beyond regional or national boundaries to connect the stakeholders in the field of blockchain. This can also be said to be associated with an interdisciplinary approach that will help in the creation of linkages between science, administration, society, business, finance, politics, law, digital technology, the government, and other stakeholders across various industries and multiple regions.
A unique characteristic of Blockchain Bavaria, e.V., is it does not believe in competition with other networks or associations but considers itself “as a regional, independent, and networked entity between the different actors.” HiveNet, on the other hand, provides an opportunity for owners of computers located anywhere in the world to give out their computer resources, which are lying idle for rent, in a secure manner. Computer resource owners obviously earn an income from customers who make use of these resources for their own tasks like “big data analysis or complex calculations, like weather forecasting.” The payment from these users is received by the owners primarily in the form of swift and safe micro-transactions of HiveCoins through the HiveNet Blockchain network. Different types of measures to encash the earnings received through HiveCoins like HiveNet debit cards may be employed. The most important benefit that the users get is high efficiency and safety of transactions as chances of fraudulent transactions are minimized through the use of Artificial Intelligence to allocate tasks and validate the results.
HiveNet is looking forward to becoming a member of the Bayern e.V. network as it is a non-profit organization that would help in the growth of blockchain technology with its promotion across a wide spectrum. This would further accelerate the long term goal of mass adoption of this technology as the Bayern region is one of the most promising in terms of digital technology and boasts of several new enterprises and startups. This also makes it home to the young and active entrepreneurs of the country, and HiveNet has said, “ we are looking forward to collaborating for everyone’s benefit.” Therefore it believes that this collaboration would prove to be very significant for the speedy and sustained development of the blockchain ecosystem, with more and more adoption of this technology.