Hey there smart people,
I'm really excited about Codius and the other products Ripple is bringing to the market, I think there is a lot of potential time and money to be saved if companies successfully implement these solutions. But with blockchain still being so young I do wonder what we can realistically work on right now and what we can expect in the near future. And I'm currently tasked (as an intern) with just that, implementing blockchain solutions for this company. And I'm so glad to be given this opportunity but it sure ain't easy with blockchain still at it's infancy.
The company I work for does a lot of intermediary stuff for local governments, insurance parties and people of low income or welfare. For instance, they have a centralized solution that withholds part of the welfare cheque for the insurance premium to prevent welfare beneficiaries from getting into depth by not paying their premiums (which happens a lot). As you can imagine this involves a lot of work with auditing and correcting invoices because these payments don't happen in real-time because there are different organisations involved.
I feel like DAO's (decentralized autonomous organisations) could be an excellent solution to this problem.
Blockchain/Interledger would provide a closed ecosystem where there cannot be any double-spend while also providing liquidity and speed.
Codius could provide a platform for deploying smartcontracts and DAO's where the consensus mechanisms can be tailored to the use cases at hand.
It's my understanding that the combination of Codius and Interledger could result in a platform where these parties are an entity in this ecosystem that can share crypto and fiat wallets and have access to these 'smart'-invoices where they can track all the bills in real time and see what happens with the funds, where disputes can be resolved almost instantly and all that goodness that saves organisations time and money.
The things I really like about ILP and Codius are:
Private smartcontracts (Whereas ethereum is a public blockchain)
Easy control over fiat/crypto wallets
But I also have a few doubts, I'd like to hear your thoughts on this:
Codius is still very young, there are a lot more developers working on Ethereum and dAPPS that might provide a plug-and-play solution for the use cases at hand.
Maybe there are other platforms out there that are completely flying under my radar that provide solutions to my use cases?
I'd really, really like to hear your guys thoughts and opinions on this and I have some questions too that I can't quite work out yet:
What are your expectations when the Codius platform will come into fruition when it comes to adoption and functionality?
Will I have to program these solutions from scratch myself or will Codius eventually have plug-and-play (d)apps too like Ethereum?
What programming language should I pick up if I want to test the waters myself?