#797 G6 Networks: Polkadot Ecosystem Expansion with Institutions
Short Description: We aim to bring further institutions to the Polkadot ecosystem. We already brought Mandala Chain, Mosaic Chain, 2 MOUs (Indonesia/Bali, UAE/Dubai) and our whole CCTF team to the ecosystem. Through this proposal we seek funds for the expansion and development of G6 Networks for the good of Polkadot.
G6 Networks development is currently self-financed. Initially, we considered pursuing funding through the Decentralized Futures grant. However, due to the extended response times and associated delays, it has become impractical for us to continue waiting. Consequently, we have resolved to seek financial support from the Polkadot Treasury.
We have built the public chain and private chain runtimes and Mandala Chain is already using our physical devices as their underlying infrastructure.
Full proposal: Link to doc
Summary
G6 Networks excels in facilitating the adoption of blockchain technology for governments, banks, and enterprises by simplifying complex integration processes. Originating from CCTF DAO, a security auditing firm founded in 2021 by Six/David Pethes, the company evolved to meet the critical need for bridging traditional institutions with the Web3 environment using Polkadot's Substrate technology. Our mission focuses on delivering secure, user-friendly, and efficient blockchain infrastructures through the G6 devices, which are tailored to support private, permissioned, and cross-chain functionalities.
The technology underpinning G6 Networks leverages the Substrate framework and the Polkadot ecosystem, featuring an Enhanced Proof-of-Authority consensus, Zero-Knowledge security protocols, and a unique Path Tracing feature. This tech stack ensures seamless integration, privacy, and transaction integrity.
Key differentiators for G6 Networks include their physical G6 devices, which simplify the creation and connection of private chains, and their capability to offer interoperability across a broad spectrum of blockchain networks. The devices are customizable and come with robust security features, ensuring they meet the diverse needs of their clients.
You can find the previous discussion about G6 on the Polkadot Forum.
Website: g6.network
Whitepaper: G6 Networks - Simplifying Blockchain for Institutions
Proponent: 123LuJKS65HaBbLSdDS46ByeC7bvQwA1iUhTpmjigQAfUKpK
Date: 2024.04.19.
Requested budget: 244 200 USD (30148 DOT on EMA30)
Contact and responsible legal person for delivery: six / David Pethes of Crypto CTF OĆ
Show More
Hello guys from the BRA_16-D community, we appreciate the work done by the team, we were able to meet SIX at various events and he showed us his passion and involvement in the ecosystem.
AYE
@BRA_16-D Thanks for the support BRA!
Is the national treasury funds just a cashing tool? An official cashing tool?
We are not sure what you mean by these questions, but G6 Pulic Chain will also have its own official Treasury after the TGE (planned to end of September). It will have its own incentives to keep the chain running well for the public.
Farkas_the_HunGreat proposal!
From my understanding the devices of G6Networks can superbly simplify the adoptation of Blockchain for institutions.
This can be immensely valuable for the Ecosystem in terms of scaling.
ChaosDAO would like to provide the following feedback from our community. We offer this feedback voluntarily in the spirit of OpenGov, in order to help teams improve their proposals so we can all build the network together.
-
Some members suggested that if the proponents are really responsible for bringing in Mandala, they should get some benefit of the doubt for that solid accomplishment
-
Others were more skeptical and didn't understand the need for this BD project
ChaosDAO votes as a collective based on the results of our anonymous internal voting procedures. Our members are not required to provide any feedback about why they have voted in a particular direction. Similarly, to respect our members' right to anonymity, we will not be sharing names of individuals who have chosen to voluntarily provide feedback.
Hello @ChaosDAO ,
Thank you for sharing your feedback. It is correct Gabo and me are the ones who traveled to Indonesia, spent 2 months there to start the first physical Polkadot Hub, built our network there and brought Mandala to Polkadot.
Mandala's parachain is already running on G6's base technology and we are confident we can bring more institutions to Polkadot by developing a ready-to-go solution for them which we request funds here for. Institutions need an interoperable and private solution, but they dont have years to build it.
We reqest the funds from the Treasury so we build this system for them and can offer a way to connect to Polkadot through the coming G6 parachain. On our website you can find our tech stack, whitepaper and details: https://g6.network/
Reasoning: Institutions would not choose to build a public parachain most of the time for many reasons (lack of privacy eg GDPR, data security, lack of permissions, etc), but they are more than open to use a private ready-to-go blockchain solution. Inbuilt with Substrate and G6 Dashboard they exactly get that. We know their needs well as we have 2 years+ consulting them.
If you as ChaosDAO are open to change your vote, we are happy to explain you more here or in a videocall.
Thanks for the proposal.
- You seem to be offering an institutional blockchain package complete with hardware. However, I think the proposal misses the point of why institutions should need blockchain technology for their private storage or inter-communication needs. I find the effort unjustified. Centralized storage and communication technologies are much faster and more efficient compared to blockchain, and I'm not seeing a product-market fit here. You also mention in your proposal that 'many institutions and businesses are interested in blockchain simply out of FOMO and hype trends.' I agree, and it seems the proposal is offering a solution without a problem, which is unfortunately the case with most ecosystem experiments.
- There is an increasing trend among companies that are unable to fund themselves through real-world investment sources to try to utilize the treasury as a kick-start funding mechanism. I think it's unfair to the token holders to fund projects of this kind without solid returns to the treasury.
For these reasons, I must reject the proposal.
Regards, kukabi | Helikon
Dear Kukabi,
Thank you for your response. I must express that I find the rationale provided both unjustified and personally offending, particularly from my perspective as the project's architect. My guiding principle has always been to develop solutions with practical, real-world applications, things that make sense.
Institutions are interested in blockchain for immutability, security and distributing their infrastructure. Certifications, judiciary, voting, copyright, treasury, anti-corruption/anti-fraud measures and many other use-cases stand strong here.
The question is no longer whether institutions should adopt blockchain technology; it is a matter of when. In a few years you are going to see meaningful adoption all over, all based on interoperability and DID. Our goal with this proposal is to be there at the right time, bringing institutions to Polkadot.
For the second part of your comment, our team will reflect on.
Kind regards, six
Dear @Helikon
Thank you for your comment. While we appreciate your perspective, we believe there may be some misunderstandings regarding our proposal for G6 Networks and its relevance in the institutional blockchain landscape.
Firstly, let's address the concern about the necessity of blockchain technology for institutions. You rightly point out that centralized storage and communication technologies often outperform blockchain in terms of speed and efficiency. However, the true value of blockchain lies in its inherent properties of decentralization, immutability, and transparency. These characteristics are particularly crucial for institutions, especially in sectors like finance, healthcare, and government, where data security and trust are paramount.
Our proposal for G6 Networks doesn't aim to replace centralized solutions but rather to complement them by offering a secure, user-friendly blockchain platform tailored specifically for the needs of institutions. While centralized systems may be faster, they also come with vulnerabilities such as single points of failure and susceptibility to hacking. Blockchain, on the other hand, provides a decentralized and tamper-resistant infrastructure, which can significantly enhance data security and integrity.
Furthermore, our extensive research and collaboration within the Polkadot ecosystem have identified a clear demand for blockchain solutions among governments, enterprises, and banks. Many of these entities are eager to leverage the benefits of blockchain but are deterred by the complexity and lack of ready-to-use solutions. G6 Networks addresses this gap by providing a comprehensive, easy-to-implement blockchain platform that caters to their specific requirements.
As our co-founder and Polkadot Head Ambassador Six noted, we donāt just aim to bring institutions to Polkadot, but already work with Indonesia in meaningful use-cases, like DID, copyright, certificates, medical records. In the APAC region there is a huge problem of counterfeit and fake credentials. This proposal aims to build the technology that brings such institutions to Polkadot and further countries. Big entities all around the world are already onboarding, it would be a shame if we donāt act in time:
https://cointelegraph.com/news/vodafone-blockchain-integrate-crypto-wallets-sim-cards
https://www.statista.com/statistics/882459/asia-pacific-preferred-blockchain-type/
Fake Diplomas Reflect Indonesiaās Broken Education System: https://indonesiaexpat.id/education/fake-diplomas-reflect-education-indonesia/
Regarding your concern about institutions jumping on the blockchain bandwagon out of FOMO and hype, we share your sentiment. That's why we take a consultative approach with potential clients to ensure they understand the practical implications and benefits of adopting blockchain technology. Our track record of successful implementations with Mandala Chain and Mosaic Chain speaks to our commitment to delivering tangible value rather than just riding the wave of hype. If you are open for a more justified response from your side we invite you for a meeting or you can watch our Kusamarian recording:
https://x.com/TheKusamarian/status/1786465137374720422
Best regards, CCTF
Hello from Polkadotters. Making tools for institutional clients to use Polkadot tech, even if it's a private chain, seems to be a pretty good idea. Besides that, we have known Gabo and Six for quite some time from their ambassador work and we are sure they will do their best to be successful and make Polkadot a great opportunity for institutional clients to onboard them. AYE.
Thank you Polkadotters! Highly appreciated.
Hey Six,
I've been following your journey, and I'm impressed with the ambition and scope of this proposal! The idea of streamlining blockchain adoption for institutions with a ready-to-go solution, especially in sectors hesitant to dive into the technical complexities of blockchain, is smth we need to bring enterprise and business adoption to Polkadot. The physical devices sound interesting. I also appreciate the 24/7 support and white-label optionsāthese are crucial for winning over institutions that require high dependability and might prefer a branded solution.
However, as supportive as I am, I think itās wise to remain cautious about the challenges ahead. The market's readiness to adopt such innovative tech and manage the complexities of physical devices will be challenging. Plus, ensuring scalability and keeping up with the Polkadot development, like JAM, will be even more difficult, as I imagine.
But knowing your capabilities and determination, Six, if anyone can tackle these challenges, it's your team powered by Your experience and dedication to building the Polkadot ecosystem. I look forward to seeing how G6 Networks evolves and starts making waves in bringing institutions into the Polkadot.
Keep pushing the boundaries, and count me in for any support you need!
Cheers, Jimmy
With G6 Chains someone is finally taking G6 to real world institutions, integrate the technology in the industry will make the ecosystem something more than just good intentions.
The requested amount is low since working with hardware is more expensive than only software.
I totally support this project <3
Discover similar proposals
Voted Aye