We started a new crypto currency position last week – its our first buy on Golem. This company and concept is exciting, this group of developers is building a global network of what they believe will be the future of internet. Some call the concept the AirBnB for computing.
This is from the company’s site (https://golem.network) – “Golem is a global, open sourced, decentralized supercomputer that anyone can access. It’s made up of the combined power of user’s machines, from personal laptops to entire datacenters. Anyone will be able to use Golem to compute (almost) any program you can think of, from rendering to research to running websites, in a completely decentralized & inexpensive way. The Golem Network is a decentralized sharing economy of computing power, where anyone can make money ‘renting’ out their computing power or developing & selling software.”
The vision that Golem has for building an ecosystem makes a lot of sense and we can easily see where this can be the future of computing. This is from their Whitepages:
Golem as an Ecosystem
Golem’s business case boils down to the fact that, due to relatively recent technological advances, the market for computing resources can be organized according to entirely new principles. In contrast, the compute market today is dominated by heavyweight players such as Amazon, Google, Microsoft and IBM, who leverage their market power and assets to ensure hefty margins, resulting in inefficiently priced compute services. Luckily, the market is not doomed to function this way forever. With Golem the supply of computing resources is based on contributions of individual and professional providers, combined with an array of dedicated software solutions via Golem’s Application Registry – itself operating on a single and competitive market with nearly complete information market.
Scaling the compute market enabled by Golem requires onboarding three groups: suppliers of computing resources (“providers”), task creators (“requestors”) who submit their tasks to be computed by the network, and of course, software developers. These three groups comprise Golem’s unique, interdependent ecosystem.
The Team behind Golem is very talented it seems as well. All the above is more then enough to see how there could be significant upside in this coin and project. Only time will tell if this group can execute and solve the problems they hope to, so in the mean time we will take a core position and begin to work this position, adding and reducing our risk along the way.