Prior to Bitcoin Wednesday conference on 7 February 2018, Gabriel Kurman, co-founder of RSK (Rootstock), spoke to Frans Kempen, IBM’s Blockchain Practice Leader for the Banking and Insurance industry in The Netherlands and Belgium, during an exclusive interview about the creation of smart contracts for the Bitcoin blockchain.
Gabriel discussed where the idea for RSK came from and in what ways it augments the functional capabilities of Bitcoin:
RSK was created as a necessity in order to create something with the security of Bitcoin with flexibility and programmability of smart contracts. It is a two-way peg of Bitcoin, which acts as a drive chain with a simplified version that allows us to use Bitcoin to pay and execute smart contracts. We also allow Bitcoin miners to merge mine. So with the same infrastructure and same energy consumption, we can now secure any kind of tokens and smart contracts, making mining and its energy consumption more efficient. Interestingly, eventually on RSK, you are going to be able to do ICOs or token sales directly in Bitcoin. RSK is just infrastructure; we are building, hopefully, the most secure and low-cost smart contracts platform in the world.
See Gabriel’s full presentation.