Eris Industries Launches Eris 0.10

Late last year, Anthemis invested in Eris Industries. Eris was known in the Bitcoin world for having worked on DOUG, a smart contract based replacement for the Bitcoin foundation (still an interesting concept in these Bitcoin governance days). We were attracted by the quality of the team and their vision. See my blog post at the time.
Eris Industries was one of the early companies to see the potential value of permissioned ledgers and understood the need to make the creation of distributed application accessible to most developers. But at core, Eris Industries’ passion and our enthusiasm for them come from their focus on smart contracts, pieces of code with unique attributes running on a Blockchain. Distributed applications built with smart contracts have the potential to change how corporations are built, how federated organization are run and to make contracts (such as securities in the financial services world) partly autonomous entities. In my view, its one of the most exciting space in technology, because of its potential impact across multiple industries and its longer term its potential impact in redefining how our society is working (a key aspect in Carlota Perez’s theory of technology and economic cycles). The fact that Bitcoin could go from a white paper shared on an obscure forum to what is it now is just a small example of what distributed applications could do.
However most great things don’t come from planned execution but from the creative destruction of innovation. A key driver of that is entrepreneurial endeavor, especially driven by democratized, open sources tools, one of the key fundamentals of why software is eating the world – to take Marc Andreessen’s words. For distributed applications to succeed, we need thousands and thousands of people building stuff this way and for that to happen we need tools to support them. With the Eris 0.10 platform, Eris Industries is building one of those tools, an application framework to build smart contract based, distributed software on Blockchains, any type of Blockchains. Because blockchain development is important, Eris Industries will also continue its contribution to the open source Tendermint project. Researching consensus solutions is another key driver for the success of blockchains in general (permissioned or permissionless).
Some of the key KPIs in an early technology cycle are simple: lines of code and developers:
– The Eris 0.10 is available on Github, the Eris Industries team has dedicated channels to support developers and documentation/tutorials are regularly updated. Read this series of tutorials on Solidity for example.
– Several developers have started to experiment and build on the Eris platform, from large software companies, to banks, insurers and startups. Everledger is one example.
For the blockchain industry to move beyond the newspapers headlines, consultant reports and generic {we could do that} use cases we need more code to be written. Its “interesting” to write about permissioned car access, automated securities settlement, distributed Uber competitors but its way cooler to start building these. We hope Eris Industries will be one of the key partners to do so.