Iexec is a fully distributed cloud for blockchain based distributed applications running. It is built as a Dapp working on the Ethereum blockchain. In short it’s a decentralized network allowing users to buy or sell processing power for their applications.

1 — the keynote

Gilles Fedak, CEO of exec will give a presentation speech at the Ethereum Developers Conference this November.

2 — the V1

During the Devcon 3, iexec will present the V1 that will enable Dapps running on the Ethereum Blockchain to access off-chain computing resources. It’s the first product release of the team.

3 — the team

Speaking of a « solid team » became kind of a platitude in the blockchain sector with the multiplication of ICOs, however for iexec it’s a reality:

• Gilles Fedak has a PhD in comp sci and is researcher in distributed computing at the INRIA (French Institute for Research in Computer Science and Automation), a prestigious french research organism on computer science with a recognized background in Parallel and Distributed Computing. He publishes and works on the subject since 15 years and produced pioneering softwares and algorithms in the field of Grid and Cloud Computing that allow people to easily harness large parallel systems consisting of thousands of machines distributed on the Internet (XtremWeb, MPICH-V, BitDew, SpeQulos, Xtrem-MapReduce, Active Data, …).

• Oleg Lodygensky has a PhD in compsci and was a researcher at the INRIA like Fedak, he was the main developper of XtremWeb-HEP, the open-source software for Desktop Grid computing used in production at Institute for Nuclear and Particle Physics.

• Haiwu He has a PhD in compsci from Lilles and is professor at Chinese Academy of Science in Beijing, his research interest covers P2P distributed system, Cloud computing, BigData. He was ranked among the top 100 innovators by FastCompany China.

Haiwu He and Gilles Fedak presenting iexec to professionals in France and China

4 — a franco-chinese project

The binational aspect of the company opens market opportunity both in the West (notably the biggest market in the world: the EU) and in the East (mainly China, the #1 economy of Asia), Gilles Fedak and Haiwu He have already attempted a lot of events in academic and business circles during the last months to explain their project and build a network and it’s only the beginning, the rhythm should accelerate after their first release

5 — low market cap

Right now the market cap is around 40 millions $ and below ICO price BTC wise.

6 — blowing the competition out of the water:

Golem and SONM are the main competitors but none of them have the expertise or the recognition of the iexec team, the struggle of Golem to deliver the brass compared to the undelayed release of the V1 proves that there is a sharp competence gap between them. The team knows the tech better than everyone else.

#7 — the Enterprise Ethereal alliance
Iexec is one of the few EEA member among Ethereum projects.

8 — decentralized cloud computing is the future

There are a lot of new ideas for blockchain applications right now, some have already proved their utility but the vast majority is yet to demonstrate not only that they have a tangible application but that there is a market for them too. iexec doesn’t have this problem, the cloud computing is a booming market and fueled by a growing thirst for processing powering in various domains ranging from scientific research to game servers. Cloud computing is anticipated to represent a 162 billions $ market by 2020 (x2.5 in 5 years!).

9 — a new marketing force by November

Biggest issue with iexec until now was the lack of real marketing, the team has done a lot to communicate on the technical aspect and create relationships in the business and academic world, however the public awareness is still quite low compared to its competitors, this should change after the release of the V1 with a new website and a high profile marketer (if it doesn’t work there are still the /biz/ memes anyway).