Crypto Assets Conference: enterprise domain vs public blockchain
Authors: Ilia Stechkin, Jevgenis Vainsteins
Right now one of us is working at the Token2049 conference in Hong Kong, and the other is sitting in Israel and waiting for news, predictions and some feedback about the project we are growing. This month was very busy for the whole team as we were preparing the new level of the campaign with the very ambitious target to conquer Asia-Pacific region. We want to be there not only to attract new investors, but also to aggregate secondary ticketing market. We’ll tell you more soon about how it’s going. And now let’s go back to the Crypto Assets Conference that took place in Frankfurt, in the end of February. We were not able to tell you the story about this part of the roadshow and we are ready to do it now.
First of all we were lucky enough to pitch the project from the stage. Here is the video of the presentation made by Jev:
But other than that we were favorably impressed by the context, which was distinctly different from the Bitcoin Superconference in Dallas in the middle of February. The event in the US was mostly about freedom, security and privacy. Tim Draper said that venture capitalists provide bad service at a high cost. Experts in Germany agree: ICOs are now disrupting venture capital. James Altucher said in the US that from the transactional perspective two is company, three is none. Europeans agree that the technology is the intermediary of tomorrow.
US crypto enthusiasts are concerned with regulation of the crypto world. Contrariwise, the conference in Germany was mostly about regulations, adoption of the blockchain by traditional banking etc. For example, the presentation by Alexander Culum from Brainbot was titled “Driving Blockchain Adoption: The Challenges ahead”. He spoke about scalability, usability and accessibility. As to accessibility, his statement was: “You still need the old financial system”.
According to this statement, we were pleased to hear from Dirk Bullmann, Directorate General Market Infrastructure and Payments at European Central Bank. His presentation, named “Blockchain from a central bank perspective” was meant to make an example of the truly European approach to the blockchain. This is mostly two-layered discussion about asset and infrastructure technology or cryptocurrencies and blockchain as is. His main message was really optimistic to the crypto community:
Market infrastructure services need to keep pace with technological advance and changing user needs”.
Other experts agreed: in 10 years blockchain will be the underlying technology for the enterprise segment. But that’s completely different prediction in comparison with earlier Draper’s statement about cryptocurrency in Starbucks.
The Crypto Assets Conference was hosted by Frankfurt School of Finance & Management. Prof. Dr. Philipp Sandner from Frankfurt School Blockchain Center announced the Ethereum Camp in Berlin (March 26–29).
Ethereum Camp is a 4-day-hackathon. The idea is to empower blockchain enthusiasts to transform their ideas into real prototypes and new business models by providing a best-in-class expert network and learning environment. That’s not about cryptocurrency, that’s about blockchain for the IoT.
It is necessary to note that the idea of the camp is correlating to the topic covered in Hong Kong by Ben Goertzel from SingularityNET. He spoke about the decentralized future of AI. So we can see that both IoT and AI are interested in the blockchain. The idea of de-articulation of the blockchain into two parts (technology itself and cryptocurrencies based on this technology) proposed by Mr. Bullmann seems very promising for the community because it gives confidence in the development and growth even after the crypto goldrush. Dr. Sandner finds it vital to change educational programs in Business Administration because the business reality is changing under the tech pressure. The significant shift is related to the meaning of term “asset”. Information is the value that could be transferred securely with the blockchain. For example, your medical data could possibly be much more valuable than your money if you needed to save your life.
Dr. Sandner raised the problem of the gap between traditional financial system and the crypto world. He said: crypto universe is more or less entirely disconnected with wired economy. The ups and downs of the cryptocurrency do not have a significant impact on the world financial indicators. And he admits this situation should change in the near future. He can not imagine that crypto assets will be forbidden. But 60% — 70% of crypto exchange projects will be closed because they will not be able to feed new rules.
Also he said that at the moment “fiat vs crypto” is a sort of game: “Big players (like Siemens) vs Startups”. But bridges between traditional enterprises and financial institutions on one side and crypto universe and startups on the other side are being built now. And this building is inspired by the idea of larger ecosystem, thus organizations like Ethereum Foundation are contributing a lot to the success of this concept.
We sincerely appreciate Dr. Sandner for the idea of turning our marketing and business development activities to Asia, especially to China and Japan. The idea is that if Japan is early adopter of the technologies in general and blockchain in particular, China is “sleeping dragon”. But China needs blockchain as a tool for stable international trade. According to this, the next stop of our roadshow in Hong Kong seems very logical.
Stay with us for more details!
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