What we learned at The Financial District of EOS 2018
On September 29, WORBLI held its inaugural online conference, The Financial District of EOS 2018, and what a success it was! Just under 400 delegates logged in for this massive EOS community event to get informed on the latest blockchain developments in the world of finance. The conference was a chance to be educated about the value proposition offered by the innovations in the EOS ecosystem and the future of blockchain as a whole. Here are some of our key takeaways:
WORBLI and EOS: One community, two chains
For a while now, WORBLI has been working to communicate its status as an EOS sister chain or “soft fork”. The event was a great chance for the CEO and founder, Domenic Thomas, and the team to clarify just how WORBLi fits into the broader EOS community. Some additional clarity was also brought by our block producers, specifically Shaheen Counts of EOS Blocksmith who invoked the analogy of China’s one country, two systems. “Hong Kong is a part of China, but it also isn’t. It has its own government and its own business regulations, which are different from the Mainland and that’s out of necessity because Hong Kong interacts in a different way to Mainland China — so they’re together but they’re different,” explained Shaheen. “I see that as similar to WORBLI’s relationship to EOS Mainnet. In the sense that its all part of the EOS ecosystem but Worbli has very specific needs and a way that it is going to interact with the rest of the world”.
“Disruption begins with adoption”
During the event’s second panel discussion, Nathan Rempel of EOS Metal, made the point that “A state of disruption begins with a state of adoption”. This is relevant for WORBLI and EOS. Igor Lins e Silva of EOS Rio added: “WORBLI will bring EOS to a lot of people that are interested in financial services, that usually don’t [use] open blockchains. This can bring EOS as a first use case for the blockchain.” But the idea of mass adoption not only sums up a lot of WORBLI aims but it also articulates one of the major challenges facing blockchain today. Blockchain has built up a massive following and has created a lot of buzz but it is not changing the world just yet. The consensus is that finding a path to true mass adoption is the next logical step for the industry.
A force for improvement and a force for good
While mass adoption will benefit the blockchain ecosystem, the idea is that the real benefit will be with the users. The philosophy of financial inclusion forms the ethical core for most of the blockchain industry, EOS and WORBLI are no different. “At WORBLI we have a global mindset about what we want to do, which is to bring financial services to all corners of the globe,” explained founder Domenic, reminding us that WORBLI stands for “World Blockchain Initiative”. He added: “We want to bridge the gaps for the people who don’t have access to financial services”.
David Packham of EOS42 expanded: “When I talk about economic and social impact, I look at the potential of a chain like WORBLI to expand real-world banking to a greater range of people. WORBLI is a financial services network and ecosystem where developers, enterprises, and individuals can access a broad range of technology and a variety of advisory services. What excites me most is the potential for development on a platform that has that real-world interfacing and compliance”
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