Four Key Takeaways from the Paris Blockchain Week Summit
Our team set up new partnerships at Paris Blockchain Week Summit — an event that highlighted blockchain technology developments in Europe. We chose the key trends from the most popular panel discussions and keynote speeches, which complement our approach and technology solution. All points at the fact that it is the best timing for the HyperSphere to build the largest secure cloud for connecting companies, people and robots. So, what are the Summit’s key moments:
#1 The importance of digital privacy is growing
People are getting more and more aware of the risk involved in sharing their sensitive information in the internet. On the other hand, there is no chance for companies to process metadata without any regulation and control. David Chum from Elixxir, in his keynote speech, pointed out that internet users demand “digital sovereignty”, so it is time for the the privacy of the individuals to be respected in the internet.
#2 Banks are keen to commercialize blockchain technology
As Mattieu Garnier from BNP Paribas said that traditional banking and financial institutions are getting more interested in blockchain technology as it offers alternative solutions at lower costs. It was highlighted during the financial panel discussion that blockchain can allow to diversify banking, and as Anthony Attia, CEO of Euronex, pointed out: “Technology is in our DNA since the dematerialization of the physical assets”, so financial institutions are interested to adopt blockchain as well as other new technologies.
#3 Enterprises are looking for blockchain solution to strengthen privacy
The solutions that guarantee privacy in any type of transactions such as Zero Knowledge Proof, which allows the network to validate a transaction without revealing the content of a transaction, are gaining momentum. It means that all crypto transactions soon might be validated without knowing the amount, the sender and the receiver of the transaction.
# 4 Companies see blockchain as mechanism for innovations but looking for combination of proven technologies
Companies want to be bold and creative in applying blockchain. At the same time they are looking for the opportunities to identify the existing business issues, considering the use of traditional IT tools, along with or before launching blockchain solutions.
Blockchain is disrupting traditional approach, making all of us to reinvent new ways of doing things in many industries. From the beginning of HyperSphere, our team strives to apply the latest technological achievements to let businesses transform their traditional approaches and explore new opportunities.
