Blockchains looking to grow, connect at London Live Event
IOV spanned the globe last week by attending Blockchain Live in London and several events in Tokyo and Seoul.
Blockchain Live showcased many of the projects that executed successful ICOs in 2017 and 2018. Projects spanning from healthcare to finance to security located all over the world gathered to show their progress and connect with each other.
Many of these projects are developing innovative use cases for blockchains, from safeguarding identifying information (Horizen and Remme) to tokenizing ownership of art (Arteia) to safely storing and sharing medical records (Medicalchain and Patientory), and much more.
Although the blockchain space has grown quite a lot in just a year, much more growth is expected, with major initiatives announced by the UK regulatory authorities regarding open banking as well as discussions of industry-wide disruptions in energy and insurance, driven in part by initiatives of established companies in those fields.
With growth come growing pains, specifically the challenge many projects feel in developing their networks and user base.
Networks can grow apart, but to form an ecosystem they also need to grow together. Growing together requires effective interoperability, where different networks and protocols can communicate with one another, just like in the current internet.
This need to connect and communicate was demonstrated in many of the talks that took place.
A particularly insightful one was held by Jamie Burke, CEO and Co-Founder of Outlier Ventures.
Burke saw a lot of potential for mainstream blockchain adoption as it became better regulated and less anonymous.
“Unless you have a decentralized identity you cannot have a decentralized web,” he said.
Burke also turned his attention to the recent crypto market downturn and why it was a good thing for instilling discipline.
“When everyone is making money, nobody cares about process and rules,” he explained. “When people are losing money, everyone cares.”
This is good for projects that also care about following the rules!
Overall, the conference was a great one for underlying the need for IOV, the Blockchain Name Service and the Blockchain Communication Protocol for helping legitimate projects secure their name and connect with one another. By forming an overarching network of blockchains, we can bring decentralized solutions to everyone.
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