A Review of Blockchain Investment and Where Delta Summit Could Lead Us To?
Industry heavyweights share their visions of blockchain and what we can learn from them?
The annual DELTA Summit in Malta is just around the corner, and it’s one of the most important events in the blockchain and crypto industry. The Summit is expected to showcase the latest development the emerging technologies, as well as the vision of the future regulations. The timing of the conference came especially interesting because institutional interest in crypto investment has been higher than ever, and the global spending on blockchain solutions has been growing in a significant way that we haven’t seen before. What should we expect from the latest edition of the Summit? And what industry leaders could tell us about the future development of the blockchain world.
Macro Blockchain Investment
The year 2019 marks the 11th anniversary of the born of blockchain, despite the existence for more than a decade, many people still confused about this groundbreaking technology and everything comes with it. Thanks to the rapid increase of research and investment and in the blockchain sector, and the growing adoption of blockchain applications globally, there are more businesses and individuals that able to take advantage of higher protection in data privacy and conduct business transactions more securely.
The global investment in blockchain has been growing at a high-speed, and experts believe this trend is likely to continue in the coming years. A report from IDC shows the global spending on blockchain solutions is expected to reach nearly 2.9 billion US dollars this year, it represents an 88.7% growth year-on-year. The report also expects that blockchain spending will grow at a robust rate throughout 2018–2022, with a five-year compound annual growth rate of 76.0%, makes the total spending to reach 12.4 billion dollars in 2022.
Figure 1: Global Blockchain Solution Spending and Forecast
Sector-wise, banking, and financial services seem leading the investment in blockchain. IDC’s data shows that these sectors will pour 1.1 billion dollars, and that followed by manufacturing, resources and service industries.
Figure 2: Top Use Case Based on 2019 Market Share (Value (Constant Value))
Jessica Goepfert, Vice President of Research, Analysis and Consulting at IDC said “The use cases that comprise the blockchain opportunity are developing as swiftly as the technologies enabling it. While spending for more developed use cases in the financial sector like trade finance and cross-border payments is still healthy and growing strong.”
Despite the increasing investment interest in the blockchain-related industries, regulatory concerns have always been a top priority for both investors and industry players, especially in the cryptocurrency segment. Even though the overall regulatory landscape seems tough for crypto, some experts remain hopeful in the token offering area. In a recent CNBC interview, Muneeb Ali, CEO, and co-founder at Blockstack said, he is cautiously optimistic about the work that the SEC is doing. He added that more SEC approved token sales from several exchanges are in the pipeline, however, the approval process could be very slow, but it could give cryptocurrency businesses a new fundraising template.
Moving to a macro picture, more countries and regions are reportedly have been leaning toward the crypto side. In light of Facebook’s Libra project, the European Union is reportedly in a discussion of creating its public digital currency, while China also has a state-backed national cryptocurrency in mind, although authority has stated that there’s no timeline on the launch. Those are some of the signs that crypto is going mainstream, and as this transformation goes on, crypto regulations could follow suit. Some crypto critics also believe that a unified global regulation framework could also be a viable solution.
What to expect in DELTA Summit?
The Maltese government has put tremendous efforts in terms of supporting the Summit, as well as promoting blockchain technology at large. Numbers of high-ranking Maltese government officials are expected to give keynote speeches at the DELTA Summit, including Prime Minister Joseph Muscat and Junior Minister for Financial Services Silvio Schembri.
Ahead of the summit, Schembri said:” This year’s DELTA Summit will further the discussion on the future of this industry, with Malta serving as the prototype for being the first world jurisdiction to issue licenses to operators who had the foresight to commit themselves to make Malta their home.” PM Muscat and Schembri are expected to shed light on the latest regulatory development, and how the EU and other major economies could adopt the Malta model in crypto and blockchain regulations.
Abdalla Kablan is another key speaker to look for, as the Executive Chairman of DELTA Summit, Kablan specializes in the financial applications of AI and machine learning. In a recent event, Kablan discussed building a responsible and ethical AI system. Kablan is expected to further elaborate on the AI topics at the DELTA Summit.
Besides, hundreds of key crypto industry players such as OKCoin CEO Tim Byun, OKEx Head of International Strategy and Innovation Enzo Villani, NEO CEO & Co-Founder Da Hongfei, and Rick Tumlinson, Founding Partner at SpaceFund, will also be expected to speak and network during the Summit. We will bring you the latest news of the Summit with on-the-ground coverage from Malta next week so stay tuned.
Disclaimer: This material should not be taken as the basis for making investment decisions, nor be construed as a recommendation to engage in investment transactions. Trading digital assets involves significant risk and can result in the loss of your invested capital. You should ensure that you fully understand the risk involved and take into consideration your level of experience, investment objectives and seek independent financial advice if necessary.
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