Tagged: blockchain

The European Blockchain Convention Arrives In Copenhagen For The First Time

The cryptographic ledger technology blockchain is experiencing a quick escalation that is disrupting several industries and businesses around the world. More than 35 experts and 400 participants will gather next 20th of May in Copenhagen to discuss the impact of blockchain in pharma, shipping and logistics, government relations services, and finance.

McKinsey Digital

A decade after the invention of blockchain, the discussion regarding this technology has moved away from the use of bitcoin and other cryptocurrencies and has evolved into a conversation on how to automate and make any transactional process more secure through the implementation of this open, anonymous and distributed ledger.

Read It’s Not About Bitcoin, It’s about Blockchain

Just a couple of years ago, in 2015, the Business Intelligence enabled market research database, Grandview Research, released a market research report on blockchain technology based on information from the U.S., Canada, Mexico, U.K., Germany, France, Japan, China, and Australia that included a forecast of the implementation of the ledger between 2018 and 2024. In the report, Grandview Research estimated a Compound Annual Growth Rate of 37,2% over the forecast period.

Grandview Research

According to the report, “healthcare and public-sector applications are expected to witness enormous growth in the years to come.”

Blockchain Technology Market Size, Share & Trends Analysis Report

The Deloitte’s 2018 global blockchain survey: Breaking blockchain open polled a sample of 1,053 senior executives in seven countries (Canada, China, France, Germany, Mexico, United Kingdom, and the United States) at companies with $500 million or more in annual revenue. The survey revealed that the largest professional service network’s clients are “making meaningful investments in the present day, starting new businesses based on the unique value proposition offered by blockchain and tokens.”

Deloitte’s 2018 global blockchain survey: Breaking blockchain open

Only in the European Union, €300 million will be allocated in blockchain investment over the next three years, as part of the European Blockchain Partnership (EBP). The partnership “will support the delivery of cross-border digital public services, with the highest standards of security and privacy.”

The European Blockchain Convention 2019

The first Nordic Edition of the European Blockchain Convention will take place in Copenhagen next 20th of May. The main theme will be “Building the Foundation of Blockchain and the Digital Economy” and it will include 10 panels and 40 speakers from Denmark, Sweden, Spain among other European countries, the United States and China.

According to Daniel Salmerón, co-founder of the Convention, this is a platform for the whole blockchain ecosystem to gather. He added that the idea is to “encourage networking, projects and ideas sharing. We want that if you have a project for which you need a developer, you will come to a conference and maybe the person by your side is that developer, or if you are looking for an investor you have the opportunity to talk to them, or if you are looking for a project to invest in you find valuable startups.”

The Convention will address several issues related to blockchain and the needs of the Nordic countries through several panels:

  • Blockchain for Government and Public Services. Real-time Data Collection. E-Identity.
  • Going Cashless: Central Banks and Digital Currencies
  • Mapping the Global Legal Landscape of Distributed Ledger Technologies
  • The Path to Institutional Acceptance of Digital Assets
  • Blockchain in Shipping & Logistics
  • State of Technical Aspects of Blockchain Technology: Security, Scalability, Interoperability, and Adaptability
  • How Blockchain Can Revolutionize the Pharmaceutical and Healthcare Industry
  • Blockchain 2024: Five Years From Now

It’s Not About Bitcoin, It’s About Blockchain

While the world is discussing if Bitcoin is a bubble or not, Nakamoto (whoever this is) is probably smiling, watching his experiment succeed. “Bitcoin is changing finance the same way the web changed publishing”, can be read in weusecoins.com.

Bitcoin’s technology solves the problem of inflation, double spending, censorship and costly intermediation. No wonder banks are so against it (and investing in it at the same time). The so-called cryptocurrency reached an astonishing value per unit of US$17,539 at the time this article was written.

Bitcoin Wallets

Bitcoin is a cryptographic file, with a specific number on it which we can use to make transactions online. So far there is nothing to freak out about considering that 92% of all the traditional money in the world today is not physical, as reported by The Money Project. In their research, The Global War on Cash, they state that only in five years, from 2010 to 2015, cashless transactions increased 50%, from 285.2 billion to 426.3. Due to the inflation-based economic system, the buying power of a US$100 bill in 1915 is equivalent today to US$2,390, according to Dollar Times.

Bitcoins can be divided into a hundred million (100,000,000) fractions. There are 21 million units (enough to give each person in the world 276,315 fractions, valued today in $US48.4), which makes them “completely inflation free”, as explained by their unknown creator, Satoshi Nakamoto in 2009. They can represent many kinds of property, currency or stuff but their truly revolutionary aspect is the technology they roll on: the blockchain.

In words of Alex Tappscot, founder of a firm that invests in blockchain market companies, it is “the internet of value”. Blockchain is a public ledger in a network where transactions are not reversible and allows trade without intermediaries, just like cash. In the introductory video of the official website bitcoin.org: “this means that the fees are much lower, you can use them in every country, your account cannot be frozen and there are no prerequisites or arbitrary limits.”

Even if the financial establishment finds a way – which probably will – to monetize Bitcoin in their favor, the blockchain is already in motion and it will be to the financial system of the 2020s what bar-codes were to commercial one in the 1980s. But greater.