It was a pleasure to speak at the wold’s largest Blockchain Summit Series this past Friday 11/9/18. The World Blockchain Summit is a global series of elite gatherings that takes place in 15+ destinations across the world. This conference also featured a $1M ICO Pitch Prize to winners!
I discussed the 2019 Blockchain and ICO market forecast. As we all know, this has been a wild and dynamic year in this industry on a global level.
As I believe Bitcoin is finding its base like a regular stock, I believe the industry overall is finding its base on a universal level. It’s a good thing what has been happening the last 5-6 months, as it will make room for the real projects and companies with actual substance, legitimate talents in this industry to rise even further, a better perception by the public, corporate enterprises, and governments that still need persuading, and new opportunities on a multifaceted level.
Blockchain Adoption in Europe
In terms of blockchain adoption, Europe has been taking a step forward since 2018, exploring ways of implementing it such that the blockchain technology boom benefits various business sectors.
Using blockchain within the banking system is a great way of leveraging its versatility and in 2018, We.Trade, the blockchain platform run by IBM, managed to conduct the first ever customer transactions between a number of European banks, in real time! Europe has also been exploring the potential of blockchain use in order to reduce frauds and shorten document turn-around duration within banking institutions by leveraging the security of distributed ledger technology.
Not just banking, the European blockchain market is also taking over the insurance industry, a sector notorious for not joining the technology bandwagons usually. But 2018 has seen the German corporation Allianz testing a new token to be used internally in their revolutionary captive insurance market, which is based on blockchain itself!
European Blockchain Collaboration
Groups and associations formed to debate the merits of the technology and ensure its effective implementation have also surfaced on the scene. The European Blockchain Partnership consisting of 22 European countries and the European Union Blockchain Observatory & Forum, which is a European Commission endeavor, are just a few examples of joint bodies attempting to help Europe emerge as a global leader in the use of blockchain technology. In the latter association’s 2018 report, they also endorse Maya Gabriel’s idea of creating a Digital Single Market for blockchain in order to make it accessible for all citizens then just a few.
As the president of La Chaintech points out, European institutions have indeed been changing their outlook towards blockchain technology, heralding great transformations for its market. These are the changes that are paving the way for blockchain use in 2019, and I am very excited to experience the heights it will reach.