EARLY BRANDS Innovation and Technology consultants live from BLOCKCHAIN MASTERS 2018
Our impressions and thoughts about blockchain innovations and enthusiastic people who create our future
Blockchain provokes discussions across different industries. Is it just a hype? Or does blockchain have the innovation power to change entire industries disruptively? With our impressions from BLOCKCHAIN MASTERS, we give you inspiration and food for thoughts. On 6th of May 2018, we met international blockchain experts and decision makers for personal exchanges and networking.
EARLY BRANDS Insights: Alexander, you and our colleague Elena are currently on BLOCKCHAIN MASTERS 2018. What are your personal highlights and impressions about the blockchain community and your conversations on site?
Alexander: First and foremost: Today, conversations related to blockchain are not only about buzz words like BITCOIN, MINING and fast profits with ICO’s. The European and international blockchain community more and more focusses on customer values and benefits: Innovative use cases by which distributed ledger technology offers many advantages.
EARLY BRANDS Insights: How do you come about that? Can you give us some examples from BLOCKCHAIN MASTERS?
Alexander: Here and now, live in Hamburg Daniel and Jens from BEAT FOUNDATION are good examples. Their innovative BEAT Blockchain enables sportsmen to make money when sport corporations use their personal data from wearables like Fitbit etc. – totally democratic and without the need of intermediaries.
Live from BLOCKCHAIN MASTERS: Jens and Daniel from BEAT. Blockchain applications concerning sports, health and wearable data.
This example shows how blockchain and it’s underlying distributed ledger technology create high values and benefits. Token sales as an instrument of project and corporate financing additionally create a brand-new positive competition for classis forms of financing like venture capital. The value for startups, early stage tech companies and growth investments from ICO’S in 2017 was three times higher than for venture capitals. This was accelerated in 2018 again. Current numbers form Crunchbase: 900 million US dollar from ICO versus 300 million US dollar from venture capital investments.
EARLY BRANDS Insights: Are there any other innovative blockchain projects from BLOCKCHAIN MASTERS or from EARLY BRANDS Innovation & Technology consultant projects that inspires you?
Alexander: Here, live from BLOCKCHAIN MASTERS as well as in our EARLY BRANDS innovation projects with leading companies, we see a lot of positive and exciting developments and promising blockchain use cases. It is all about realizing innovative business models by using the benefits of blockchain.
EARLY BRANDS Insights: What do you think: Which sectors and industries will most be affected by innovations of blockchain in the near future? Key word: Disruptive innovation
Alexander: Already today, we can see how blockchain innovations dynamically drive changes in the energy, consumer goods, trading and especially in the finance sector. As an example: power exchange Enerchain secures fast energy trade with blockchain innovation, without the need of intermediaries. This is enabled by a decentralized peer-to-peer trading platform composed of almost forty energy companies from Eon, RWE to Statoil.
Comparable business models can be found in the finance sector: Bank lending is processed by blockchain-based peer-to-peer lending – without banks as intermediaries between individuals. Startups like Eth-Lend from Estonia or Celsius have the potential to disrupt our current banking systems.
Our thesis: As teenager could send their pocket money to friends at the simple touch of a button on snapchat today – they surely will love uncomplicated transactions with 100% control about their identity and data. Whether lending money to friends or earning money when watching advertisements. Another example related to trade and consumer industry: Today Walimei from China impressively shows how blockchain in combination with RFID label technologies enable 100% safety for baby food in China.
EARLY BRANDS Insights: With your experiences from BLOCKCHAIN MASTERS in mind: what gives innovative business models concerning blockchain that much thrust?
Alexander: Positive thrust is also given by regulatory environment: Beside Singapore, Swiss or Lichtenstein also in Germany we see efforts to create clear and liberal regulatory standards for startups and innovations related to blockchain. Requirements for token sales increase and were controlled clearer. And that is a good thing. It facilitates to recognize and promote positive blockchain projects earlier and easier.
EARLY BRANDS Insights: Last but not least: What makes the blockchain scene and people involved in BLOCKCHAIN MASTERS so special?
Alexander: The blockchain community is very multifarious. Simultaneously, there is a connecting similarity: The effort to enable democratization of databased business models with innovations. The key drivers are digital assets and protocol-based utility networks which create incentives for both: consumers and companies.
EARLY BRANDS Insights: How can this democratic attitude be seen on BLOCKCHAIN MASTERS?
Alexander: We can experience that here and today in personal exchanges with many different and exciting people. At the very front: Taavi Kotka from Estonia.
Live from BLOCKCHAIN MASTERS: Taavi Kotka, Pioneer from e-Estonia and co-founder of e-Residency program from Estonia.
His country literally loves blockchain. Already today Estonia is a digital society – very successful and harmonic with a digital ID for citizens and companies. The result: Fairer taxes, faster information in health systems, a more spirited startup culture. Another example: Bundesverband Blockchain. Composed of people who voluntarily make efforts that on levels of federal government and the European commission the following will happen: Recognize the chances of blockchain for our economy and for our social relations in Europe. Create token regulations positive.
Thanks to the organizers of BLOCKCHAIN MASTERS most notably to Verband der Internetwirtschaft ECO with many very dedicated people here on site.
Clear message from BLOCKCHAIN MASTERS: Companies in Germany and within Europe should not oversleep blockchain. Let us get started. With innovative business models that offer added value for people and our markets.
Catch the Future…!