The Blockchain Summit took place in London this past week. All speakers agree that blockchain will make a radical change in the coming years. They also promote to adopt an open innovation mindset.
“We are entering the Age of Internet of Value. Soon gold, FIAT money, properties, coupons, … will be decentralized.”
As of today, money token is the most popular cryptocurrency, but new tokens are coming on the market very rapidly. The asset-based token allows the owner to hold like a share of an asset and be remunerated on the cash-flows generated by the asset. The right-backed token gives the owner a right which can also generate revenues.
What is amazing with cryptocurrencies and blockchain is that anything can have a value. Imagine for example an autonomous car that can have its own bank account and which can be paid for valued services, and benefits are then returned to the investors.
This is why speakers urge entrepreneurs to focus now on the added value services that can be built on the blockchain rather than the blockchain platform itself. Sometimes it’s not so complicated. Kickstarter for example is not more than 70 lines of codes. Main opportunities look to be in healthcare, identity, cloud storage and interbank workflows.
The Summit could of course not have discussed ICO’s. If you consider investing in an ICO, make your due diligence: check the product/service behind, the team, the advisors, … Is it real? Is there something concrete? Or is it just wind that will quickly disappear with your precious money?
The best conclusion came from Alexey Voronin from Smart Valley:
“Today, almost 50% of ICO’s are fake.”
Be careful, my friends, but embrace the blockchain revolution by creating added-value services and solving big problems.
Build the World You Love!