London Expo day oneThe first day of the London Blockchain Expo has come to an end. This is a very small recap so you all know what’s been going on. The expo started today around 9am. The Blockchain expo is a mixture with another event “IoT future”. So there were a lot of people in the area looking for the next tech. The middle section of the expo was reserved for stand holders in Blockchain related businesses that want to showcase their product or solution. There were two stages where all kinds of subjects were discussed. To be honest, it was a bit overcrowded at some times. People could not enter the room because it was packed. Lucky me i was there early and had a front-row seat.
During the last few conferences i have seen a lot of the same people again and again. Those people giving a presentation are probably making a living on hopping from one to another expo telling the same story over and over again. Hyperledger, MS Azure or Everledger. All there. But, the tone of voice and focus has been changing this last year. What i experienced is that Bitcoin and Blockchain are two separate things nowdays. A year ago Blockchain was named (and judged) in the same sentence over and over. Bitcoin this, Blockchain that. People only talked (or asked questions) about the BTC thefts for example. In this expo i heard almost nothing of that. People are valuating Blockchain for the technology it is rather then valuating a BTC value to it. Yes we do question the legal issues that could potentially arise in for example Smart contracts. We dont have the answers to that yet they all say.
I have seen a “let’s do it” mentality and a lack of good Proof of Concepts. There were some showcased, but all in a rough, sketchy and fast forward mode because of time limitations. There is a gap between the technology owner and end-user. “what can i do with Blockchain?” is the question i got asked several times. “what can it do for my business?” they ask. That said i think there is a task for all of us to educate businesses in Blockchain. There are companies starting as we speak trying to fill in that gap. They listnen to the customer and provide a solution for their question. It is not about the technology used, but more the overall solution that will benefit their use case.
A lot of sessions gave information about their clientele and their requirements. It basically all came down to one thing and one thing only: TRUST. If companies want to use Blockchain technology they want to trust the technology enabler because they store their data in their chain. I have learned that there are not many Blockchain projects that could pass that trust request. I have learned that I/O Digital DOES pass that test. When i was describing our Foundation setup with the board, board of advisors and notary guidelines, people were amazed. “professional and forward thinking” they said. Nothing like what we have experienced before they said. Trust is the one thing that needs to be there before any company would even consider talking to you. Enabling a Foundation and function the way we do gives businesses confidence that we are a solid partner. Thats what i have been told a few times today. Trust +1
Next thing what these people admire and give much credit for is that we put our money where our mouth is. People may not know that the IO team have been privately funding the project since start. No ICO, no premine. "you say what??, you are kidding me" they say. They are not used to it apparently. Businesses i talked to actually said to me they rather co-operate with a project who paid the project themselves and really deliver working technology than co-operate with a multi million ICO that is just burning cash without any delivery. Another trust +1
Showing face is one as well. "why are you here?" they ask. "because i want to keep learning and talk to potential Blockchain adopters" i say.
They love the fact that we show face and put effort in getting to know the potential adopters. Trust +1
The other thing that was mentioned a few times is that, just like our vision in 2014, there will be more then just one Blockchain. A year ago people were only talking Bitcoin and data on the Bitcoin chain. But the overall feeling is that the Blockchain world is evolving faster then Bitcoin can handle. Bitcoin is considered a dinosaur. Therefore i witnessed that Bitcoin was not mentioned even once in any solution. Not once. I have the idea that Bitcoin will be left behind to die if you talk about Blockchain projects and will only be used for the payment industry eventually.
Interoperability between public 2 public Blockchains and even public to private Blockchains is something that will be needed in the near future. Thats exactly where Chameleon will come in and be the “middle-man” for cross Blockchain communication. “there will be thousands or even hundreds of thousands of Blockchains” they said.
Today was a long day with a lot of information. My conclusion is that we with I/O Digital are on the right path and have foreseen back in 2014 what the eco system in Blockchain land will be. Our ideas on how the organization should run, how the features of IO will / could be utilized, Chameleon, project sunrise and everything we do were confirmed by many people i spoke and listened to. We are on track!!!! even further then most other projects.
I have also learned some stuff i need to discuss with the team (positive things) and will make us even stronger in the near future.
Tomorrow is day 2. Hope to speak to a lot more people. The pens, flyers and business cards were distributed and i have a new batch for tomorrow.
Also will have a fully functional DIONS HTML5 wallet (on testnet) to show for!!! whoot!!
For the new people around. Our foundation website:
www.iodigital.ioCheers,
Richard
