The Paris Blockchain Week Summit began with an informative speech that kicks off the exciting 2-day event. Industry professionals and academics are busily preparing for upcoming events that follow today’s key moments.
Opening keynote Speech by David Chaum, CEO of Elixxir
Today, David Chaum focuses our attention on the importance of the Digital sovereignty which is, according to him, the main needs of the consumers and users in the modern world.
The way institutions and organizations are processing metadata, which gives a lot of information about people (location, person they discuss with, …) without any regulation and control is no longer an option. Consumers / users are increasingly aware of the situation and claim for the protection of these metadata. Thus, it defines the primary needs of consumers:
- Speed (of transactions)
- True privacy (protected sphere of data)
- Scalability (volume of transactions)
Chaum and his project Elixxir are trying meeting those needs by proposing a transaction platform running on a full-stack blockchain. Elixxir is thus founding its platform on nodes allowing a privacy-protecting mix network that can support messaging, payments, and decentralized application.
How To Regulate Crypto-assets: Is There A Unique European Answer?
This panel reunited four actors of the regulator institution. Patrick Armstrong (ESMA), Jennifer D’hoir (GIDE 255), Peteris Zilgavis (EU Commission), and Gundars Ostrovskis (EU Commission).
As the EU is an important market for Token exchange, the goal of this session is to discuss the current EU initiative and the next steps.
Some crypto assets are now defined as financial instruments and thus fall under the traditional rules related to these instruments. This is in contract to other crypto assets not considered securities or financial assets.
In France, certification for crypto-assets is optional: a project can decide to apply to the AMF (Autorité des Marchés Financier – French regulator) to get a certification.
EU commission’s strategy is to organize a public consultation to work hand in hand with private sector and expert and benefit from their knowledge and expertise.
AdTech: How Blockchain Is Making Waves In Media And Entertainment
Four experts of the Blockchain-based media solution ecosystem were in this AdTech panel discussion: Adrian Garelik (Flixxo), Fabien Aufrechter (Havas Blockchain), Grégoire d’Avout (Dtube), Alan Milligan (White Rabbit).
Questioned on what is currently the biggest problem in the media business, all of them answered the centralization of the content on a few platforms owned by a small number of big actors (YouTube, Netflix…). Blockchain enables new platforms to propose content to users without ads. It operates without using discovering algorithm based on views or without limiting the availability of a content to certain areas/regions. Blockchain moreover make possible the creation of infrastructure supporting real-time payment, peer-to-peer rewarding platforms, or rewards on your votes.
These possibilities are mainly questioning the actual system and its way to use data for advertisement purpose. Additionally, this new potential model would offer users to be rewarded for the use of their data. For example, Facebook has planned to launch a “FaceCoin” based on this same principle.
New Blockchain-Based Business-Models In The Financing Industry
The financing portion of today’s event included: Anthony Attia (Euronext), Jean-Marc Stenger (Lyxor Asset Management), Mattieu Garnier (BNP Paribas), Pauline Adam-Kalfon (PwC). Moderator: Zahreddine Touag (Woorton).
The panel notes that Blockchain is not a subject which frightens the banking institutions. On the contrary, it arouses a strong interest. Banks and asset management organizations still cannot invest in unregulated cryptocurrencies. However, blockchain technology still brings many benefits.
Security is one of the main topics of the day since. It is the basis of all fiduciary institutions and Blockchain offers alternative solutions at lower costs.
Globally, Blockchain allows to diversify the activity of banks and can streamline the governance of shareholders who today face the rigidity of the private equity market.
Anthony Attia says “since the dematerialization of the physical assets, technology is part of our DNA” to explain that banks and financial institutions are evolving and adapting to new technologies such as Blockchain.
How Can Corporations Leverage Blockchain On Their Innovation Journey?
Maja Vujinovic, OGroup, explained that blockchain is not a technology but a forcing mechanism to change processing. In this portion of the conference, speakers freely discuss their views on corporations using blockchain for innovation.
Thus, companies should be creative and bold in the use case they consider blockchain systems. Furthermore, corporation should try to identify the real and existing problems. Lastly, they should consider the use of traditional IT technology before launching a blockchain project.
Overall, this has been an informative and unique start to the main event of Paris Blockchain Week.