🗺 🌍💰EUROPEAN BLOCKCHAIN CONVENTION 2021!!! DAY 4_HIGHLIGHTS🌟⚡️ 🌎💎💶

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Topic 1: Aave Protocol: DeFi & FinTech Worlds Collide

Avve is a blockchain protocol that provides access to DeFi (Decentralized Finance) and liquidity to the financial system. It has a great and large community. The basic concept of Aave is: a pool where the users can deposit assets, people can borrow from other users by means of smart contracts.

Below a picture summarizing the concept of Aave protocol:

Aave is deployed in the Ethereum Ecosystem. The following picture shows the Aave and DeFi opportunities for institutions to participate in DeFi.

More information can be found in: Aave – Open Source DeFi Protocol

Topic 2: BlockStart: How an EU-funded Accelerator is Boosting Blockchain adoption in SMEs

SME (Small and Medium Enterprises).

BlockStart is a is a pan-European DLT / blockchain partnership program run by a team of 3 partners: Bright Pixel, CIVITTA and F6S. The aim of the program is to put together SMEs and blockchain developers to find solutions for the current businesses. Below a picture with a selection of the most promising start-ups in Europe:

How does it work

Until now BlockStart has achieved: 205 startup applications, 114 SME applications, 42 countries, 40 startups supported, 34 pilots implemented and 91% satisfaction rate.

In the agricultural sector, BlockStart has improved the product and market penetration.

The protagonists:

Some of the use cases:

• Humanitarian Aid
• Logistics
• T & T (Track & Trust)
• Satellite Communications for Humanitarian Aid
• Less Paper Work (Insurance Sector)

For more information: BlockStart
BlockStart Open Call 3 for blockchain startups:

Topic 3: Corda Developer Certification

Corda is a permission blockchain protocol:

It is possible to download and see more details: Corda. Corda also offers an online exam which costs around USD 150 and it is possible to access through the link: Corda Exam

Topic 4: Complex blockchain infrastructures, scalability and interoperability

With complex blockchain infrastructure the aim is:

• Scalability
• Interoperability
• Standards
• Complex Infrastructure and Algorithms
• Large number of users
• Architecture

Topic 5: Why 86% of enterprise blockchain implementations fail?

As there is not yet full confident to the technology as the technology is not yet matured, the majority of the blockchain projects do not make it beyond proof-of-concept (PoC).

Below a picture shows the real challenge of blockchain implementations and the blockchain project phases:

There are several reasons why enterprise blockchain fail:

How to speed-up the production phase of your blockchain project?

More challenges and applications:

• Food Integration and Sustainability
• Sustainable Energy Grid Management
• Banking Sector (security of applications, data transfer, etc)
• What to put ON CHAIN and what to LEAVE OFF CHAIN

More information is available in the minibook that you can download for free on this site here: https://content.settlemint.com/blockchain-in-capital-markets

Topic 6: Keynote

Tezos is an open source software project which powers a blockchain and a cryptocurrency called Tezos (XTZ). In Tezos it is possible to manage smart contracts, blockchain applications, etc.

Main aspects:

• Which is the version of software to be used? If people are running different and incompatible version of the software this may create problems. Tezos solves this by explicit consensus software mechanism
• Tezos is a Proof-of-Stake. Tezos doesn't rely on spending a lot of energy to secure the chain but asking the token holders to participate in the security of the chain and the system.
• Smart Contracts- high level language for the verification of the smart contracts

Tezos is a blockchain and a software but it has a wide Ecosystem of applications.

Use cases:

• Tokenization of real state assets
• Tokenization of Evergreen Funds
• NFTs (Non-Fungible Tokens) space for art, selling digital art online

NFTs can be used to track something or it can also be seen as an autograph. InterPop is building NFTs for funs or games InterPop

Tezos is also very applicable to Public Chain. Organization can have not only an Intranet
but a chain in which they can connect to the rest of the world.

Tezos Foundation issue Grants to boost Tezos Ecosystem! Tezos Foundation_Swiss-based-[Tezos Foundation(https://tezos.foundation/)

More information in the following link: Tezos

Topic 7: Governance of Large Scale Blockchain-based Solutions

DATA GOVERNANCE is a key topic in blockchain technology:

• who controls the data?
• even with permission-less governance is important
• technology is available, governance is missing
• open source or closed source project?
• Blockchain governance and Business Governance
• Private or Public resolution?
• how to collaborate with unknown people or organizations?
• ON CHAIN GOVERNANCE (Aave, Uniswap, )
• Governance is a big topic as it cannot be left to the ones with more Tokens or Power only
• Intellectual Property (IP)

Interesting links: The UCLA course on Blockchain Governance and Collaboration

Dispute and REsolution for Blockchain 2020

Topic 8: NFTs, DAOs and the New Creator Economy

NFTs (Non-Fungible Tokens)
DAOs (Decentralized Autonomous Organizations): is an organization represented by rules encoded as a computer program that is transparent, controlled by the organization members and not influenced by a central government. Source: Wikipedia https://en.m.wikipedia.org

What this 4th Revolution mean for the economy and the dynamics of the world. Below a summary of the opinions of the panelists:

• Games, games where you have tokens and you will be able to trade them
• exchange value of users
• NFTs at the beginning, at the Proof-of-Concept stage
• buy art or something you like and keep it until you can sell it in future
• NFTs are infrastructure to allow digital ownership and exchange digital ownership
• cross border transactions
• anonymous could be flowing but they could find regulations in the future
• digital avatars for digital fashion

THE BIG CHANGE IN PARADIGM OF WEB 3.0 - IT WILL BE POSSIBLE NOT ONLY TO DOWNLOAD AND EXCHANGE DATA BUT THERE WILL BE THE POSSIBILITY TO TRANSFER AND EXCHANGE OWNERSHIP!

Topic 9: The Benefits of Coopetition in Blockchain Consortia

Below a summary of the panelists conclusions and opinions:

• we are in a permission environment and we will go to a permission-less environment with governance
• companies should put less focus on service reliability and cost reduction and more on future people needs
• digitalizing and educate people about the new technology
• Set STANDARDS and set clarity and transparency on how to collaborate between stakeholders
• get scalability and achieve coopetition (Cooperation+Competition)_reduce friction across borders, airports, etc. We need all actors to jump in this new ecosystem
• improve supply chain and logistics
• BLOCKCHAIN PROMISES OBJECTIVE TRUST , trust will not rely anymore on what someone was saying or not BUT WILL RELY ON DATA

ANOTHER BIG CHANGE IN PARADIGM, FROM SUBJECTIVE TRUST (I trust my doctor, the person in a shop, ) TO OBJECTIVE TRUST (I trust DATA)

Topic 10: Trust as the Key Concept in Future Mobility using Decentralized Technologies

The Internet and Internet of the Things (IoT) were built without a trust layer. Decentralized Digital Identities as basis for Connected Mobility, may be one of the needed missing components to implement real data sovereignty and trusted Economy of Things in future connected Vehicle Scenarios.

Some of the applications of Bosch Group:

THE TRANSITION FROM INTERNET OF THE THINGS TO THE ECONOMY OF THE THINGS!! WEB 3.0 IS THE INTERNET OF VALUE EXCHANGE-DECENTRALIZED WORLD

An example of a Strategic DLT (Distributed Ledger Technology) @ Bosch: Economy of the Things

THE WEAK POINT OF OUR CURRENT INTERNET WEB 2.0- IT WAS BUILT WITHOUT AN IDENTITY LAYER

Each user holds a high number of passwords and user names to deal inside the Internet Web 2.0. This problem can be solved with the concept of SELF SOVEREIGN IDENTITY (SSI). WITH THIS MODEL, THE INDIVIDUAL WILL BE PUT IN THE CENTER. THE USER WILL DECIDE TO WHOM (COMPANIES, PERSONS, ETC) CAN SHARE OR TRUST HIS DATA.

Trusting the Self-Sovereign Identity will bring opportunities:

MAYBE YOU DONT NEED TO OPERATE INTERNATIONALLY, BUT YOU NEED DATA FROM MANY USERS AROUND THE WORLD.

Topic 11: Blockchain in Mobility-as-a-Service

What this means:

• you can connect but you don't necessarily need to connect, you will be able to use data for example from a Public Chain without connecting
• to create a value for the user
• sometimes is complicated to work in public chains
• make governments to participate by using the current centralized system and adding decentralization to make a system more agile for users
• huge public system, data and trust!
• AI (Artificial Inteligence)
• OPEN DATA_OPEN SOURCE_OPEN DPIs
• creating a product for a customer as a routing
• to be able to control our data and give access to whom we want only
• POWER TO PEOPLE
• need of trust in a public space, need to trust on public data-where the personal data ends and where starts the public data_where is the boundary?

Topic 12: Where have you been? Blockchain for tracking goods in trade

As we have seen in the previous topics, blockchain has multiple potential applications. From products, services to luxury articles:

• Blockchain was a tabu for banks and governments, but they are slowly ready to talk about
• Carrefour: decided to have a private blockchain and shared with the consumers with an IPA (Application Programming Interface)_37 products on Blockchain
• Need for STANDARDS_ we have the idea that standards kill innovation but we definitely need standards
• Go with luxury into the games_use of NFTs as collectible _a virtual version of the product going to a video game
• Luxury watches in Fortnite? yes, when?
• Tracking and traceability of products-from farmer to end consumer

Topic 13: Accelerating Technology Disruption in the Automotive Market

In this session the representatives of different car manufacturers were explaining how they are applying blockchain in their business:

• Open Mobility Network(would it be possible to connect directly with a car you want to rent?)
• Regulations, compliance and conformity.For example by incorporating miners in the blockchain ecosystem to comply with sustainability. Use blockchain as an ID of clearance and complianced business.
• with blockchain is recommendable to start small and become big
• Bring value not only to the customer but also to the industry
• more sustainability and traceability of products (or minerals used for automotive manufacturing)
• Regulations_conformity and compliance_digital transformation of the ecosystem and assures the continuity of the digitalized ecosystem

Hope you find this an interesting reading. Day 5 of the Convention is coming soon!!

Images: https://www.bing.com/images
Source: European Blockchain Convention 2021

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