Post release

ICO for startups and EU’s vision of crypto market: results of Blockchain & Bitcoin Conference Prague

On May 17, Smile-Expo pleased Czech crypto community with the fourth annual specialized conference. Blockchain & Bitcoin Conference Prague gathered crypto experts, legal specialists and world-known developers. Participants of the event shared their experience in blockchain introduction into business processes and e-gov as well as discussed the future of the technology.

 

Among the conference speakers, there were managers at renowned IT organizations and members of the European Parliament who provided their vision of cutting-edge technologies and crypto industry.

 

What issues did Blockchain & Bitcoin Conference Prague feature?

                                        

Three steps to implement blockchain into business 

 

René Bostic, Technical Vice President of Innovation and New Technologies at IBM Cloud analyzed major blockchain trends. According to the expert, successful inclusion of distributed ledger in business processes is possible if three important conditions are fulfilled: safety, data privacy and compliance with high standards of data storage.

 

Attitude of European Union towards blockchain

 

Dimitrios Psarrakis, Capital Markets & FinTech Regulation Policy Advisor at European Parliament, shared EU’s stance on cryptocurrencies. As he reported, the most important thing is blockchain standardization. Then, issues related to compliance and scalability of databases. Moreover, general data protection and cyber security regulation has to be elaborated. Dimitrios Psarrakis also pointed out the spheres of blockchain application in the future: power industry, logistics, medicine and art.

 

Problems of cryptocurrency legalization

 

Guenther Dobrauz-Saldapenna, Leader at PwC Legal Switzerland featured close attention of financial regulators to the crypto industry. As the specialist emphasized, financial institutions haven’t come up with a unified classification of tokens and ICOs. However, Head at PwC Legal Switzerland thinks that the future of blockchain directly depends on the legal regulation of crypto industry.

 

Combination of AI and blockchain

 

Founder and Head at Iris.ai startup Anita Schjøll Brede informed how to combine blockchain and neural networks. She managed to implement this idea by developing an assistant for quick search of scientific literature. As the expert said, AI reduces network power consumption as well as boosts performance of a central processor and RAM to support blockchain.

 

 

 

ICO as a way of resolving problems with project financing

 

Marketing Director and Co-Founder at Iconiq Lab Arabdha Sudhir made a presentation dedicated to common methods of project financing and tokenization of products and services. The speaker also told how to leverage ICO as venture investment for financing of startups at early stages of development.

 

Exhibition area

 

Keeping up with the traditions, Smile-Expo presented an exhibition area with high-end products in the sphere of decentralized databases. For example, KompiTech demonstrated blockchain solutions for logistics, Cleverance showcased software for telecommunications. Moreover, BubbleTone carried out testing of an application for making international calls with no intermediaries while Inno3D displayed mining hardware.

 

It is the fourth time Prague-based blockchain community demonstrated its interest in crypto industry development and showed warm welcome to participants and speakers of Blockchain & Bitcoin Conference Prague.

 

Thanks for joining us! See you again in Prague!