Welcome to an exciting new digital event
“Blockchains are not only for cryptocurrencies”. This is a many times heard mantra that every experienced practitioner will subscribe to. This is not to say that cryptocurrencies must be outcast from the blockchain community, but only to reiterate that the world of blockchain protocols—especially the enterprise world—demands solutions that surpass the pure exchange of currency values running on cryptographic algorithms.
Disaffection and suspicion against cryptocurrencies has exacerbated with the demise of the numerous initial coin offerings (ICOs) that sprouted in an almost uncontrolled manner in the past few years. The vast majority revealed to be pure scams, or—in the most benevolent way—unconsidered risky adventures with no real business substance nor background. Each ICO launched a blockchain-based project and created a cryptocurrency that investors would
have used to monetize the results of the projects’ so much touted propositions and promises. Most of these projects miserably failed, leaving unscrupulous ICO founders with the rich spoils and the careless investors with bad taste and empty (digital) pockets.
These facts must not- however- tarnish the extraordinary capabilities of decentralized distributed ledger technologies to exchange digital assets representing title of ownership. Once the speculative nature of digital assets exchanges (i.e., currencies) is removed and it’s replaced with the sound proposition to streamline operations, reduce costs, and ensure collaborative transactions between peers, then blockchain raises as the technology infrastructure that enables the creation of a physical asset’s “digital twin” and the exchange of this across a networks of peer nodes.