If 2015 was the year blockchain’s huge potential hit home, 2018 was the year regulators took it seriously, expert Stefano Rossi said at Thursday’s Delano Breakfast Talk.
Photo: Jan Hanrion/Maison Moderne
The head of innovation at BTO Research outlined how regulators, like those in Luxembourg, are now creating the conditions for blockchain technologies using digital tokens and notarisation (timestamping) to flourish.
He explained that companies are adopting different strategies in relation to the emerging technology—some opting for single investments, others for in-house development or even partnerships via consortiums or eco-systems. “We are going through a phase where companies are ready for this,” Rossi told a packed room of participants.
He cited a number of private blockchain applications where distributed ledgers technology managed by trusted intermediaries is benefiting the financial sector. He said that scores of new startups are emerging, making it easier to create crypto portfolios for any investors. “For the first time, people are able to invest in something that was difficult to understand. We will see more and more startups and companies giving this sort of service,” Rossi said. Elsewhere, banks are using blockchain to provide service which combine regulated bank account services and bitcoin in a single account.