Blockchain technology is set to revolutionize the concept of trust in today’s digital world, but most people are unaware of blockchain’s true capabilities. Rather, they are focused on the speculative aspect of blockchains’ tokens.
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To help clear up some of the misconceptions, IE University School of Science and Technology, BSV Association (BSVA), and Gate2Chain organized “Rediscovering Blockchain” on January 21. This educational event was designed to uncover blockchain’s true potential while providing examples of real-world use cases.
“We are here in Madrid to talk to the IE, which is the Instituto de Empresas, one of the leading business schools in Spain and who has a fantastic network of alumni which range from companies which are listed on the Spanish stock market to the sitting government and other types of academics,” shared event speaker Martin Coxall, Director of Growth at BSVA.
“Our purpose is to bring the connection between the industry, the ventures and the academia in all domains of technology, and blockchain is one of them and actually data integrity…for us, it’s crucial to bring that innovation from the industry inside the classroom. So that was the purpose of bringing this event today,” added Geoffroy Gerard, Managing Director of the IE Foundation.
Gate2Chain, a software company that leverages distributed ledger technologies (in particular, the BSV blockchain) to enhance efficiencies and reduce fraud, organized the speakers and agenda on the day.
“We are presenting different use cases with real customers that are paying to use that technology, not to speculate with. So is great news for us and it’s great news for the economy and in general for the ecosystem,” shared Bart Olivares, CEO of Gate2Chain.
One of the day’s presenters, Claudia Ojeda, Director at StorynValue.com, discussed blockchain-powered Digital Product Passports (DPPs) and how they allow brands to build trust with their customers through transparency.
“I think it’s very important to showcase the brands that are pioneering the industry that are using this technology because sometimes brands and people are kind of disconnected to the technology, so we have to use real use cases to show them how important it is,” Ojeda said.
While on stage, Ojeda invited fashion designer Sheila Escot, Founder of Qosmic Brand, to join her. Qosmic utilizes DPPs through the StorynValue platform and enjoys the power and importance of DPPs for the consumer.
“Qosmic is a very special brand because they produce accessories in grape leather, so we need to communicate these to the consumer. The consumer needs to see how the production process is for these kind of different brands,” Ojeda added.
Another presenter from the day was Thomas Giacomo, Head of Payment for Teranode Group, a newly formed payment, entertainment, digital signature, and identity solutions provider powered by the BSV blockchain.
“We are here at the IE mainly to provide educational content to try to provide transparency and visibility about what are the main benefits of the technology, and on the payment side, the blockchain technology can basically add some benefits in terms of cost, speed, and efficiency,” he said.
“We only want to be the plumbing of the international payment system, allowing central banks to issue their form of digital currency called CBDC for central bank digital currency,” he added.
Giacomo also spoke on stablecoins, explaining that they will be at the forefront of innovation because they are driven by commercial and private companies, compared to central banks, which are forced to move at a slower pace.
In addition to providing examples of real-world use cases, event speakers dove into common misconceptions about blockchain tech and clarified what is hype and what we should focus on for the long term.
“There is an absolute disconnect between prices in the exchange markets and the underlying value of the token,” explained event speaker Eva Porras, Director of Education at the BSVA.
“These underlying values are the fundamental values described by the protocol. So anybody who wants to know the worth of a given protocol should read it and should be able to understand what is the utilization of this protocol in the business context that interests them, and that is the value of the token,” she said.
Speaker Andrew Whitworth, Founder of Global Policy Ltd, emphasized the importance of working within the regulations around blockchain, despite how tedious the subject may seem.
“Essentially, policy is, in my mind, the foundation of all the technology and business in the blockchain space because basically, when it comes to finance, the regulation creates the space for the products to exist,” Whitworth explained.
“Not all blockchains are used for financial purposes, but they were the original use cases, and we’ve seen that most countries in the world have started regulating blockchain via financial regulation,” he said.
“And so it’s critical to understand how financial regulation works, where the barriers are around it, all the regulatory premises around it that allow all different types of use case for blockchain technology to develop and grow,” Whitworth added.
In between the presentations, several exciting announcements were made throughout the day, the first being Gate2Chain’s appointment as the blockchain partner for the SmarTZ4Milk project, a smart, traceable, sustainable, and connected dairy value chain across Europe. The second is a Memorandum of Understanding (MOU) between Gate2Chain and IE University School of Science and Technology, signifying a relationship between the two entities to provide students with blockchain events, research, and student experience programs.
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Alongside the announcements, clarifications, and use cases, the ongoing theme throughout the day was the need for a massively scalable blockchain to achieve all of these visions. With its Teranode upgrade coming online this year, the BSV blockchain protocol is the only network designed to handle global transactions at scale and guarantee trust in our evolving digital world.
Watch: Reviving the true value of blockchain—utility
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Source: https://coingeek.com/rediscovering-blockchain-building-trust-at-scale-video/