Blockchain technology is usually associated with bitcoin but this connection, while correct, is incomplete. Even though the technology was invented as a support tool for the cryptocurrency, it has since served a lot more purposes, fueling the development of the economy and starting a new era for the fintech industry.
Blockchain was invented by Satoshi Nakamoto in 2008 to serve as the public transaction ledger of the cryptocurrency Bitcoin. The invention of the blockchain for Bitcoin made it the first digital currency to solve the double-spending problem without the need of a trusted authority or a central server. The bitcoin design has inspired other applications, and blockchain public keys are widely used by cryptocurrencies. Blockchain private keys have also been proposed for business use.
The modern economy relies more and more on blockchain technology. According to McKinsey’s estimation, over 20 billion dollars have been invested in blockchain-related projects this year. Poland follows this trend, too; the Financial Supervision Authority (KNF) schedules regular meetings with industry representatives.3
“We’re talking about challenges that the industry will have to deal with, about the perception of functioning regulations, about barriers and how we can overcome or minimize them,” says Marek Chrzanowski, KNF’s chairman and one of the speakers at Impact fintech’18, which will take place in Łódź in November. “We’d like to establish a common point of view. We’re not the enemies of blockchain technology and we don’t want to constrain its development.”
The blockchain revolution won’t bypass stock markets, either. According to Celent and Nasdaq analysis, 70% of the world’s stock markets are planning to introduce blockchain-based solutions. The Warsaw Stock Exchange (GPW) is no exception, as Marek Dietl, its president and also a speaker at Impact fintech’18, states.
Nicolas Cary, the creator of Blockchain.com project and another star of Impact fintech’18, thinks that blockchain technology is as innovative as Gutenberg’s movable type printing. Are we to experience a revolution comparable to the 15th-century Printing Revolution? Only time will tell.
This, and many other topics, such as fintech, AI or Big Data will be discussed during Impact fintech’18 on November 28th and 29th in Łódź. With special guests — Jadwiga Emilewicz, Teresa Czerwińska, Marek Chrzanowski or Maciej Chorowski — and over 150 speakers on three stages, 2000 attendees and dozens lectures and workshops, this event is not something to be missed! Register now!