The first of an annual series of events dedicated to the socioeconomic impact of blockchain technology was held last month. Here are the details.
The first edition of the World Cryptonomic Forum in Vaduz kicked off on January 26, 2019, at the CAFÉ im Kunstmuseum with an opening presentation by the founder of æternity blockchain Yanislav Malahov.
We established the World Cryptonomic Forum in order to create a place where people can come together on an annual basis to discuss the future social-economic impact of blockchain technology on global society.
Malahov emphasized that we live in a time of change. He pointed out that it has finally become possible to exchange digital value across the internet trustlessly, efficiently and without censorship.
One thing is certain: Blockchains are here to stay and are now an integral part of the web.
Marion Vogel, President of the Board of æternity Crypto Foundation, followed up with a presentation supporting Malahov’s remarks:
We believe that blockchain technology can and will have a transformational impact on society. The æternity Foundation will be a catalyst of this process by supporting community growth, blockchain-focused education, and research and development.
The presentation series ended with Demelza Hays, a doctoral student at the University of Liechtenstein. Hays explained why Liechtenstein is an attractive place for the crypto industry right now:
Liechtenstein is designed for blockchain technology. The technology and Liechtenstein, both, have the right to self-determination. This is a principle that’s been written into the [Liechtenstein] constitution in 2003.
The first session of the World Cryptonomic Forum continued with a panel entitled “How will the world change in 10 years?”. Here are some takeaways from the session:
Thomas Nägele, Attorney at Law, Nägele Rechtsanwälte
These technologies will make a whole spectrum of processes much more efficient. It will, [for instance] be possible, for a local bakery to fundraise enough money for a new oven and [in return] the buyers will actually receive a fraction of the company. This will have a significant social impact in many areas!
Yonathan Parienti, Founder, Horyou
We are [still] very far from adoption in the real economic and capitalistic system now. Coming from finance, we can say that, we’ve been able to invest billions of dollars in crypto and blockchain projects. While at the same time, in many developing and emerging economies, you will see amazing people with great ideas, but they have no access to essential funding.
Alessandro De Carli, Founder, Papers.ch
We need to solve three main problems before reaching mass adoption. First, user experience and education. People have to get it and feel at ease while using cryptocurrencies. Second, scalability. I’m so excited about the æternity blockchain! This can be one of the solutions [I am convinced], to this problem. Third, volatility. If you have assets that change in value very quickly, nobody will use them as a means of exchange. People just want to get paid for their service and don’t want to worry about volatility.
Alessandra Sollberger, Entrepreneur and Investor
Just like Amazon Web Services and low cost internet access, we have created the founding infrastructure for new tech business models. Now we are establishing new foundations — those of cryptographic protocols and new technologically-enabled governance models. I think this is extremely exciting! Hopefully we can get much more into it, since these technologies will trickle down into society and politics.
The World Cryptonomic Forum in Vaduz attracted a lot of attention in both Switzerland and Liechtenstein. We expect that next year the event will attract even more attention. At the networking reception event at the Kunstmuseum, the organizer of the event, Mattia Martinez was full of gratitude for the success of the event:
I want to thank you everyone for coming and your overwhelmingly positive feedback! We look forward to seeing you here again next year!
Access the in-depth coverage of the event below:
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