The second day of the Romania Blockchain Summit included two types of sessions – those dedicated to the future of the blockchain industry and those dedicated to presenting potential projects. Many teams have taken the opportunity to present various ideas on how the blockchain industry can revolutionize areas such as real estate, health insurance, public services and investment in general.
STOs – a phenomenon in development
Among the most interesting discussions were those about STOs and ICOs, two phenomena that have the potential to revolutionize the traditional financial industry.
For example, Dejan Davidovic of Kriptomat (Slovenia) argued that the market is not yet ready for the STO wave. His company planned to launch such a project, but decided at the last minute to postpone it. In his view, cripto-investors consider that STOs are tedious because they do not provide enough “adrenaline” compared to the volatility of cryptomonas. At the same time, institutional investors are still extremely cautious because of unclear legislation and lack of regulation for STOs.
Douglas Anderson, Wall Street Capital Partners CEO, also said Wall Street investors are still suspicious when it comes to blockchain projects. Bitcoin’s past negative reputation, combined with the volatility of cryptomonas in general, is still a shadow that reflects on the entire industry.
Greg Limon, co-founder of DigiMax Global Blockchain, a platform dedicated to STOs, highlighted that governments have decided in many countries to extend securities legislation to STOs. This helps to increase investor confidence in such products as it ensures that projects comply with the traditional rules of the financial industry.
On the other hand, Michael Loubser, co-founder and CEO of CoreGroup, is of the opinion that the lack of education as to blockchain fundamentals among investors is an important impediment. Also, retail investors suffered from a lack of education, which contributed to the collapse of the ICO industry. The large number of scam projects was largely facilitated by the fact that ordinary people did not know enough to get informed enough to make the right investment decisions.
On the other hand, Artem Trofymenko from CryptoCoin, stressed that the situation is changing in the ICO industry with the emergence of the IEO phenomenon. Launching a token on a known exchange will result in a better project verification, as the reputation of the platform is at stake.
In terms of fundraising for ICOs and STOs at a time when investors no longer have as much confidence as in the 2017-2018 crypto projects, Tiberiu Focica talked about Daicore, a founding company in Switzerland, which through a series of smart contracts offers investors the opportunity to withdraw their money from projects that do not achieve their goals.
Blockchain, a revolutionary technology in many areas
Among the presentations that raised interest among the participants were the one made by BitPanda’s Benedikt Angerer. This is an Austrian crypto-echange platform that has also built the gold token. Benedict claimed that investments in the future should be as simple as ordering a pizza. Blockchain technology facilitates the tokenization of any type of asset, from stock exchange to precious metals, real estate and works of art. These tokens can in turn be converted and used for any type of shopping in the near future.
BitPanda also plans an IEO of the BEST token, and the funds obtained will be used for further development of the platform.
Other presentations have approached the use of blockchain in real estate, healthcare / health insurance and public services.
Overall, the event at the Parliament Palace gave the public the opportunity to find out the latest news from the blockchain industry and find out what are the main challenges they are facing. Members of the crypto community in Romania also had the opportunity to interact directly with representatives from many other countries. There have been many opportunities for collaboration, which confirms that blockchain technology has no borders.
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