Finance Malta recently hosted the third in a series of ‘My Blockchain’ seminars which was targeted at individuals and companies seeking to explore how they can introduce Blockchain in their business operations.
In his introduction ‘How can I apply Blockchain to my business?’ the founder and president of the Blockchain Malta Association, Steve Tendon, explained that Blockchain offers endless possibilities to different businesses and delved into possible applications of Blockchain within the operations of a business where a case study was presented insofar as the Identity of Things (IoT).
Mr Tendon’s introduction was followed by another case study presented by Christoph Mussenbrock, CEO and founder of Etherisc, on implementing smart contracts in the insurance sector.
The second part of the seminar focused on cryptocurrencies. In their presentations, IT alchemist and consultant Dan Verowski together with Bitcoin Club Malta member Leon Siegmund demonstrated the different cryptocurrencies available, their values and the different platforms where these currencies can be purchased and managed.
The seminar was brought to an end with a closing address by Finance Malta chairman Kenneth Farrugia who explained that, judging by the way that internet has radically impacted our personal life and workplace, it is evident that the application of Blockchain will equally radically and rapidly change the way we live and operate our businesses.
Big risks in ICO market
A lack of fundamental valuation and the due diligence process by potential investors is leading to extreme volatility of the initial coin offering (ICO) market, according to new research published by EY. The research also found that in some cases ICO investors are contributing capital at an average rate of over $300,000 per second.
The EY research, which studied 372 ICOs around the world, also found that the offerings raised $3.7 billion in funds, twice the volume of VC investments in Blockchain projects. Furthermore, the US is leading the race with the highest volume of ICOs originating from the country (over $1 billion). Russia and China follow, with each over $300 million.