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What's The Big Deal About Blockchain?

Experts and industry insiders call it "the next generation of the Internet", a game-changing technology that many predict will have a far-reaching impact across not just businesses and industries, but also across societies and world economies as well.

"The beauty and innovativeness of blockchain for many is its unchangeable nature," explains Hayk Hakobyan. A business expert, advisor and speaker, Hayk Hakobyan advises in AI and blockchain and worked with SMEs and MNCs across Europe, Africa, and Asia.

Think of the blockchain as a public ledger, but with the added functionalities of cryptography and a decentralized peer-to-peer network approach. The result is a distributed and immutable record which, as Mr. Hakobyan points out, can now hold all sorts of data. More than just digital currencies, goods, services, and other assets can now be exchanged without the need for centralized authority or traditional institution that normally acts as intermediaries to these kinds of transactions.

This, according to him, is what makes blockchain such a huge deal right now: blockchain will be impacting a great number of industries.

"As blockchain addresses some of the weakest and most challenging points in many industries, such as lack of transparency, accountability, decentralization, and immutability, blockchain offers the promise of groundbreaking operational efficiencies, increased engagement of users/communities and scalable technology that appeals to many big and small companies."

Specifically?

-- Transparency: all logistics industries, FMCG and any other vertical involving long supply chains

-- Accountability: marketplaces where selling/buying requires authentication, attribution, evidence of provenance, etc.

-- Decentralization: in monopolistic or similar cases where peer-to-peer or decentralizaed approach will be more efficient

-- Immutability: in any industry where records need to be kept and consulted and cannot be changed

With all these new innovations, blockchain will clearly have a transformative impact on business processes, even allowing for small businesses to play in the same league as their big-company counterparts. "(The) promise of accountability, transparency and immutability has already started attracting industries as diverse as chemical logistics, financial lending and freelance networks, just to name a few," Hakobyan adds.  

"Every single industry is experiencing a disruption by startups and challenging companies, who have superior technology, innovative business model or strong community of users and ambassadors," he adds. "Incumbents or industry leaders who choose to ignore might find themselves on the wrong side of technological development and thus history."

Currently, Hayk Hakobyan is in charge of Business Development in APAC at Nexmo, Expert-in-Residence at SOSV, the biggest VC accelerator in the world. He is also APAC partner at Prysm Group, one of the top blockchain governance and marketing agencies in North America and Europe.

Hayk Hakobyan is one of our subject matter experts invited to share their case study experiences from a wide range of industries at the Blockchain Asia Forum 2018, happening this May 28-30, at the SMX Convention Center, SM Aura, Bonifacio Global City, Taguig.

The Blockchain Asia Forum 2018 is a production of AllEvents Group and CSJ Events, sponsored by our good friends over at GCOX Global Crypto Offering Exchange, together with FiiiCoin, COINEXIS, Acudeen, Coins.ph, and The NEM.io Foundation, along with official Knowledge Partners are Unionbank and GeiserMaclang, our Association Partners Fintech Philippines Association and Singapore Fintech Association, Marketing Partner Leentech Network Solutions, Community Partners Right Here Consulting, BlocKrypto, Drupal Pilipinas, and Coding Girls Manila, along with our Media Partners ANC, WheninManila.com, Business Mirror, Fintech Finance, Bitcoin Gold, Bitpinas Philippines, Blockchain Industry Group (BIG), ICOholder, iU eMagazine, Oxford Business Group, Crypto News India, ICO Buffer, CoinMarketPlus.com, Jinniu.cn, and PIPPA.  

For ticket sales and group rates, contact the Manila Secretariat at (+63 2) 415.8375 or (+63 906) 563.0538m or visit the official website at www.blockchainasiaforum.com.

 

Topics: blockchain
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