BLOCKCHAIN TRENDS 2018: DECENTRALIZATION REACHES THE REAL WORLD


In the history of blockchain, the year that ends will be remembered as the one in which this technology initiated us in tokeneconomy, the programmable economy of the developed phase of financial capitalism. And perhaps also as the year that showed us the door of a new economic and financial revolution. 
The creation of communities around the markets of tokens or cryptoactives and the launching of ICOs (Initial Currency Offer) to finance new business projects marked the blockchain evolution throughout 2017. It is estimated that, at the end of 2017, the total funds raised by the ICOs will exceed five billion dollars. This year that has ended has been the emergence of the blockchain companies, many of which have arisen or relaunched in the heat of the easy money of the ICOs. Almost all of these companies have developed applications or services aimed at breaking into the value chain of business models of highly consolidated industries, such as banking, agriculture, health, insurance or energy. However, none of these applications has yet been able to domesticate blockchain technology and bring it closer to the everyday environment.
CriptoNoticias has gathered the opinion of several CEOs of companies that work with blockchain and that of some responsible for this technology in important banks and companies to know the innovations that this technology will bring us in 2018. The answer, although with nuances, is unanimous: 2018 It will bring us the blockchain application marketing in the real world.

BLOCKCHAIN

Brian Behlendorf Bitcoin Cryptocurrencies
Brian Behlendorf
Brian Behlendorf , executive director of Hyperledger , the open source collaborative consortium aimed at promoting the use of blockchain in different economic and business sectors, told CriptoNoticias that during the next year we will see "the commercialization of applications in the real world. We even expect a second project, Hyperledger Sawtooth, to reach 1.0 by early 2018. Although the blockchain technology is still in its infancy, we made great strides in Hyperledger when Hyperledger Fabric 1.0 was announced in July. That was a great signal to the market that consumers and technology providers based on Hyperledger Fabric are ready to move on to the next stage: implementation and production operations. "
Behlendorf indicated that blockchain will have a great positive impact for the technology industry and society in general and that the function of Hyperledger is to enable whatever happens, building an excellent, reliable and transparent base. "We are the plumbers and, if we succeed, everyone will get more interesting, profitable and powerful applications," he explained.
As for which blockchain applications could emerge during 2018, Behlendorf affirmed that "any commercial network that requires transactions and that can not depend on a central proxy in which all have to trust, and for which those ledgers (accounting) have to be Immutable, it can be remade through blockchain technology. Industries as diverse as agriculture, finance, health, real estate, electricity or diamonds will see blockchain applications breaking into their value chain. For example, Walmart is testing blockchain for supply chain managementThey are taking advantage of distributed accounting technology to track pork in China and produce in the US. UU., Two categories of large volume products with large markets. The platform that Walmart will use is based on Hyperledger Fabric. "
Olga Blanco , responsible for blockchain at IBM Spain, agrees with Behlendorf and affirms that 2018 will be when this technology reaches more end users. "Blockchain has been inescapable this year and we are beginning to see its impact on companies, public administrations and on consumers or citizens themselves. IBM has been a leader in identifying how we can take advantage of this new technology for more transparent transactions, from the traceability of a product to food security, but that's just the tip of the iceberg. Blockchain can transform radically, not only the financial world, but also a multitude of sectors, such as energy companies, telecommunications, tourism, retailers, public administration (identification, registers, certifications), logistics, transport and media, to name a few. .
Olga Blanco IBM Spain Blockchain
Olga Blanco
In the opinion of Carlos Kuchkovsky , CTO of New Digital Businesses in BBVA , during the next year "we will see how various platforms try to position themselves in the ecosystem trying to solve problems of scalability of current decentralized networks, competing for the growing community of developers and investors, with networks current as Ethereum or Bitcoin . "
In similar terms is expressed Alexandre Tabbakh , CEO of PUBLIQ , a platform focused on the redefinition of the media, and an expert in fintech and blockchain after his professional experience in Société Générale and JP Morgan in Paris, Luxembourg and Hong Kong. After stating that "the acceleration of the democratization and institutionalization of bitcoin and other cryptocurrencies at the end of 2017 suggests that 2018 will undoubtedly become a key year for blockchain, Tabbakh points out that during the coming year a serious Ethereum competitor could appear.in the applications sector. Will it be EOS, Dash or another? We still do not know, only the upcoming deliveries of those teams will give us a better idea about the future landscape of the dApp platforms (decentralized applications). "
The behavior of blockchain technology during 2018, onathan Rouach, CEO of QED-it, a company based in Tel Aviv dedicated to providing services based on the principle of zero knowledge tests to companies and financial institutions, told CriptoNoticias that "the focus and perception of this technology is changing. Until now, when someone mentioned the word blockchain, people in general, journalists and investors thought of Bitcoin and cryptocurrencies, especially with the price explosion of Bitcoin. I believe that 2018 will be the year in which companies adapt blockchain technology, since companies from different sectors have created innovation laboratories. The potential of blockchain applications to companies and corporations is more important than the cryptocurrency phenomenon. "

FINANCE

Carlos Kuchkovsky BBVA Blockchain
Carlos Kuchkovsky
Being the blockchain technology that supports Bitcoin, the finance sector has been checking the disruptive force of this technology since January 2009, which was when the Bitcoin P2P network came into operation and the first bitcoins were created. Although many doubted or did not want to attend to the revolutionary capacity of blockchain, we could say that currently all the actors of the financial sector share that the great innovations in banking during the coming years will come hand in hand with this technology.
On the novelties that blockchain will bring to the financial sector in 2018, Julio Faura , head of Research and Development of Santanderand president of the Enterprise Ethereum Alliance and the Alastria Network , told CriptoNoticias that "although technology has yet to improve in terms of Scalability, usability, privacy and resilience, it is expected that in 2018 we will see the first applications in production with a certain scale, at least in payment systems, digital identity and, perhaps, even in some cases of capital markets ".
Faura pointed out that "it is foreseeable that during 2018 the blockchain technology will continue to improve in order to be increasingly usable in real production environments in corporate environments. If 2015 was a year of discovery of these technologies for many entities and 2016 was the year of proof of concept, 2017 has been a year in which many entities have worked on making the first real pilots, which, although limited in scale and scope, they have studied the real application of these technologies in real testing environments and even production. "
Alicia Pertusa, responsible for Transformation in Investment Banking of BBVA, explained to this newspaper that "2018 will be the turning point to move from pilots and proofs of concept to the development of solutions and productive applications on blockchain / DLT technology in the financial sector and in others. The new versions of the blockchain platforms such as Hyperledger, Corda or Ethereum, as well as others developed by fintechs or banks have corrected the errors detected during these years of experimentation and you can start working on productive solutions. At the same time, all stakeholders, banks, fintechs or regulators have been able to gain experience and work on the aspects adjacent to the technology, such as governance, operations, guarantees or operating rules,
Alexandre Tabbakh Publiq Criptoactive Media
Alexandre Tabbakh
In the field of payments and financial services, Marieke Flament , director of Circle for Europe, he indicated that 2018 will be the year in which we will see a clear expansion and normalization of blockchain-based services. "We ended 2017 at a time of expansion and adoption of this technology not only by fintech companies, but by many other actors, more traditional, such as banks or national and international institutions, who have been able to verify that the advantages and benefits announced around this technology they were not false promises or utopias, but something very real and valuable. 2018 will be the year in which the use of the blockchain for the realization of money transactions instantly, globally and without costs will become truly generalized and global. This will mean a gradual disappearance of cash, something that is already taking place in countries like Sweden. And a change in the role of banks and financial institutions to adapt to the new panorama. For the users, 2018 will be the year in which they start to see how their money will finally work like everything else they can do through the Internet: easily, between people, instantaneously, safely and one hundred percent free, without charges or small print. "
Jonathan Rouach QEDit Privacy Cryptocurrency
Jonathan Rouach
For the responsible of this technology in IBM Spain, "in 2018 the central banks will begin to adopt digital assets as a means to exchange value in blockchain safely and in real time. Blockchain-based payment systems that use digital currency with fiduciary support will allow central banks to interact more easily and partner with retail banks to process cross-border payments with immediate termination. "
On the role of central banks, Tabbakh adds that the possible issuance of future e-fiat cryptocurrencies using blockchain infrastructures by central banks should be closely observed. According to the CEO of PUBLIQ, currently the central banks of China, Russia or Singapore are testing blockchain nationwide. "The adoption of a blockchain framework by central banks and governments would validate the popularity of this technology and encourage broader adoption of cryptocurrencies in general," said Tabbakh.

ICOS, CRYPTOCURRENCIES AND TOKENS

Julio Faura Enterprise Ethereum Alliance Blockchain
Julio Faura
The year that ends will be remembered as the year in which the ICOs won the battle against venture capital funds and became a viable alternative financing for companies. Since June, the number of monthly ICOs has increased from 40 to 200 projects.
Valentin Preobrazhenskiy , founder of LAToken , a platform dedicated to tokenize and market real assets with cryptocurrencies, explained to this newspaper that in 2017 the average income of the ICO reached 15 million dollars, which means that blockchain startups can be financed as much with crowdfunding as through venture capital.
According to Preobrazhenskiy, by the end of 2017, the total funds of the ICOs will exceed 5 billion dollars , with a top 10 projects that reached between 100 and 250 million dollars in a single ICO. The CEO of LAToken also explained to this newspaper that "in 2018 the ICO will continue to be a very attractive option to raise money, so the number of sales of tokens will continue to grow. But as competition for investor attention intensifies, more ICO projects will struggle to raise funds. "
Preobrazhenskiy said that "the amount of money raised by successful projects will increase in line with the total growth of the cryptocurrency market and as soon as the attention of investors shifts from the fastest-growing Top-20 cryptocurrencies, ICOs will become in a hot topic. Finally, the increasing attention of regulators and the formation of self-regulatory bodies will help to clean up the market, creating favorable conditions for institutional investors to enter that market. "
Alicia Pertusa Blockchain Banking
Alicia Pertusa
Kuchkovsky  says that in 2018 "we will be able to see the results of the explosion of investment in ICOs during 2017. Most of the projects will fail during the execution of their whitepapers , but the few that manage to put into production new decentralized protocols or dApps have many possibility to capture the input of users with the potential to generate powerful network effects. When the new decentralized protocols begin to operate in mass production mode, they will become the foundation for companies, startups and communities to generate new decentralized applications using one or more of these new protocols. "
For JR. Willet , founder of Mastercoin, "2018 will see the beginning of a bear market in cryptocurrencies, which will make ICOs less popular. It is probable that in 2018 they will collect less than in 2017, both due to market conditions and the increased attention of the SEC. Finally, the market will recover and, probably, also the ICO, unless the regulators become really draconian. "
In Tabbakh's view , the increase in ICOs could slow down next year and one of the reasons will be the increase in government regulations, which will be established to discourage malicious entrepreneurs from using it. Being optimistic, less than 10% of current ICOs will be able to generate strong, relevant and innovative ecosystems that can help solve the current problems of scalability, privacy and governance around blockchain technology, as well as intelligently reform certain industries. "
Marieke Flament Blockchain Bitcoin
Marieke Flament
Javier Sebastián , responsible for digital regulation of BBVA Research , believes that "in 2018 the conjunction of regulatory initiatives by the authorities and the push of the industry in terms of standardization and definition of 'best practices' will solve the current legal vacuum and will convert ICOs into an alternative mechanism of regulated financing for emerging companies "
From the legal point of view, Alejandro Gómez de la Cruz , lawyer and CEO of Icofunding , a platform dedicated to the launch of ICOs, "the regulation of ICOs will begin to be clarified in more jurisdictions, both for utility tokens and tokens securityLarge taxpayers will begin to declare large patrimonial masses derived from cryptocurrency before the Tax Administration. Good practices will also be established when launching ICOs and we will see a greater professionalization of the sector, which has already been seen in recent months. Likewise, niche businesses will emerge around the ICOs, such as development, code and financial audit, legal or marketing. Many of the projects that have already launched ICOs will start making product releases and, for better or for worse, the price and valuation of the tokens will be closer. We will also see consolidated companies, not just startups in the seed phase , decentralize part of their business models through token emissions. "
Regarding the perspectives of the token market for 2018, PreobrazhenskiyHe explained to CriptoNoticias that his company conducted research last summer in which they estimated that the total capitalization of cryptocurrencies "could exceed $ 5 trillion by 2025, but this number may seem conservative, because the market is growing faster than what we expected. We estimate that market capitalization would reach 400 billion dollars by the end of 2018, but the latest news about bitcoin futures exchanges and the growing interest of institutional investors in cryptocurrencies accelerated growth, which is why we already have more than 600 billion dollars of market capitalization. Which means that it has multiplied by four since we published the report. "
Valentin Preobrazhenskiy LAToken Cryptoactive
Valentin Preobrazhenskiy
Preobrazhenskiy also indicated that "in 2018 the volatility of the cryptocurrency market may increase further, since the rapid growth of capitalization at the end of 2017 was still accompanied by a similar growth in the number of crypto purses. However, the long-term trend remains: the crypto market will grow exponentially in the next five or seven years, mainly thanks to the high rate of adoption of cryptocurrencies, as well as those of mobile phones and the internet. The advantages that blockchain provides, such as ease of cross-border transactions, low transaction costs and security, are enormous, and we estimate that the number of cryptographic portfolios will double next year and reach a record of 40 million wallets. "
Regarding the evolution of tokens linked to assets, Preobrazhenskiy added that "the biggest growth of the cryptocurrency market will be led by tokens linked to assets, which range from capital and debt, to real estate and works of art. Those assets linked to tokens can be used as a cryptographic shelter when the market is volatile. By 2025, they can represent at least 80% of the total market thanks to lower volatility.
There is another sign of the great potential of the tokens linked to assets. And is that by looking at the structure of the portfolios of traditional investors, it is seen that only have about 5% in cash or equivalents, and the rest are assets, such as real estate, stocks or bonds. We expect there to be a similar situation in the cryptocurrency market in a few years. Only a fraction of the capitalization will be in cash currencies such as bitcoin or litecoin. Most tokens will be linked to different asset classes. "
JR Willet Mastercoin Cryptocurrency
JR Willet
For Kuchkovsky , "this year we have experienced the creation of new types of tokens, whether they are useful / access or financial rights, uniting both financial and functional crypto growth. During 2018 the pace of this financial / functional combination will accelerate and the pace will be put by the technology. Creating new token types and allowing token to join and interact with each other. "
On predictions related to cryptocurrencies, Pertusa said that "in 2018 we will see how institutional investors begin to enter and invest in this type of assets. So far, 'Wall Street' or investment banking has been behind the retail world. Currently, in investment in cryptocurrencies such as bitcoin, ether or litecoin, retail investment predominates approximately 90%, compared to 10% wholesale. However, next year the weight of institutional investment can increase thanks to the new investment vehicles referenced to bitcoin that are emerging, such as, for example, bitcoin futures offered by CME and CBOE , the main futures market infrastructures. of the USA ".
Javier Sebastián Blockchain Research BBVA
Javier Sebastián
On this subject, Tabbakh stressed that 2018 will be "an important year for the expansion of Bitcoin and other securities and derivatives driven by cryptocurrencies. Futures contracts were launched by CME and CBOE and other derivatives are expected to be exchanged by banks and hedge funds in 2018. Bank of America recently won a patent for a cryptographic exchange system. We can clearly expect institutions to offer certain products based on cryptocurrencies so that they are not left behind by their US competitors that currently seem more bullish to propose bitcoin derivatives and based on cryptography to their customers. "
According to Sebastián , "during 2018 we will see new announcements of cryptocurrency issuance by some central banks, as Venezuela has already done , including probably some economically / politically relevant country, such as Russia, which will lead to to an intensification in the efforts of analysis of this type of coins in other geographies "

MEDIA AND ADVERTISING

What there is no doubt is that blockchain promises important changes at the heart of many sectors throughout 2018. And the media, as we have been reporting from CriptoNoticias, will be one of the most affected by this technology. This is corroborated by Tabbakh, who indicated to our newspaper that where blockchain could have a greater impact during 2018 is in the media sector. "With the current income model, which encourages volume over quality, the industry is going in the wrong direction. The economic model of the Internet is broken. The tokenization and monetization capabilities proposed by blockchain and the creation of new token economies offer new opportunities. Monetize a content, set a price or conditions is possible with the creation of smart contracts and it will be as easy as setting up a profile on social networks, "explained Tabbakh.
On the incidence of blockchain in the communication sector, Matej Michalko , CEO of DECENT , a platform focused on revolutionizing the distribution of content, said that next year proliferate applications related to the distribution of content and the industries of the media. Michalko also said that traditional media business models will be affected by new ones and that in emerging and developed markets, digital will be advanced.
Alejandro Gómez de la Cruz Cryptoactive Blockchain
Alejandro Gómez de la Cruz
Adrían Garelik , founder and CEO of Flixxo, a company that aspires to become the new decentralized YouTube, told this newspaper that in the video sector "the first blockchain and video projects will start to bear fruit throughout 2018. There will be interest from sectors and industries with much visibility for participating in some way, for starting to test the possibilities of decentralization in the distribution and monetization of content. You will see some short productions with participation of important figures of the international show. Content distribution projects are going to add content production projects using blockchain. Some projects are going to outline the possibility of reaching the mainstream, but I think the explosion will be in 2019. "
On the behavior of blockchain in the advertising sector,  Wally Xie , CEO of  Qchain , told CriptoNoticias that the digital advertising market is currently in a cold moment. "Buzzfeed canceled its IPO and Mashable could be rejected. As a result, I believe that 2018 will be a year of silent innovation in advertising technology, as well as in blockchain advertising technology, as people discover how to make digital advertising sustainable in the future. "

ENERGY

Another of the sectors where blockchain promises to break with force over the next year is the energy. In fact, this technology has already managed to break the monopoly of marketing and distribution that electricity companies have been using for more than a hundred years. There are several examples of the use of blockchain in the electricity sector distributed around the world.
Matej Michalko Blockchain Communication
Matej Michalko
Juan Garrigosa , director of innovation at Endesa, a leading company in the Spanish electricity sector, told this newspaper that throughout 2018 "the number of use cases in the energy sector will increase, but first two fundamental barriers will have to be overcome. The first, that regulation allows it. The second one confronts us with a great difference between the financial sector and the energy sector: economic operations, in many cases, are accounting operations where there is no exchange of any physical assets and are carried out over the Internet, so that intermediaries can be avoided . In the energy sector, however, to make energy exchanges, although you can also make an accounting note on the Internet, it is essential that the electrons circulate through a network and be measured by meters.
Garrigosa also commented that the company is working on the possibility of implementing the most promising proposals received in the Blockchain Lab that they launched a little over a year ago. The Endesa executive also highlighted to CriptoNoticias some of the best known initiatives in the blockchain energy sector. "For example, its use for the exchange of peer-to-peer energy between individuals with surplus energy from their solar panels, such as Power Ledger in Australia. Also, there are several application proposals to share electric vehicle recharging points between individuals, such as the one proposed by the Spanish startup SHARGEAnd it is also known the first trading operation of 1 MW of energy between the companies EON and ENEL, within the framework of the Enerchain initiative launched by the main European electricity companies ".

FARMING

Adrián Garelik Blockchain Media
Adrián Garelik
Agriculture has also been revealed as a key sector for the application of this technology. For example, in everything that has to do with the traceability of food or international trade operations between producers and buyers. Genevieve Leveille , founder and CEO of AgriLedger, a blockchain mobile application, which acts as a truly incorruptible source for small farmer cooperatives, believes that in 2018 "we will see further exploration of the power of this technology in agriculture and that there will be a large number of new solutions making use of the economies of tokens, through the ERC20 / 23. The tokens will be used to buy the products and create a market with them. " "A great example of this would be Banana Coin," Leveille told CriptoNews.
The CEO of AgriLedger added that in 2018 also "we should see a series of solutions, such as AgriDigital, where there is an intelligent contract to guarantee payments to the farmer. As the world is huge and none of the new companies, or even corporations, have the means to take advantage of the entire market opportunity, a large number of companies will emerge. There are also startups such as Ripe.io , OriginTrail or Authentag, which are making tests of inviolability or guarantee that organic products really are. "
Juan Garrigosa Blockchain Endesa
Juan Garrigosa
Leveille also says that he would like to see more things in the fishing industry. "A couple of years ago the Provenance project emerged , but it did not go any further. I think that with the ability that IOTA pursues with the Internet of things, we should see Agri Sensors capable of sending details to the chain. " Leveille also considers the definition of standards and the participation of government agencies a key area and believes that by 2018 "we will hear more about oracles, artificial intelligence and machine learning".

JUSTICE AND LAWS

In the legal field, Xavier Foz Giralt , lawyer specialized in blockchain and partner of the firm Roca y Junyent, explained to CriptoNoticias that "2018 is going to be the year in which blockchain will exponentially multiply its use cases and in which it will move from the laboratory to the practice in many of them. This will imply that lawyers have to be involved in earlier phases of the projects and, in particular, in proof of concept. Smart contracts will be a new reality that will have to be faced by all legal operators, not only by lawyers. The combination of this new tool with models of artificial intelligence can give a very significant shift to a sector as traditional as the legal, both from the point of view of advice, as the own business model of the firms. On the other hand, it is very likely that during the next year we will see how the legislators,
Genevieve Leveille Blockchain Agriculture
Genevieve Leveille
For Javier Ibáñez Jiménez , director of the Fintech Everis Comillas Legal Observatory and director of the Garrigues Chair in Corporate Law, in 2018 "we will see some progress in terms of applications of the RPD for DLT (accounting distruibida), and also in regulation of digital identity . There would also be news with the notaries (notarial identity, notary money), but it is difficult to know now if the advances will occur so soon, because the regulators are not pronouncing and also have urgencies to attend "
Tabbakh states that "2018 will be exciting and full of new developments, what will gain traction will be the technology more than any particular cryptocurrency. Blockchain solution providers, regulators and legal departments will have to collaborate with each other and with all other parties involved to define the legal scope and responsibilities of existing blockchains, future ICOs and cryptocurrency projects. "
Gómez de la Cruz explains that in 2018 "specific regulations will begin to be set to square this paradigm shift in the legal system in different areas: financial / regulatory banking, taxation, electronic contracting"

EDUCATION

Xavier Foz Giralt Blockchain Justice Laws
Xavier Foz Giralt
In the field of education, Tabbakh predicts that in 2018 there will be an increase in blockchain programs in universities, where it will begin to be inevitable in Fintech programs and computer degrees. Other branches could be developed more specifically in consensus protocols, which could become a completely new discipline.
For Miguel Caballero, CEO of Tutellus ,the world's largest collaborative platform for learning and teaching in Spanish, 2018 will be a year of evangelization in terms of tokens, EdTech and decentralized education. "Although there are several tokens in the market, the very immaturity of the same will mark the pace of development of the different projects, as well as the back-office infrastructures of the different companies that exploit them and the amount of content they have, capable of interacting with said token. For example, the impact generated by the token of a platform with 1 or 10 courses will be much lower than that of another with 1,000 courses ". Caballero is optimistic and says that Tutellus will lead the decentralized EdTech market, "since not only do we expect to have our token one hundred percent operational by mid-year, rather, we have the largest content and volume of users that can interact with said token. We maintain a forecast of 200,000 video courses and 1.5 million students. "

INSURANCE

Andrés Zunino , director of Zircontech, the Uruguayan company that presented a blockchain development for car insurance last summer in the Latin American market, affirmed that "the insurance sector will fulfill in 2018 what we expected for 2017. This year that was ending was going to be the proof of concept, to then start with the implementation of projects. However, all this was delayed and now some companies start thinking about doing something about this issue. In our region, this was seen in most industries and not only in the insurance sector. All the changes that have occurred with bitcoin in recent months have helped to increase the knowledge of the common people with regard to blockchain, or at least, it is a good entry point to start talking about technology. In summary,
Javier Ibáñez Jiménez Blockchain Fintech
Javier Ibáñez Jiménez

HEALTH

As in other sectors, health will also be broken by blockchain, where it promises the exchange of medical records data between different hospitals without taking into account the location of them. This technology will also allow patients to access their clinical data from any place and terminal.
Kat Kuzmeskas , CEO and co-founder of SimplyVital Health , a company that works on the exchange of medical data using blockchain, told CriptoNoticias that "our blockchain protocol, Health Nexus, is gaining strength and we believe that there will be excellent applications that will take advantage of our system of key pairs. Some include: health care data exchange, pharmaceutical supply chain, medical credentials, and opiate addiction treatment applications. "

BITCOIN

Miguel Caballero Blockchain Education
Miguel Caballero
Bitcoin began the year 2017 with peaks of one thousand dollars and ends it around fifteen thousand dollars. During the year that ends, the cryptocurrency was subjected to at least two important bifurcations: in August and November. In April 2016, bitcoin launched 95 million searches in Gooble and closed 2017 with 301 million. On the evolution of bitcoin throughout 2018, Tabbakhbelieves that it could progressively become a true source of value and a cryptocurrency widely used to negotiate derivatives. "Knowing that the size of the bitcoin network is still very small, about 300 billion dollars compared to the size of the gold market, which is at 6 trillion dollars, Bitcoin would need more time to become the real gold digital. Another positive impact could be generated from a robust improvement of the blockchain exchanges and the purse ecosystem. Not only must the security of exchanges be fully improved, but the user experience must be emphasized. For example, with the creation of crypto-cards and other secure key storage techniques, that will make the end user feel more comfortable doing transactions in bitcoins. However, I doubt that bitcoin will become a common payment value knowing that other block and cryptocurrency chains are and will offer much better technical features: consensus protocol, speed or block size. "
Andrés Zunino Blockchain Seguros Autos
Andrés Zunino
Tabbakh goes on to argue that "governance and regulation can also have a positive or negative impact depending on whether regulators and governments accept and encourage their financial ecosystem to accept bitcoin as an official currency (Japan) or if they simply decide to establish more bans. and limitations on trade in bitcoin derivatives (China, Indonesia). The evolution of security and user experience around bitcoin exchanges and portfolios will be crucial in the evolution of the bitcoin price. Mt Gox in Japan in 2014 , Youbit in Korea in 2017and others have been victims of hackers due to their lack of experience, skills and professionalism. If a new theft appears, it will definitely tarnish bitcoin's reputation and push regulators to adopt a negative stance towards Satoshi Nakamoto's currency. However, if we observe the emergence of a better and safer exchange and wallet environment, not only will it positively influence regulators, but it will also improve the daily payment and remittance sending experience that Bitcoin was originally supposed to have ".

PRIVACY AND DIGITAL IDENTITY

Katherine Kuzmeskas Blockchain Health
Katherine Kuzmeskas
In terms of the privacy of Bitcoin and blockchain, a key issue for the development and adoption of this technology by banks, companies and users, the CEO of QED-it affirms that when he speaks with the CTOs of multinationals, there is no doubt that the privacy of the data in the blockchain is your biggest concern. "On the one hand they have more and more data to share and blockchain is good for it, but on the other hand they need to maintain the confidentiality of that data. Nowadays there is a promising way to solve this dilemma, using both the cryptographic technology of demonstrations of zero knowledge and the blockchain for companies, we call it the Zero-Knowledge Blockchain and can accelerate the adoption of the blockchain even in the SMEs ", affirms Rouach.
Regarding digital identity, Rouach explains that "there are many good blockchain applications in this area. As distributed system offers more security for personal data, for example for tax data would be under the control of the person. Although the truth is that a digital identity does not have to be only of people, but they can also be assets, companies or products that benefit from the decentralization of the blockchain to handle the data ".

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