Blockchain Driven Consultant, Morgan Hill was invited to speak at ICO conference in New York City. ICOnference was a fantastic event to meet enthusiastic crypto investors and company founders from across the globe within the finance industry.
New ICO based startups are focusing on novel blockchain concepts and synergy with existing business models, such as streaming data and application services. This is much better than the current Alt-Coin model on Ethereum where you just take a core business, say lending loans, web domain registration, or Moon-pie cakes, and make a coin for it. The blockchain is certainly the next frontier and many investors, developers and major companies are taking it seriously. There are many opportunities in it, and we are just on the tip innovation and opportunity.
At the conference, we observed a number of novel concepts, like the creation of an IoT (Internet of Things) hardware tag that would uniquely be matched to a blockchain address which would accept direct payment. The investment potential here is amazing and could be its own 10x class multiple if executed well. This has many revolutionary ideas, such as the ability to pay the “meter” directly for service such as electricity or water. It reminded us of Vitalik Buterin’s quote about the smart contract being the equivalent of a vending machine for products.
With hundreds of potential use cases and the disrupting power of blockchain, the financial field is the most currently the most innovative industry in regards to this technology and this was definitely a highlight of the ICO Conference. All companies in finance should be considering the use of blockchain in their own business if they're to keep up with modern and future innovations.