Real World Applications of Blockchain Technology, Insights from 102 Leaders

Zage Report Provides Insights from 102 Leaders in Blockchain

When one wants to know the answer to a question, it’s best to go to the source. That’s what blockchain marketing agency Zage did — 102 times — in their new report “Real World Applications of  Blockchain Technology”.

The 255-page report uses interviews with over one hundred leaders, founders, and investors in functioning blockchain projects, those that have broken out of the theoretical constraints and abstract promises of a white paper to give real value to real customers today.

Some of the findings compiled in the report were to be expected. For example, 56% of respondents referred to the financial services industry as one of the next industries to be transformed by blockchain. Other industries that were favored by respondents included Health Care and Logistics/Supply Chain.

“Finance is the only industry where I feel extremely confident that blockchain will play a significant role. At the moment all of the world’s assets are fragmented into different systems, and there is an enormous cost to keeping all of them updated and in synch. Interoperability of financial assets represents a huge opportunity and the companies that figure it out will create a massive amount of value,” Alex Wearn, CEO of Aurora (IDEX) said.

Andreas Kalteis, CEO of Novem Gold said about blockchain in Healthcare, “Let’s… talk about human life. People die every day because the medication or treatment they receive is based on too little information, which is not the doctor’s fault but it’s just the state of that industry…. Sure, business is exciting, but saving lives is far more exciting.”

The report did address some challenges in mainstream blockchain adoption, with many respondents pointing toward the need for a web and mobile web comparable UX. When asked what would be the tipping point for mass adoption of blockchain, 41% of respondents felt that a seamless user experience was key.

Of course, many respondents pointed to the need for blockchain solutions particularly for billions of unbanked and underbanked people living in parts of the world developing economies. The consensus was that more needs to be done to reach these underserved audiences.

“As an example, you can provide a payment solution for unbanked people in Namibia, but if those same people don’t have resources at their disposal and a viable infrastructure to support it, what difference does it make if they have mobile phones with cryptocurrency applications? This kind of scenario is what we all have to look at earnestly, and take seriously,” Gunther Sonnenfeld Founder of Novena Capital said.

But overall, the tone of the responses (which take up 230 pages of the document) was positive and optimistic about the future. Han (Isaiah) Yoon, CEO at Lunar Digital Assets, who said: “I believe that the 2018 market has been good for the blockchain industry. It has weeded out many of those that were attempting to abuse this industry still in its infancy for a ‘get rich quick’ scheme.”

To download the free report, click here.

Author: Justin Roberti, Contributing Writer
Bio: Justin has over 25 years of experience working in media with leading technology companies. He is currently Director of PR for Zage.


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