30. March 2018

"The blockchain technology is a big revolution; comparable to the invention of the internet protocol"

At the moment, the blockchain industry is at its beginning - meaning it shows potential but it is still quite chaotic. That's the problem why so many people have a negative perception of the industry.

CRPTO IS THE BIGGEST REVOLUTION SINCE THE IP was invented. A statement, IEG - Managing Director and CEO Stefan Heilmann stressed during the Cryptocurrency World Expo in Berlin held on March 22nd - March 23rd. Before turning to the potential of the blockchain technology however, he explains why so many people have such a negative perception of blockchain, the cryptocurrencies and ICOs.

Blockchain is a young industry - meaning it is still very chaotic. Because Stefan Heilmann is absolutely convinced of the huge potential of blockchain, he emphasizes the need for the industry to "grow up" fast and become reliable long-term. Blockchain provides huge opportunities but at this stage it also brings many risks and fears. The issues are i) banks and institutional investors do not touch the matter as they do not know how to hold tokens or coins, ii) it is still at a stage where people still perceive it more as a concept than a valid business because the is a lack experienced people who know of how to make money with it and who can explain the purpose and iii) due to the experience deficiencies, investors are still hesitated to be really interested and get involved. Another huge challenge is the fact that an outcome is hard to predict. All in all, these are all factors that currently have a deterrent effect on investors.

Check out the complete keynote on "Demystifying ICOS" which provides answers on why Blockchain still lives up to the hype, why an investment will pay off in the long term and to what extent this technology will permanently change all industries.