Last week hosted the seventh Blockchain Conference in Moscow devoted to the blockchain, cryptocurrencies and ICO. The conference organizers expect that it will be the largest blockchain conference in the world. Blockchain Conference is held in different countries and, therefore, really has great scope. But specifically, this Moscow conference is the most ambitious call will not work. At the end of the article we will understand why.
Review of reports
In total there were about 40 presentations, held in parallel in two streams.
One of the threads began with a presentation by Viktor Morozov – Director of the Russian division of the consulting company PwC. Morozov said that the financial technology will begin to displace banking services, and should be thinking about implementation now. But the introduction of the blockchain in the work of the company is a complex process that is fraught with many difficulties.
Deputy General Director of FINAM Yaroslav Kabakov told that it is now possible to trade options and futures on bitcoin, and not just buy the cryptocurrency itself. Kabakov assured listeners that the market is analyzed, and thus it is possible to earn.
Unusual was the report of the businessman Dmitry Potapenko, who expressed unusual visitors such conferences thought: “the Blockchain is the caterpillar from which a beautiful butterfly will emerge. And now the blockchain does not need to use, for example, in the state. In the transaction it is impossible to change, and in the Russian Federation it is unreal. Our level of relationship is tribal, and we would at least go to the feudal relations in the state.”
Much has been said about security in the world of the blockchain and cryptocurrency. Research fellow at the Russian quantum centre (SKOLKOVO organization) Alex Fedorov told about the threats of quantum computers the blockchain and the ways of dealing with them. With his team, Alex has developed a new quantum-secure blockchain resistant to threats associated with the advent of quantum computers.
Very interesting was the report of Ruslan Yusufov, where he talked about the five most serious theft in the world of cryptocurrencies, in which the attackers had stolen around 1 million bitcoins. It made the audience more time to think about how easily anyone can lose their cryptocurrency, and not because of the vulnerability of the technology itself, but, for example, due to the use of insecure passwords and other trivial reasons.
Specialist blockchain Kaspersky Lab Alexey Malanov presented quite an interesting report on the difficulties of working with smart contracts, and told stories about the theft of huge sums of money, became possible due to vulnerabilities in the code of these smart contracts.
Evgeny Grankin, senior analyst of Gazprombank, spoke about the possible profitability of investment in ICO. According to mid-2017, 45% of ICO was a loss, but 20% was extremely profitable. From this it follows that the income from the investment in ICO (for long term 2-3 years) could be higher than the income from investing in cryptocurrency, although the level of risk in this case is much higher. The volatility of bitcoin is high: 89% versus 7% for USD, and volatility according to the eight major cryptocurrency funds was above 200%.
There were many presentations to visitors interested in opening their own ICO: ICO examples of successful, open and maintain such banking accounts, possible cyber threats, contact with the media. Was also named the average price of holding ICO — $2 million
The opinion of the media
The event was held two plenary discussions. One of them representatives of major crypto media discussed why the media mostly refuse ICO projects to write about them.
Alina Belkovskaya — expert on media is quite interesting and emotionally expressed that “most of the ICO projects are not interesting, if you have no background-established reputation, brought benefit to people”. So “everyone else should just accept the fact that the media does not want to write about such ICO”.
Ivan Tikhonov, the representative of the Bits.media — said that “on average, I write about 10 emails a day asking about the publication of a press release ICO project, but published only a small part. And in order to interest the media, you have to turn your head, look for win-win with the publication and readers”.
Tatiana otter, editor in chief Forklog, expressed the same position: “Send a lot, and are published free of charge 2-3 articles per month. Such projects should be interesting, there must be some fame, and a marketing budget.”
Interesting information at this conference was the statistics of demand for blockchain-specialists on the labor market. In 2017 on the website HH.ru posted 484 vacancies for specialists in the blockchain. In 2016 such vacancies have not yet been. But the developers that are eligible for such vacancies, almost there. Thus, this area is very promising for work, and blockchain experts — one of the most sought-after, well-paid, and having the opportunity to work anywhere in the world.
The scale of the event was not as large as organizers expected. Yes, some stands mining companies in the exhibition area were surprised by the scope and quality of the speakers shared interesting figures and cases from his practice, but the lack of visitors was visible quite clearly. Some recent events had a much larger scale and fullness.
Perhaps the crypto conference has become so often that it becomes difficult to give the audience something new. Judging by the blockchain calendar of events, various events occur not just daily, sometimes several a day. At various conferences, the speakers often repeat, and informative individual reports is below. While attending an event I want to get a lot of new, useful discoveries and ideas, but many conferences all the more difficult to offer. I hope that this is just a transition period to ensure that the organizers have an incentive to come up with something new, unusual, intriguing, and visitors again became interested in this format of events in the blockchain.