• The remaining challenges between technology and market readiness levels
In average the technology readiness was ranked at 58%, with a technology readiness level (TRL) at 5, meaning the breadboard itself is validated in restricted and simulated environments. However, the market is ranked at 49%, meaning half of the respondents believe the market to be ready. And yet, as stated by Jérôme Grillères, General Manager Europe at VeChain the first and foremost undeniable and valuable blockchain selling proposition is the traceability and the guaranty of data authenticity the technology can offer. Those unique and precious functionalities allow many possibilities to design new ecosystems and to build new business models, provided that the community is collectively able to adopt standards and protocols that allow the technology to reach its full potential.
• The main expected impacted industries according to corporates
Distributed ledger technology and its blockchain variables are used in corporations already on a global scale, mostly in the banking sector. But beyond fintech other sectors raise interest such as insurance, but also media/entertainment, healthcare, and government which are seen as the most attractive application fields for blockchain. This point will be especially addressed during INPHO® Venture Summit 2018 with a dedicated session involving Health Technologies Assessment (HTA) authorities’ representatives as well as blockchain providers.
In the presence of Hans Peter Dauben from the German HTA authority, the use of blockchain as an enabling solution for Healthcare current challenges will be analyzed. How to use blockchain for patient data management? What are the hurdles to be considered? Who will manage the cost of the implementation and is blockchain the unique solution? So many questions that will be discussed during the session INPHO® Venture Summit 2018 will dedicate to industrial blockchain applications
• The most interesting uses cases to be developed
These functions link with the emerging application sectors of blockchain. For instance, the healthcare industry is seen as a promising industry as far as blockchain applications are concerned due to the need for electronic medical records, identity management, data authentication between healthcare providers and other stakeholders. The wide deployment of blockchain systems could help prevent infringements and or unauthorized uses, but also goods tracking in complex networks cross industries.
• The current limitation to industrial blockchain solutions adoption and diffusion
According to 42% of the respondents, the complexity of blockchain technology is the first limiting factor that hinders its development while interoperability is still at stake for 38% of them.
Yet, Dieter Kraft, Managing Director at TRUMPF Venture who will chair the session dedicated to blockchain, is optimistic. Considering that “blockchain has the potential to change the world to an extent that some of us already experienced in the ramp-up of internet performance” he believes that the current limiting factors will become an old stories faster than expected. To illustrate this expectation for a quick adoption and diffusion of the technology, he mentioned the on-going shift from crypto-currencies to the attempts to set-up regulated Initial Coin offering, (ICO). The need for technology improvements will obviously be at the core of the discussions during the INPHO® Venture Summit.
In its five previous editions, INPHO® has attracted more than 500 European participants, 50 international keynote speakers and over 80 VCs and corporate funds. More than 60 start-ups have been selected to pitch, raising more than 150 M€.