Although blockchain technology carries immense potential with it, the lack of a robust governance framework, limited interoperability, and its complex nature are some of the challenges that bottleneck its mainstream adoption. Emmanuel Fenet, CEO of Chain Of Events, SAS, discusses how events like Paris Blockchain Week provide the necessary impetus to the technology in the latest episode of Dinis Gaurda YouTube Podcast series. The podcast is powered by platforms like openbusinesscouncil, citiesabc, and fashionabc.
Blockchain technology is one of the most revolutionary innovations of the modern era. Initially, blockchain was created as a way to enable secure and transparent transactions in the cryptocurrency space. However, its potential has far surpassed the realm of digital currencies and is being applied across various industries due to its transparent and decentralised nature.
While blockchain technology has the potential to revolutionise many industries, there are several challenges that need to be addressed before it can be widely adopted. Limited transaction processing capabilities make it difficult for blockchain-based applications to compete with traditional centralised systems that can process a much larger volume of transactions.
With numerous blockchain networks, each with its own set of protocols and standards, a lack of interoperability can make it difficult for different blockchain-based systems to communicate with each other and share data. Lack of regulation or strict regulations in some parts of the world is another major challenge that this technology faces.
Referring to the recent crashes in the crypto industry and the ongoing crypto-winter-like situations, Emmanuel Fenet told Dinis:
"People have started to look that it's not the technology at fault, but the use cases. So, in this down-period, it is really good to check if you are in it just for the speculation or the hype of it. You should rather be into something that you really believe in. People now tend to ask what are we building or just another atmosphere of speculation?"
Paris Blockchain Week is an annual event that brings together blockchain experts, startups, investors, policymakers, global organisations, educational institutions, and government officials from around the world. The event is designed to foster collaboration and innovation in the blockchain space and to help blockchain technology become more mainstream.
"Paris Blockchain Week is a platform to showcase the technologies they are being built, lessons learned from a few years in crypto, and the solutions that can be created in the future", Emmanuel said.
Illustrating the journey of Paris Blockchain Week, he said that the very first edition of the event had about 1500 people from across the world, including the founding team of Binance.
"Now, after 5 years, you can see that Binance has over 100 million euros in investments for different projects in France. We aimed that these very original players became the big players in the industry", he told Dinis.
With big players like Amazon, Google, and Meta, and officials from European Commission and other central bodies participating in the event, "this next edition is going to really interesting", Emmanuel told Dinis.
Paris Blockchain Week 2023: An event to unlock the true potentials of blockchain technology
Paris Blockchain Week 2023 is a week-long event that brings together experts, entrepreneurs, and thought leaders from around the world to discuss the latest developments in blockchain technology and its various applications.
The event is scheduled from March 20-24, 2023 at Louvre de Paris. Emmanuel highlighted an overview of events at the Summit:
The Blockchain Summit: An event since the very first edition of the Paris Blockchain Week, it focuses on the big trends and innovations that create value.
"The ones interested in the Summit are the ones that are looking at technology to solve problems, or to solve real issues like making the supply chain more secure, crypto payments on eCommerce site, having more traceability on the supply chain", said Emmanuel.
Paris NFT Day: This event was introduced by Emmanuel himself in 2022, as the markets trended for Non-Fungible Tokens (NFTs).
Non-fungible tokens (NFTs) are a type of digital asset that is unique and cannot be replicated. They have gained significant attention in recent years due to their potential use cases in various industries, particularly in the creative and entertainment sectors. With the advent of Web 3.0, NFTs are expected to play a crucial role in the new decentralised web.
"When we talk of the digital revolution, Web 3.0, NFTs is a just a way into it. It is simply a technology for everything that Web 3.0 has to provide. The event is for corporate users, a B2B event, not the general public. The corporations that we are interested in the Web 3.0 experience are there to find out how this technology is going to change the interactions or consumer behaviour or the way commerce is done. We don't look at the inside technology, but what it provides as an interface for corporations and the customers."
Talent Fair: Recruiting and retaining talent is a significant challenge in Web 3.0 due to the highly specialised and diverse skill set required. Further, the decentralised nature of the environment and the competition for talent make the ecosystem even more challenging for creators.
Addressing these challenges requires a proactive and strategic approach, including building a strong employer brand, offering competitive compensation packages, and creating a supportive work environment.
"We have a Talent Fair and a Talent Day where we address all these issues. We create debates and discussions between peers who are living it and doing it to carve out a trajectory for the future."
Emmanuel further divulged Special Investors' Day and Startup Competition to bring forth startups and corporations that are creating new job opportunities for these Web 3.0-specific skill sets.
"600 startups already participating in the startup competition. It's a great way to get an insight on your business model and a take on it by the people who are really behind it, and will be able to give you some feedback", he told Dinis.
Concluding the interview, Emmanuel said:
“During Paris Blockchain Week 2023, attendees will have the opportunity to attend various workshops, seminars, and panel discussions. These events will focus on various topics related to blockchain technology including its potential applications, security considerations, and other topics of interest. It also aims to educate the public on the potential applications of blockchain technology and its implications for the future, and would span across multiple industries and countries.”
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