Primary challenges with blockchain technology according to Daniel Skowronski
[VIRTUAL CONFERENCE] The leading Blockchain Expo World Series announced it’s free Blockchain Expo Europe Virtual taking place on the 25-26th November 2020.
The Blockchain Expo Europe Virtual show consists of 4 co-located events | 5000+ attendees | 100+ speakers.
5 questions with Daniel Skowronski | General Manager | fabriik:
- What is your company’s roadmap for the rest of 2020 and what should we expect to see from your team in the next 12 months?
- Our goal at Fabriik is to provide open access to a marketplace where anyone can transform, hold, trade and grow any asset they own. Over the coming 12 months we will be launching products that allow anyone, anywhere in the world to be able to participate.
- How is your company applying/advising on blockchain/ exploring digital assets?
At Fabriik our objective is to reimagine prosperity together by building a blockchain-native, frictionless and unified financial asset ecosystem. People, firms, and institutions will be able to directly benefit from blockchain technology and have simpler, more secure, and inclusive financial infrastructure. Today we provide market making technology to digital assets on exchanges, and an Over The Counter (OTC) desk to carry out large trades safely and without price slippage. We have a couple of unique products in the pipeline that we think will help evolve the digital asset industry. We look at blockchain holistically and through a protocol agnostic lens, that means we evaluate each protocol (like Ethereum, Bitcoin, Litecoin, etc…) on their individual merits and build products that best suit the protocol we are working with. Many of our applications require low-cost transactions, and a scalable infrastructure so we tend to focus on protocols that can provide that.
- What were the biggest challenges, &/or benefits, in using blockchain technology?
The primary benefits of blockchain technology are security, transparency, efficiency, and auditability. Together, we are using the technology to provide meaningful innovations and solid use cases that combine those characteristics into practical solutions. A common ledger of transactions that eliminates the double-spend problem is a breakthrough in payment processing, using what’s called “proof of work” ensures reliability of data and eliminates the need for many inefficient legacy financial systems. Also, tokenization of real-world assets and increasing access to investment opportunities can be unlocked by blockchain technology.
The primary challenges in using the technology does not come from the technology itself, but mostly from regulatory, institutional, and individual reliance on the current legacy financial and technological infrastructures. Change is generally difficult, yet we see adoption of the technology taking place and are working towards creating an accessible, transparent, and inclusive ecosystem for all.
- How are you seeing the rate of adoption of crypto assets in the last couple of months?
We are seeing an increase in meaningful treasury allocations to BTC among non-digital asset-based firms. One of the most discussed adoptions of BTC as a treasury asset was a recent $425M USD purchase by MicroStrategy, a business intelligence company. Similarly, Stone Ridge Holdings Group amassed about $100M USD in bitcoin treasury assets. Other non-digital asset firms have also taken considerable BTC holdings in treasury, such as Square and even a small restaurant chain in Ontario, Canada which converted their entire cash treasury to BTC. In total, there is almost $13B USD held as treasury assets. Also, proponents are even pushing for Apple to add BTC to its treasury and even integrate the digital asset infrastructure into Apple Pay.
Further, banks are increasingly incorporating BTC into their operations, including a recent announcement from the world’s second largest bank, and a global consortium is working on real-time cross-border settlements.
Our world series conferences are constantly evolving to meet the demands of our current global situation and the blockchain ecosystem. Find further information here on Blockchain Expo Europe taking place Virtually on 25-26th November 2020. Join us for the Blockchain Expo Global 17-18th March 2021 at Olympia London.
For further information contact:
[email protected] / +44 (0)117 980 9023
-  https://www.coindesk.com/microstrategy-bitcoin-buy-protects-against-fiat-inflation