Networking on a vessel: new A-list speakers announced for Coinsbank Blockchain Cruise 2019

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IBM Blockchain Director and Ajit Tirtha from ConsenSys join main conference lineup 

Despite the current situation in the market, many blockchain events are getting bigger. The main trend of the year is how blockchain technology comes to different fields of business. 2019 can already be called the “year of blockchain” – as opposed to 2018, which was the “year of the ICO”. Blockchain for enterprises and widely discussed STO will be covered on Coinsbank Blockchain Cruise 2019. IBM Blockchain Director Pietro Lanza and Ajit Tirtha from ConsenSys will have to take part in panel discussions dedicated to blockchain for enterprises topic on the vessel.

Another example of positive dynamic is the successful implementation of blockchain technologies in Grand Bahamas. Together with co-founder of PO8 technology Matthew Arnett, Grand Bahamas administrator Don G. Cornish will tell about their experience in regulations.  

During Coinsbank Blockchain cruise Ajit Tirtha, Fintech at ConsenSys will share some of his notable projects, among them, are We.Trade blockchain platform for trade finance at Deutsche Bank and  Tokenization and Blockchain Applications.

Meanwhile, IBM Blockchain Director Pietro Lanza has something to tell about his Blockchain, AI and IoT projects and he’s going to talk about supporting banks developing their digital strategies. There will be one more expert on the vessel, the co-founder of Wikipedia Dr.Larry SangerI who showed the world how to use wikis to build encyclopedias.

Earlier mentioned A-list speakers include computer scientist John McAfee, ex Wall Street trader Tone Vays and Gordon Einstein, CryptoLaw Partners. 

The Coinsbank Blockchain Cruise 2019 speakers who have been announced are CEO of Smart Valor Olga Feldmeier, Contributor at Forbes Naeem Aslam. There will be announced the complete list of panels and speeches and also will be given an introduction to the new speakers at an early date. The tickets are available via Coinsbank website.

About:

Blockchain Cruise 2019 will be held for the fourth time departing from Barcelona between June 9th-13th, docking in Rome. The global conference will take place on the majestic Oasis of the Seas by Royal Caribbean making stops in Palma de Mallorca, Marseille, and La Spezia. The event brings together decision-makers for 4 days of panel discussions, networking events and thought-provoking business talks. 

Note: This is a press-release by CoinsBank.


What will be the Spotify of crypto? #ripico #sto #ntut

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The cryptocurrency market just experienced a small break-out and it almost seems like we all are profiting again. However, it has become virtually impossible for any ICO to (1) attract a decent amount of funding, (2) maintain token price within reasonable value, (3) return the money to the investors, (4) produce any of the blockchain ecosystems promised or (5) make any money at all.

“I therefore declare ICO as dead and buried forever. But it is not the end.”

A new wave is coming. STO (Security Token Offering) is taking the lead in being the most appealing alternative way of fundraising for 2019. In a nutshell is the ability to issue tokens backed by real value. Too many “pitchers” in 2017 and 2018, promised an ICO token that would have appreciated in value for the mere reason that it was scarce (as in limited issuance). Wrong. A million times wrong. Because unlimited ICO multiplied by limited tokens, still makes unlimited token supply as a result, as long as the herd kept producing tokens on ERC20 and list them on an exchange.


I foresee the renaissance being based on 2 ecosystems and 2 tokens.

1.

The first ecosystem will be common to all projects and all trades: a pure financial ecosystem fuelled by Security Tokens (ST). No hidden agenda. Purely for the purpose of making money. Too many times, from the stage of yet another blockchain conference, the CEO of the next big wannabe ICO has promised an ecosystem with a real utility use case. Too bad that token buyers only bought the stinky tokens hoping to go to the moon with their Lamborghini, in the same fake fashioned way Tesla pretended to send one of their cars in outer space. This Financial Ecosystem is only designed to make money.

2.

The second ecosystem depends on the trade. It could be a Lifestyle Ecosystem for a gaming company (one of those who doesn’t have a Problem/Solution slide, but makes ways more money that those who want to “save the world with blockchain technology”). A project aiming to tokenize real estate could, for instance, create an Education Ecosystem, sharing tips and secrets of the trade. A company aiming to tokenize a portfolio of wealth management could create a Financial Networking Ecosystem. The options for naming here are endless. Whatever is the name assigned to this ecosystem, there will be a Non-Tradable Utility Token (NTUT) that can never ever in its lifetime be exchanged for fiat currency or any other crypto/token/coin or whatever. So it is basically useless unless you use it in the ecosystem.

For example, if you are running a gambling project, for every time your user wins/loses more than a certain amount of dollars on your platform, you give them a load of NTUTs, which can only be exchanged to customize the look of the chips, but never to be exchanged for chips. Or, if you are tokenizing real estate, you could use NTUT to access premium content in an educational directory. And if your ecosystem does not have a way to reward users with value, then it would be great to connect with third-party partners able to do so. For example, a telco could offer 1Gb of data as a way to connect with new potential clients.

I believe that the industry is not dead. Only the format. The death of vinyl discs and music cassettes did not kill the music industry, but rather introduced new ways of playing songs with CDs, DVDs, then MP3 and currently Spotify. What will be the Spotify equivalent in this industry? Nobody knows yet.


Stefano Virgilli, CEO at VOX.sg

www.bit.ly/stefanovirgilli

STO vs. ICO

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STO (Security Token Offering) is a token offering that is similar to an ICO (Initial Coin Offering), but the main difference is that STOs are regulated. STOs have become so popular because over the past four years, approximately, pretty much every ICO failed to maintain at least one of the five promises that I call success criteria. 

1. Most ICOs failed to attract enough investment.

2. The majority of ICOs failed to maintain a stable price of the coin or to increase the value of the coin, and so it dropped dramatically.

3. Some of ICOs failed to return the money to the investors.

4. Many ICOs failed to be able to produce the software technology or the ecosystem that they were promising during fundraising.

5. Almost all of them eventually failed to be profitable.

If you take into consideration all the success criteria, in four years, I would bet that no ICO has ever managed to achieve the five points altogether. That is the reason why the STO hope is given a more stringent requirement in the fundraising and backing the value of the token with physical assets, shares or profits could increase the likelihood of success.

ICOs

The crude reality of ICO is that basically the fundraising exercise was simply designed to sell tokens (as borderline securities) to non-qualified investors, without a license to do so. That was all that ICO was about. Basically, those startups that fail to connect with venture capitalists started looking in other directions, i.e. the community. When the community worked, it was because the value of Ethereum was growing so dramatically that it transformed ordinary citizens into millionaires. They were happy to make investments in companies when they didn’t understand exactly how they would have made money.

However, when the community failed to back most projects and when the cryptocurrency stopped growing, startups went back to venture capitals and funds, asking them to invest in their ICO or startup. That is because eventually, even until today, whoever is running an ICO still wants to have an investor, a large investor precisely, to come in and gobble up as many tokens as possible.

Startups

Startups have always been looking for investors for the purpose of growing and developing business. And those that are currently planning to launch an STO understand that ICO is finished, despite the fact that going with STO will require much more regulation. But in terms of costs, it will probably be similar to ICO. Because running an ICO is very expensive from a marketing perspective, while running an STO could be quite expensive from a regulatory perspective, the cost might be comparable in the end.

For those who are doing an STO, it is crucial to take a close look at the current and future regulations. Startuppers should be guided by professional lawyers, accountants, and advisors. It is no longer a ‘cowboy’ type of market where anyone can launch an ICO and attract the community to invest in their projects. Nowadays, it is back to the ‘big boys’ market. So everyone will need a lawyer, a banker, tax advisors, and compliance advisors to explain to them what they need to do in order to be compliant and to stand a chance of success in fundraising through an STO.

What will happen in the future?

After all, STO sounds like the new thing to do, it might go out of fashion quite quickly, probably by March or June 2019. They will start slowing down, and then by September, it could be completely out of fashion. I would compare ICO to vinyl discs, and STO to music cassettes. After the music cassettes, there were CDs and DVDs then the MP3, then Spotify.

We don’t know yet what will come next yet. The industry is still the same, it was music then, and now, similarly, the medium that is used for fundraising has changed and will further evolve, as in the current transition between ICO and STO.

The next transition will be between STO and something else. My current prediction is that there will be fundraising with two ecosystems. One is for fundraising (a financial ecosystem) and the other one for onboarding community, like a point system, and I call it a lifestyle ecosystem, fueled by NTUTs or non-tradable utility tokens. I think this is going to be the next big trend. It is a token that can never be exchanged on an exchange for monetary value but just used as a pure utility to onboard new potential STO investors.

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