The Smart Contract Meetup – Scaling the Public Blockchain for Payments
Roughly 80 blockchain enthusiast, both from a technical and business background, came together and made the Smart Contracts Meetup – Scaling the Public Blockchain for Payments a great event. A prominent lineup of experts featuring Sebastian Stammler (Perun), Konstantin Nick (Donnerlab/Fabervision), Dr. Stefan Teis (Raiden/Brainbot Technologies AG), and from the legal side, Dr. Carsten Lösing (White & Case LLP) contributed to the understanding of the solutions to the problems concerning scalability, high transaction costs, and regulatory requirements.
Starting off, Ram discussed how ICOs are dying and VCs are exponentially entering into the space. With smart money coming in, we are bound to see blockchain companies adapt a more business minded approach and soon mass adoption will be inevitable. The bubble has burst, and now, the truly great companies shall flourish.
Stefan, Nick, and Sebastian followed up with elaborations on what their individual solutions bring to the table in terms of scalability and transaction costs while also discussing the technical aspects of off-chain solutions and the scaling potential that their individual projects offer. Attendees now know a lot more about state/payment channels to increase performance and reduce transaction costs dramatically.
To finish off the presentations, Dr. Carsten Lösing brought in the much-needed legal perspective to enforce the idea that whenever tokens become more closely tied to fiat currency, licensing can become burdensome. It is something that all projects must keep in mind to avoid legal repercussions. However, Dr. Carsten Lösing is confident that the regulatory requirements will be able to handle mass adoption of the discussed solutions within a short period of time.
After each individual presentation, a panel discussion was followed, spearheaded by Maria Pennanen, where use-cases, bank adoption, and the next step in development was discussed. The discussion was ended with a two-part question posed by Ram, “Will there be mass adoption and regulation in place within 12 months (Yes/No), and what is your dream use-case?” A majority of the panel members are bullish and answered Yes.
Thanks to everybody who attended and contributed to a great event. Thanks to the speakers for great presentations. Thanks to Mindspace for providing the space and to Miguel Vaz and Ali-Pasha Foroughi for coordinating the event to make it happen. Also, many thanks to White & Case for sponsoring the food and drinks.
Written by Lukas Linden Malmberg