iFX EXPO 2018 Cyprus: How Blockchain Conquers Biggest Event In Financial Sphere
More than 4,000 professionals from the global financial market spent three busy days within iFX EXPO, one of the largest and loudest exhibitions of 2018 in the business sphere, in Limassol, Cyprus. The organizing team CONVERSION PROS devoted a considerable effort to make this event match the spirit of the declared slogan “Where tomorrow is today.”
Blockspoint wouldn't miss a chance to cover the topic of blockchain and cryptocurrency cases presented among more conservative and familiar participants in the trading industry, such as top managers, shareholders, online brokers and traditional financial institutions.
It is worth noting that this year the exhibition was attended by more crypto representatives than last year. There were both significant companies and venture startups along with ICO projects among the guests. Exchange representatives who deal with digital assets, platforms for payment solutions, wallet and storage developers, PR agencies, analytical and consulting companies, and even teams that offer to lease ASIC to mine several cryptocurrencies simultaneously set up their booths. Almost all teams tried to attract attention with the help of non-standard marketing moves and unexpected items of merchandise.
According to Gal Ron, CEO of CONVERSION PROS, the exhibition was aimed at "physical" consolidation in various fields of the financial sphere by creating a single space for cooperation. He noted that a new digital space is now at the formation stage, which allows changing traditional financial spheres beyond recognition. Representatives of different, sometimes very distant areas, establish professional contacts that lead to striking collaborations and that is one of the most important reasons to attend iFX EXPO. Gal Ron concluded that the main mission of the exhibition is to encourage people to share ideas to make the future closer that now seems unlikely.
For some exhibition participants, the technological future has already become a daily occurrence. The world faced an unprecedented situation when substantial amounts of capital suddenly became available to unexpected classes of society. According to Valentina Drofa, CEO of Drofa Group, 2017 was distinguished by the noisy community response to all things related to blockchain and cryptocurrencies. Valentina is very familiar with changes in the community attitudes, as her organization, among other things, promotes ICO projects. Many people have become very rich on digital assets, for example, teenagers who received bitcoins for winning online games in 2010 and now keep millions on their accounts. This is one example, which indicates that the financial market is currently going through a period of destabilization. Valentina Drofa emphasized that the general excitement around the topic of cryptocurrencies and blockchain went down compared to last year, the audience of investors decreased and became more grown up, leaving those who can truly appreciate the actual capacity of the proposed projects.
The exhibition demonstrated that most projects in the traditional financial sphere which have consistently provided their audience with various payment and brokerage tools, are also aimed at using blockchain technologies. This reaffirms the popular opinion that business should keep up with technologies to remain viable in a volatile world.
The exhibition's visitors participated in the discussion of the pressing problems and issues during speaking sessions. The blockchain sphere was presented by Aleks Nowak, co-founder of BlockEx, Avner Ziv, head of the project, and Jim Preissler, Trade.io CEO. They presented their achievements and drew the attention of representatives from the financial area to the advantages of the innovative technologies.
The speakers have reached the conclusion that the blockchain development can't be stopped and there appear more and more global conglomerates that use distributed ledger tools in their processes.
Blockchain-based solutions were presented by project teams of Smartologic, Blackmoon, BlockEx, UpTrader, Krypton SoftWare, trade.io, BitBay, Bitcoin Shop, Orange Coin, tokentarget, Popcorn, News BTC and many others. Exhibition organizers noted that the event demonstrated a record number of participants offering alternative and progressive financial tools this year.
The exhibition showed that the cryptosphere is currently being enriched by projects aimed at the practical solution of specific problems faced by everyone who uses money. Many projects issue their own tokens and there are already so many of them that experts call into question the necessity of their existence in general. The collective portrait of a venture blockchain startup is the availability of utility and security tokens, which are being developed and can be used within a proprietary system that is mostly based on the Ethereum blockchain, as it allows the creation of a rapid and safe solution based on smart contracts. In general, all startups compete to achieve better speed, efficiency, decentralization, and process safety.
iFX EXPO 2018 allowed to obscurely describe the future of the financial area, which is gradually adopting new developments to solve long-standing issues. Even competitors are forced to be united in order to work out simple solutions for complex challenges of our time because of the market destabilization, the Forex industry turbulence, and disconnection between brokers. Representatives of the traditional financial sphere are increasingly turning to the distributed ledger technologies for help.