Data and identity, AI, cybersecurity and the impact of geopolitical and regulatory shifts—these were the major themes of SIBOS 2017. It’s probably no surprise to learn that blockchain was a top agenda item, too. Here are my five SIBOS highlights.
MAKING BLOCKCHAIN REAL – In the year since the last Sibos, blockchain has moved from discussions around the basics of the technology and its potential impact on financial services to more serious discussions on how to use, deploy and scale the technology. During our panel—Blockchain: The Road to Adoption—Brian Behlendorf (Hyperledger), Chris Church (Digital Asset), Sharon Weed Cocco (IBM), Chris Church, Umar Farooq (JPM) and Todd McDonald (R3) had a lively discussion on progress made over the past year, lessons learned and the state of production. With the arrival of the first 1.0 versions, we can expect a seismic shift in maturity as we head to 2.0. And just as the code has matured, so have expectations. Banks have moved beyond PoCs to making blockchain real.
SIR TIM BERNERS LEE – The inventor of the world wide web painted a powerful vision for the “next web"—a global, recentralized internet, driven by the quest for frictionless, global trade, and ultimately allowing consumers to access their data in one place.
IDENTITY – Data and identity was one of the major themes at SIBOS this year. Specifically, discussions around digital identity as key to how Blockchain innovation advances. As organizations take advantage of the potential for distributed ledger technologies to enable shared access to data, many of the challenges of "identity" can be solved. I also shared this sentiment in a recent blog post.
DIVERSITY IN DEVELOPMENT – Accenture’s Diversity in Development lunch showed once again that the blockchain community is committed to coming together and solving the challenge of engaging talent across all demographics in the technology. The attendees were virtually split 50/50 between men and women. Of course, that could also be a testament to the power of speakers—Blythe Masters, CEO, Digital Asset and Iliana Oris Valiente, Managing Director, Blockchain Innovation, Accenture.
GOVERNMENTS AND REGULATORS – During the panel—Blockchain: lessons learnt and prospects for the future—panelists from central and commercial banks expressed views on the essential role that governments and regulators play. Governments and key regulators around the globe are being very proactive about Blockchain and innovation. They recognize the importance of working side-by-side and taking an active role in the technology’s development.
Are you ready to make blockchain a reality for your business?