We recently met with Gilles Haven, Sales Director, CTG Luxembourg, to discuss the Blockchain trend and notably the reasons why CTG decided to join the Infrachain initiative launched in Luxembourg.
When and why did you join the Infrachain initiative?
CTG has joined the Infrachain initiative at the very beginning, as a founding member. It was important for us to be present early within the group, as we believed that the Blockchain technology has a lot to offer to the public and the enterprises, thanks to the new possibilities it provides “by design”. Also, we know that we live in a regulated society. This is true for all our customer markets, and the trend is continuing this way. Therefore, we thought it was a bright idea to be able to offer the strength of the technology while providing a way for the government, the financial sector and all other parties to have a trusted network and infrastructure that would ease its adoption.
What are the challenges you are currently facing when it comes to the development of concrete Blockchain applications?
Despite the fact that the technology and the platform are there, the main challenge is to make people awareness of what Blockchain can bring. We don’t receive many customer requests asking us to develop a blockchain application “as such”. Some might want to have a blockchain application but their business case does not need it. Some others probably have a perfect case but don’t see it. It will still take some time for the industries to know when to use the Blockchain card and have the good reflex while challenging their business needs.
What about their main advantages and opportunities?
The main advantage is that Blockchain brings trust between all parties. Bringing extra built-in compliance layers to it should trigger many new opportunities, as it is often the fear that prevents companies to envisage Blockchain versus more classic technologies.
According to you, where will Blockchain be the most efficient? How and why?
A very efficient use case for Blockchain is the collaboration between parties, as it is what it is has been created for. It brings efficiency where we need to make sure all critical data are correct and have not been altered. When they have to be manually executed, these checks take time and can even jeopardize some deals. Having common standard to exchange these data and to collaborate in a trusted way will probably, at the end, allow more companies and people to work together. Having standard exchange platforms and APIs will at the end allow faster collaboration, and more business to occur.
What is needed to really kickoff the adoption of Blockchain?
Blockchain will be adopted at large when there will be “extra frameworks” around it. Currently the technology is there, applications using it are there, but there are still some steps to perform in order to make it easier for all developers and architects to use it. Avoiding even wondering if the return on investment will be there without making a business case, because of the technology cost, will make a huge difference. To make it short, more adoption by the market will make it more efficient, as it has always been the case when talking about technological disruption. Currently there are very good ways to develop on Blockchain technologies, but some de facto standards that would be widely spread are still missing.
Published on October 21st, 2019 on https://www.itone.lu/actualites/gilles-haven-and-why-blockchain-brings-trust-between-all-parties