Luxembourg

Infrachain Summit 2020: three days of blockchain governance and blockchain use cases – Day 1 report

Franz Fayot, Minister of the economy

After three successful editions in Luxembourg and Bologna (IT), Infrachain Summit went virtual on 9th, 10th and 11th November 2020. Hosted mostly at the fantastic facilities of PwC Luxembourg, with some of the speakers joining live in the studio, Infrachain Summit 2020 featured 5 high level keynote speakers, 10 use case presentations and an international audience of 150+.

DAY 1 – Blockchain and the economy

Franz Fayot, Minister of the economy (Luxembourg) opened the first day with a keynote. Minister Fayot recognised the importance of blockchain for Luxembourg, specifically in the logistics and supply chain sectors, but also in finance. He underlined the need for collaboration between stakeholders as one of the challenges. The minister of the economy noted that the Luxembourg Government is looking with interest at blockchain technology as well as supporting blockchain’s business applications.

In the subsequent industry keynote, Thomas Campione, Blockchain & Crypto assets leader at PwC Luxembourg, provided an overview of the PwC blockchain economic review 2030. This report forees by 2030 a potential net impact on global GDP of USD 1.76 trillion and a net creation of 40 million new jobs. For Luxembourg, the impact is estimated at USD 2bn GDP growth (+2,6%) and 6.600 jobs. China and the USA are considered to benefit most from this evolution and most of the economic impact will stem from 5 key applications: provenance, identity, payment and financial instrument, contract and dispute resolution and customer engagement.

Mathis Baden, Tom Kettels, Frank Roessig at Infrachain Summit 2020
Left to right: Mathis Baden (Telindus), Tom Kettels (Infrachain), Frank Roessig (Telindus) at Infrachain Summit 2020

The first use cases of the Summit were presented by Telindus and Winding Tree respectively.

In an unconventional presentation mode, Frank Roessig, FinTech Lead at Telindus, interviewed his colleague Mathis Baden, Blockchain architect, on Tracechain, a blockchain-based supply chain application using Stellar that provides traceability and authenticity verifications for physical products. A specific point was made on oracles and the reliability of on- and off-chain data.

Pedro Andersen, Founder & COO at Winding Tree, provided details on how their platform disrupts the travel industry through desintermediatisation with blockchain. All of the technology is open source and built using Public blockchain technology. An interesting fact is that WindingTree piloted its first flight booking via Luxembourg with Hahn Air.

Technoport’s Senior advisor Olivier Zephir, PhD presented the last keynote of the opening session. His speech focused on Peers2Blockchain, a project that investigated the strategic impacts of Blockchain as a disruptive technology for SMEs operational and transactional business models. The project resulted in an online good practice handbook that will definitely be very useful to any SME engaging with blockchain.

Read what happend on day 2 and day 3.

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