Hi Margaux, so what do you do and what brought you to Asia?
I am in charge of the APAC business development for Blockchain Studio. Before that, I was working for the French Trade Commission at the French Embassy, helping tech & innovative companies to expand in South-East Asia. At Blockchain Studio, we’ve created Rockside, a blockchain service provider that helps companies deploy blockchain projects fast and in a very secure way. It is built to make it easier for large organizations to use blockchain technology and to move from pilots to production. I’m passionate about innovation and of course I’m a blockchain enthusiast 😉.
Could you explain us what is blockchain and its value?
A blockchain is a ledger of transactions which is distributed in a peer-to-peer network. All the transactions are signed by a cryptographic system. To validate the registration in the ledger, a consensus mechanism, that was defined at the creation of the blockchain, is applied by the various participants (represented by computers). This builds collaboration and trust between the participants. On the Blockchain, Digital media called “tokens” are used and can easily represent any tangible asset. These tokens can be split, making them more liquid and simpler to exchange. Another killer feature, on certain types of Blockchains, is an executable contract (the smart contract on Ethereum or chaincode on Hyperledger) that can automate a complete process when the execution requirements are met. This automation streamlines the transaction process between different stakeholders, accelerates the execution and reduces the possible defaults.
Now, think of the huge number of transactions made every day, which are long and quite often costly to process, then you can envision the tremendous potential of Blockchain.
Are there any live use cases?
The potential applications with blockchain technology are really huge. The first real case of Blockchain is, of course, the use of cryptocurrencies (example; Bitcoin, Ether, etc.). We see today that big institutions are creating their own currency like JPMorgan Coin or the future Facebook Coin. Those examples shows the potential of blockchain technology. And while most blockchain use cases may only be into proof of concept at this point in time, there are a lot of great ideas out there especially related to tracking of goods and to certifications processes. According to Gartner, by 2023, blockchain will support the global movement and tracking of $2 trillion of goods and services annually.
At Blockchain Studio, we are currently working on different types of use cases where Blockchain brings out different perspectives. Some examples below: – Ensure and validate the identity of the owner of a diploma – Streamline the subscription and trading of financial products in retail banking – Track and follow up the production of specific green energy assets in an existing network
All these cases show clearly some key benefits of Blockchain: cost reduction by focusing on trusted third party, better user experience by increasing trust, reduce transaction etc, and the emergence of new business models.
Will blockchain change the world?
Would you imagine a world without internet today? Probably not. I think we won’t be able to imagine a world without Blockchain in the next decade. Blockchain will be an enabler to a new way of doing business. According to Gartner, the business value-add of blockchain will grow to slightly more than $176 billion by 2025, and then it will exceed $3.1 trillion by 2030. And a World Economic Forum survey suggested that 10 percent of global GDP will be stored on blockchain by 2027. Many interesting blockchain-based initiatives are about bringing positive social impact such as financial inclusion, identity management (according to the World Bank, over a billion people are not officially recognized by any government today), distribution of international aid, recording healthcare data, and so on.
I really believe that blockchain will support a massive transformation in traditional business models and also generate new opportunities to create social impact.
How “Dare you” to be a women in blockchain industry?
Blockchain technology is quite new so there is actually no legacy of gender gap in the ecosystem. The problem is that it is following the path of tech industry in general. That being said, I do believe that there is space for women in this industry and I have a very positive and optimistic outlook about the increasing contribution of women in the blockchain world. I learned about blockchain technology while entering the ecosystem, what you need is just curiosity. And I don’t have a degree in computer science but there is plenty to do beyond coding 😉
How do you bring more diversity?
So far, I’m working with the APAC Female French Tech community to gather women in the blockchain industry, put them in the spotlight and also to find the blockchain use cases that will bring more diversity. And I intend to do more and to spread the word that women in blockchain are more than welcome!