Cap: Lee Han-joo (left), co-CEO of SparkLab, speaks throughout a panel session with the participation of Ravi Belani, managing director at Alchemist Accelerator, and Patrick Riley, CEO of World Accelerator Community, on Thursday. (SparkLabs)
“There are lots of promising blockchain firms however they’re overshadowed by cryptocurrencies (for now),” stated Lee Han-joo, the co-CEO of SparkLabs, a number one South Korean accelerator, on the firm‘s demo day that invited startups and buyers world wide.
“Established enterprises are already using the blockchain know-how and I’m positive there might be extra nice firms within the sector,” Lee added.
Blockchain is a decentralized digital document of transactions that kinds the underlying know-how of cryptocurrencies.
A rising variety of firms are creating completely totally different companies utilizing the decentralized know-how, based on Ravi Belani, managing director on the Silicon Valley-based Alchemist Accelerator. “Any business which is decentralized, which is the place the entire world is transferring, you’ll be able to have a blockchain software,” Belani stated.
However buyers ought to be careful for startups which can be attempting to reap the benefits of the blockchain frenzy.
“Blockchain is a superb know-how, however points proper there may be so many firms come away with a horrible concept however say they’re utilizing blockchain. It is an amazing software however you continue to want nice concepts alongside utilizing blockchain in order to achieve success,” stated Patrick Riley, CEO of World Accelerator Community.