WiF, in collaboration with Bocconi Students for Fintech Evangelism and Bocconi Blockchain and Cryptocurrencies Association held an event at Bocconi University aimed at developing a critical view of what could become the role of cryptocurrencies and more generally crypto-assets in the future and how we can inscribe them within a long-term trend.
Our panel of speakers was made of Christian Miccoli (Co-founder of Conio inc.), Christina Pozzi (Co-founder and CEO of Impactscool), Mariano Carozzi (Chairman of Tinaba spa) and Manuela Geranio (Moderator, Professor and Researcher at Bocconi University).
The event began with an introduction on cryptocurrencies, especially focusing on Bitcoin, and the technology behind it – blockchain. The benefits of the Blockchain technology have led to a growing number of applications in many different fields, such as its use on stock exchanges for clearing and issuing new private securities (e.g. Australian stock exchange and NASDAQ) and potential applications in voting procedures, diploma issuance, tax collection, healthcare, storage of personal data and smart contracts.
This disruptive technology has already attracted investments from large technology companies (notably IBM) which are working to develop their own blockchain platforms. Moreover, through their disruptive effect and by leveraging on those new technologies, newcomers such as Fintechs have forced traditional players to change the way they operate. Regulators are also paying much attention to this rapid change – to evaluate its risks and its potentials, one of which could be the sustained improvement in efficiency of financial services and the reduction of costs. However, the future is still unclear regarding the extent to which blockchain will be implemented into different parts of society. In particular, while today most people buy cryptocurrencies in hopes of achieving a capital gain, it is reasonable to believe that their demand sustained for its payment functions could grow over time.
In conclusion, when asked whether our centralized economies are becoming artifacts of another age, it is hard to pin down one specific end to the story. Although a self-governed economy with no centralized entity might be an unrealistic outcome, a growing percentage of individuals do have preferences leaning towards a more decentralized system and while this percentage is still small today, what about tomorrow?
To hear the whole discussion of our panel, full recording of the event is available at: