Experts Discuss Future of Blockchain and the Internet of Things

The date could not have been better be chosen: on September 18, 2019, various experts discussed blockchain and the Internet of Things at the Frankfurt School of Finance & Management. That was the very the German government adopted its Blockchain Strategy. With this strategy, Germany is taking a pioneering role in the EU - enough material for an exciting evening with guests from business and science.

Under the title "The Machine Economy - Blockchain and the Internet of Things", the three speakers explained the potential offered by new technologies such as blockchain, intelligent and networked devices for digital transformation and the benefits that can be derived from the ever-increasing volume of data.

Sanjay Brahmawar, CEO of Software AG, opened the evening with a keynote on innovative Internet of Things applications. Using examples from his customers, he showed how data can be turned into added value. Thanks to the Internet of Things, a mechanical-engineering manufacturer was, for example, enabled to develop a new business model on the basis of its production data. Sanjay Brahmawar also emphasized that digital change alone cannot succeed with the right technologies. "It's also a cultural transformation. Both companies and employees have to rethink the way they do things."

In the evening's second lecture, Professor Dr. Philipp Sandner, head of the Frankfurt School Blockchain Center, predicted that blockchain technology would develop as rapidly as smartphones - only with a delay of 15 years. While the market for smartphones is now almost 100 percent saturated, the spread of blockchain technologies is only just beginning. The development of a crypto currency is only the first step and Philipp Sandner sees that real currencies and stocks will soon be digitized via blockchain.

Dr. Carsten Stöcker, founder of the Spherity start-up, has been working in the IT world for over 20 years. In his lecture, he therefore dealt with various aspects, examples,industries and the development of recent years. He brings his experience to Spherity, the company he founded. Spherity combines Internet of Things, blockchain and modern cryptography to build data audit trails, settlement, asset management or token streaming.

Under the moderation of business journalist Carsten Knop, the speakers and the audience then discussed the extent to which banks and medium-sized companies can implement these blockchain technologies and the extent to which jobs and job profiles will change in the future.