It is only 7 years since blockchain appeared in our dictionary and today we are talking about one of the fastest growing technological trends.

The World Economic Forum in Davos forecasts that within 6 to 7 years, 10 percent of the world’s GDP will be registered on blockchain-based systems, which compares with the combined annual economic performance of Germany and the United Kingdom. Blockchain technology is now not only the basis of the cryptocurrency clearing system, but has also begun to simplify processes in many industries, which startups have to count on. As a result, 13 major European banks operate a unified trade finance platform, integrating the process of Maersk, the world’s largest container shipping company, into a unified blockchain system from warehouses to port authorities to courier companies, while the governments of Australia and Estonia are working on a national blockchain platform.

Blockchain barriers

It is not easy to accelerate blockchain startups. The companies face different challenges: technological, business and legal challenges. The biggest barriers to blockchain adoption according to PwC are lack of trust and regulatory uncertainty.

blockchain barriers

Source: PwC’s Global Blockchain Survey 2018, https://www.pwc.com/blockchainsurvey

About blockchers

The Blockchers project has been designed to support and accelerate blockchain startups – selected by external experts following European Commissions guidelines. Blockchers acceleration services focus on the technological and business challenges and offer a highly customized approach for each selected startups.

Key element of the Blockchers acceleration process is validation: from the beginning of the application process startups needs to find a potential end-user and throughout the acceleration process they continuously need to test the solution with the end-user.

To tackle the business challenges innovation experts of innomine and ZABALA will provide individual and customized coaching. Alastria will provide support for the technological aspect – the selected startups can become an Alastria node (optional) and will receive technology support. To prove their technological readiness throughout the process demo event will be organized.

To address the legal aspects the Blockchain Center of the Frankfurt School of Business will provide valuable training and support.