Blockchain China Connect hosted the US-China Blockchain and Digital Currency Conference last week in Los Angeles. This conference well attended by professionals across the world including over 40 blockchain professionals from China. Here are some of the key takeaways.
1. Chinese investors are sitting on cash. The 2018 bear market has resulted in a lot of Chinese investors waiting on regulation before they invest legally in cryptocurrencies. There is a lot of capital inside China from businesses who want to invest in legit projects but are waiting on additional regulations from the Government. As a result, blockchain projects are trying to joint-venture with larger traditional companies and are also looking at sourcing traditional financing such as IPOs. The intense regulation from China is needed as Chinese professionals said there is currently an increase in fraudulent projects being launched. Projects are stealing bios and pictures of successful professionals from Linkedin and using them in their white papers, websites and marketing materials. This has resulted in more need for due diligence which small retail investors do not have the capital or education to conduct.
2. Blockchain Technology is disrupting businesses. We hosted professionals from many industries who are disrupting traditional business models such as supply chain, warehousing, floral business, banking and even government contracts. The best blockchain projects are able to fix real world problems by using verifiable and permanent ledgers. Mass adoption continues to be a problem as projects continue to market their “Blockchain” project instead of focusing on fixing problems. Panelists agreed that solutions to mass adoption result in less marketing your project as a blockchain project and just market it as fixing a real world problem. Blockchain technology has the possibility to influence every industry and we are still in the infrastructure building phase.
3. Increased competition in Marketing Projects. The main theme of the conference was on how to market your ICO projects in countries outside of the US such as China, Korea, Japan, Russia, etc. These countries all have unique regulations which must be followed and there are barriers to investors from culture, language and knowledge. The increased media attention as a result of the 2017 bitcoin momentum run-up has led to an influx of ICOs. This increased in ICO projects has swarmed the market leading to higher capital costs. Road shows for projects are becoming the new norm as teams look to connect with foreign investors and funding partners. Contact us today at info@BlockchainChinaConnect.com for inquiries on marketing your project overseas.