Adel ▲ Opinion ▲ 16 ▲ Blockchain’s Disruption in 2020 & Beyond

How the insurance sector will learn to love smart contracts

As we mark the ten-year anniversary of Bitcoin’s launch, there’s no shortage of news and speculation related to the digital currency’s value and potential applications. Articles related to blockchain, the overwhelming concentrate on an infrastructure underpinning digital currency used for speculative investments. The reality is far more complex. Blockchain technology’s potential application could disrupt vertical industries as diverse as entertainment, agriculture, and logistics.

As distributed ledger technology (DLT), Blockchains have the potential to reduce human error, costs, and processing of data throughout entire supply chains. They also enable synchronization and reconciliation of databases between various players, by increasing efficiency and transparency. These qualities are particularly relevant for the insurance industry, where claims are particularly cumbersome and require details to be checked and verified by separate parties.

Although Blockchain doesn’t inherently change the insurance industry’s business model, it does reduce points of friction between stakeholders while enabling transparency and scalability. In particular, the use of smart contracts, (self-executing pieces of code) sitting on an immutable transparent and auditable shared ledger could revolutionize insurance practices. Blockchain’s “Smart Code” self-executes in response to certain triggers (oracles) from one contractual state to the next and self-verifies when certain terms and conditions have been met.

In practical terms this dramatically changes the risk transparency between contracted parties, improving the ability to calculate risk through verifiable sources, that can be checked in real-time. This automated risk assessment enables blockchain to handle more risk using smart contracts than could otherwise be done using archaic paper=based policies. Blockchain’s data-sharing foundation has the added benefit of protecting against fraud among insurers, reinsurers, and regulators through a distributed database infrastructure.

The reality of smart contract automation is a concern for insurance incumbents who depend on traditional investigations that maintain manual controls necessary to reduce settlement costs. This may result in an influx of insurance startups who will disrupt the industry. If they are successful, it may lead to an insurance revolution throughout the 2020s and beyond.

As a blockchain technology incubator, Adel sees enormous opportunities for this ground-breaking technology to radically transform the way traditional industries operate. As we enter 2019, more people are realizing that this technology can be applied beyond financial services speculative trading applications. The growing awareness of how blockchain can be applied to reduce supply chain frictions in ossified business structures is one of our main predictions for 2019. The use of smart contract technology transforms industries that continue to log information manually., Outdated business models can now be consigned to the past by using blockchain’s trust consensus, in a way that wouldn’t have been possible just a decade ago.

▲ Adel ▲ Opinions

If you liked this article and would like to read more in the series, then check them out here:

▲ 1 ▲ The Right Path to Funding Decentralized Organizations

▲ 2 ▲ The Next Evolution in Funding Innovation

▲ 3 ▲ A Philosophy for Blockchain Integrity

▲ 4 ▲ A Collaborative Blockchain Incubator

▲ 5 ▲ Blockchain Diversity & Passion

▲ 6 ▲ Blockchain Startup Expertise

▲ 7 ▲ Blockchain Portfolio Diversification

▲ 8 ▲ Blockchain Incubation to Employment

▲ 9 ▲ From Blockchain Innovation to Execution

▲ 10 ▲ Blockchain Will Transform Retail Lending

▲ 11 ▲ The Next Evolution in Crypto Trading

▲ 12 ▲ Crypto Trading for Everyone

▲ 13 ▲ Architecting Crypto Financial Instruments

▲ 14 ▲ Crypto, For the People, By the People

▲ 15 ▲ The Crypto Uprising

▲ 16 ▲ Blockchain’s Disruption in 2020 & Beyond

About the Author

Gabriel is the co-Founder and General Manager at Adel Ecosystem Ltd. He is a seasoned sales and marketing expert with over 25 years in senior positions at Motorola, VeriSign (acquired by Symantec in 2010), and SecureWorks (acquired by Dell in 2011), and Cognitive Security (acquired by Cisco in 2013). He is a blockchain entrepreneur, with strengths in international business strategy. Gabriel has a bachelor’s degree in Engineering Physics from McMaster University in Canada and expert knowledge in blockchain incubation, cloud computing, IT security, and video streaming, and Over the Top Content (OTT). Gabriel also runs his own company, Euro Tech Startups s.r.o, creator of MyKoddi, and manages a professional blog.

Adel ▲ Opinion ▲ 15 ▲ The Crypto Uprising

By:  Gabriel Dusil, co-Founder & General Manager, Adel Ecosystem Ltd.

Crypto.Intro

The blockchain is the underlying technology behind all cryptocurrency. In its simplest form, it is a marketplace for digital payments and asset exchange. Rather than a central authority, a database of transactions is managed by a Peer-to-Peer (P2P) network. The importance of cryptocurrency blockchains is its ability to maintain trust at a programmable level. By solving highly complex math problems this marketplace maintains its security and trust.

The Internet created the eMarketplace
Crypto defines the cMarketplace (aka. crypto Marketplace).

Cryptocurrency has become an Over the Top (OTT) version of money, similar to OTT services for video in the entertainment industry, and the how peer to peer (P2P) networking disrupted telecommunications a decade earlier. Over the Top services disrupt incumbent infrastructures, bypassing them completely and offering an alternative competitive service. From a crypto point of view, the plan was to bypass the monopolies that control fiat money[i] – represented by governments or central banks. In a free society, cryptocurrency allows society to decide the fate of its home-grown currency.

Crypto.Apps

Crypto is not only about virtual currencies. It is an ideology that opens opportunities that streamlines and evolves legacy supply chains. The demand for fast, transparent, international transactions and business services on the blockchain is increasing not only horizontally, but vertically, as the industries set for disruption.

One potential use of blockchain is in smart assets. This is where internet-connected assets can be registered on a globally decentralized blockchain. On this basis, blockchain joins the Internet of Things (IoT) evolution, Benefits span the manufacturing, transactions, and movement of goods to any corner of the globe.

In the meantime, FinTech is considered the low-hanging-fruit for blockchain services. Businesses are exploring blockchain to settle payments and manage contracts – quickly and affordable. Successful implementations are expected to disrupt financial service monopolies as they streamline legacy supply chains.

The global benefits of blockchain are similar to how the internet revolution transformed society. With blockchain adoption, information is open and shared across companies, countries, and continents. Business, social and humanitarian possibilities are endless if blockchain applications successfully adopt best practices in privacy, security, and data management.

Crypto.Opportunity

The possibilities unfolding in the blockchain space are nothing short of revolutionary. The largest redistribution of wealth in human history is happening now, completely dictated by a free market society. The blockchain is the underlying catalyst for this evolution. People in remote locations of the world, who previously didn’t have banking services, can now use cryptocurrency as a means to transact. Remittance is significantly cheaper, needing just a smartphone to transfer funds abroad. In this sense, blockchain has the potential to remove economic, political, and social borders for information sharing and expand to humanitarian initiatives.
The blockchain is the underlying catalyst the largest redistribution of wealth in human history.

New applications will enable transparency, fairness, equality and a truly democratic spirit. For example, another application of blockchain is called “Smart Contracts”, allowing businesses to automate agreements between two parties, removing social, economic and personal biases. Smart Contracts will not only function as an unbiased point of social consciousness but also profit from it.

Projects that will succeed are those which showcase blockchain’s unique features such as immutability, decentralized redundancy, programmable trust, open data, and programmatic security. However, one of the biggest challenges in blockchain is that many developers only have “crypto visibility”. Many cryptocurrency communities lack experience in real-world businesses or managing large companies. To legitimize blockchain-tech, the crypto community must collaborate with real-world, brick-and-mortar expertise.

Crypto.Adoption

A common mistake of new entrepreneurs is to utilize a new technology without notable gains in features or functionality. It’s not enough to wrap an old app into a new coat. Many projects today capitalize on the blockchain buzz in hopes of attracting rich cyber millionaires. They have little to offer in terms of improved features and benefits. Apps that use blockchain for no other reason, other than the name recognition, will fail. The projects that will succeed are those which showcase blockchain’s unique features such as immutability, decentralized redundancy, programmable trust, open source, and programmatic security.

The volatility of cryptocurrency attracts new players with its high risk-to-reward ratio. This hype brings attention, investment, and volatility to the blockchain. Thus the cycle repeats through a roller coaster of profit and loss. When viewed from the standpoint of Roger’s Technology Adoption Curve, blockchain is currently in the Early Adopter stage. Likely this will continue into the next decade. This is supported by Gartner’s Hype Cycle ‘18[ii], which anticipates blockchain to mature in the next five to ten years.

Crypto Adoption Curve
Crypto Adoption Curve

Mentions of “cryptocurrency” and “blockchain” in mainstream media root into the general consciousness. Imagine trying to explain the Arpanet in the 80’s, before the Internet became an integral part of their daily life. With each surge in bitcoin value, new spectators take notice, establishing crypto as a household term. As more big players like Apple, Google and Amazon come on board, the average consumer will help to catapult blockchain into the stratosphere. The future may be closer than we realize, with evolving requests such as:

  • Consumer: “Can I buy your product with Bitcoin?”
  • Corporate: “Can I pay your invoice with Ethereum?”
  • Government: “Can I pay my annual tax return with cryptocurrency?”

Alternatively, blockchain may not become a household name. For example, modern society enjoys access to electricity, gas, and water but have no idea that SCADA is used to operate those services. TCP/IP is well known amongst tech circles, but many don’t know that it is the underlying protocol used to surf the Internet. The blockchain is more analogous to TCP/IP than the “Internet”, in this sense. Blockchain may take on an underlying infrastructure role, but the mainstream may have no idea it’s there, “as long as it works!”

Crypto.Potential

In crypto, there is long-term confidence. The market is certainly volatile and is not for the faint of heart, but the potential for cryptocurrencies is bright. This can be argued from several observations:

  • Bitcoin continues to receive an influx of investment from mainstream users. With every spike in value, a new round of actors enters its market hysteria. There will continue to be spikes and corrections correlating with the adoption and the evolution of the technology, but as time goes on, the price bounces will become more stable as the technology and market mature.
  • Tens of thousands proof of concepts around the world is a testament to blockchain’s potential success. Practically every vertical market is investigating the use of blockchain in their environment. Even if a fraction of them survive, it will further propel crypto into the mainstream.
  • Facebook, Apple, Amazon, Netflix, Google (aka. FAANG[iii], on Wall Street) continue to investigate the use of cryptocurrencies in their services. Once big players are on board, there will be a cascading effect of secondary and tertiary players following their lead.

Crypto Dependencies
Crypto Dependencies

In addition, there are three main factors mainly driving bitcoin and blockchain to the mainstream:

  • The user experience and user interface (i.e. UI/UX) for applications need to improve in order to attract brick and mortar companies. Many blockchain projects are focused on offering a more robust experience for their users.
  • Adoption is necessary to legitimize crypto into and connect cMarketplaces with mainstream eMarketplaces. As new users are enticed by Bitcoin’s hype, they also get “hooked” into the trading game. Once you’re in, you’re. Traders learn to adjust, to fluctuating market conditions, even if the market drops, they typically don’t abandon their investment – they look at the next opportunity.
  • Stability is necessary to legitimize bitcoin. This has yet to play-out in crypto. But volatility attracts new players who have a high risk-to-reward ratio.

Crypto hype brings attention.
Attention brings awareness.
Awareness brings Investment

Blockchain will propagate due to its ability to flatten the world’s flow of information and data sharing capabilities. Applications that showcase such abilities will shine.

▲ Adel ▲ Opinions

If you liked this article and would like to read more in this series, then check them out here:

▲ 1 ▲ The Right Path to Funding Decentralized Organizations

▲ 2 ▲ The Next Evolution in Funding Innovation

▲ 3 ▲ A Philosophy for Blockchain Integrity

▲ 4 ▲ A Collaborative Blockchain Incubator

▲ 5 ▲ Blockchain Diversity & Passion

▲ 6 ▲ Blockchain Startup Expertise

▲ 7 ▲ Blockchain Portfolio Diversification

▲ 8 ▲ Blockchain Incubation to Employment

▲ 9 ▲ From Blockchain Innovation to Execution

▲ 10 ▲ Blockchain Will Transform Retail Lending

▲ 11 ▲ The Next Evolution in Crypto Trading

▲ 12 ▲ Crypto Trading for Everyone

▲ 13 ▲ Architecting Crypto Financial Instruments

▲ 14 ▲ Crypto, For the People, By the People

▲ 15 ▲ The Crypto Uprising

▲ 16 ▲ Blockchain’s Disruption in 2020 & Beyond

About the Author

Gabriel is a sales and marketing expert with over 25 years in senior positions at Motorola, VeriSign (acquired by Symantec in 2010 for 1.250 billion US$), and SecureWorks (acquired by Dell in 2011 for 612 million US$), and Cognitive Security (acquired by Cisco in 2013 for 25 million US$). He is a blockchain entrepreneur, with strengths in international business strategy. Gabriel has a bachelor’s degree in Engineering Physics from McMaster University in Canada and expert knowledge in blockchain incubation, cloud computing, IT security, and video streaming, and Over the Top Content (OTT). Gabriel also runs his own company, Euro Tech Startups s.r.o., and manages a professional blog at https://dusil.com.

References

[i] https://en.wikipedia.org/wiki/Fiat_money

[ii] https://www.gartner.com/smarterwithgartner/5-trends-emerge-in-gartner-hype-cycle-for-emerging-technologies-2018/

[iii] Kenneth G. Winans, “Facebook, Apple, Amazon, Netflix, Google Are Too Hot. These Other Tech Names Look Better” (Forbes, November 16, 2017, https://www.forbes.com/forbes/welcome/?toURL=https://www.forbes.com/sites/kennethwinans/2017/11/16/facebook-apple-amazon-netflix-google-are-too-hot-these-other-tech-names-look-better/&refURL=https://www.google.at/&referrer=https://www.google.at/)

Adel ▲ Opinion ▲ 14 ▲ Crypto, For the People, By the People

Crypto, For the People, By the People

How Blockchain Subverts Today’s Entrenched Power Structures

By:  Gabriel Dusil, co-Founder & General Manager,
Adel Ecosystem Ltd.
&:  John McLeod, Founder,
JEA Associates Ltd.

Mankind has been shaped by borders, whether physical, geographical, technological or financial. Societies have found ways to structure themselves into coherent and ordered blocks. Over the last few centuries empires have risen and fallen, wars have been waged and physical borders have moved. Governments, institutions and multi-lateral structures underpinning political and financial borders have remained intact.

The financial crash of 2008 shook public confidence in banks and government-backed financial institutions that saw billions of dollars, euros, and pounds spent on shoring up the financial system through quantitative easing. Public confidence in financial institutions and governments was at an all-time low. It is no coincidence that Bitcoin emerged out of this economic crisis where traditional institutions failed. A viable alternative was needed without the oversight of big-brother.

Blockchain services undermine traditional forms of governance because it’s decentralized and its users are typically anonymous. This assumes impunity from government and central banks. Anonymous actors are micro components of a growing ecosystem. To date, this crypto sphere has been relatively left untouched by the authorities of the “real-world”, where regulation typically lags innovation.

This raises real questions about how crypto’s services should be managed. Techno-libertarians envision utopian self-regulation, with codified rules that evolve with the technology. Anyone who denies these programmatic rules essentially forfeits their right to participate in this space. Crypto-anarchists envision a free-rule zone for blockchain businesses and unconstrained virtual currency commerce. Within this zone, blockchain businesses would operate free from government intervention and regulation. Bitcoin is essentially a sandbox experiment that is demonstrating how crypto technologies will be successful and be applied to real-world scenarios.

Bitcoin is a sandbox experiment,
demonstrating how crypto will be successful.

Whichever form it takes, blockchain technology will need to entertain the notion of regulatory oversight, for it to gain mainstream acceptance. For this to happen, both the public and private sectors should have a seat at the same table, to establish a common ground for governance and enforcement.

Creating and adopting an agreed set of standards requires consensus from all major stakeholders. Internet’s protocols (e.g. TCP/IP, HTML, and Java) took years before reaching mass adoption. But eventually, this was achieved through well-constructed and easy to implement standards. Crypto coders redefining their own product lifecycle to accelerate adoption by excluding the powers-that-be from the socio-economic power pyramid. For the time being, they are at the pinnacle of this power hierarchy, with governments, banks and even citizens treated as outsiders. But history has shown that closed solutions are not scalable, to the same potential as standards. Any developer can set the rules of their homegrown blockchain. Have the geeks inherited the earth?

We have reached a unique point where the traditional power brokers who normally put the brakes on disruptive technologies have been sidelined in favor of a newly defined crypto power hierarchy. Governments nor banks control the crypto sphere, but they maintain partial control of cyberspace and the real world. Within the isolated world of crypto, this hierarchy works, but if mass-market adoption is the plan then consensus with the brick and mortar world is needed. The open question is whether this is in the interest of crypto coders, miners, and service providers.

Who could have predicted the spectacular rise in the value of Bitcoin and Ethereum just five years ago? A 100 US$ investment in Bitcoin in 2013 would now be worth 7000 US$ today[i]. Satoshi Nakamoto could not have predicted the creation of nearly 4000 virtual currencies on CoinLib[ii] ten years after releasing his white paper and over 100 thousand token contracts[iii] on the Ethereum blockchain. Only a brave person can envisage what the next five years have in store. It is safe to conclude, however, that crypto has proved its detractors wrong and its potential benefits to humanity are vast. Interoperability, scalability, security, and ease of use for the average person are all questions that need to be answered.

For the first time in history, people have the potential to break down the traditional borders that have divided them, whether geographically, technologically or economically. Individuals are empowered to create crypto services free from government regulation or any other centralized authorities. We have currency for the people by the people, and of the people, only time will tell which direction it takes, and who shapes its future.

▲ Adel ▲ Opinions

If you liked this article and would like to read more in this series, then check them out here:

▲ 1 ▲ The Right Path to Funding Decentralized Organizations

▲ 2 ▲ The Next Evolution in Funding Innovation

▲ 3 ▲ A Philosophy for Blockchain Integrity

▲ 4 ▲ A Collaborative Blockchain Incubator

▲ 5 ▲ Blockchain Diversity & Passion

▲ 6 ▲ Blockchain Startup Expertise

▲ 7 ▲ Blockchain Portfolio Diversification

▲ 8 ▲ Blockchain Incubation to Employment

▲ 9 ▲ From Blockchain Innovation to Execution

▲ 10 ▲ Blockchain Will Transform Retail Lending

▲ 11 ▲ The Next Evolution in Crypto Trading

▲ 12 ▲ Crypto Trading for Everyone

▲ 13 ▲ Architecting Crypto Financial Instruments

▲ 14 ▲ Crypto, For the People, By the People

▲ 15 ▲ The Crypto Uprising

▲ 16 ▲ Blockchain’s Disruption in 2020 & Beyond

About the Authors

Gabriel is a sales and marketing expert with over 25 years in senior positions at Motorola, VeriSign (acquired by Symantec in 2010 for 1.250 billion US$), and SecureWorks (acquired by Dell in 2011 for 612 million US$), and Cognitive Security (acquired by Cisco in 2013 for 25 million US$). He is a blockchain entrepreneur, with strengths in international business strategy. Gabriel has a bachelor’s degree in Engineering Physics from McMaster University in Canada and expert knowledge in blockchain incubation, cloud computing, IT security, and video streaming, and Over the Top Content (OTT). Gabriel also runs his own company, Euro Tech Startups s.r.o., and manages a professional blog at https://dusil.com.

John McLeod

John has spent nearly a decade working for a number of leading public relations firms in London, focusing primarily on PR management in the financial services sector. John’s expertise includes blockchain technology and the evolution of cryptocurrencies in financial services. That’s why he recently founded his own consulting firm, JEA Associates Ltd., which is specifically positioned to communicate the value proposition of this burgeoning technology. John has spent the past year successfully executing campaigns for a digital currency consultancy, decentralized financial solutions, and online payments platforms.

About Adel

adel.io | Blockchain Agnostic Technology Incubator

Adel is a technology incubator for blockchain innovation. Our community collaborates on ideas and uses the AdelWiki™ to collectively create business plans. Members vote on projects and can become profit participates when they are launched. Expertise within the community brings mentoring, learning, and employment opportunities. Successful projects are re-invested for further growth or issued as rewards to members. Adel is blockchain agnostic and will harness the features of any open-ledger platform to showcase its potential. Our mission is to incubate projects that will positively change the world.

▲ Adelphoi | Digital Currency for Adel Ecosystem

Many virtual currencies are a utility or equity tokens on their corresponding blockchains. The Adelphoi (ADL) coin is different, in that it uses a comprehensive process of Idea2Project incubation, to fuel its own ecosystem.

References

[i] https://www.xe.com/currencycharts/?from=XBT&to=USD&view=1Y

[ii] https://coinlib.io/coins

[iii] https://etherscan.io/tokens?p=10

Adel ▲ Opinion ▲ 4 ▲ A Collaborative Blockchain Incubator

▲ Incubator Series

By:  Gabriel Dusil, Co-founder & Board Member, Adel
Jessica Allen, Blockchain Enthusiast & Social Media Expert

A Collaborative Blockchain Incubator

Most blockchain initiatives had a singular goal: to introduce a new blockchain platform (Ethereum, July 2015; Lisk, May 2016; Waves, January 2017). More recently, projects began to appear to focus on launching a more FinTech-focused service linking blockchain to gold such as Digix Global[1], or Ether ETF, the first-ever Ethereum-related Exchange Traded Product (ETP) in the United States[2].

With so much innovation in blockchain, is there a market to consolidate ideas into a single platform?

  • What about an ecosystem that encourages diversity across many industries with a vision of collaborative success?
  • Similar to the crowdfunding success of Kickstarter, a startup incubator that will legalize projects and help them be successful.
  • A single platform that unifies people from various industries, disciplines and regional backgrounds to accelerate idea development and implement real-world projects.
  • A community that enables innovation and equity ownership in projects.

The incubator model[3] has proven itself effective because people bootstrap ideas into viable projects without requiring exorbitant amounts of seed capital. Combining startup incubation with collaborative workspaces[4] is a rapidly growing phenomenon. These environments provide local space for startups to form and allow users to share resources and expertise to cross-pollinate ideas. They leverage business services like human resources and effectively manage funds.

Economies of Scale Through Collaboration

These new approaches to startup incubation demonstrate the need for efficiency, cost savings, and community in order to give ideas momentum. Efficiency is created by using investment funding in an ecosystem where multiple industries work together. Sometimes the best ideas come from disparate disciplines joining together to create something new which could not have been realized in isolation. The relationship between medicine and engineering has proven this synergy for several decades[1].


Figure #1: Adel Community Modules

Merging real-world incubator initiatives with virtual collaborative workspaces is the vision of Adel Ecosystem Ltd. Adel’s global incubator will include six online modules (Figure #1) with the intention of fostering collaboration.

  • A collaboration module will be a discussion forum to fuel ideas, as well as develop business plans for ideas that the community supports.
  • A voting module will enable a democratic vote by members.
  • A project module will show a bi-weekly status of project operations and success metrics.
  • A market module will be used to sell products and services from those projects, as well as post job vacancies in the various projects. Addition modules will be introduced, including one for currency trading.
  • Wrapping up the modules are the account and trading modules which show the status of the member’s wallet and allow them to send and receive coins with other members of the community.

Adel co-founder, Gabriel Dusil, is up for the complex challenges ahead, commenting, “Our decentralized and virtual incubator has its challenges, but we will manage that. As leaders and curators, it will be our responsibility to make sure that efficiency is maintained and momentum is sustained. When we see that there is a constructive effort to move ideas forward then we have the responsibility to make sure that the process continues to flow. That is one of our main responsibilities as curators of the community”.

▲ Adel ▲ Opinions

If you liked this article and would like to read more in this series, then check them out here:

▲ 1 ▲ The Right Path to Funding Decentralized Organizations

▲ 2 ▲ The Next Evolution in Funding Innovation

▲ 3 ▲ A Philosophy for Blockchain Integrity

▲ 4 ▲ A Collaborative Blockchain Incubator

▲ 5 ▲ Blockchain Diversity & Passion

▲ 6 ▲ Blockchain Startup Expertise

▲ 7 ▲ Blockchain Portfolio Diversification

▲ 8 ▲ Blockchain Incubation to Employment

▲ 9 ▲ From Blockchain Innovation to Execution

▲ 10 ▲ Blockchain Will Transform Retail Lending

▲ 11 ▲ The Next Evolution in Crypto Trading

▲ 12 ▲ Crypto Trading for Everyone

▲ 13 ▲ Architecting Crypto Financial Instruments

▲ 14 ▲ Crypto, For the People, By the People

▲ 15 ▲ The Crypto Uprising

▲ 16 ▲ Blockchain’s Disruption in 2020 & Beyond

About the Authors

Gabriel is a sales and marketing expert with over 25 years in senior positions at Motorola, VeriSign (acquired by Symantec in 2010 for 1.250 billion US$), and SecureWorks (acquired by Dell in 2011 for 612 million US$), and Cognitive Security (acquired by Cisco in 2013 for 25 million US$). He is a blockchain entrepreneur, with strengths in international business strategy. Gabriel has a bachelor’s degree in Engineering Physics from McMaster University in Canada and expert knowledge in blockchain incubation, cloud computing, IT security, and video streaming, and Over the Top Content (OTT). Gabriel also runs his own company, Euro Tech Startups s.r.o., and manages a professional blog at https://dusil.com.

Jessica Allen

Jessica is a blockchain enthusiast and social media community expert with over 25 years of technology and 15 years of digital marketing experience.  As a mother of two, Jess is passionate about blockchain’s potential to innovate industries, unite communities and create a sustainable global economy.  She brings the ability to create conversations with anyone, at any level, about blockchain use cases and potential.  Jess is active on social media @TheJessAllen and volunteers her time with the Isha Foundation to help share the benefits of yoga and meditation as fundamental tools for human transformation.

References

[1] https://www.asme.org/engineering-topics/articles/bioengineering/top-5-medical-technology-innovations and http://medicalfuturist.com/top-10-medical-technologies-of-2016/

[1] https://www.dgx.io

[2] http://www.zerohedge.com/news/2017-04-26/ethereum-surges-all-time-high-sec-considers-ether-based-etf

[3] https://www.inc.com/john-rampton/top-10-hot-incubators-to-join-in-silicon-valley.html and https://www.forbes.com/sites/tomiogeron/2012/04/30/top-tech-incubators-as-ranked-by-forbes-y-combinator-tops-with-7-billion-in-value/#6b70519d51f3

[4] https://hbr.org/2011/11/inventing-the-collaborative-workspace

Adel ▲ Opinion ▲ 9 ▲ From Blockchain Innovation to Execution

▲ Incubator Series

By:  Gabriel Dusil, Co-founder & Board Member, Adel
Jessica Allen, Blockchain Enthusiast & Social Media Expert

From Blockchain Innovation to Ownership

Blockchain is arguably the most transformative technology since the invention of the Internet. Initially, the cryptocurrency use case with Bitcoin was fuelled by talented developers who were passionate about its stateless ideology. In the Blockchain Adoption Curve (Figure #1), these innovators represented talented technical minds who believed that blockchain could revolutionize the financial world with Bitcoin as its first use case. Although it took some time to gain momentum, this application established confidence that a currency born from code could be viable, powerful and profitable. It took several years for a new group of early adopters to realize its potential beyond a monetary system.Figure #1: Blockchain Adoption Curve

Since the introduction of Satoshi Nakamoto’s white paper in 2008, several other blockchain platforms attempted to establish themselves. However, some of these shut down due to devastating hacking attacks such as the one on the DAO[1], scams such as Coin.mx[2], or due to legal reasons[3]. Meanwhile, governments continue to play catch-up by implementing new regulations to address the growing popularity of cryptocurrencies and mitigating the security risks of anonymity.

By 2013, a wider audience from many industries began to take notice. These new supporters began to investigate how blockchain could improve society, science, medicine, government, and many others.

Despite all this attention, a powerful blockchain startup incubator had yet to be established to help drive innovation in this industry. Even with over 10,000 projects on GitHub[4], blockchain innovation needed a structured environment – not for development, but for all other aspects of launching a successful business.

A Brand that Fuels Innovation

Adel launched in December 2016 to offer such a platform; a home where innovators, investors, and experts can actively participate in a community environment to build viable blockchain solutions. Adel recognized that to build such an ecosystem, necessary legal steps had to be taken to secure their platform. This includes launching a Know Your Customer (KYC), Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) compliant ICO which began on May 1st, 2017 and continues until May 31st. Their crowdfunding initiative is to sell their Adelphoi (ADL) coin as a cryptocurrency to transact within an exclusive community of like-minded participants.

Some may argue their vision is in opposition to blockchain liberalists who value anonymity, complete freedom, and a stateless society. But Adel believes that a platform that follows regulatory compliance is necessary to legitimize blockchain and move this technology into the mainstream. Adel is poised to create a powerful blockchain ecosystem by establishing six main pillars:

  • A Philosophy for Blockchain Integrity ▲ This is a commitment to their community to uphold the ethical, moral and legal requirements of every member and project in the ecosystem.
  • A Collaborative Blockchain Incubator ▲ Their intention is to serve as the curators of the community. Their goal is to maximize participation and capitalize on the expertise of its members while providing the freedom and liquidity to exit at any time.
  • Blockchain Diversity and Passion ▲ This ensures that the democratic voting process and project approvals have the depth and range of cultural, political, regional, and economic perspectives.
  • Blockchain Startup Expertise ▲ This is essential to creating business plans that turn ideas into projects and projects into sustainable and successful businesses.
  • Blockchain Portfolio Diversification ▲ The intention is to build a diverse portfolio that spans a variety of industries, creating investments sustained in a strong risk management strategy. Projects that cross several vertical markets ensure stability and sustainability.
  • Blockchain Incubation to Employment ▲ This is Adel’s unsung asset to their powerful ecosystem. Members play an active role in developing projects until they are executed. A member’s role can continue as an expert advisor or employee within the project management team and by demonstrating skills that the project requires.

Adel co-founder and General Manager, Gabriel Dusil, stated, “No technology since the Internet has garnered so much attention. Blockchain is viewed with high potential in helping society to streamline processes, but it’s not a silver bullet, and some proof of concepts will not survive. The proof of concepts that emerge will change computing forever. We want Adel to be a central resource to accelerate ideas to projects. We want to be the leading global brand for blockchain incubation.”

▲ Adel ▲ Opinions

If you liked this article and would like to read more in this series, then check them out here:

▲ 1 ▲ The Right Path to Funding Decentralized Organizations

▲ 2 ▲ The Next Evolution in Funding Innovation

▲ 3 ▲ A Philosophy for Blockchain Integrity

▲ 4 ▲ A Collaborative Blockchain Incubator

▲ 5 ▲ Blockchain Diversity & Passion

▲ 6 ▲ Blockchain Startup Expertise

▲ 7 ▲ Blockchain Portfolio Diversification

▲ 8 ▲ Blockchain Incubation to Employment

▲ 9 ▲ From Blockchain Innovation to Execution

▲ 10 ▲ Blockchain Will Transform Retail Lending

▲ 11 ▲ The Next Evolution in Crypto Trading

▲ 12 ▲ Crypto Trading for Everyone

▲ 13 ▲ Architecting Crypto Financial Instruments

▲ 14 ▲ Crypto, For the People, By the People

▲ 15 ▲ The Crypto Uprising

▲ 16 ▲ Blockchain’s Disruption in 2020 & Beyond

About the Authors

Gabriel is a sales and marketing expert with over 25 years in senior positions at Motorola, VeriSign (acquired by Symantec in 2010 for 1.250 billion US$), and SecureWorks (acquired by Dell in 2011 for 612 million US$), and Cognitive Security (acquired by Cisco in 2013 for 25 million US$). He is a blockchain entrepreneur, with strengths in international business strategy. Gabriel has a bachelor’s degree in Engineering Physics from McMaster University in Canada and expert knowledge in blockchain incubation, cloud computing, IT security, and video streaming, and Over the Top Content (OTT). Gabriel also runs his own company, Euro Tech Startups s.r.o., and manages a professional blog at https://dusil.com.

Jessica Allen

Jessica is a blockchain enthusiast and social media community expert with over 25 years of technology and 15 years of digital marketing experience.  As a mother of two, Jess is passionate about blockchain’s potential to innovate industries, unite communities and create a sustainable global economy.  She brings the ability to create conversations with anyone, at any level, about blockchain use cases and potential.  Jess is active on social media @TheJessAllen and volunteers her time with the Isha Foundation to help share the benefits of yoga and meditation as fundamental tools for human transformation.

References

[1] http://www.coindesk.com/understanding-dao-hack-journalists/

[2] https://bitconnect.co/bitcoin-news/404/coin-mx-bitcoin-exchange-fraud-mastermind-pleads-guilty-faces-lengthy-prison-sentence

[3] https://bravenewcoin.com/news/36-bitcoin-exchanges-that-are-no-longer-with-us/

[4] https://news.bitcoin.com/bitcoin-projects-github-surpass-10000/

Adel ▲ Opinion ▲ 5 ▲ Blockchain Diversity & Passion

▲ Incubator Series

By:  Gabriel Dusil, Co-founder & Board Member, Adel
Jessica Allen, Blockchain Enthusiast & Social Media Expert

Blockchain Diversity & Passion

A strong blockchain should look beyond finance and computing to reach the mainstream. To get there, the platform needs a diverse talent pool that is passionate about ideas. A decentralized collaboration tool has its challenges, but one aspect is certain: individuals from all walks of life can participate in the development and implementation of blockchain technologies in industries where they have the desire and experience.

A diverse community allows members to interact with a variety of ideas and combine them into something greater than the sum of its parts. Individually, those ideas may not be viable but combined they may turn into a competitive value proposition. Projects developed in isolation don’t have such a luxury. An idea may originate from diametrically opposed industries, with conflicting cultural dynamics, corporate bureaucracy, and political agendas. Bringing people together from completely different disciplines can result in new approaches to solving problems and help to overcome obstacles that would not have been tackled otherwise. Furthermore, a decentralized community flattens the traditional corporate structure. For example, a brick and mortar environment has several layers of hierarchy – “a chain of command” as they say in the military. Many managers would not interface with levels of management much lower than themselves due to the ego, power, or personal agenda. In a decentralized community, everyone is essentially treated equally.

A decentralized platform that incubates ideas also has the benefit of streamlining people, processes, and technology. A 10,000-meter view of ideas, business plans, and projects allow for efficiencies that is unprecedented in normal startup initiatives. Those responsible for the idea funnel can combine features from a different idea to make it a better idea. The business team can streamline their process from months to weeks. Likewise, project teams can collaborate on best practices, operational efficiencies, and market intelligence. The ecosystem strengthens as the project portfolio grows and diversifies.

The Internet may have removed international borders of communication, but for startup incubation, these barriers still exist. Those in the crypto community are still in relative isolation to the rest of the world in terms of business collaboration. Bringing people together, with a common purpose and investment interests, is a good formula for sustainability and profitability.

 

Figure #1: Success from Diversity

Diversity comes from regional, cultural, vertical, horizontal, and occupational backgrounds (Figure #1). Adel co-founder, Gabriel Dusil says: “We want a diverse community to maintain a spectrum of talent that loves to create and complete projects. The ecosystem benefits when we have hundreds of members representing a diverse talent pool. We realize that not all will actively participate. As with most forums, you have those that observe and those that participate. Our goal is to build a sizable membership pool and incentivize participation. Adel is about bringing the best practices of investment strategies and venture capital expertise to the crypto community.”

▲ Adel ▲ Opinions

If you liked this article and would like to read more in this series, then check them out here:

▲ 1 ▲ The Right Path to Funding Decentralized Organizations

▲ 2 ▲ The Next Evolution in Funding Innovation

▲ 3 ▲ A Philosophy for Blockchain Integrity

▲ 4 ▲ A Collaborative Blockchain Incubator

▲ 5 ▲ Blockchain Diversity & Passion

▲ 6 ▲ Blockchain Startup Expertise

▲ 7 ▲ Blockchain Portfolio Diversification

▲ 8 ▲ Blockchain Incubation to Employment

▲ 9 ▲ From Blockchain Innovation to Execution

▲ 10 ▲ Blockchain Will Transform Retail Lending

▲ 11 ▲ The Next Evolution in Crypto Trading

▲ 12 ▲ Crypto Trading for Everyone

▲ 13 ▲ Architecting Crypto Financial Instruments

▲ 14 ▲ Crypto, For the People, By the People

▲ 15 ▲ The Crypto Uprising

▲ 16 ▲ Blockchain’s Disruption in 2020 & Beyond

About the Authors

Gabriel is a sales and marketing expert with over 25 years in senior positions at Motorola, VeriSign (acquired by Symantec in 2010 for 1.250 billion US$), and SecureWorks (acquired by Dell in 2011 for 612 million US$), and Cognitive Security (acquired by Cisco in 2013 for 25 million US$). He is a blockchain entrepreneur, with strengths in international business strategy. Gabriel has a bachelor’s degree in Engineering Physics from McMaster University in Canada and expert knowledge in blockchain incubation, cloud computing, IT security, and video streaming, and Over the Top Content (OTT). Gabriel also runs his own company, Euro Tech Startups s.r.o., and manages a professional blog at https://dusil.com.

Jessica Allen

Jessica is a blockchain enthusiast and social media community expert with over 25 years of technology and 15 years of digital marketing experience.  As a mother of two, Jess is passionate about blockchain’s potential to innovate industries, unite communities and create a sustainable global economy.  She brings the ability to create conversations with anyone, at any level, about blockchain use cases and potential.  Jess is active on social media @TheJessAllen and volunteers her time with the Isha Foundation to help share the benefits of yoga and meditation as fundamental tools for human transformation.

Adel ▲ Opinion ▲ 3 ▲ A Philosophy for Blockchain Integrity

▲ Incubator Series

By:  Gabriel Dusil, Co-founder & Board Member, Adel
Jessica Allen, Blockchain Enthusiast & Social Media Expert

A Philosophy for Blockchain Integrity

Given Bitcoin’s meteoric rise, some claim that its underlying technology, blockchain, is ushering in an Internet 2.0. Don Tapscott[1], bestselling author and winner of the 2017 Digital Pioneer Award, remarked, “The first generation brought us the internet of information. The second generation, powered by blockchain, is bringing us the internet of value, a new, distributed platform that can help us reshape the world of business and transform the old order of human affairs for the better.”

Even with blockchain’s potential to improve society, not everyone has its best interest in mind. With many deregulated technologies, including the internet, both the corrupt and complaint manage to find a way to profit within the same sandbox. It is for this reason that regulators have needed to play catch-up to blockchain initiatives and cryptocurrencies[2]. The intention is to close gaping holes where criminals are passing with impunity. Once laws are in full force, blockchain service providers will need to seriously consider compliance tactics. This may alienate blockchain liberalists who stubbornly oppose centralized control. But alignment to legislation will also attract mainstream investors who want the confidence and assurance that their investments will be kept safe.

Blockchain’s first application, Bitcoin, was occasionally tainted by nefarious actors who harmed its reputation. Unfortunately, the media perceived Bitcoin as harmful to communities. Now that the blockchain technology has been researched by many financial institutions, there is a common interest to redefine the blockchain brand in a positive light. Integrity in the development, release, and use of new blockchain-based software is of the utmost importance. And both the media and the public should be educated on its benefits.

To create integrity, there are three regulatory considerations for cryptocurrency services in 2017:

  1. Know Your Customer (KYC)
  2. Anti-Money Laundering (AML)
  3. Counter-Terrorism Financing (CTF)

Blockchain projects till now had not been subject to such strict requirements. Nor did governments have the regulations in place to enforce these policies. As a result, projects were shut down and investors left empty handed[3] , the most notable being BitInstant[4] and Mt. Gox[5], both of whom contributed to tarnishing the blockchain brand.


Figure #1: Adel Ecosystem Limited’s Commitment to AML4 compliance

Crypto investors are quickly learning acronyms like KYC, AML, and CTF. 2017 is the year of significant regulatory change. This is namely due to Directive (EU) 2015/849, informally known as the 4th Anti-Money Laundering directive (Figure #1), or AML4[6] which will be implemented on June 26, 2017[7]. To meet compliance requirements, crypto services must follow detailed auditing and compliance procedures, or risk closure due to regulatory violations.

Adel co-founder Gabriel Dusil says: “Our responsibility is to protect the blockchain brand. We think this is just as important as protecting our own. The foundation from which we built Adel is regulatory compliance and the desire to incubate long-term sustainable businesses. This legitimacy opens our doors to mainstream investors. It’s not just about legitimizing the crypto community as an investment vehicle. It’s about creating innovative projects that will change the world. This alone has the potential to solidify the integrity of the blockchain brand.”

▲ Adel ▲ Opinions

If you liked this article and would like to read more in this series, then check them out here:

▲ 1 ▲ The Right Path to Funding Decentralized Organizations

▲ 2 ▲ The Next Evolution in Funding Innovation

▲ 3 ▲ A Philosophy for Blockchain Integrity

▲ 4 ▲ A Collaborative Blockchain Incubator

▲ 5 ▲ Blockchain Diversity & Passion

▲ 6 ▲ Blockchain Startup Expertise

▲ 7 ▲ Blockchain Portfolio Diversification

▲ 8 ▲ Blockchain Incubation to Employment

▲ 9 ▲ From Blockchain Innovation to Execution

▲ 10 ▲ Blockchain Will Transform Retail Lending

▲ 11 ▲ The Next Evolution in Crypto Trading

▲ 12 ▲ Crypto Trading for Everyone

▲ 13 ▲ Architecting Crypto Financial Instruments

▲ 14 ▲ Crypto, For the People, By the People

▲ 15 ▲ The Crypto Uprising

▲ 16 ▲ Blockchain’s Disruption in 2020 & Beyond

About the Authors

Gabriel is a sales and marketing expert with over 25 years in senior positions at Motorola, VeriSign (acquired by Symantec in 2010 for 1.250 billion US$), and SecureWorks (acquired by Dell in 2011 for 612 million US$), and Cognitive Security (acquired by Cisco in 2013 for 25 million US$). He is a blockchain entrepreneur, with strengths in international business strategy. Gabriel has a bachelor’s degree in Engineering Physics from McMaster University in Canada and expert knowledge in blockchain incubation, cloud computing, IT security, and video streaming, and Over the Top Content (OTT). Gabriel also runs his own company, Euro Tech Startups s.r.o., and manages a professional blog at https://dusil.com.

Jessica Allen

Jessica is a blockchain enthusiast and social media community expert with over 25 years of technology and 15 years of digital marketing experience.  As a mother of two, Jess is passionate about blockchain’s potential to innovate industries, unite communities and create a sustainable global economy.  She brings the ability to create conversations with anyone, at any level, about blockchain use cases and potential.  Jess is active on social media @TheJessAllen and volunteers her time with the Isha Foundation to help share the benefits of yoga and meditation as fundamental tools for human transformation.

References

[1] http://dontapscott.com/

[2] http://www.bvdinfo.com/en-gb/blog/compliance-and-due-diligence/what-you-need-to-know-about-aml4, http://www.telegraph.co.uk/business/2017/04/16/regulating-bitcoin-new-frameworks-could-catalyst-cryptocurrencies/ https://coinlexit.wordpress.com/2016/07/06/bitcoin-aml-proposal-of-the-european-commission/

[3] http://www.coindesk.com/70-bitcoin-scams-shut-new-york-law-enforcement/

[4] http://www.businessinsider.com/report-ceo-of-major-bitcoin-exchange-arrested-2014-1?international=true&r=US&IR=T

[5] https://en.wikipedia.org/wiki/Mt._Gox

[6] https://www.bvdinfo.com/en-gb/blog/compliance-and-due-diligence/what-you-need-to-know-about-aml4

[7] http://www.bvdinfo.com/en-gb/blog/compliance-and-due-diligence/what-you-need-to-know-about-aml4

Adel ▲ Opinion ▲ 8 ▲ Blockchain Incubation to Employment

▲ Incubator Series

By:  Gabriel Dusil, Co-founder & Board Member, Adel
Jessica Allen, Blockchain Enthusiast & Social Media Expert

Blockchain Incubation to Employment

Building a strong ecosystem for startup incubation starts with a foundation of integrity, diversity, and collaboration. A philosophy of integrity satisfies the authorities while attracting mainstream players with the capital to bootstrap project development. A collaborative environment is formed to attract talented individuals who are motivated to work together and create viable products. This framework retains talent and rewards their expertise.

The computing age and the internet have enabled new technologies thanks to the passion and commitment of volunteers. Linux has been a big success in the open-source arena with a 66% market share in web-based servers and 99.79% in supercomputers[1]. The SourceForge[2] repository showcases over 430,000 open source projects. Decentralized development has fuelled many of these projects, including blockchain technology.

Decentralized code development provides a framework for fast and efficient project execution. Traditional approaches to project management and leadership still need to be maintained. Hard-working developers have the motivation to succeed, while at the same time enjoy flexibility in their schedule and workspace. When an ecosystem has a whole community that works together, each participant has a devoted motivation for their project to grow from infancy to maturity and ideally sustainability.

Blockchain incubator, Adel Ecosystem, Ltd. is revolutionizing the blockchain incubation process by offering employment opportunities to community members. By having members participate in idea development through to project execution, each participant has a vested interest in ensuring success. They have a personal and financial interest in that growth. The unsung benefit becomes the vast employment opportunities for members across multiple projects. In addition, knowledge and lessons learned on one project can then be utilized in future initiatives. Systematic business planning creates its own efficiencies.

A collaborative environment for blockchain incubation offers its members a central platform from which to incubate ideas. Funding options need the flexibility to accommodate both a wider consensus and a narrow one. There needs to be a pool of experts who know how to build businesses, mitigate weaknesses, and maximize revenue potential. Furthermore, the open nature of blockchain requires transparency in various activities of the community, such as voting, key performance metrics (KPIs) of projects, and collaboration.


Figure #1: Passion + Expertise + Capital = Success

Adel co-founder, Gabriel Dusil comments, “We think that employment is a unique benefit of our ecosystem. The members have a vested interest in wanting their projects to be successful. It’s their baby. They invested their hearts, minds and money into the initiative. We feel this is the magic formula behind what we are creating.”

▲ Adel ▲ Opinions

If you liked this article and would like to read more in this series, then check them out here:

▲ 1 ▲ The Right Path to Funding Decentralized Organizations

▲ 2 ▲ The Next Evolution in Funding Innovation

▲ 3 ▲ A Philosophy for Blockchain Integrity

▲ 4 ▲ A Collaborative Blockchain Incubator

▲ 5 ▲ Blockchain Diversity & Passion

▲ 6 ▲ Blockchain Startup Expertise

▲ 7 ▲ Blockchain Portfolio Diversification

▲ 8 ▲ Blockchain Incubation to Employment

▲ 9 ▲ From Blockchain Innovation to Execution

▲ 10 ▲ Blockchain Will Transform Retail Lending

▲ 11 ▲ The Next Evolution in Crypto Trading

▲ 12 ▲ Crypto Trading for Everyone

▲ 13 ▲ Architecting Crypto Financial Instruments

▲ 14 ▲ Crypto, For the People, By the People

▲ 15 ▲ The Crypto Uprising

▲ 16 ▲ Blockchain’s Disruption in 2020 & Beyond

About the Authors

Gabriel is a sales and marketing expert with over 25 years in senior positions at Motorola, VeriSign (acquired by Symantec in 2010 for 1.250 billion US$), and SecureWorks (acquired by Dell in 2011 for 612 million US$), and Cognitive Security (acquired by Cisco in 2013 for 25 million US$). He is a blockchain entrepreneur, with strengths in international business strategy. Gabriel has a bachelor’s degree in Engineering Physics from McMaster University in Canada and expert knowledge in blockchain incubation, cloud computing, IT security, and video streaming, and Over the Top Content (OTT). Gabriel also runs his own company, Euro Tech Startups s.r.o., and manages a professional blog at https://dusil.com.

Jessica Allen

Jessica is a blockchain enthusiast and social media community expert with over 25 years of technology and 15 years of digital marketing experience.  As a mother of two, Jess is passionate about blockchain’s potential to innovate industries, unite communities and create a sustainable global economy.  She brings the ability to create conversations with anyone, at any level, about blockchain use cases and potential.  Jess is active on social media @TheJessAllen and volunteers her time with the Isha Foundation to help share the benefits of yoga and meditation as fundamental tools for human transformation.

References

[1] https://en.wikipedia.org/wiki/Usage_share_of_operating_systems

[2] https://en.wikipedia.org/wiki/SourceForge