#kaktus2018 – Blockchain technology is not a magic wand!

Fabien Aufrechner, Head of Havas Blockchain (France), will be one of the lecturers at the KAKTUS 2018 festival, which will be held on November 12 and 13 at the Hyatt Regency Hotel in Belgrade. Fabien will speak at the festival on the topic “Blockchain technologies: the next border of communication”. On this occasion, we talked with Fabien about blockchain technologies, how they will change the flow of communications and influence the creative industry.

Due to the rapid popularity of blockchain, there are numerous definitions of these technologies? How would you define it?

– Blockchain technologies are digital ledgers storing and allowing transmissions of information. These technologies are transparent, secure, and decentralized. The two most important kind of blockchain technologies are the “public” one which are fully decentralized. And the Distributed Ledger Technology (DLT) also called “private” blockchain or “permissioned” blockchain : a decentralized model requiring an invitation to get in.

What can we expect from this innovation?

– Blockchain technologies are not a magic wand! They are just and only technology aside with AI, IoT, big data, etc. Again, they are providing : decentralized governances, security and transparency. Therefore, they are a “Trust provider”. And this is why, as a technology, they are usually used to secure data (cadaster, medical data, supply chain…) or to disintermediate third parties (historically, the very first blockchain was the one of Bitcoin which aimed at disintermediate banks). Blockchain technologies are also the infrastructure of crypto-assets (such as Bitcoin, Ether, etc) and therefore the base of the crypto-economy (the most famous incarnation of this new economy being ICOs – fundraising in crypto-assets).

Do you think that clients are ready for the blockchain technologies from agency view?

– I would not see it as a question of “being ready”. When facing problems for years, anybody is ready for a solution ! And our clients will be very ready when they will discover how blockchain technologies can solve some of their issues. Let’s take a simple example : following the numerous scandals on the lack of transparency from the food industry on their supply chain, all the actors of this ecosystem will be more than pleased to discover how blockchain technologies will end the mistrust of their clients.
This is the same when the whole advertising industry (clients and industry) will realize how blockchain technologies can empower the viewers and give clients the full control of all the data collected !

Year 2018 was declared as the year of blockchain technologies : do you expect it to be in reality?

– In 2018, we celebrate the 10th anniversary of Blockchain technologies. What is special, this year, is not how the technology is evolving but how people and corporates’ positions has evolved on this technology. For the first time, banks are starting to work on crypto funds and crypto desks, corporates are working on ICOs and for the very first time, Governments are understanding the stakes and are therefore starting to regulate the crypto-economy, etc : in this sense, 2018 is the year of the real democratization of the technology – even if, to be honest, most of the people have heard about it but remain far from understanding all about it.

Which industries will be the most affected by blockchain technologies?

– Usually, people use to say that the financial world will be the most transformed, on the long run, by blockchain technologies. But more globally, I would say that all the industries based on third parties and middlemen will be affected : the advertising and musical industries, the food industry, the pharmaceutical and health industry, social networks, insurances and banks, the retail and tourism industry, etc. And along with this revolution by the technology, other sectors will be transformed. For example: ICOs will revolution the whole industry of capital risk, the token economy will probably reshape media’s model and PR’s channels, etc.

What can we expect from your presentation at the festival Kaktus 2018?

– At Kaktus 2018, I will present how blockchain technologies are opening a new paradigm based on decentralization in which key assets are becoming creativity, engagement and public relations. I will also discuss the fears of our industry concerning this new technology and its paradigm (decentralization, transparency, etc) – and try to point out the opportunities arising.

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